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5 Fail-Proof Techniques To Double E-commerce Conversion Rate


If you are in the eCommerce business, you'd know that the question everyone is asking these days is: How do you engage with the customers to enrich their buying journey? After all, you are only as good as your online reviews. The pandemic accelerated the transition to online commerce, and now more and more customers prefer online shopping to in-store purchases. 

Also, with surveys showing how D2C eCommerce will disrupt the next decade of retail shopping, the competition in the digital selling space is heating up. A digital transformation that caters to the customer's ever-increasing demand to be served is the need of the hour. One customer service study by Oracle found that lack of personalization and dissatisfaction with the buying experience makes 68% of customers leave without making a purchase. The bottom line, everyone wants to have a great buying experience.

Where To Engage Users During Their Buying Journey

Every customer's buying journey starts when they see an advertisement for a product they have been looking for. Then comes the first touchpoint with the brand – customers click and land on the product description page. Now, they have to make a purchase decision. So they begin to consider the brand's credibility, the quality of the product, pricing, reviews, discounts, and if the customers like what they see, click the buy button/add to cart, pay, and wait for delivery. But what if the customers have doubts over and above what's written about the product or have an unanswered question that will impact their buying decision? A few years ago, chatbots came into existence promising to take care of this very issue!

The Previous Wave of Chatbots Spectacularly Failed

Around two years ago, chatbots took the digital world by storm, fuelled by a widespread buzz around them. eCommerce companies bought into the promise of chatbots being able to help them bond with customers better, thereby enriching their buying experience. However, most chatbot companies only made promises and not great products. With more and more brands realizing that chatbots did not enhance customer experience, bots lost their luster. As a result, most marketers and brand owners now abhor the word 'chatbot,' though they're still looking for ways to attract customers and lead them to click the buy button on their site. 

In-store Shopping Experience v/s Online Shopping

Think of it – why do most people prefer to make in-store purchases?

Simple – the availability of personal assistance in the form of a salesperson. The salesperson accompanies the customer right through the buying journey until the customer feels satisfied, pays for the purchase, and collects it.

What role does the salesman play here?

The salesman shows the customer what they need and slowly takes him to an upselling point where he shows you additional products. A good salesperson makes the customer feel important, makes them feel they are making a good purchase decision by allaying his doubts, never over-sells, but assuring him of discounts and returns management, building trust. 

That is why in-store shopping makes people feel important and happy.

Now, let's compare this experience with a typical online buying experience.

Can you tell what's missing?

The human touch. The problems a typical online customer faces without a salesperson is:

  • Searching endlessly for the perfect product that they are looking for
  • Figuring out some way to compare other products and clear their doubts. To say it clearly, building product confidence 
  • Be unaware of the special discounts or offers
  • Not feeling cared for enough 

The customers are lost in a maze of products, scrolling up and down. Too much information confuses them. In this scenario, where we are looking to introduce an intelligent chatbot, things would be so different – a virtual salesman who helps the customer solve all the above issues!

In-store shopping vs online buying


High Website Bounce Rate? What Are eCommerce Brands Missing Here?

What online brands need right now is to get in touch with customers on their site, impact purchase decisions, reduce drop-offs and increase sales! In short, a solution to address the following pain points: 

  • Not able to clarify the customer's product-specific queries
  • Not able to support the customer's buying decision with enough info when needed
  • Inability to understand the buyer emotion and help accordingly

So then, how are eCommerce brands affected by this?

  • High rate of customer drop-offs in the middle of their buying journey because their query is not getting resolved
  • Customer, not convinced that it's the right product for them, hence they don't buy
  • Eventually, this leads to low website traffic
  • Lack of required info translates into low product confidence in the buyer's mind
  • Incomplete checkouts and shopping cart abandonments

The Secret Sauce To Increase Conversion Rate

By giving the customers what they want, of course! By anticipating their needs, smoothening their buying journey for them. People want an interactive buying journey and personal assistance – and eCommerce sites need to figure out the best way to do that. Let's see what the aspects of in-store shopping that online shopping sites need to master to sketch great buyer journeys are:

  1. Personalization

    Showing the customers what they want, leading them to make an informed buying purchase. Did you know, 80% of shoppers are more likely to buy from a company that offers personalized experiences.

  2. Make The Customer Feel Important 

    Tell them they are special – build brand advocacy by offering special discounts for loyal customers. Add human touches such as welcome greetings, reminders, and sneak peeks. In fact, 77% of consumers opt for, recommend, and even pay more for a brand that gives them a fab buying experience.
  3. Build Brand Trust 

    Inform them about the return policy, strew around positive reviews, inform them about exchange programs, make them believe the brand puts the customer first. 
  4. Cross-sell/ Up-sell

    Just like a salesperson would pursue customers to purchase more items, by making an educated guess about their needs, Virtual Assistants can also help customers find useful items they didn't know existed on site. (Cosmetic giant Sephora's 'Sephora Virtual Artist,' for instance, allows users to upload selfies and check out lipstick colors on their lips – this chatbot was a roaring success from day one)

Level 2 vs Level 3 AI Chatbot


But how do you go about creating such seamless and delightful buying experiences?

First, establish a presence where your buyers spend the most time - on messaging channels!

Next, how do you make this a scalable strategy that supports your e-commerce website?

Level 3 AI Chatbots - A Savior For E-commerce Sales

Statistics show that drop-offs of high-intent users happen when they are beset with doubts and are unable to get enough confidence to move forward. These users are interested in what you are selling but have a minor confusion point that is holding them back. Human-level assisted buying experiences are the best bet to allay the user fears even before they are born and give high-intent users the assurance needed to complete the purchase.

Recent advancements in Natural Language Processing have made it possible for automated systems to interact at the same level as a human. These technological breakthroughs have culminated into what is known as Level 3 Conversational AI, which has the unprecedented capability of holding multi-step conversations with humans. Such human-level chatbots can be a huge boon to e-commerce brands in terms of increasing sales. Here are some ways in which they can add value.

  • Help simplify customer buying journey: Chatbots can help amplify revenue by giving personalised buying journey with intelligent product recommendations on various chat mediums
  • Higher returns on ad-spend : Conversational display ads on social messaging channels have higher open rates and conversion rates resulting in better returns
  • Optimize your sales funnel with verified prospects: A chatbot can help you collect customer demographics, contact, and even note behavior patterns. It gives your sales team a pipeline of prospective customers.
  • Improve abandoned cart recovery - Research shows that the average cart abandonment rate across all Industries is 69.57%, with mobile users showing 85.65% drop-offs. Leveraging the high open rates of personal messaging channels brands can design tailor made retargeting campaigns that results in more checkouts and conversion rates
  • Help customers right through the year: Bots can always be there to guide and help customers. AI chatbots can work 24*7, can answer customer queries repeatedly, politely, clearing customer's doubts in seconds!
  • Give an overall feeling of excellent personalized customer service by recording customer feedback and grievances that requires human assistance and instantly transfer those queries to customer support agent
  • Up the customer retention rate: A satisfied customer never leaves – so, if your bot helps provide a great shopping experience for your customer, you can increase your retention rate and cut down on new customer acquisition costs.

LimeChat – A First-Of-It's-Kind Chatbot Powered By Level 3 Conversational AI

Okay, so, had chatbots lived up to expectations, they could have almost taken over the job of a real-life salesman by this time. A great AI Assistant can significantly impact the customer's buying experience by helping with product discovery and queries. On the other hand, it can help in post purchase re-engagement with customers, and retarget those visitors who left without buying. And E-commerce brands' search for a smart AI Assistant now ends with LimeChat.

LimeChat is the world’s first human-level chatbot, powered by Level 3 Conversational AI, tailored specifically to the e-commerce vertical. It uses state-of-the-art AI technology to understand customer queries, intent, and emotion to replicate an in-store experience across the website, WhatsApp, FB Messenger, and other chat channels. It integrates with tools across the e-commerce value chain like Shopify, logistics providers, CRM systems, product recommendation, and review apps to provide a quick and hassle-free setup for brands. Overall, LimeChat guides your customers from discovery to the recommendation to checkout, making their experience delightful and seamless.

"They learn and adapt from every conversation. This means that a conversational assistant based on Level 3 AI technology will learn what every demographic responds best to. It will curate its responses accordingly and deliver a fantastic experience to each customer".

A smart chatbot like LimeChat can track what products the user was looking for and through contextual insights help with funnelled retargeting campaigns. Not only it can answer product-specific queries of customers but also build much needed product confidence through reviews and testimonials that facilitates checkout. In the section below we discuss some of the proven and actionable ways through which Limechat is helping World's leading brands build an impactful customer-brand relationship.

5 Ways Limechat Can Help Double E-commerce Conversion Rate

1. Prevent Drop-offs 

With all the products and information overload on eCommerce websites, a virtual assistant can significantly reduce the hassle of product discovery for the customers. Limechat's Level 3 conversational AI helps design tailor-made customer journey on chat; based upon their preferences and needs and gives personalized recommendations. As a result, brands can instantly capture the customers buying intent when they land on the website while reducing the time and effort that customers put in while finding the right product. Make it easy for the customers to find the best fit product, and they will keep coming back to you. 

2. Build Product Confidence

Customers want to be 100% sure before making a purchase. They have product-specific queries which impact their buying decision like side effects, product ingredients, usage tips, and similar queries like these, which need to be answered. Limechat's best-in-class NLP mechanism can discover customer queries and intent with human-like precision and addresses pre-purchase concerns via chat. It's smart enough to know when to instill trust amongst the customers through product reviews, testimonials and build much-needed product confidence to facilitate checkout 

3. Seamless Checkout

Customer experience typically translates to how important and valuable you make your customer feel. There lie numerous ways and one of them is how effortless it is for your customers to browse products and make a purchase. Reduce bottlenecks in the customer buying journey, by delivering a superior customer experience to existing users through secure and seamless, one-click checkout on most preferred messaging channels. Limechat's AI Assistant can instantly fetch user details & shipping details through third party integrations, that prevent customers to manually put information every time they make a purchase. Limechat enables a complete end-to-end buying journey on chat channels in a minutes' time that increases the customer retention rate 

4. Recover Abandoned Carts

Reaching out to visitors who didn't make a purchase on your website is one of the most significant aspects of increasing the conversion rate. But the way it is normally being done through generalized campaigns, dealing with every customer through the same display ads does not translate to anything. Even if display ad targeting is being done based upon the landing pages the user visited or through pixel retargeting the personalization is limited. Brands are leaving aside the actual reason behind the customer drop-off, and rightly so because there is no way to identify that. But what if we say there is! Limechat's conversational AI lets you discover unique user insights through chat mediums that help brands target customers who dropped off, through personalized messaging. Segment users with different drop-off stages and design personalized discount campaigns, product launch campaigns, incomplete checkout reminders, and much more by taking care of user needs. Leverage social messaging channels like Messenger, WhatsApp, Instagram, which have higher open rates than display ads and email campaigns and drive better engagement

5. Retargeting 

Brand loyalty is not the same as before where your products superior quality and the results are the only decision-making parameters. With a wide variety of options available it's necessary for brands to be on top of the mind of users while the customer is in a decision-making process. With continuous re-engagement, build a better brand recall amongst existing customers, increase retention rate, and drive sales. Limechat's dashboard automation helps re-engage with users through various means by scheduling automated and personalised messages at scale. From reminding customers for the next purchase or making the brand's presence felt to existing customers through regular updates or banner ads on messaging channels. For example, design automated replenishment campaigns or engage via shipping updates, deliver win-back messages, share your company's latest offers; Limechat's conversational AI stores unique attributes about the customers that facilitates personalised re-engagement. 

 

 

All you need for a digital transformation of your online business is to use new technologies such as these to create mind-blowing customer experiences – and chatbots, in their new avatars, are the go-to tech for this. These days, companies that are doing great business focus on weaving human experiences around digital tech for consumers to reduce pain points and up perceived brand value. And for product-based online businesses, the key to reducing drop-offs and up revenue opportunities lies in getting a bot to sell your wares to the consumer without making the customer feel the absence of human contact.

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