9 Key Features Online Retailers Need in Their Conversational Commerce Platform

Consumers are more demanding than ever before, now requiring personalized experiences, lightning-fast response times, and effortless transactions. Conversational commerce platforms offer a powerful means to fulfill these objectives, and this level of smart automation is here to stay. Let's examine some of the most important features to look for and the benefits of each.

Were you aware that 67% of consumers now prefer to use chatbots when addressing common questions, or if they wish to establish contact with an online business? While this is great news, not all conversational commerce platforms are created equally. This is why stakeholders need to know the key indicators that signal a quality service provider.

Core Features of an Effective Conversational Commerce Platform

1. Advanced AI and Generative AI

Both generative artificial intelligence (AI) and conversational AI are now being used to offer detailed responses to customer queries in real time. However, these terms shouldn't be used interchangeably.

Generative AI is capable of coming up with original answers when prompted. Conversational AI involves fostering two-way interactions with clients, and responding to their queries with a set of predetermined answers. The main goal is to provide meaningful interactions, resulting in higher engagement rates and more satisfied customers.

2. Seamless Chatbot to Human Escalation

Although these chatbots are extremely advanced, they aren't intended to remove humans from the customer service loop. Instead, they should be used as stop-gap measures when dealing with common questions or complaints.

There can still be times when a certain issue cannot be adequately handled by chat platforms, and in such cases, the conversation should be transferred to a live human agent. Complex billing questions and inquiries about a newly released product are two possible examples.

3. Easy Integration With E-commerce Systems

Smart messaging apps, or platforms, are only as good as their ability to integrate with current ecommerce technology stacks. It makes little sense to commit to a product that clashes with existing knowledge bases, CRM systems, sales reports, or product catalogs.

Whether referring to third-party platforms such as Salesforce or Google Analytics, seamless integration will help to ensure that in-house operations aren't negatively affected. Chatbots and similar messaging apps should always lead to greater in-house efficiency.

4. Personalization Capabilities

Personalization is, without a doubt, one of the greatest benefits of conversational commerce. Generic marketing techniques are no longer enough to keep customers coming back. Shoppers want to feel as if brands and retailers are catering to their unique needs; a goal that traditional chat platforms have always found difficult to achieve.

Thanks to the dawn of both generative AI and conversational AI, automation and personalization are no longer mutually exclusive terms. Both can be used in tandem to increase customer satisfaction, ensure brand loyalty, and drive sales.

5. Multichannel Support

Consistency is key within the fast-paced world of ecommerce and customer relations. Businesses must be able to provide a seamless end-user experience across multiple channels. Some common examples include:

• Website chat widgets
• Dedicated mobile apps
• Third-party channels like WhatsApp
• Social media pages

Clients who are provided with multiple support channels will be more likely to engage with the company, once again resulting in satisfying experiences and positively impacting the brand's reputation. Also, customers who are satisfied are more likely to share this feedback with others, and word of mouth is a powerful tool.

6. Real-Time Analytics and Reporting

It's always better to ask "how are we doing?" as opposed to "how did we do?". Real-time analytics provided by conversational commerce platforms provide brands and retailers with necessary insights to make actionable changes.

For instance, when a specific promotional strategy doesn't appear to be producing the desired results, practitioners can interpret the analytics, like client feedback or user action, then modify their approach to improve performance.

7. Automated Workflow: AI-Powered Agent Desk

One of the key capabilities of any well-designed conversational commerce platform involves the ability to automate repetitive and time-consuming tasks. Manual data entry, answering numerous emails, and addressing everyday queries are three well-known examples.

AI-powered agent desks can now automate many of these processes, freeing up valuable time and allowing representatives to focus on other important business concerns. Also, rapid response times associated with AI chatbots can help ensure that customers aren't forced to wait for a response. In other words, automation benefits the company as well as the shopper.

8. Scalability and Flexibility

The world of e-commerce is far from static, so it makes little sense to work with a software bundle incapable of adapting to the changing needs of a business.

Here are some examples of situations that demand an agile approach:

• Expanding operations into a new region
• Onboarding additional employees
• Introducing new products or services
• Changing CRM providers
• Accepting new forms of payments

In any of these cases, cutting-edge software will help to guarantee that ongoing operations aren't negatively impacted. Agility is the key to success.

9. Security and Privacy Measures

Recent studies have found that 68% of all consumers are extremely concerned about online privacy and security. Regulatory organizations are also taking these issues seriously.

One recent example involves the AI Act, in relation to generative AI compliance. Businesses must also adhere to the latest data protection regulations. One of the functions of a quality conversational commerce software platform is the ability to keep important information protected from unauthorized third parties.

Benefits of a Robust Conversational Commerce Platform for Online Retailers

The examples of conversational commerce elements that must be present should now be clear. So now we ask, how can these advanced bots benefit both consumers and businesses?

Driving Sales and Revenue Growth

In terms of the bottom line, businesses are primarily concerned with the return on investment (ROI) associated with conversational commerce platforms. Simply stated, satisfied customers are paying customers. They're more likely to confirm an initial purchase and to engage with the company in the future. Let's look at an example.

Sideshow is a global specialty manufacturer of pop culture products. Due to this niche demographic, their original, traditional chatbot found it difficult to provide targeted answers to specific queries.

After deploying an AI-powered chatbot, they enjoyed a five-fold increase in conversion rates and 88% of customers were satisfied with the automated answers provided by the conversational commerce functionality.

Enhancing Customer Engagement and Satisfaction

While revenue is an obvious concern, customer loyalty is even more important in the long-term. The use of advanced, AI-enhanced bots, smart social messaging apps, and targeted automated responses will result in more positive end-user experiences. While convenience is king, personalization is just as relevant.

Those who feel that their needs are being adequately addressed are much more likely to remain loyal. The advanced features within modern conversational commerce bundles now provide a level of interactive intuition that was virtually impossible in the past.

Choosing the Right Conversational Commerce Platform

Some stakeholders might still be wary about adopting a conversational commerce strategy due to a myriad of available options. What factors should brands and retailers look for to ensure they make the right decision?

Evaluating Vendors and Solutions

The first step involves ascertaining what each vendor offers. Flexibility is key, as the services provided must match the business model in question. Here is a quick checklist that can simplify things:

• Clarify your business objectives (such as driving sales, increasing customer satisfaction, or improving the shopping experience)
• Define the most practical uses for the chatbot and how these will be applied to the customer journey
• Identify key features including supported languages, tone of voice, the type of product information offered, and the target market
• Only work with products that comply with the latest security regulations
• Highlight the KPIs that you want to continuously track

E-commerce brands and retailers should also consider working with a vendor capable of providing case studies proving success. These will demonstrate the real-world applications of what they claim to be offering. If they're unwilling or unable to highlight such information, make it a point to look elsewhere.

Implementation and Integration Tips

We need to remember that the usefulness of any conversational commerce chatbot depends on the amount of data that it can access. Without relevant information, responses will be limited, and the satisfaction of shoppers may be sacrificed. This is why seamless integration with product KPIs, CSV files, public URLs, in-house databases, pricing models, and product catalogs is crucial. Also, the system should be able to work in conjunction with existing ecommerce software, like third-party CRM platforms.

The good news is that quality vendors have structured their conversational commerce platforms around these very same metrics. Contacting a trusted provider is a great way to appreciate the finer points, and to determine whether their services match the ongoing needs of your business.