Digital Solutions: The conversational commerce Panel
What is conversational commerce?
Vaan recently hosted the NYC- Based event, Digital Solutions: The Conversational Commerce Series. Bringing industry leaders to the panel, they shared their experience in the world of conversational commerce and how merchants can successfully implement this into their framework. We pulled together some high-level resources to help you on your cCommerce journey.
"Conversational commerce, a word causing a lot of buzz in the digital space, is an omnichannel approach that leverages various forms of messaging with the intent to drive sales and build relationships between customers and merchants."
Offering a balance of personalization and efficiency for brands and merchants.
"Conversational experiences are an opportunity for brands and customers to connect. Under that umbrella, you have a couple of different ways in which this comes to life including conversational customer service, conversational marketing, and conversational commerce. The latter allows customers to shop with the brands they love, with the simplicity of using chat, voice, or text."
Dominique Essig, VP & GM of Conversational Commerce at Walmart
Digital Solutions: The conversational commerce Panel
What is conversational commerce?
Vaan recently hosted the NYC- Based event, Digital Solutions: The Conversational Commerce Series. Bringing industry leaders to the panel, they shared their experience in the world of conversational commerce and how merchants can successfully implement this into their framework. With the help of our friends at Attentive—the leader in text message marketing and conversational commerce—we pulled together some high-level resources to help you on your cCommerce journey.
What is conversational commerce?
“Conversational commerce, a word causing a lot of buzz in the digital space, is an omnichannel approach that leverages various forms of messaging with the intent to drive sales and build relationships between customers and merchants.”
Offering a balance of personalization and efficiency for brands and merchants.
“Conversational experiences are an opportunity for brands and customers to connect. Under that umbrella, you have a couple of different ways in which this comes to life including conversational customer service, conversational marketing, and conversational commerce. The latter allows customers to shop with the brands they love, with the simplicity of using chat, voice, or text.”
Dominique Essig, VP & GM of Conversational Commerce at Walmart
Where are we today and where do we expect to be in the future?
With new emerging technologies such as voice assistants and AI chatbots, the rise of conversational commerce is at an all-time high.
According to Attentives report, The State of Conversational Commerce in 2022, more than 81% of consumers have opted into at least one brand's text message marketing programs—a 26% jump from 2021.
Consumers have expectations when it comes to communicating with their favorite brands. We have seen personalization play a key factor in brand-to-consumer interactions, but according to Attentive, there are many more attributes to add to the list.
Current Trends in the Conversational Commerce Space
#1: The rise of voice assistance
Voice assistance is practically in every device you could possibly own. From phones, tablets, watches, and more - the ability for these devices to assist consumers in everyday tasks is only a trigger word away. The convenience voice assistance brings to the table makes this a go-to for product searches, business recommendations, making purchases, and more.
#2: Live Chat and AI Chatbots
Live Chat and AI Chatbots offer a different layer of convenience for both consumers and brands.
For Live Chat, giving consumers that human touch can help minimize the pain points of waiting endlessly for responses on product questions, billing, etc.
On the other hand, Chatbots are powered by AI. Yes, there is a lack of human touch within this implementation but the quick responses that can happen any time of the day allow for quick and scalable solutions for connecting with consumers.
“Today, customers jump between desktops, apps, and mobile web to shop with us, and conversational experiences will not be any different. People will jump to communicating with us from wherever they are – no matter where or what they are doing. The future is about talking, texting, and inferring what you need through conversation.”
Dominique Essig, VP & GM of Conversational Commerce at Walmart
Implementing cCommerce into your Digital Framework
When does it make sense for a merchant to pursue cCommerce?
“The most immediate benefit of a good conversational strategy is that it fills in the knowledge gap created by large-scale 1-way automation. ’I know you're having a sale, but when will it get here if I order today?’ Merchants should start investing in cCommerce when they reach a scale at which the volume of customer questions causes them to consistently miss conversion opportunities”
Tivan Amour, GM of Conversational Commerce at Attentive
How do we transform the conversation from creepy to concierge?
“The promise of DTC 2.0 was data. Terabyte after terabyte of data about our customers but in the end what have we learned? I’d argue we’ve gotten incrementally better at targeting customers based on broad interests - not radically different from brands pre-internet. DTC 3.0 will belong to the brands that leverage technology and shifting consumer behaviors to form thoughtful relationships with their customers and by doing so, raise the level of expectation for what makes an exceptional brand truly exceptional.”
Xavier Armand, CEO + Co-Founder, VAAN
How do we merge convenience and conversation?
The backbone of eCommerce has always been convenience. When you think of cCommerce and adding that additional layer to your framework it’s important to not lose sight of that. Understanding who your customer is from every angle
What are my customer's pain points?
Where do my customers go to address those pain points?
And then meeting them there with personalized solutions based on their individual needs.
