What is Conversational Marketing and How Does it Unlock Revenue?

  • 1. What is conversational marketing?
  • 2. What are the benefits of conversational marketing?
  • 3. How conversational marketing grows your bottom line
  • 4. Tips for using conversational marketing in your business strategy

Customers have always wanted friendly and reliable services, but expectations are changing rapidly. Now they want brands to deliver more personalized experiences. 

Most importantly, they don’t want to wait days or even hours for a response. They want answers now and won’t hesitate to look for faster options.

So how can you meet these expectations? How can you deliver more personal interactions with your visitors and unlock more revenue for your business? 

This is where conversational marketing comes in.

This article will cover what conversational marketing is and how it benefits your business. We’ll also provide helpful tips to get your efforts on the right track.

What is conversational marketing?

Conversational marketing is all about having personal one-on-one conversations with your prospects. Instead of encouraging visitors to fill out a form and wait for a response, you’re engaging with them in real-time to provide the answers they need.

You’re using tools like live chat and chatbots to deliver more personal experiences. They offer a much faster way to help your prospects find what they’re looking for.

As an example, visitors to user.com can interact with a chatbot to get information on pricing and more.

(Image Source)

These types of personal and instant interactions are becoming increasingly important. Let’s look at why in the next section.

What are the benefits of conversational marketing?

Conversational marketing can help your company deliver more personalized experiences throughout the customer journey. You can deploy these strategies across different channels, including your website and even platforms like Facebook and Instagram.

Here are just a few key benefits of conversational marketing. 

It lets you provide on-demand customer service

Consumers don’t always make purchases right away. They search for information online or even ask their friends to help make their purchasing decision. But when they can’t find what they’re looking for, most will reach out to a company directly.

However, consumers today don’t have the time or patience to wait for answers. If you’re not readily available, your visitors will turn to other companies that can help. Implementing a chatbot allows you to provide immediate support no matter what day or time it is.

It helps you build trust and deepen relationships

Building relationships is the key to closing sales. If you attempt to push a sale too soon, you risk losing a deal and pushing prospects away to your competitors.

Just 48% of customers say they generally trust companies. By listening to your visitors and addressing their problems in real-time, your company can deepen customer relationships and build trust.

It enables you to collect valuable feedback

Conversational marketing provides an effective way to collect feedback. Once you help customers find what they’re looking for, you can end the conversation by asking them to share their experiences.

What’s more, working on data integration to interpret and analyze the data you’re collecting will help you understand your customers better. This will help guide decision-making and even inform future marketing campaigns.

How conversational marketing grows your bottom line

Conversational marketing can help your company provide on-demand services, build customer relationships, and collect feedback. But where it really shines is its ability to unlock more revenue for your business.

Here’s how conversational marketing can help your business generate more sales.

Make personalized recommendations

Customers don’t always know what they want. With a chatbot, you can offer personalized recommendations and lead visitors to a product based on their selections.

Here’s an example of a chatbot that American Eagle used on Facebook Messenger to interact with potential customers:

(Image Source)

Users could get personalized recommendations and even make purchases directly from the chatbot. Similarly, you can implement a chatbot on your website that can provide personalized recommendations to visitors. 

Score and qualify leads 

Conversational marketing can help you score and qualify leads. Lead scoring is a system that assigns points to leads based on their actions.

For example, if a visitor spends a certain amount of time on a pricing page, it indicates they’re interested in your offer. In these instances, you can reach out to these leads and offer assistance. This allows your sales team to focus on leads that are more likely to convert.

Shorten lead response times

When someone fills out a form on your site, they’ve expressed interest in learning more about your products or services. But you only have a short window of opportunity here. If you wait too long to follow up, you could miss out on a potential lead forever.

By using conversational marketing in the form of chatbots, customer requests can automatically be assigned to relevant team members within a task management system. If a visitor indicates they’re interested in pricing information while interacting with a chatbot, it can immediately connect them to a representative to follow up.

Scale customer support

57% of customers find long hold times frustrating when contacting a business. Long wait times reflect poorly on you and can even cause customers to consider alternatives.

Fortunately, you can scale your customer support using chatbots. By integrating a knowledge base with your chat support system, your agents can quickly respond to questions. This can help your company increase customer retention.

Tips for using conversational marketing in your business strategy

Conversational marketing can have a positive impact on your bottom line. But it’s important that you have a clear strategy first before diving in.

Follow these tips as you create a conversational marketing strategy for your business.

Make it easy for visitors to connect to a live person

Chatbots can help you deflect support tickets to frequently asked questions (e.g., What are your business hours? Do you offer a free trial?). Instead of answering the same questions again and again, your support team can focus on other, more important tasks.

However, 83% of customers still expect to engage with someone when contacting a business. If a visitor can’t find what they’re looking for, they should be able to transfer to a live person.

Match your chatbot’s tone to your brand

Chatbots are an extension of your brand. When you’re creating a chatbot’s “voice,” it should reflect your brand personality, whether that’s witty and casual or professional and direct.

For example, Mos uses a conversational tone with its content, as shown in this article on the best bank for college students. Using the same tone in its conversational marketing strategy will provide a more consistent experience for visitors.

Engage users on social media

A big part of conversational marketing involves leveraging chatbots. But that’s not the only way to have more personal conversations with your audience. Another great way to engage in conversational marketing is through social media.

Conclusion

The use cases for conversational marketing are practically endless — it can help you deliver more personalized experiences, qualify leads, collect feedback, and much more. If you’re not already leveraging conversational marketing, you’re missing out on a ton of conversion opportunities.