How Chatbots Can Aid in Boosting Your Conversion Rate

31-Oct-2019 11:45 AM Chatbots

If you don’t pay enough attention to conversion, which is the bread and butter of digital marketers, your whole business is likely to sink just like the Titanic.

Have you ever encountered a scenario where you get website visitors quite often, but none of them buy your product or services? Or maybe, you are getting more click-through rates and your web traffic is growing, but you are not making any sales?

That means, your conversion rate is not very hopeful.

What is Conversion and Conversion Rate Optimisation?

Conversion, as a process, begins even before the user visits your website. It starts right with the advertisements you post online and your website pages that are displayed on the search engine result pages when the user looks up for a product or specific services.

And conversion happens when a user who visits your website decides to take positive action, like signing up for newsletters or filling up a survey, which ends up with purchasing your product. In other words, a conversion happens when the user performs the intended actions that you expected.

While conversion rate is the percentage of users who end up buying your products out of the total number of visitors, Conversion Rate Optimization is the various tweaks you make to your websites and other elements in order to increase your conversion rate.

This tweaking can happen in different forms – by making the website more user-friendly, by revamping the website and especially the design of the landing page, by making the website faster, or even by fostering more customer engagement through the addition of chatbots into your sales funnel.

What is a Chatbot?


Image courtesy: Shane Barker

Chatbots are software programs that are designed to have conversations with human beings. These chatbots may or may not be assisted by artificial intelligence (AI). However, there are many applications with the ability to have conversations with human beings but not all are qualified as chatbots.

So, how do we differentiate chatbots from other applications? Based on how interactions take place!

A chatbot talks and then wait for the user to respond while the working of other applications is not similar. In other words, the conversation of a chatbot happens in a sequence (or order).

The other way to differentiate chatbots from other applications is identity. Yes, a chatbot has an identity. You can build a chatbot and give it any name and it will keep that identity throughout. For example, let us have a chatbot for sales named ROB. Anytime a user needs help in the Sales channel, only ROB will take over the conversation with him/her.


What are the Different Stages of Conversion?

You may be wondering how chatbots can make any difference. For that, it is essential to learn the different stages of conversion.

Awareness is the first stage when the visitor visits your website or social media page for the first time. This is your chance to grab the attention of the user, inform, and leave him/her feeling good enough about the visit to return.

Interest is the second stage where your chatbots feed your customers with more content, educate them about the benefits of your product and how it can make your life easier. Focus on their problems and explain in a subtle way how your product solves those problems.

Evaluation is the third stage where the user keeps track of regular updates and uses the information you send them through the newsletter. They follow you, read blogs, and return for more content. Chatbots’ performance here is critical as they can share the users with relevant content, offers, and resources to inform and educate your customers.

Commitment is the fourth stage when the user signs up for a free trial of your product. Here, a chatbot can be extremely useful as it can collect feedback from the users by asking them specific questions and give you clear insight.

Sales is the final stage when your user finally makes the actual purchase. Congratulations! 

How to Use Chatbots to Increase Conversion Rates

Now that you understand conversion, its several stages, and chatbots, it is time to learn the role of chatbots in conversion. Let us see how chatbots are used to generate leads and conversion rates for your business.

> Makes sales steps shorter and delivers a customized shopping experience

It can be a nightmare for customers to find out what they need in a shopping cart when the collection is either large or the service is complicated. In most cases, the steps to complete an order is too long. But this process can be made easier and even interesting if there is someone to support the customer. A chatbot can do that as it can help the user find items they want by asking questions about their wants and needs and segmenting them based on that information.

> Customize conversations with your audience

While some visitors arrive at your website through your online advertisements, others may arrive from your social media outlets. It means that every user is unique and lands on your website via different mediums. So, it is crucial to have the right, customized conversation with the user depending on where he/she comes from. Chatbots are the best option here as you can load up custom chatbots that interact with the users, depending on where they come from, delivering them a more personalized experience.


> Excellent customer support

According to Forrester, customer experience will overtake price and product as the key brand differentiator by 2020. Maintaining a high level of customer service is one of the biggest challenges faced by companies today. While it is difficult to find, hire, and train reps, the good ones are expensive. On top of that, customers are demanding immediate and 24/7 customer service. Here, chatbots can step in and serve customers with even the most complicated issues, answer the questions directly, send people to the right resources, and keep your customers happy by creating a positive atmosphere.

> Interview and help your leads to connect with the sales team

If a person (a lead) is browsing through your blog (one of the channels), you can deploy a chatbot that can collect more data. By asking a few questions, these chatbots can redirect users to sales pages or promotional offers, depending on their answers. Based on the type of the visitor and the answer he/she gave, you can profile your users and redesign your marketing strategy and see how you can convert your leads into deals better.

The possibilities of chatbots in conversion are endless. Apart from the possibilities given above, there are many more ways in which the chatbots can be used for conversion. You can use chatbots to engage more visitors, interact with the users in the language they speak, experiment with different conversation styles, improve your web pages and offerings, and funnel users to specific pages.

Opportunities and Challenges Associated With AI Chatbots


It is easy enough to say that AI chatbots can generate leads and improve conversions. However, the only way to know if this is true is to try AI chatbots yourself. But, how do you know which platform to try?

The thing is, there is no one-size-fits-all when it comes to marketing tools. The same goes for AI chatbots. Each brand has different communication needs. You need to find an AI chatbot platform that has the capacity to cater to those needs. Read social media consultant Shane Barker’s website for an extensive list and to learn more about chatbots.

The emphasis here is on capacity. AI chatbots can be trained and they can even learn and improve over time. However, they should be equipped with machine learning and AI to do so. The keyword here is “over time.” AI chatbots have the capacity to learn, but they need data and training to customize their responses so they can be useful in conversations with customers.

Some of the opportunities associated with AI chatbots include:
  • More efficient lead generation and qualification
  • Better customer engagement
  • Improved data collection and analysis
  • Increased marketing ROI
  • Faster A/B testing
For more opportunities, see the infographic below.


Image courtesy: Shane Barker

Conclusion

A conversion rate is crucial for any business. There are many things to be taken care of for that. Deploying chatbots to a website can be of extreme help here.

Chatbots will help companies with lead generation and conversion. You don’t have to follow the trial and error method to find out the most suitable method for your brand, as these chatbots will combine all the desired features.