Conversational Commerce in FMCG: 2021

Surbo
Insights

Conversational Commerce is a created service of e-commerce to explore offering to make transactions and receive services or help with their purchases, where brands and consumers meet at a point to communicate their views through live representatives and AI assistants.

Consumer satisfaction is important and solving their queries is an integral part of the organization so here the conversational commerce provides this service letting customers ask questions and business answering the same.
By incorporating AR, intelligent chat platforms, and sentiment analysis, both with natural language and computer vision, conversational commerce is poised to disrupt the e-commerce industry in a big way. It also gives brands an opportunity to provide the kind of instant, personalized advice that better satisfies consumers and helps them feel more connected with that brand.
Conversational commerce is a consumer-facing industry that will revolutionize; this is beyond an interface or adding a channel in the omnichanel world. It will be a newly set up that will enable the brand to create a relationship with customers and an effective way to communicate.

Brand Consumer Relationship
Before, brands needed to rely on things like phone calls, emails, live chat, and in-store representatives to actually talk to and provide convenience to this kind of consumer. Today, messaging not only offers an easier access point and is affecting consumer expectations across every channel it’s also giving brands an easy avenue to automate and personalize decision support for purchases in a conversational way.

Conversational commerce lets brands sell more
Many brands use the live chat or in-app messaging interfaces to connect representatives with consumers in order to address traditional customer service functions. At the same time, they also use this as an opportunity to cross-sell and up-sell to consumers.

This has been common customer service practice for decades, which doesn’t necessarily leverage all the access to consumer requests that messaging has to offer.
By entering the conversations you have with consumers around product discovery and providing recommendations, you give your brand the opportunity to easily scale a better experience.

Conversational commerce came up because everything was turned up online because of corona era so it was beneficial for customer so. This new era of customer engagement driven by smartphones, AI and cloud computing is one in which companies can interact with consumers in more human like ways and resolve problems with much better efficiency Domino's Any Ware is a great example. It allows customers to order pizza via Slack messaging, text and Facebook Messenger, as well as with voice using Google Home and Amazon Alexa assistants. This type of intuitive interface makes buying more convenient for customers and gives them a seamless, personalized experience.
Even everything was turned up completely from offline to online especially FMCG industry here the products were booked online and the brands provided on the doors of customers and even the payments were online.
To excel at conversational commerce, companies should know their customer and be prepared to invest time, effort and collaboration across a variety of disciplines inside the company.

Fraud will decrease
B2B companies think they need gated content to acquire prospect information because that’s how they’ve always done it. Unfortunately, people today don’t trust web forms like they used to. Worse, spammers working for click farms in foreign countries fill out web forms with fake information, leading marketers to waste their time filtering through nonexistent leads.

Higher quality of life to employees
Conversation bots that handle customer questions free employees from their desks, allowing people to respond to more complex messages with less anxiety. However, when employees have intelligent conversation bots to help them delete work that doesn’t add value to their daily lives, they are less likely to suffer from burnout and more likely to identify new opportunities to drive growth.

Businesses will embrace hybrid workforces
Conversation bots aren’t coming to take human jobs, they’re coming to make human jobs easier and more productive. Employees won’t just gain productive tools, though. Conversation bots can act as extensions of the workers themselves, taking on unique personality traits and reflecting workers’ tones and senses of humor. The future conversation bot will be more than a speaking repository of information; it will be a natural extension of its coworker.

Conversation changing Customer Relationships
Companies today spend tons of money on ad campaigns to boost their web traffic. Unfortunately, most ad-attracted visitors bounce quickly once they arrive on the brand’s website. Conversation bots can also recognize purchase intent based on ad campaign metadata to start or continue conversations that build Customer Relationships.

Conversation commerce in future
B2B companies will democratize bot-initiated conversations-
Brands in the future will use and democratize conversation bots, implementing them across multiple departments, including Sales and Marketing. Sales will use conversation bots to qualify leads, as covered earlier.

Many people don't trust online commerce. They still prefer to buy products offline. The reason behind this distrust is when they buy from a physical store, they have a real person that interacts and guides them. Whereas, E-commerce businesses lack first-hand customer support, which many buyers prefer while making a purchase. The service provides interaction with the website visitors as they land and bridge a two-way communication with them. Hence, with the first-hand conversation, it gets easier for buyers to ask their queries, get answers in real-time, and place an order. From the brand point of view it is Fast, Reliable, and Cost-effective Customer Supports remain available for 24*7, and they respond instantly as a user asks a query.