With the rise of “conversational experiences,” just about every business function — from marketing to commerce to support — must be redesigned to be conversational. The greatest impact felt due to conversational marketing is that businesses interact with far more consumer prospects than they do with paying customers. Each one of us will soon be experiencing this as a target, if we aren't already.
However, it’s merely the latest phase in the evolution of marketing. The earliest phase was known as “outbound marketing” and consisted of broadcasting key messages to vast audiences through media along the lines of print and television. The next phase was “inbound marketing,” which meant creating interesting content and micro-targeting users via social media and bulk email campaigns. This newer phase involves having one-on-one conversations with customers to ultimately build long-lasting relationships.
It's a gigantic transition from the one-too-many, “yell-and-sell” style campaigns to one-on-one, “chat-and-connect” conversations. The modern opportunity is to build an ongoing, personal, deep relationship with the individual customer. At the same time, marketers must be more deliberate, since it's so much harder to fake a relationship than it is to fake a transient ad or marketing message. Today, a brand must become an assistant, friend, adviser and guide. These conversational interactions are far more substantial and consequential.
Brands now must be much more personal. Instead of broad, high-level key messages, each brand must now individualize messages. What value can I bring this particular customer? Instead of having the customer herself map the brand messages to their personal situation, the brand has to map their individual offers to the customer's personal, ever-evolving situation.
That means brands will also need to remember prior conversations and maintain context in all future conversations since it's terribly frustrating for the user to repeat already-provided context.
Outbound notifications will be transformed from the simple alert (that are an end in themselves) to the interactive messages that are the start of a new conversation. Instead of receiving an alert notifying me of my package delivery, I prefer it includes an innate ability to instantly reschedule. Instead of an alert just confirming my flight ticket, I might like to view destination information at the same time. No message will be standalone; each message will operate in conjunction with a rich, conversational experience. Even the frequency and timing of messages will be influenced by user preference and context. Nothing is ever the same.
These conversational experiences will transform engagement marketing. We all know that drip marketing and newsletters start feeling like spam after a while. Now, personally relevant messages sent at the time and frequency of a user's choice will likely have better response. A short message is nowhere near as disruptive as long-form emails are, and by interacting with these short messages the user can dig deeper.
In fact, conversations are proving to drive conversions. A rich, engaging, meaningful conversation catered to the user's needs is more likely to convert to transaction or, at the very least, identify a lead. Conversations offer brands a chance to fully understand customer requirements and to position their products just right. Just like in offline retail where a good shopping assistant can convert customers and upsell or cross-sell products, an overly aggressive salesperson will likely drive consumers away. Whether your brand appears to be a friendly shopping assistant or a used-car salesman will now determine your conversion rate.
Artificial intelligence-powered bots are bound to become the new marketer. In fact, chatbots enable conversational experiences that engage with customers without being intrusive. They're personal and fully understand a customer’s needs and preferences, and will build long-lasting relationships with customers by offering the right product to the right customer in the right way.
Beerud Sheth is the founder and CEO of Gupshup, a smart messaging platform for building conversational experiences.
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Founded in 2004 and incubated in IIT-B, Beerud has transformed Gupshup into a global leader in conversational engagement, with a strong AI-powered enterprise messaging platform. Gupshup's vision is of a future where it's as easy for a customer to chat with a business as it is with a friend. Primarily focused on mobile-first markets, Gupshup is helping businesses unlock the power of conversational messaging. The tech platform powers over 7 billion messages per month. Across verticals, thousands of large and small businesses use Gupshup to build conversational experiences across marketing, sales and support. He now believes a few years from now, we’ll wonder how anyone did business without conversational messaging.
Previously, Beerud was the co-founder of Elance (now Upwork), a listed company on Nasdaq focused on the gig economy. Elance was the quintessential poster boy of the gig economy (even before the phrase became popular), leveraging the internet to create a global services market, powered by skilled freelancers. Beerud played a critical role at Elance as its founder, CEO and top executive till 2004 and later as a board member until the merger in 2014. The company was listed on NASDAQ in 2018.