The ecommerce market has seen remarkable growth just after using chatbots. According to statistics, the global Chatbot market is expected to reach $142 billion by 2024.
Nowadays, every e-commerce store owner recommends using Chatbots in their store, but few people know the potential and benefits of using a Chatbot.
So, if you’re unaware of Chatbot in the e-commerce store, then here we will explore ecommerce Chatbots, how they can help your business to grow, and their importance in today’s market.
What is an eCommerce Chatbot?
Ecommerce Chatbot is a messaging software that business owners integrate into their ecommerce store.
Many Ecommerce businesses are using this software to sort out the customer’s queries, suggest relevant products, collect data, and convert them into your potential customers.
Chatbot also enhances the user experience by giving a more personalized touch to your audiences as per their needs and interest areas.
Types of Ecommerce Chatbots
Many types of ecommerce chatbots are available for different uses. Let’s explore:
1. Artificial Intelligence (AI) Chatbot
If you want an all-in-one smart assistant for ecommerce businesses, then AI Chatbots are the smart option. Many giant companies prefer AI chatbots to automate various operations. These AI-based Chatbots use machine learning and natural language processing (NLP) to respond to customer’s queries smartly with backend data-driven answers. You can customize the Chatbot and give your brand’s look and feel for a personalized experience.
2. Hybrid Chatbot
If you have huge traffic on your ecommerce store and want to build engagement, then a hybrid chatbot is worth considering. You can use it as a personal assistant for your brand and build engagement, greet, make special offers, and handle objections of your visitors.
3. Rule-based Chatbots
Rule-based ecommerce Chatbots work according to predefined instructions. You can give predefined information to the Chatbot, such as common FAQs or basic information about the products/services, and automate repetitive tasks so that your Chatbot will handle customer queries and turn visitors into customers.
4. Simple Chatbot
If you want to try a chatbot before finalizing it, you should add a simple one to your store. A simple Chatbot can easily automate various operations such as capturing details, filling forms, guiding users and providing support.
5. Voice Bot
Voice bot is the modern Chatbot with functionalities of taking user’s input in voice and providing results accordingly. Many giant companies are using voice bots for seamless shopping experiences.
Some Recent Stats About Ecommerce Chatbots
Here are some recent statistics about eCommerce Chatbots and how the e-commerce industry is changing:
- The global Chatbot market size is estimated to increase from $5.86 billion to $21.08 billion by 2028 with a 29.18% CAGR.
- Chatbots can easily handle 70% of the conversation of your business.
- Chatbots are going to handle approximately 90% of healthcare and financial inquiries before the end of 2023.
- More than 64% of ecommerce businesses highly believe that ChatBot provides personalized experiences to new visitors to your site.
- It is estimated that ecommerce Chatbots will handle 90% of customer queries by 2033.
- 80% of people have already made a certain kind of interaction with a Chatbot.
- 68% of users find the Chatbot responsive rate good enough.
- Chatbots are going to become primary customer support by 2027.
6 Reasons Why Chatbots are Important for your Ecommerce Store
1. Customers want more details
When customers shop online, one of the biggest factors in making their buying decisions is enough information to satisfy them. Every customer wants complete information before making a buying decision. So, if you’re getting visitors to your online store, they expect more information from your side to make buying decisions. This is where Chatbot comes in as a 24/7 assistant that helps visitors give complete information for whatever they’re looking for and ensures that it makes it easier for them to make buying decisions.
2. Customers expect a quick response
Nowadays, customers have a short patience level, and they’re expecting quick responses to their queries. That’s why most ecommerce businesses are now using Chatbot to provide immediate responses to customers and resolve their queries.
3. It’s available 24/7
Chatbot provides 24/7 support to your online store visitors. Your Chatbot will be available to help your potential customers at every instant and any time, beside any time zone. Therefore Chatbot is a far better alternative than hiring an assistant.
4. Cost Effective
Chatbots are legit a cost-effective investment. If you hire any assistant, you have to pay them a good monthly salary for the limited working hours. However, Chatbot will go miles away and work 24/7 at a very budget-friendly price.
5. Increase Conversions
Chatbot helps engage new visitors and provide all the required information related to your product and service offerings. Hence, it will improve the buying decision of your customers by showcasing the relevant product offering.
6. Provide Excellent Customer Support
You can provide excellent customer support to your visitors with Chatbot and handle their queries. In order to provide the best support, you can add a predefined Chatbot that can answer most common queries, guide them, and handle order issues to ensure the best support.
5 Effective Ways to Use Chatbot for Your Ecommerce Store
1. Collect Customers Details
Chatbot can be effectively used to gather the contact details of customers such as mobile number, email ID, etc. There are various e-commerce stores currently using the chatbots to collect their customer details.
2. Up-sell and Cross-sell to Customers
A Chatbot can provide personalized product recommendations to your customers and encourage them to buy more. It’s a common way that many giant companies are using to up-sell or cross-sell their products to customers and increase revenue.
3. Build Engagement with Customers
Almost every ecommerce business is now using a chatbot to build engagement with potential customers because it helps them build trust for their brand and resolve customers’ queries 24/7 without any human presence.
4. Answer FAQs
A Chatbot can help you answer your customer’s most commonly asked questions automatically without any human interaction. You must add a Chatbot in your e-commerce store and predefined answers for all the common questions. Now, whenever new visitors come to your store and ask Chatbot any query, it immediately responds and asks the relevant faqs.
5. Excellent Post-sale Support
For your e-commerce store, post-sale support is essential, and Chatbot will make the entire process automated for your business. You can hire Shopify developers and add a Chatbot in your e-commerce store, giving complete data regarding the order issues, consequences and ways to deal with these issues. So whenever any customer shares any issue, the Chatbot has predefined instructions to follow and gives the best possible solutions.
Best Practices for Using Chatbots in ecommerce
Chatbot is one of the best ways to converse with your site visitors and engage them with your website. Here, we have mentioned some of the best practices that you should use in your e-commerce chatbots.
Define your goals and objectives: You should implement the Chatbot in your e-commerce only after properly defining your goals and objectives.
Integrate them with your CRM: Chatbot should be linked with your CRM software. It will help you to record all the required data in a systematic manner and implement personalization in the conversation.
Prepare some FAQs: Most of the site visitors have similar and repetitive queries. Thus, you should add certain common FAQs in your library so that visitors can sort their queries through them.
Design Catchy Interface: You should develop an easy and intuitive interface for the Chatbot. It will allow the site visitors to easily chat with your bot.
AI Training: If you train the Chatbot with the required data, you will make it better with time and practice.
Scalability: Chatbot backend structure should be solid and open to adapt required improvements. In this way, you can respond to more visitors as your site grows.
Monitoring and Improvement: You should continually monitor the daily processes of your Chatbot and try to better it in terms of responding.
Q.1 How Does Chatbot Work?
A Chatbot works in two ways – whether it’s an AI-based Chatbot that learns itself and acts accordingly, or you can pre-defined instructions that the Chatbot takes whenever a similar input is entered.
Q.2 Can Chatbots understand multiple languages?
Chatbots can help you support multiple languages and easily interact with your customers in their native language.
Q.3 How many brands are using ecommerce Chatbots?
Around 58% of companies are currently using Chatbots in their ecommerce businesses.
Demand for Chatbots is growing rapidly, and if you’re running an ecommerce store, then spoons are going to be an integral part of your business to drive results. From building engagement with customers and resolving queries to turning into customers, a Chatbot will run 24/7 and make wonders in your e-commerce business. So it’s the right time to take this chance, hire a Shopify app development company and integrate Chatbot in your E-commerce business to grow exponentially.