What is Chatbot Marketing & How Is it used?
Introduction
Chatbot marketing is a technique that is leveraged by businesses to promote products and services with the help of chatbots. The field has gained extreme popularity post the profusion of the technologies such as conversational AI (in turn fueled by the rise in NLU). The democratization of AI & machine learning by open source AI communities & organizations such as Hugging Face has further shaped the field of chatbot marketing, making it absolutely indispensable for modern marketers.
With the evolution of NLU and techniques such as text-to-speech and image conversion conversational AI has led to a binge in the realm of chatbot marketing. Unlike conventional robotic chatbots, modern chatbots are capable of transcending beyond manually written scripts to communicate like humans by recognizing the speed and text, understanding the intent, deciphering different languages for emotional analytics, and responding exactly in a way the customers want to be reciprocated.
Conversational AI has not only sentimentalized the modern chatbot marketing ecosystem but has also led to the evolved bots to execute more intelligent, compassionate, empathetic, data-driven, and intent-based marketing conversations. Together these invincible strategies lead companies to automate highly personalized customer service resolutions at scale. As every interaction with the customers is akin to a human response, sometimes even better, these chatbots add the much-needed humility and human touch to marketing practices. Moreover, as they facilitate automation and timely response to customers’ grievances, they aid companies or enterprises in leveraging such chatbot mechanics to optimize their bottom-line endeavors.
How Big is the Chatbot Marketing Realm?
BlueWeave Consulting, a strategic consulting and market research firm revealed that the conversational AI market will surge beyond USD 6.9 billion from the year 2021 to be an industry worth USD 29.9 billion by the end of 2028 (which means a whopping CAGR of above 23%).
According to Grand View Research Inc., the conversational AI market will expand to reach USD 41.39 billion by 2030 (scaling up at a CAGR of approximately 24% from 2022 to 2030).
Another report by globenewswire.com circulated that the global chatbot market will reach USD 1,953.3 million by 2027 surging from 396.2 million in 2019. Of all the geographies North American market is expected to witness the most prolific adoption of chatbot marketing.
Modern chatbots can chat with businesses in a more meaningful way. Use them to get help choosing products, ask questions, and get customized information. Chatbots automate routine questions and tasks. As a result, they allow businesses to focus on clients’ needs. Let’s have a more profound look at how chatbot marketing or automated chat agents, are fast becoming the future of conversations and why they are absolutely indispensable. With bots serving as sales assistants, customer service representatives, and live agents, there’s a massive opportunity for businesses to engage in meaningful conversations with their customers. Let’s try to explore more usage of chatbot marketing for enterprises.
Some Innovate Ways to Use Chatbot Marketing to Grow Your Business
As the popularity of chatbots continues to grow, there’s never been a better time to use them in your business. Chatbot marketing is all about efficient communication and seamless experiences. A chatbot can be a valuable member of your sales team, providing access to real-time sales intelligence, customer support, and much more.
If you’re not using these software programs yet but are thinking about it, here are 10 reasons why you should:
1. Chatbots Harness Customers’ Intent Data
Chatbots collect data on customers’ preferences and behaviors by asking questions as they seek to help solve a problem.
Chatbots can be used to collect information such as email addresses, home addresses, phone numbers, and credit card details that you can then use to follow up with customers.
2. Use Chatbots to Generate More Qualified Leads
Chatbot marketing is a great way to generate more qualified sales leads, and it can also help you to increase your conversion rate. A chatbot helps you create an engaging experience for potential customers who are interested in purchasing your product or service. With this in mind, it’s important that you make sure that your chatbot has all of the right features before launching it into production.
Chatbots can drive sales for you, looking for opportunities to upsell or cross-sell and ask if the customer is ready to make a purchase.
- Ask for the customer’s email address: This is an easy way to get in touch with them after they’ve left your website. It’s also great if you have a sales team that needs access to information about potential customers, as well as their contact details.
- Ask for their phone number: If someone has just given you their details, now’s the time when it would be helpful if they could confirm this information again before moving on to something else on your site (like making an order). You don’t want them leaving without knowing whether or not they’re satisfied with everything so far.
- Ask if they want delivery by mail or courier service: It might sound obvious but sometimes people forget that there are different ways of getting products from different companies – especially when purchasing online via chatbot marketing methods (which we’ll cover later). So asking these questions upfront can prevent any misunderstandings later down the line which may lead to unhappy customers which would eventually lead back to losing more money than originally planned either way.
3. Chatbots can be used to Follow-up with Customers
Chatbots can be used to collect information such as email addresses, home addresses, phone numbers, and credit card details that you can then use to follow up with customers.
This information can be used for various purposes:
- Improve customer service by sending newsletters or other marketing materials tailored to the needs of your target audience.
- Improve marketing campaigns by using the data collected through chatbot interactions in order to send personalized messages based on previous conversations (e.g., “Hey John! How’s it going? We’ve been thinking about you lately…”).
- Improve sales by offering special discounts or promotions when potential buyers are able to provide their personal information online via chatbot interactions as well as at physical locations where customers visit frequently (e.g., grocery stores).
4. Use Chatbots to convert your Website Visitors into Email Subscribers
You can use chatbots to convert your website visitors into email subscribers so that you can connect with them later using an email autoresponder.
Chatbots can be used to collect email addresses, home addresses, phone numbers, and credit card details. Once you have collected this information from a chatbot, it will automatically send out a message to the person asking for their details so that they don’t miss out on future gifts from your business.
5. Chatbots can Deliver Personalized Content to Visitors’ Interests
Chatbot software can be used to create a personalized experience for your visitors. You may want to send them messages about the products or services you offer or even provide them with links to other websites that are relevant to their needs.
Chatbot software also allows you to deliver content that’s personalized based on a visitor’s interests and location. For example, if someone visits your website from New York City but has never purchased anything from you before, then you could have a chatbot automatically send them an email offering information about local restaurants in their area (assuming they’re willing to pay more).
6. You can use Chatbots to Conduct Surveys to collect Feedback
You can use chatbots to conduct surveys to collect feedback from your customers.
You can ask customers questions about their experience with your products and services, as well as for general information such as demographics. This information will be helpful in making decisions about what kind of content or improvements you should make next. You can also use the data collected through these surveys to improve future advertisements on social media platforms like Facebook or Twitter by showing specific ads based on certain words that appear in the responses (for example: “the product was easy”).
7. Chatbots can Guide Customers through their Buying Cycles
Chatbots can guide customers through the purchasing process by helping them pick the best product for their needs and clearing any doubts they might have about the products.
Chatbots are great for following up with prospects, providing more information about your company and its products, as well as boosting conversions.
8. Chatbot Can be used to Execute Outreach Programs
Chatbot software can be used to help you reach out to people who have shown interest in your products or services. This is a great way to get started with chatbot marketing because it’s free and easy! You can offer free training videos, webinars, consultations, or video tutorials as an incentive for people who have shown interest in your brand.
9. Chatbots can be Used to Deliver Phenomenal Customer Experience During Live Events
Chatbot software can help you connect with attendees in real-time. It’s a great way to answer questions quickly and efficiently, saving event managers from having to spend time on social media or via email answering one-on-one. For example, imagine the following scenarios:
- If someone attends your event, they will have access to the chatbot software through their smartphone or tablet. When they log into the chatbot platform, they can ask questions about what’s happening at your event and get answers directly from their own device!
- The ability for attendees who aren’t physically at an event (but who are still interested) has been proven effective because it allows them to participate in ways that wouldn’t be possible otherwise—like sending photos of themselves using Snapchat filters while attending another conference somewhere else around town!
10. Chatbots facilitate Persona Clustering & Providing Hyper-Personalized Experiences
Bot traffic can be segmented in several ways. For example, if a customer asks about pricing packages, a chatbot could identify them as the customer’s financial goals and suggest that they complete an order. Since bots provide almost all of the necessary details about a service or product, they can hyper-personalize the chat experience by filling in the customer’s precise needs.
Chatbots can help you segment your traffic by helping customers to find the right product for them. The chatbot may suggest that a customer complete an order by guiding them to the correct page on your website or making suggestions about which package is right for the situation.
Conclusion
We hope that these ten ways to use chatbot marketing to grow your business will inspire you and show you how chatbots can be used in your own business.
According to zendesk.com, over 70% of customers expect “conversational care experiences” that can be facilitated by chatbots.
Chatbot marketing can make marketing more empathetic, data-driven, personalized, and basically everything you train your conversational AI model to achieve. Enterprises can benefit immensely from chatbot marketing as the technique helps them save time and optimize their resources to serve the customers in the aptest ways. By harnessing the voice of customer feedback the enterprises can also wisely leverage the bot data to segment their persona and refine their marketing strategies. They can use the data to anticipate the improvisations in the products or services to accentuate the customer success indexes.
Most of the bots facilitate multi-channel support and integrations including but not limited to social media marketing channels such as Telegram, WhatsApp, Facebook, Instagram Direct Messages, and Twitter Direct Messages. Keeping in view the prolific use of the chatbot marketing strategy almost every social media channel has delineated clear guidelines for setting up a bot with your social media page.
For B2B eCommerce businesses in particular chatbots help in delivering phenomenal customer experiences and in seamlessly integrating their marketing strategies or deliverables with a consistent brand voice and vision to portray before the customers your eloquent brand vision every single time. This kind of service not only sensitizes the customers but also helps in preparing more brand loyalists and spreading positive word-of-mouth.
Some popular conversational AI platforms include Replicant, Dialogflow, IBM Watson Assistant, yellow.ai, and Avaamo Conversational AI Platform, and Feedyou Platform which can help you in preparing or optimizing your own conversational chatbot with little or no coding. Of course, beyond a certain level of democratization, you have to rely on your data-discernment and home-grown data points such as BI tools and CRMs to deliver the most personalized customer experiences but these conversational platforms are certainly simplifying and helping a lot in the deployment of more intelligent and marketers’ friendly conversational chatbots.
The technology is growing profoundly each passing day and is no more in its state of infancy. Indeed, it’s clear that chatbots will play an increasingly important role as marketers look for ways to reach out to customers and increase sales. We’re excited about the future of AI-powered customer service agents, in particular when they already have started revolutionizing every avenue of business communication in ways never thought before.
At Valasys Media we plug and play the best-in-class data-intelligent services to serve phenomenal customer experiences and blend and back those up with a perfect culture reverence, and empathetic approach. Our services help in the furtherance of sales pipeline management in ways that maximize the bottom line conversions for our clients.
For any service-related inquiries, don’t hesitate to get in touch.
