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HomeRise in Voice commerce & The Role of Conversational AI in it
Bot Builder, Conversational AI
RISE IN VOICE COMMERCE & THE ROLE OF CONVERSATIONAL AI IN IT
Written by Girish KarthikMarch 31, 2022
“Hey Alexa, buy more detergent powder”
That’s mostly it and you’re done shopping! Over the past few years, e-commerce
has evolved to be one of the primary modes of shopping. And now, consumers don’t
even have to sit and type names to search for products and services. According
to the Digital 2021 report, the increases in e-commerce adoption since the start
of the COVID-19 pandemic show no signs of abating, even as movement restrictions
come and go.
Lockdown-inspired behaviors have also endured, although people are slowly coming
out of their homes. For example, almost 3 in 10 of us (28.3%) now buy groceries
online every week, with the absolute number of online grocery shoppers
increasing by 10% in just the past 6 months. Data from GWI shows that nearly 6
in 10 working-age internet users (58.4%) now buy something online every week,
with that figure continuing to rise throughout 2021. For context, the latest
data indicate that 424 million users started their social media journey over the
past year, equating to an average of more than 1 million new users per day, or
roughly 13½ new users every single second.
What does this mean for business owners who are still unsure about their voice
commerce strategy? Adoption.
Industry observers say that easy orders are just the tip of the iceberg.
Conversational shopping very soon will become a lot more immersive and
personalized. It’ll be like a personal attendant who will take care of all the
shopping needs of consumers. As such, it looks like voice shopping is here to
stay because apart from helping consumers shop as and when they remember, it is
saving them time and effort as well. Virtual assistants such as Amazon’s Alexa,
Apple’s Siri, and Google Assistant are examples of voice assistants that are
successfully handling voice queries.
BENEFITS OF VOICE COMMERCE:
There are proven and emerging benefits of voice commerce for both consumers and
business owners including:
Personalization – No prizes for guessing this one. Today’s consumers are
ferociously demanding of personalization. Since voice commerce is mainly driven
by data, it enables consumers to list their choices, get answers to their
questions and recommendations based on their shopping behavior to complete their
shopping quickly. For business owners, it can translate into insights for
developing new products that satisfy consumers’ needs and implementing marketing
strategies that create a preference in the minds of customers for their products
and services.
Convenience – Voice shopping allows consumers to multi-task. It helps them get
quick answers, clear confusion, and enable them to shop faster while tending to
other tasks. With an assistant at their beck and call, the daily routine of
consumers becomes easier to handle. One of the most basic advantages of adopting
voice commerce for business owners is the ease of adoption. With the right
technology partner, there is no complex software or setup needed.
Safety – Voice commerce is making its way as a verification tool for safe
checkouts. Because it makes it almost impossible for theft to occur, shoppers
get their peace of mind. Business owners also benefit by having to worry less
about keeping up with compliance regulations.
Loyalty – This is for business owners, mostly. For example, a customer loves
Rothy’s shoes. Whenever she needs shoes, all she has to do is use Rothy’s voice
assistant to suggest options based on her preferences, narrow down her choice
and even assist in closing the purchase from her favorite brand. The consumer is
happy and the Brand retains its loyal client, providing an extra layer of
convenience to the overall experience.
With more and more evidence that points out an increasing usage of voice
commerce by both businesses (especially the large ones) and consumers, brands
will benefit by looking where voice assistants can improve the consumer journey.
A piece of in-the-moment advice on cooking, for example, could smoothen the path
to purchase. Not being able to deploy their voice assistants is no longer a
challenge for enterprises because today, there are solutions available in the
market that can be deployed per their specific needs. These enable them to
interact with the modern consumer with their multilingual capability,
understanding of the nuances of languages to help businesses to cater to a much
broader customer group.
OKAY GOOGLE, WHY SHOULD BUSINESSES IMPLEMENT VOICE COMMERCE?
To quote this report, a voice-search option is turning out to be highly
lucrative for online businesses. So much so that many of them are upgrading and
optimizing their e-commerce websites to work with voice. Juniper Research gave
an insight – voice-based ad revenue is projected to reach $19 billion by 2022.
As mentioned above, Voice-driven shopping helps brands share personalized
suggestions and accelerate business on their websites. A voice assistant can
also remind consumers about products they’ve bought earlier and may want to buy
again.
A study of voice-based online buying practices conducted by Coupon Follow found
that:
* Online shoppers who used voice spent an average of $136 more than people who
solely shopped online
* About a third of “avid online shoppers” use voice to buy something at least
once a month
Implementing a voice bot is simple, thanks to advanced technology-based options
that are available today. Creating a custom voice bot can take months of hard
work and high costs. It is faster and easier to engage a partner who understands
the market and can deploy a voice bot per their specific needs. What’s even
better is that there is zero need to understand coding to enable voice commerce.
Sensibly designed Low-Code Voice Builder platforms like assit365™, makes
building AI-powered bot easier for business owners. All you have to do is to—
1. Choose from premade templates to make the bot builder’s job simpler
2. Drag and drop the conversation modules based on your business requirements
3. Deploy and test the bot
4. Easily share with your team, collaborate, and complete the bot.
5. Deploy the bot on your website, app, and on other platforms.
IN SUMMARY
Research from GWI reveals that the “typical” global internet user now spends
almost 7 hours per day using the internet across all devices. Imagine now the
experience that Brands can deliver by injecting the right solutions at the right
time coupled with an instant voice-based shopping facility. Voice assistants are
increasingly becoming a part of consumers’ daily lives. The age of touch is now
shifting to the age of voice. When bigger brands like Amazon and Walmart are
using this to make shopping easier for their consumers, smaller businesses, too,
must adopt it now because consumers are going to expect the same from them very
soon.
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conversational ai for business, customer experience, ecommerce
GIRISH
A tech enthusiast who always loves to learn and share about new technologies.
Might have seen him on many WordPress tutorials and tech review articles. Apart
from tech, he loves nature and always tries to live up to his word "I have
everyone in my dream and one day my dream will become everyone's dream."
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