Take our certification to gain a clear understanding of how Conversational Marketing will increase your conversion rates and help you close more business. Dashboards that show you how many leads you’ve captured and qualified with conversations, how many meetings you booked and scheduled, and how much revenue and pipeline your conversations are driving. You can even see the total amount of sales opportunities influenced. With Conversational Marketing, when a visitor clicks download, contact sales, or book a demo, you want to immediately jumpstart the conversation. From there, you can move people through your funnel instead of forcing them to wait for a follow-up email — as long as that’s what they want. Use AI-powered chatbots to guide visitors to the right outcome.
This process is where the chatbot will ask a series of simple questions in real-time to understand if the user needs customer support, sales assistance or looking to make a transaction. This is a good opportunity to inject some personalization and make the potential customer feel like they’re in a real, meaningful conversation with the brand. Conversational Marketing is a dialogue-driven approach to marketing that uses real-time conversations to engage site visitors and quickly move them through the buying journey. It creates an authentic E-commerce experience that builds relationships with customers and buyers. We’re talking high-performing, revenue-generating content, web design, and tools that have helped these clients of ours grow exponentially by attracting traffic, capturing leads, and driving sales. The fintech sector also uses chatbots to make consumers’ inquiries and applications for financial services easier. In 2016, a small business lender in Montreal, Thinking Capital, uses a virtual assistant to provide customers with 24/7 assistance through Facebook Messenger.
The conversational marketing platform should provide the staff with notes on the user’s qualification and answers to questions. Sales reps or call center agents should be able to guide users through the options, with a view to creating a customer through a sales conversation. Among these regions, North America is projected to hold the largest market size during the forecast period. The key factor favoring the growth of the conversational AI market in North America is the increasing demand for enhancing the customer support service to strengthen customer retention initiatives. Additionally, the increasing number of players across different regions is further expected to drive the conversational AI market. The APAC region is expected to hold the fastest growth rate during the forecast period.
A personalized advertising solution considers user data when drafting responses to questions your users may have about your brand. These interactions can help strengthen the consumer’s relationship with your brand by fostering a one-on-one connection. For many businesses, engaging in these types of conversations with clients to gain actionable insight requires scalable technologies such as chatbots or other digital solutions. In addition, you can’t implement a conversational marketing strategy without a process for tracking performance, conversation marketing definition moments of confusion or drop-off, and new questions. You should always be gathering data and optimizing the experience. This smooth journey is achieved by using tools to understand and communicate with the user in the way they want. This can be done by using tools that integrate options like messaging apps such as WhatsApp, SMS, phone calls, and social media into one platform. This holistic approach means that the user and the sales team are seamlessly linked up, allowing for Conversational Marketing to take place.
These conversations can make users feel more comfortable, and you’ll be able to gain key consumer insights and understand leads. There are several conversational AI solution providers in the market that are building chatbots and virtual assistants with the help of open platforms with restricted user-specific characteristics. An API is designed for general usage without encompassing any specific features. Consequently, the bots built through generalized APIs may fail to meet the expected accuracy levels. The response generated from chatbots and virtual assistants are programmed with a particular set of instructions and can only provide answers for queries that are stored in a database. The ideal conversational AI interface should deliver answers in such a way that a user is unable to recognize whether he/she is talking to a human or a virtual assistant. Chatbots and virtual assistants will take some time to obtain the required accuracy, which would be on par with humans. Thus, the lack of accuracy is acting as a challenge for the growth of the conversational AI market.
Moreover, the conversational AI market is expected to witness considerable developments and adoption of solutions across the APAC region during the forecast period. The European region is also considered to be the second-largest in terms of market size during the forecast period. The growing demand to reduce enterprise workloads regarding customer engagement and retention is the key factor in adopting conversational AI solutions in Europe. The services segment is expected to grow at a higher CAGR during the forecast period whereas the solutions segment is estimated to hold a larger market share in 2021. The services segment plays a vital role in the functionality of conversational AI solutions. These services are an integral step in deploying technology solutions and are taken care of by solution and service providers.