Conversational Marketing: the Role of Conversations in Business Strategies
Markets, from this real-time point of view, are transformed into real conversations. Indeed, building a valuable relational context with customers, based on continuous dialogue, it has become even more important to companies.
How to conduct this constant flow of information and content?
With conversational marketing.
Conversational Marketing & Communication Strategy
Within the communication strategies, conversational marketing involves an important step: from top-down logic - the classic one-way business communication - to conversational communication.
Messaging apps are the ideal place for dialogue, which allows companies to learn about the life of its products. Each user, within this communication exchange, should be considered as a segment: hence the importance of creating tailor-made promotional messages, based on the data acquired in the context.
This is precisely the area in which conversational marketing operates and acts: the 1 to 1 relationship. Digital marketing has created a saturation of content, often not very relevant. The only way to get attention from users is to be useful, by ensuring that people are looking for the brand and not vice versa.
However, you must never forget to act with caution: messaging apps are part of a sphere that is still considered private by users, who are accustomed to use them to talk with friends, colleagues or family members.
For this reason too, brand messaging or conversational marketing must always start from a real need of the users, thereby offering added value and an extra reason to be part of what, after all, is the most interactive of actions: the conversation.
The Advantages of Conversational Marketing
We're at a crucial point now. Although the reasons why this model is improving the way to do business are numerous, we have selected 8 features that make it truly extraordinary. Let's see.
1) Customized communication
2) Shorter sales cycles
An average sales cycle is very long and takes a long time. The sales funnel is filled with all kinds of touchpoints, followed by the corresponding content that should push the potential customer to the next milestone.
With instant messaging technology, however, the whole process becomes much shorter and simpler. A customer must not go through e-mails or forms. All you need to do is contact the company via the mobile app and respond almost instantly.
Conversational marketing not only makes the sales effort more manageable, but also increases conversions because users have less time to think about so much. They are willing to engage in impulse purchases, spending more money in a shorter period.
3) Greater business efficiency
According to a HubSpot report, 57% of consumers are interested in chatbots for their instantaneity. Users understand the potential of this technology and do not hesitate to take advantage of it.
Automation allows you to be constantly available on the market without having to spend huge amounts of money on operating costs. As a matter of fact, the activity becomes less expensive as it is not necessary to hire many customer service agents. At the same time, chatbots become smarter over time because they learn from previous interactions and use that knowledge to answer future questions.
4) Communication becomes authentic
Well, conversational marketing is trying to do the same thing: turning brands into your best friends. They are available all day and have the potential to answer all users' questions whenever they want. It is not about creating an ideal image of the brand. On the contrary, it is only a matter of trying to be there for potential clients and offering them an authentic experience.
5) Added value
In conversational marketing, you do not just sell products, but also add value to existing services by providing realistic interactions. The goal is not to sell "one size fits all" services or offer generic solutions. Now, you will make a big leap forward, giving each consumer exactly what they need at any time.
For this reason, your brand becomes even more credible and authoritative. It makes special customers, so you can gradually build the army of loyal buyers who sense the relationship with the brand as authentic. This leads to further user engagement because they are encouraged to request more information, make comments and share brand news online.
6) Avoid large campaigns
We have already explained the meaning of authenticity and personalized communication. Knowing this, it is reasonable to assume that conversational marketers will soon start avoiding large, generic campaigns. It is not necessary to create all-encompassing promotional messages when it is easy to reach customers on a very small scale.
Instead of wasting time and resources on unidirectional mass communication models, you can now focus on campaigns at the granular level, getting close to each perspective with the necessary attention.
Although it requires investments in new technologies and chatbot software, conversational marketing is not as expensive as other marketing odels. Once everything is set up, you just need to make occasional adjustments and observe that communication goes smoothly.
7) A goldmine of data
Another advantage of marketing focused on chatbots is that it provides you a myriad of information to work with. It's a real goldmine of data where you can find all the information about the user in one place.
The chatbots can perfectly integrate with other apps you use (email automation tools, CRM apps, social media marketing assistants, etc.) to create a complete data resource. Everything you've ever told the customer will be documented and quickly accessible, while you can simply search and analyze the interactions using the keywords.
It offers valuable information on the needs and behavior of a customer, giving you the opportunity to reach the consumer with new offers. It's a perfect analysis tool to help you propose up-selling and cross-selling ideas, which is another way to increase profit in a long-term perspective.
8) Analysis of post-purchase behavior
We've shown you how conversational marketing helps you analyze yours clients and increase revenue, but you should know that it also encourages predictive analytics. That is to say, you can explore customer data to detect behavioral patterns and predict future trends.
You can see frequently asked questions about your services and act accordingly to add new products to your portfolio. The system allows you to stay one step ahead of the competition, to be aware of the things that will come, the needs and future demands of your target audience. Therefore, you should take this opportunity to take the first step and take your business to a whole new level.
Conversational marketing is undoubtedly the new star in business that forces companies around the world to reconsider existing sales strategies. With the ability to establish solid customer relationships and gain valuable consumer information, it is fast becoming one of the most powerful sales factors.
Are you interested in building conversational apps to communicate with your customers?
Book a quick call with one of our Hubtype experts and find out how we could help your business.