Have you ever imagined having a fluent conversation with an online store? Imagine being able to ask about products, get recommendations and make purchases, all through natural chat, just like you’re talking to a friend. Welcome to the exciting world of conversational commerce.
In these times when technology is advancing faster than ever, conversational commerce is emerging as an innovative trend that is transforming the way we interact with brands and shop online.
In this article, you will immerse yourself in the fascinating universe of conversational commerce, you will discover how it is impacting the market in Mexico and you will explore its relationship with M Commerce.
What is Conversational Commerce?
Conversational trading is much more than just a conversation. It’s about the smart integration of technology into our interactions with brands online. Instead of clicking links or filling out forms, you can now chat with chatbots or virtual assistants who understand your needs and guide you through the buying process. Imagine walking into an online store page and being greeted by a friendly virtual assistant asking how they can help you today. This seamless, personalized experience is at the heart of conversational commerce.
With the implementation of apps, peculiar services have been developed, such as conversational commerce that increases the confidence of consumers, who make their most select purchasing decisions, either through messaging applications and other technological services.
The ChatGPT artificial intelligence chatbot is a success story in this regard. This virtual assistant added around 100 million users in one month, making it the fastest growing large-scale language model developed by OpenAI to date.
The shopping experience is the key point to make a sale, since users want to belong to a brand and that it gives them the incentives to create loyalty, since they are increasingly selective where they make their purchases.
What should you learn from this? If you want to impact consumers, you must get them to interact more with your brand. You can start by having a presence on social networks or having your profiles constantly active in messaging apps.
A study carried out by Junior Research estimates that for this year the interactions with chatbots in the retail sector will reach a staggering 22 billion. Likewise, the study indicates that the total number of chatbots will increase from 3.5 billion in 2022 to 9.5 billion by 2026.
Benefits of Conversational Commerce
Personalized Experience: The algorithms behind conversational commerce analyze your preferences and shopping habits to offer you relevant recommendations.
Convenience and Speed: Forget about navigating endless categories. Request what you need and get instant responses.
24/7 Attention: Do you have an urgent question late at night? Conversational commerce is available at any time.
Friction Reduction: Simplify the purchasing process. No more tedious forms, just a natural conversation.
Conversational Commerce and its Relationship with M Commerce
Mobile commerce (M Commerce) and conversational commerce are intriguingly intertwined. The rise of smartphones has led to the growth of M Commerce, allowing us to shop anywhere, anytime. Now, combine this convenience with conversational commerce: you can chat with your favorite store while commuting on the subway or waiting in a cafe. The combination of these two trends is redefining how we shop in the digital age.
Conversational Marketing: The Path to Success
Conversational marketing is the perfect ally of conversational commerce. Brands are using marketing strategies that encourage genuine conversations with customers. Instead of bombarding with intrusive ads, conversational marketing is based on understanding customer needs and offering relevant solutions. This not only generates sales but also builds long-term relationships.
The future of conversational commerce appears to be filled with opportunities and significant changes. According to the perspective of the Mexican Association of Online Sales (AMVO), this approach goes beyond merely responding in messaging applications and focuses on creating stronger connections with buyers. The goal is to eliminate the perception that e-commerce is impersonal.
An important factor in this evolution is the influence of Generation Z, composed of young people aged 18 to 35, who represent a substantial 40% of transactions globally among individuals making purchasing decisions. These young individuals are highly active on social media and tend to avoid traditional media such as radio and television. For businesses, this means that it is essential to establish a natural and authentic online presence to connect with them in their purchasing processes.
In summary, the future of conversational commerce implies greater personalization, a stronger presence on social media platforms, and ongoing attention to the preferences and needs of consumers, especially those belonging to Generation Z. The creation of more natural and authentic shopping experiences is emerging as a key trend in the evolution of e-commerce.
Customer Service Trends
These are the trends that stand out when it comes to creating a customer experience:
- Accelerated Digital Transformation
- Omnichannel Approach
- New Payment Methods
- Self-Service
- Accessibility
- Speaking the Customer’s Language
- Concern for Sustainability (Today, new generations are concerned about knowing responsible companies).
- Personalization
According to Accenture, 91% of consumers are more likely to purchase products from brands that recognize them and provide incentives, such as timely offers and usage suggestions.
The primary goal of conversational commerce is to create an experience for customers that closely resembles shopping in physical stores, with personalized 24/7 assistance to address inquiries. These are key points that differentiate one brand from another, allowing for greater competitiveness.
It is essential to consider consumer needs in order to create pleasant experiences for users, foster loyalty, and tailor interactions to their preferences.
In conclusion, conversational commerce is not just a passing trend; it represents a fundamental shift in how we interact with technology and brands. From its relationship with M Commerce and conversational marketing, we are witnessing a revolution in the online shopping experience. Therefore, the next time you chat with a virtual assistant while shopping, remember that you are a part of the evolution of commerce in the palm of your hand.
