No more abandoned carts: Conversational AI to the rescue
With peak shopping season looming close, abandoned carts continue to be a recurring nightmare. It became a millennial pastime during the pandemic in 2020 — with a 94.4% cart abandonment rate on average for the retailers.
Had these abandoned carts converted into actual sales, what would the numbers look like for your business?
Paralysis of the pandemic and user experience
During the pandemic, brands have rapidly lost existing customers because of abandoned carts. This, of course, stems from the poor user experience — high pricing, unfriendly user interface, technological glitches, lack of payment options, and so on.
During the pandemic, retailers like Walmart, Amazon were able to pivot and experienced steady traffic growth because they improved their online platforms and developed a thorough understanding of customers’ needs and preferences.
Conversational AI: Tech-Tonic shift for retailers
Abandoned carts tend to signify one massive problem: customers don’t feel like they’re heard, which translates into an unpleasant user experience. Introducing regular chatbots won’t help matters either. Chatbots usually provide generalized and staccato responses, which leave the customers dissatisfied.
Enter virtual sales assistants powered by Conversational AI . They’re smarter, intuitive, and engage in both push and pull type transactions. They’re able to convincingly mimic the full range of human emotion and provide a personalized, empathetic and effective solution to every website or app visitor.
Good Conversational AI like virtual sales assistants can provide solutions to the customer and feedback to itself in real-time. It’s powered by machine learning and natural language processing, enabling them to understand and respond to text and spoken words like humans.
From a business standpoint, a solution like a virtual sales assistant can be easily scaled and trained. From a cost standpoint, virtual sales assistants can be made available 24×7 for service, and they have the capability to handle complicated requests, transactions, and orders by themselves. In fact, they have been known to reduce customer service costs by 30%.
Conversational AI is a crucial part of digital fulfillment, linked to winning new customers who might have previously preferred local stores. In sum, with Conversational AI, your company can reduce abandoned carts, bump up sales when engaging with existing customers, and are in turn able to attract new customers.
The way forward
The best part is that Conversational AI is an evolving system that constantly learns to create more human customer interactions. CoreView understands this and is aware of how this translates to more engagement and therefore, more sales. Our solutions can save your company millions of dollars annually and increase your sales exponentially by capitalizing on the latest technology.
Want to know more about how CoreView can help you integrate a conversational AI solution into your business ecosystem? Drop us a line at – info@coreviewsystems.com for a free strategic consultation.
