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Know What Is The Trump Card Over Customer Behavior And Demographic Data | by Engagely.ai

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Engagely.ai

Remember the days when shopping used to be an outing, involving plans for the entire day, going from shop to shop until you actually liked something? Remember going to 5 different stores to compare the price of an electronic product before actually buying it from the cheapest store? Users today shop in the same way, except that they do not have to physically visit these stores anymore, and everything can be done sitting in one place at the click of a button. Online shopping has made it extremely convenient for users to never leave the luxury of their homes for the tedious task of shopping.

How does the user make this purchase online? The internet today has so much data available, and a user’s past behavior, demographics, preferences have made it extremely easy for websites to target these users with products they will like. For example, if you log in to an online website such as Amazon, from where you usually buy your clothes, the websites know that you prefer loose-fitting jeans, darker shades, and a few particular brands based on your past purchases. The next time you log in, you will be shown clothes based on these preferences of yours, and it will become very easy for you to browse through these choices and make your selection. You do not have to spend the entire day browsing through all irrelevant clothing options.

Consider the case of demographics. If as a young user, you normally prefer wearing jeans as in the example above, and you are shown options for ethnic clothing such as sarees, it will not be a pleasant experience for you. You would want to see options relevant to you. At the same time, suppose you are attending a wedding and require a saree this particular time, you would not want to see options for jeans and other western outfits. The biggest difference between these two scenarios is the customer’s intent. Both these times, the customer intended to buy two different things and would like to be shown different options. But according to the user’s past behavior, demographics, preferences, the website failed to satisfy the customer in the second scenario. According to Lisa Gevelber, marketers who solely rely on demographics to target customers risk missing out on about 70% of mobile shoppers, who could be potential customers. This is because they fail to gauge the shoppers’ in-the-moment purchase intentions.

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Conversational AI can be implemented across various channels such as Whatsapp, EMail, Messenger, and they can be text-based or voice-based. A Chatbot is adept at human conversation and assists users by identifying their intent and guides them to the right processes in the minimum possible number of steps, saving time and satisfying the user at the same time. According to invesp, chatbots help save 30% of customer support costs by boosting response time and answering about 80% of the routinely asked questions. According to Opus Research, by 2021, chatbots will see an investment of around 4.5 billion dollars.

For people who prefer conversation through ‘talking’, there are Voice bots that are extremely intelligent. They stop speaking as soon as they hear the user talking, and start responding as soon as the user stops talking, much like an actual human. This provides a more personal touch to the customer who in turn is able to communicate his intent more clearly, enabling the bot to provide better customer experience. According to a Walker study, by 2020, the product and its price will be overtaken by customer experience as the brand differentiator. Enabling conversation with the customer through the use of bots is key to ensure a successful sale.

This is where Engagely.ai comes in. Engagely is an enterprise-grade conversational AI platform. Enterprises use the Engagely platform to create conversational, omnichannel bots using its no-code technology. It supports 30 global languages and has top-notch security.

While with behavioral data, demographic data, historical purchase, you can predict what a person wants to buy or what services he requires, but with the right customer intent, you can hit the bullseye. This goes a long way in customer retention and upselling.

So is your business equipped with the capability to converse with your customers and gauge their intent?

We hope this blog was useful for you. Please feel free to get in touch with us on hello@engagely.ai or visit our website — engagely.ai to know more.



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