Posted: 05 May 2020 Contributor: Matthew J Fritschle
Conversational Marketing Statistics For 2020 To Help You Boost Conversions
In the current marketplace, customers have many different choices concerning the ways they communicate with businesses; of which live chat and conversational bots are becoming increasingly popular. They offer support, recommend products, connect you to relevant employees and answer frequently asked questions immediately, saving the customer time and effort. As opposed to having to wait on the phone, send emails, or take hours filling out forms, consumers can now engage with businesses through messaging channels that feel more natural and efficient.
While still a relatively recent concept, conversational marketing is a quicker way to move buyers through your marketing and sales funnels. It builds relationships, fosters trust and creates authentic experiences with customers. So, just what is conversational marketing, and how can you implement it successfully?
The Benefits of Conversational Marketing
Instead of forcing people to go through lead capture forms and wait days for a response, using targeted messaging and intelligent conversational marketing chatbots to engage with people when they’re on your website gives customers what they want, when they want it.
This makes it much easier for people to engage with your business as well as find and convert better leads more effectively. Conversational marketing is a way to engage with customers on a more personal level that has the potential to provide a better overall customer service. Which means you have happier customers and a company that is set to see greater levels of growth. The trend of conversational marketing is seeing marked success in recent years, something that the statistics are currently supporting emphatically.
15 Conversational Marketing Statistics For 2020
Conversational marketing trends have been on the rise for several years, with 2020 set to be no exception. These simple statistics illustrate not just how, but why conversational marketing trends have seen such a meteoric rise in recent times, as well as the reasons why it is set to continue on this way for years to come:
1. This year, conversational marketing will be viewed as a recognized channel for generating revenue and conversions regarding both B2B and B2C businesses.
2. When asked about the next conversational marketing trends, the given answers concerned consumer personalization (29%), AI (26%), and voice search (21%).
3. Just under 50% of all adults in the US now use voice assistants to talk with smartphones and other devices, emphasizing just how important this form of marketing is becoming. Again, this figure is only set to increase with the coming years.
4. In today’s world, more people now use messaging apps to communicate as opposed to social media, illustrative of why this trend has seen recent increases.
5. 80% of businesses are expected to have some form of chatbot automation instilled into their company by the end of the year.
6. 86% of online shoppers prefer proactive customer support, something that conversational marketing chatbots can offer immediately.
7. Nurtured leads, the kind influenced by conversational marketing has the capacity to increase sales opportunities compared to neglected ones.
8. 79% of top-performing businesses have already been using some form of marketing automation in order to generate larger numbers of leads over the previous three years.
9. By incorporating a quiz-like form or structure as a means to capture customer information has the potential to triple your conversion rate.
10. Companies who are already automating lead management and conversational marketing witness a 10% increase in revenue after a 6-9 month period.
11. People finish conversational forms 3.5 minutes faster on mobile so ensuring that you’re fully optimized on this platform is crucial to ensuring customer satisfaction.
12. Conversation marketing trends will replace a combination of different parts of marketing, sales and service activities as the technological capabilities advances.
13. 79% of consumers are willing to use messaging apps to get customer service from companies as opposed to more traditional forms of communication.
14. 82% of consumers see getting an immediate response as very important when they have a question, something conversational marketing chatbots are very effective at providing.
15. 36% of companies are now using live chatbots functions for marketing, sales or customer service inquiries on an everyday basis.
Conversational Marketing Examples
When it comes to incorporating conversational marketing into your everyday approach, it can help to draw inspiration from some successful examples. So, here are 3 companies who nailed their approach to conversational marketing:
Spring: Essentially, Spring reinvented the role of a personal shopper with their chatbots. Interacting with their bot first involves answering some questions to narrow down your interests, style and price range from which they can provide tailored recommendations. While many eCommerce sites have a large amount of products to choose from, it can involve users having to search for hours to find exactly what they want. With conversational marketing, Spring were able to cut all this wasted time out and provide the feeling of receiving intimate levels of attention.
Sephora: Makeup and cosmetics company Sephora combines their conversational marketing strategies with geolocation to bring people into their physical locations. With their Messenger services, users can communicate with the company to automatically book a service following which they will be supplied with a number of nearby stores for them to utilize. By using Messenger services this way, Sephora are not only able to stay front of mind with users, they are able to actively encourage conversions.
RapidMiner: RapidMiner effectively used conversational marketing to filter their audience and only communicate with the best possible leads. With many site visitors they couldn’t waste time talking to everyone therefore they engaged only with the people most likely to convert. Through using conversational marketing, they could ask similar qualifying questions to those of their sales team, from which meetings could be automatically scheduled. This greatly streamlined the process and helped to increase conversions.
How Conversational Marketing Can Be Used In Your 2020 Marketing Plan
The state of conversational marketing is changing and customers now expect to be spoken to a certain way by businesses. The way they are interacting with them is changing rapidly as well. With voice searches rising year on year as well, having conversational elements to your marketing is now crucial in order to separate yourself from the competition. With more and more customers coming to expect it as standard practice, finding the right conversational search strategy for your business in 2020 could be the difference between engaging with only quality leads or wading through every single one to see if there is a possibility of obtaining a conversion.
As more companies continue to implement various types of conversational marketing on their websites and social platforms, customers will expect bots to be a highly valuable and efficient resource for them to interact with.
Creating an effective conversational marketing strategy that affects everything from lead generation to conversions to customer satisfaction could be a determining factor in staying alive in what is set to be a difficult 2020 for many. If this is not already a part of your digital marketing strategy, you should be making plans to do so immediately.