In today’s fast-paced digital landscape. No one likes to wait. More than 82% of consumers look for an immediate response from brands. So, we can say that brands that provide quick, personalized replies are the true winners when it comes to engaging customers and making a great impression.
If you make your potential customers wait for hours just to get the answer they want via email or even put them on hold for one minute on the customer service call, they’ll think that they deserve much better.
Well, they do, indeed. This is why conversational marketing has been gaining a lot of traction.
Conversational marketing is the new way of interacting with your customers. It humanizes your brand and helps you get closer to your audience. If you are looking for a way to make your business more personal and approachable, conversational marketing is perfect for you.
We’ll dive more in-depth into conversational marketing; what exactly it is and why your business should care about it.
What Exactly Is Conversational Marketing?
Simply put, conversational marketing is the art of talking to customers the way you would talk to your friends. It is a one-on-one interaction that helps you connect with potential and current customers on a more personal level.
It’s not just about responding to customer queries or complaints in real-time, but also about engaging them in conversation. This could be done through:
- Voice-assisted websites
- Instant messaging
- Live chats
Conversational marketing is also less intrusive as compared to traditional marketing techniques like email or telemarketing. It allows customers to choose when and how they want to be communicated with, which makes it a more preferred communication method for many.
In other words, conversational marketing is all about being there for your potential customers. They can reach out to you when they need you, and you’ll be able to answer their needs in real-time.
One good example of conversational marketing would be Sephora which uses an AI chatbot for its e-commerce website. Shoppers can ask the chatbot any question about products, services, and even store locations. Not to mention that they can even make a quick purchase just by simply chatting with the bot.
How Important Is Conversational Marketing?
As today’s customers demand quick, and more personalized responses from brands they’re interested in. Some of them rely on different types of marketing videos to increase engagement, others provide FAQ pages. But, we can say that conversation is essential for brands that aim to reach and build a better relationship with them.
It is no secret that the best way to connect with potential and current customers is through conversation, and conversational marketing provides that opportunity for brands.
In fact, research shows that:
- 55% of businesses that use chatbots generate more high-quality leads.
- 40% of internet users prefer to interact with a bot rather than an agent.
- 1.4 billion people use messaging apps and are willing to talk to bots or other conversational AI.
- 52% of consumers are more likely to make repeat purchases if the company offers support via live chat
- 71% of customers expect companies to communicate with them in real-time.
- Brand-customer conversations inside Facebook Messenger have a 30% better ROI compared to retargeting ads.
Why Your Business Should Care About Conversational Marketing
Now that we know what conversational marketing is, it’s time to find out why exactly your business should care about it.
Make Your Customers Feel Special
When you answer your customers’ queries in real-time, it makes them feel special. They know that you’re taking the time to listen to them and that their concerns are your priority. This builds customer loyalty and can even encourage them to become brand advocates.
A happy customer is a key for a business’ longevity because they will be more likely to refer others to your business and even give you positive online reviews.
Understand Customers’ Needs
Did you know that it costs six times more to acquire a new customer than it does to retain an existing one? This is why conversational marketing is so important for businesses.
It helps you connect with your customers on a more personal level and helps you understand exactly what they need. Conversational AI like chatbots will save the customers’ queries, so you’ll get a better understanding of your customers’ needs. This way, you can provide them with the best possible service/product experience.
Shorten Buying Cycle
Conversational marketing can also help shorten the buying cycle. You’re not just throwing products at them and hoping that one of them will stick. You’re actually helping them find the right product for their needs.
By engaging potential customers in conversation, you’re providing them with information that they need to make a purchase decision.
For instance, when a potential customer wants to explore more about your brand, you can provide product demo videos using a chatbot. Once they have an understanding of your brand or product you offer, they can effortlessly give their data to the chatbot and let it process it. That’s how you convert leads into customers.
In other words, it simplifies your buying cycle without having to shove anything into your potential customers’ faces.
Conversational AI is also quick and easy to use, so it only takes a few clicks and typing to purchase your product or service. That’s how you encourage them to buy quickly before they change their mind.
Gain a Competitive Edge
A conversational marketing strategy is a great way of gaining a competitive edge against your competitors in the market today. After all, customers’ buying behaviors have evolved, and they’re more likely to choose brands that provide them with a personalized experience when purchasing from the brand in question.
When your competitors won’t be able to provide them with the same level of support as you do, they’ll find a reason why they should choose you.
Humanize Your Brands
Humanizing a brand is crucial in today’s age. Customers want to feel like they’re dealing with a real person, not just a faceless corporation. Those template-like emails and cold calls are no longer an effective solution. Conversational marketing helps you do that by giving your customers an opportunity to communicate with you on a more personal level.
Conversational marketing allows you to create a more meaningful relationship with your customers. Even though chatbots are technically a robot, you can set them up in a way that makes them seem more human.
Conversational AI has evolved drastically and sometimes your customers don’t even pay attention to the fact that they are asking a robot for help. You can also program them to respond in a way that is personal and engaging.
Improve Customer Service
Gone are the days when customers had to wait on the phone for hours just to speak to your customer service team. Conversational marketing is a great way to improve your customer service.
Good customer service is essential for any business. It’s what separates the good businesses from the great ones. Having 24/7 customer service and being able to give a relevant, more personal response is crucial in customer service. And conversational marketing can help you with that.
Reduce Customer Service Cost
It’s impossible for your customer service representative to be available 24/7. You might consider hiring more people for the team, but it won’t be cost-effective.
Conversational AI can help your business save money on customer service because you’re not paying for someone to sit there all day just waiting and answering customers’ queries. For instance, a report shows that chatbots can cut operational costs by up to 30%.
You’ll also reduce the time it takes to respond to them, so they will only need one or two straightforward replies instead of a lengthy conversation with one of your representatives.
Improve the Customer Service Team Productivity
Your customer service team can sit on their desk all day just to reply to the same, mundane questions over and over again. All of this can be handled by the chatbot without having to take up the time of a human agent.
Chatbots are a great way to automate your customer service process. You can program them to answer the most common questions that customers ask.
So, not only does conversational marketing improve the customer experience, but it also frees up your customer service team’s time, so they can focus on more complex tasks to generate more revenue.
Asks for Feedbacks
You can also use conversational marketing to offer your customers an opportunity to give their opinions and feedback about the brand in question, as well as provide you with valuable insights that will help improve your business.
It will help you improve on the areas that need improvement and make sure that you’re giving your customers exactly what they want. Remember that 62% of customers expect brands to constantly adapt based on their actions and behaviors.
That’s a powerful way to better serve your customers’ needs and ultimately improve customer satisfaction. As a result, it would be much easier for you to stay relevant and understand customers’ ever-changing preferences and needs.
Build Rapport with Customers
You can also utilize conversational AI to build rapport with your customers. You can create a more personal relationship by getting to know them and what they like, their interests, etc.
It’s always better for you to have a friendly rapport with your customers instead of an impersonal relationship that doesn’t go anywhere or offer anything valuable in return.
When your business is likable and approachable, your customers will recommend it to their peers. And that’s also how you can drive more traffic to your website.
Increase Trustworthiness of the Brand
Conversational marketing can also help increase the trustworthiness of your brand. When customers feel like they’re being heard and that their opinions matter, it builds trust between them and the company.
If you can successfully show that you care about what your customers think and that you’re always willing to listen, then it would be much easier for them to believe in your brand and continue to be loyal customers.
Conversational marketing isn’t a new form of marketing, but it has evolved and become one of the most powerful tools for businesses that are looking to grow their customer base.
By providing 24/7, instant, accessible service, it makes sense why many marketers believe that is the future of customer service. That’s why it’s important for your business to start implementing this type of marketing now– if they haven’t already done so. It will help you stay competitive in today’s market and improve your overall relationship with your customers.
This is a guest post written by Andre Oentoro
Andre Oentoro is the founder of Breadnbeyond, an award-winning explainer video company. He helps businesses increase conversion rates, close more sales, and get positive ROI from explainer videos (in that order).
LinkedIn: Andre Oentoro