What is Conversational Marketing Definition, Tools, Statistics, Benefits in 2022
In B2B and B2C marketing, conversation marketing plays a bigger role. In addition, without any hesitation, conversational marketing becomes more important from the business perspective. To get the basic understating you should know the conversational marketing definition first.
Just the way communication procedures have seen numerous changes.
Now we see so many newer forms of marketing, management, business development and so on.
To survive in the competitive business world, it’s absolutely necessary to have knowledge regarding what is the newest trend going on.
In Addition, selecting the best of those to apply in real-life business situations.
Conversational marketing is one of the most significant trends that you cannot overlook, because if you do, who knows maybe your competitor might not and be one step ahead of you.
Conversational Marketing Definition:
Conversation marketing is easy communication and customer-driven marketing. It is one of the best marketing strategies to get better engagement, improve brand loyalty and sales.
It is said that the best way to start real-time conversations with buyers and customers as well as nothing but conversational marketing.
It’s also the fastest way that has the potential to move buyers through your marketing or sales funnels, by implementing the power of real-time conversations.
Not only does this type of marketing build relationships with customers and buyers, it will provide them with an authentic experience.
In traditional marketing, it is seen that people are forced to go through lead capture forms, then wait for days and whatnot.
Conversational marketing, on the contrary, will be using targeted messaging and chatbots that are intelligent enough, with a view to engaging with people, when they’re on the website.
Now, what’s exactly the motive of all of these? Well, pretty simple, the easier it will be for people to engage with your business, the more convenient it will be for you to convert more of the right leads faster, and the ultimate result is happy customers, along with a happy company.
Conversational Marketing Statistics
The biggest shift is that conversation marketing is becoming more popular and B2C love to use this system. Research shows that people want quick solutions and for that conversational marketing is the best possible solution to solve the issue.
1. More than 79% of the customers are willing to communicate with a personalized messaging app to get a quick result instead of traditional marketing.
2. According to Folloze Research, personalized marketing has a better relationship with the customer and 77% of B2B marketing and sales professionals believe that.
3. Companies see 10% of revenue after 6 to 9 months when they use conversational marketing in their website or chatbot.
4. Via the immediate chatbots support can offer conversational marketing and more than 86% of online shoppers give advanced customer support to the better result to improve the buying chances.
5. In COVID – 19 more than 58% adopted conversational marking to quick response for their solution.
6. 99% of respondents said, conversational marketing solutions were highly valuable for both customer and business perspectives as well.
7. More than 46% of the respondents say their engagement rates and business sales improved during the pandemic.
Benefits of Conversational Marketing:
The reason why people are talking about conversational marketing so much is that it provides us with some of the amazing benefits that help us maintain competitiveness in the business world. So let’s find them out.
1. Allowing You to Learn More About Your Customer:
In a way conversational marketing, you are enabling yourself to acquire such valuable and important insights and ideas about your customers that you might not have been able to acquire in some other way of marketing instead of it.
Being a part of conversational marketing, the customers are also willing to open up a bit and provide information honestly.
Also, conversation tools such as chatbots make it easier to monitor and observe customers and by keeping an eye on them, learn what type of questions they frequently ask.
So it can be said that everything that you have got to know about your customers will be easily accessible to you once you have started doing conversational marketing.
2. Discovering a new Source of Leads:
Conversational marketing is really engaging and it mostly uses chatbots that start conversations with potential leads.
In this process, by initiating human-like interactions, lasting relationships can be made with these leads and they can be encouraged by us to talk to sales reps.
One of the best features of chatbots is that they can pick out the best leads and direct them where necessary.
These chatbots will ask a wide variety of questions to the people and thus figure out which leads are the most valuable ones and after determining the supremacy, act according to it.
3. Creating a More Human Buying Experience:
When a person is buying something in a real-life marketplace, that person will always be welcomed by the salesperson and also be treated very nicely.
However, In traditional online marketing, this warmth of human interaction used to be missing out.
The customers could not have the scope to be in a humane situation. Moreover, there were issues like not being able to ask someone any particular query as well.
Thanks to conversational marketing and chatbots, the problem has been solved to a great extent.
Now when a person visits a website to buy something online, then he/she will be welcomed by a chatbot.
Also, that chatbot will be always present there to answer all of your queries regarding the product, service or anything else.
All of these combined actually create a veru+y beautiful human buying experience.
4. Shortening the Sales Cycle:
By implementing conversational marketing into your sales strategy, you can be assured of the fact that your sales cycle will certainly be shortened.
That’s because there are differences between traditional marketing and conversational marketing.
In a traditional way, the methods were like, lead capture forms were used which required the sales rep having to go and reach out to the lead.
Now in such a situation, there is no guarantee that the whole process is absolutely lengthy and time-consuming.
There won’t be any unexpected interruptions.
Actually, it happened as well in those situations, it has been seen that the customers lost their interests and businesses lost their valuable leads.
Now fortunately we don’t need to have this fear of losing leads due to the reason explained just now because conversational marketing is a process that is instant and enables us to respond in real-time.
5. Available 24/7:
Now we obviously don’t want to miss out on any single customer visiting our website but keeping connection with all of them manually is certainly a difficult task to do.
However, that’s the significance of conversational marketing, because it’s a service that will be present there throughout the whole day and continue providing service to customers 24/7, which is absolutely amazing.
Conversational Marketing Tools Examples
For conversational marketing, there are various types of conversational marketing tools.
However, we show the best types of conversational marketing tools which will aid to improve your business. So, Here are the types of conversational marketing tools examples:
1. Sephora’s Virtual Artist
2. Domino’s AnyWare
4. HubSpot Chatbot
How the Way Customers Buy is Influenced by Conversational Marketing:
Almost each and every one of us would love to communicate with messaging because not only is it faster and easier, but also it actually feels like participating in a conversation.
Unfortunately, traditional businesses mostly still force people to go through so many steps before a conversation can actually take place that lots of them get disgusted or cannot just hold their tolerance.
And in such a circumstance, a survey from Twilio finds out that 90% of the customers want to use messaging to communicate with the business.
So it’s really easy to visualize what’s going on here.
Now let’s have a look at how traditional funnels work these days. At first, the landing on websites takes place, which usually is followed by filling out a form.
Then there are becoming leads in CRM, getting scored and assigned a lead, calls, lots of calls, enrolling in email automation, responding to outreach, scheduling qualifying calls, sales calls and after all these, finally there might be a chance to talk to someone.
Recent surveys made by various organizations depict very clearly that these traditional types are not really working effectively since it is felt that business actually needs to be felt personally. And that’s why conversational marketing is so crucial in the current context.
The Key Elements of Conversational Marketing:
There are four key elements of conversational marketing, so, let’s have a look at these four important key components of conversational marketing procedure:
1. Conversations Happen in Customer Time:
It’s known to us all that being a marketer, there is no way you can overlook the convenience of your customers.
The same thing applies to conversational marketing as well. The general rule is always to try to consider the best convenient time for your customer and then tailor your conversation with them according to it.
Also, keep in mind that the conversation should proceed to maintain the pace of the customer.
Don’t make the mistake of being too fast or too slow that might irritate your customer.
Lastly, it becomes really helpful for customers if they can have the opportunity to pick up things right where they left off, and then continue whenever it’s convenient for them.
Whatever the situation is, the rule is the same, always give the best priority to your customer.
It’s your duty to get to know your audience and thus find out in which period they are free or available out there to listen to you or ready to have a conversation with you.
There is no confusion about the fact that if you cannot effectively figure out how to maintain the best optimum environment for your customer to communicate with you, then of course all of your efforts are going to be useless.
So try to be smarter to be able to be effective in conversations with your customers. Bring more and more personal feelings and vibes to them, but then again, at first, ensure that you are doing it at the right moment or the right time.
2. Conversations Are Scalable:
Remember that it doesn’t really matter how many customers are out there with whom you are doing communication.
The only thing that actually matters to them is whether they are being provided with the right solution to their problem.
They need to be served in a proper manner, and so businesses should never sacrifice human interaction only for scale.
3. Conversations Have Context:
Conversations cannot be introduced out of anywhere because that won’t be making any sense.
Before starting any kind of conversation with any customer, at first, it should be ensured that the customer is at least expected to have it.
For example, when a customer buys a new product for any occasion and after buying it, cannot use it, then the situation is like, the customer is expecting to have a conversation with the service provider.
Another thing here to keep in mind is that context is actually what makes conversations convenient.
Don’t forget the fact that each and every one of your customers want to get done with their problems as soon as possible and that too with the least amount of time.
It’s absolutely difficult to maintain context in each case and serve the customers with the proper supervision and consistency as well, but there is no alternative other than doing it anyway.
So you should start collecting and storing necessary customer data as much as possible so that those might be used to create adequate and effective service in the future, that will keep the customers happy and maintain the good word of the company too.
4. Conversations Meet Customers Where They Are:
Conversations are needed to take place in the particular channel that best suits your customers.
Since people will always be willing not to call a 1-800 number and rather be interested in sending a quick chat message to have a personal level conversation, not only you have got to maintain the personal level communication vibes, but also you will have to find out the best channel to do it too.
Once you incorporate conversational marketing definition and the other parts of marketing strategies and more. Then you can be assured that this will certainly pay off. This amazing marketing trend is being used in lots of platforms and the users are providing so many great reviews. That’s because it’s really a creative solution to the modern problem and it’s effective in serving the purpose as well.