Chatbot monetization: 5 reasons why chatbots are the future of E-commerce

5 reasons chatbots are the future of ecom
5 reasons chatbots are the future of ecom

Published by:

Eran Soroka


Chatbots are becoming much more common in a lot of industries, including healthcare, insurance, and e-commerce. Here are a few reasons why chatbots are making a big splash in the field of E-commerce globally, and why chatbot monetization becomes a popular trend.



The world has changed during the last year due to the pandemic in many ways. For many people, E-commerce has become the main option for necessities, and other items on their shopping list. E-commerce has gotten a major boost – but there are challenges of course. 



One of those challenges is the need to provide the ever-growing pull of customers with cost-effective support, around the clock. Hence, many companies realized that using chatbots is the best option to connect with customers – it’s faster, more efficient than hums customer service representative. It’s the future, and it’s here.



So, when talking about ways to use chatbot monetization, here are 5 reasons why chatbots are the future of e-commerce and a good way of monetization:



1. Storytelling



Not everyone can be a storyteller. When you create your chatbot’s personality you can tell your brand’s story. Your chat or voice bot will do much more than informing the customers of your products and services; it will educate them about your process and even your story, and help select the best fit out of your catalog. 

Your chatbot is your brand’s best ambassador, your best employee, and should be treated that way: it’s the only one that can talk simultaneously with dozens of thousands of people and never tires. So, like no company will ever open a store without a salesperson, and no business will have a callcenter with no representatives, a chatbot is an extremely important business channel.



2. FAQ



Customers have their own unique requirements and wants, but a lot of their questions are frequently asked ones. Instead of having a sales representative provide the same information over and over again, keeping them busy from responding to other, more specific questions and requests – A conversational AI agent, a chatbot, can cut down the time spent answering these. 



It can provide answers to FAQ’s, take all the information if needed and forward your client to the representative, that will be informed and ready to provide the best answer and care for each customer. If monitored well, you’ll be able to learn from your customers what are their most common questions, and provide your chatbots with the information to help your community better. 



3. Feedback



Feedback is the best way to grow your business. However, collecting it from customers is time-consuming and expensive. Moreover, not all clients are willing to share their reviews of your business or sometimes they can leave it on a public social media platform, and cause damage to your brand. With the help of your chatbot, the clients empathize and connect to your chatbot before collecting the feedback, and – if needed – connect a representative to the customer in real-time.
Great to know: The Feedback Loop is also the best way to deploy your chatbot. Here’s why.



4. Upselling



According to a Facebook survey, more than 50% of customers say they’re more likely to shop with a business that they can connect with via chat. It’s much easier to talk to a chatbot than to search across multiple pages for the right product; So if you’re a business, you can monetize your chatbot this way. Your chatbot can connect to your client’s needs and offer complimentary items without pressuring the customer. If they are undecided, the conversational chatbot can find the most appropriate options for them to choose from.



5. One-stop shopping experience



Chatbots in the organization are a way to deliver all your content in one single chat feed. Any kind of content you’d like to provide your customer – images, links, your story, catalog – it’s all in the same accessible place, provided in the form of a simple conversation. 

For many users, this is a great advantage. They will not get lost while visiting websites or downloading unneeded apps. And if the chatbots gets the right context – understands where the user is – it can also lead to a more personalized and tailor-made shopping experience.



Chatbots are an emerging technology, but are quickly becoming more of a common customer experience in many E-commerce fields. Join the revolution of chatbot monetization using chatbots, and upgrade your customers’ experience – today.