Magento is one of the most powerful eCommerce platforms in the world.
It enables hundreds of thousands of companies and brands, allowing them to scale in the digital age.
But this scale comes with problems. Companies often struggle with growing pains. Bad customer experience, infrastructure, marketing effectiveness, sales crunches, and lackluster customer support contribute to their struggles.
These hindrances are key to explaining why only 8% of businesses manage to scale successfully. Companies struggle with scaling from start to finish.
This is largely a product of the current tools companies use for corporate-customer communications.
As it stands, you probably have a set of three tools you use to talk to your customers; Phone calls, emails, and social media.
As we’ve previously discussed, each of these tools represents a succinct failure in the way business talk to customers. They’re not used because they are the best solution, they’re used because they were the only solution at the time.
The internet is the most potent two-way communication interface in the history of humanity, but most companies just use it to blast out emails.
What is a Magento Chatbot?
This inefficiency mandates a change. And one of the changes that have become increasingly popular is Chatbots.
A chatbot is a software tool that helps you bridge company-customer communication gaps so you can talk to your customers in real time.
Aided by Machine Learning (ML) and Artificial Intelligence (AI), a chatbot can also talk to your customers when you’re not around, when your website is swamped with customers or when you’re just plain busy.
Much like with Magento, you can build a chatbot with no design or coding skills. A chatbot is as customizable as a website, both aesthetically and functionally.
You can use templates and custom flows to change the appearance of your chatbot. And once you’ve understood how chatbots work, you can change how their functionality too.
Regardless of where your customers talk to you from, catalog and engage with them from a single dashboard.
Advantages of a Magento chatbot.
A Chatbot represents several advantages for an internet based business.
Higher open rates (65%-70% vs. 10%-20% using email),
Wider sales funnels (20%-30% conversion rates vs. 1%-3% on typical websites) and
Shorter reply times (2-10 seconds vs. 30-360 minutes),
From simple analytic improvements to much broader improvements, a chatbot can help you find more prospects and better customers, in lesser time.
Verloop works with several large e-commerce platforms, so let’s start off strong.
1. make More Money.
Chatbots help you generate more leads. Companies who have used chatbots have seen between 30%-150% increase in leads generated.
This is because great lead generation reflects how humans, not computers, deal with information.
Most of our e-commerce customers saw improvements in conversion and sales overnight, simply because the bot ensured that their customers weren’t being left unattended.
The bots also allowed them to generate and qualify leads during the company’s off hours (at night, or during lunch breaks). This meant that every morning a sales team would wake up to sales that were aided while they were asleep.
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Hundreds, if not thousands of these potential leads come to visit your website and sift through your offerings every week. They’re greeted with a barrage of information about how you’re the best in your industry, and how many customers you have.
But is that what they’re really there for?
They’re there to ask questions, and get answers. They want to know more about that dress, about what the return policy is like and when the earliest delivery date is. But because they’re on a computer miles away, one of two things will happen.
- They will spend the next half an hour scouring your website to get that answer. (unlikely)
- They won’t get their answer and leave. (likely)
And when customers in your target market are left untouched, they eventually go to one of your competitors. Most of the time, to the one that answered their question quicker.
2. Save time
Nykaa is an Indian fashion and beauty e-commerce platform, valued at $450 million.
Prior to implementing Verloop, Nykaa customer service executives spent over 3,200 manhours a month answering and replying to support queries. This backlog leads to customers being left out on support islands with no one to help them.
More customers beached led to an increase in customer support tickets, that negatively impacted customer loyalty and in turn, the company’s bottom line.
Using Verloop’s conversational automation interface, Nykaa engaged 99.7% of all its customers in under 1 minute.
"We've noticed more and more of our customers prefering self-servicing over calls to agents. Understanding customer’s concerns/context is the key to an efficient self-serve. We have been collaborating with Verloop to drive this mission and have come a long way. We are confident of building a state-of-the-art experience where a lot of customer problems would be solved instantly over chat." - Gaurav Tejwani, Vice President - Products, Nykaa
Verloop helped Nykaa automate customer queries ranging from cancellations, returns, shipping inquiries, replacements concerns, refunds and payment hassles for over half a million customers on its app.
In just the first 30 days, the bot handled approximately 1.6 million unique conversations for Nykaa. Over 90% of the customers who participated in these conversations rated the Verloop bot as highly favorable or excellent.
3. Faster is better
Research by NewBreed shows that when companies take more than five minutes to respond to a lead, their odds of qualifying that lead decreases by 10x. Responding in 10 minutes, vs. 5, further decreases the likelihood of qualifying the lead by 400%.
And that makes sense. In a world of instant gratification where your friends and family are never more than five seconds or a text away, a business taking twelve hours to get back to a customer is nothing short of a crime.
Chatbots are far more efficient tools, allowing companies to field questions from their customers around the clock, 24/7, 356 days a year. Additionally, bots don’t take days off, don’t have bad days or compromise on customer service.
Apollo Munich used Verloop to shorten its Sales Cycle by over 3X.
In the modern age of the internet, businesses shouldn’t work just business hours.
4. Cross-Platform Performance
Our chatbots are both language and platform agnostic.
With Verloop, you can run your chatbot in any language you’d like, on most any platform you’d like. This could be an app, website or social media platform.
When it comes to building your website or hosting a platform for your business, traditionally web wagged its tail and mobile followed.
But that recipe no longer works, you can’t be either or when it comes to the web and mobile. The influx of social media into sales and support means you have a third prong that requires handling.
Chatbots can help you automate all three, delivering better results in lesser time across the board.
In an increasingly global economy, however, it is important to be able to speak your customers’ language. While many would suggest English dominates most interactions, technology allows companies to engage their customers with unparalleled customization.
Language is just another hindrance that reduces the efficiency of your sale.
If you can’t support your customers in the way they want, and in the language, they speak, you’ve already lost them.
How to build your Magento chatbot.
Building a chatbot on Verloop is easy. Using our templates, you can build a bot for almost any kind of business in under five minutes.
Below is a ready-to-use template for a Magento real estate business.
The end goal for all Conversational Sales, Marketing and Support is simple; Make business personal again.