The development of science and technology in the past few decades have facilitated everything for humans, but the only thing that people don’t have today is time. The moment someone visualizes modern life, it comes to your eyes like a flash, and every issue needs immediate attention. This has now become the key driving factor of modern marketing. Every company around the globe is striving to generate traction for their products and services, and industriously working to increase their client conversion rate. This era of extreme market competitiveness has a sure winner – ‘chat marketing tools’.
With the advent of technology, the decade of the 90s saw internet and mobile phones entering common life. Gradually, the communication channel between the companies and their customers made its base on emails and phone calls. SMS, notifications, FAQs, and inquiry forms were some more communication methods added with time. But, all these forms of marketing, interaction, and feedback channels came with their set of drawbacks, and finally, it all gave way to chat marketing. Marketers are fighting for the attention of users online. This is no more a game of finding a distribution channel, but rather about getting the attention of people and converting them in that short time.
Although it may sound impractical at the beginning, marketing with chat has proven to nearly double the conversion rate of customers.
The game has changed for the business world and now it depends on sales. The higher your conversion rate is, the better your profits will be. E-commerce is the need of the hour and most of the companies have acknowledged their presence on the online platform providing their products and services. The moment a potential customer visits a website, the small popup for live chat gets active and prompts the customer to initiate. An interactive chat further leads to suggestions, offers, and assistance, and finally, the potential visitor gets converted into a satisfied customer. This is miraculous for a marketing strategist and an elixir for company profits these days.
Chat marketing improves lead conversion in comparison with traditional marketing techniques like collecting user information with forms on landing pages. Just by replacing these forms with a chat interface, conversion rate goes up dramatically because of a more personal interaction with the user. The moment the customer has a doubt or needs some guidance, the chat conversations provide real-time results, and this has proven to double the customer return rate many times. The top C-suite of companies across the world is ensuring that their customers get real-time service, and the chat marketing tool is the best available option in the form of chatbots or live chat representatives.
What can be more beneficial for companies than getting more profit by investing less? That may have sounded like a utopian idea a few years ago, but it has become the reality today. Chat marketing doesn’t just improve sales and bring profit but also helps the company in managing the marketing investment. Whether via chatbots or chat reps, the chat marketing tool incurs less cost than other marketing and customer service methods of phone calls or emails. The average interaction cost per employee reduces significantly as more customers can be handled simultaneously, and the customer satisfaction level improves with the prompt response from the company.
Taken the other way round, integration of AI-enabled chatbots also proves economical in the long run and relieves the management from handling the extra workforce.
Earlier, there used to be a different channel system with a waiting period for required services from any company. Chat marketing has brought everything onto one common platform. Whether a customer has a query, is seeking suggestions, buying any products or services, or just providing feedback, the live chat acts as the perfect maestro for delivering all these features in real-time.
Depending on the inputs from a customer, chatbots provide relative options and offer assistance. The marketing domain, especially with regards to customer interaction, has evolved over time and became customer-centric. Right from the product/service information to queries and payment processing to customer feedback, chat tools perform all these tasks adroitly. Chatbots easily process the common queries and address the customers’ concerns, and forward complex issues further to a human chat representative. This serves as a self-sufficient interaction system between customers and the company, resulting in higher satisfaction and larger clientele.
Apart from the improved customer service and better communication, live chat also comes with tracking and reporting features. The product/service demand, increase or decrease in sales and related data, other market indices, customer behaviour reports, and additional analytical information are easily drawn from the chat marketing tool, and this helps in strategizing business to increase the profit. The recent advents in technology have shown a greater role for data analysis and AI, and chat marketing tools best serve the purpose.
The final verdict of every market researcher today includes the glorification of chat marketing as the most successful marketing tool. Be it the website, online store, social media platforms, or forums, chatbots and live chat have proved their worth – yet the industry still needs to dive deeper and include live chat in a more utilitarian way.
Vipul Garg is the Co-founder and Head of Marketing & Design at Morph.ai, a leading marketing automation tool to create chatbots and boost lead generation campaigns for brands.
(Disclaimer: The views and opinions expressed in this article are those of the author and do not necessarily reflect the views of YourStory.)