What are the benefits of Conversational Sales for my industry?

The main benefits of conversational sales are based on the fact that convenience and trust are the most important factors when shopping online. These principles apply across a number of industries but have a particular impact on certain industries.

Conversational sales for telecoms

The telecom industry has been an early adopter of the ‘sales through service’ model. As Telecom products tend to be very similar, the most important factor to differ from the competition is the customer experience. Being part of a fast-growing and innovative industry means the customer journey has to be digitally advanced and deliver a “wow moment”. However, telecoms bundles can be complex and 77% of customers highly value interactions with telecoms staff. So, a conversational sales approach is perfectly placed to answer these queries and make the buying journey seamless.

Vodafone’s Head of Digital-Assisted Sales & Online Projects, Julia Koellges, describes how Vodafone has implemented conversational sales to their site and increased online sales conversions by 25%:

“With the Online Store, we are taking our online experience to the next level! More than two-thirds of customers say that with this technology we stand out from our competition”.

Conversational sales for automotive brands

Car buyers spend 61% of the buying process researching their options online before making a purchase decision. Three-quarters of all customers use third-party websites, which means brands’ websites are not their customers’ main source of product information, meaning their websites must serve as more than a product catalog if they are to become effective sales drivers. There is a clear desire from the market to make the car buying process more digital and automotive brands face increasing pressure to become digitally innovative if they are to remain competitive and relevant.

Conversational Sales in the Automotive industry can be implemented through many different features. The biggest asset is to walk the customer through their buying options in real-time without having to go to the dealership. Tools that connect online customers to staff in dealerships or call centers digitally can enhance the buying experience. By having a brand expert explain all the features of the car model via web-sharing or be able to answer questions while walking consumers through car configurators, companies can engage online customers directly in a cost-effective manner.

Cars are high-involvement purchases and customers need a level of interaction to trust a brand, conversational sales strategies provide them with this kind of human engagement online, building a relationship before they have even visited a dealership. This, combined with improved online experience features, like the ability to book test drives automatically, prove to be extremely helpful tools in converting online website visits to leads for dealerships.

Conversational sales for travel

Most longer or more specific travel plans require extensive research and careful comparison; each trip includes several elements to organize the perfect vacation. This complexity is why brick-and-mortar travel agents still exist in an increasingly online world.

When a customer buys a holiday package, they are buying not only the experience but the knowledge and trust of the person selling them the package. This is where conversational sales for travel offer unique opportunities for travel companies looking to bring the benefits of the travel agent to their website. Online shoppers will use social media networks, blogs, and comparison websites to research their options and get the best deal. It is crucial for the customer to be able to contact the provider at every step of the booking to get reassurance, trust, and a truly personal experience.

The first 5 minutes of each interaction are crucial, especially in the competitive world of online travel. Bahia Principe was able to implement a conversational sales approach to their online leads and connect every online visitor with one of their agents in less than 6 seconds. This tactic increased their online sales conversion rate by 35%, by simply bringing the expertise and knowledge of an agency online.

Conversational sales for Banking and Insurance

The banking and insurance industry requires a high level of online security due to the handling of sensitive information. Yet this industry has shown a fascinating digital transformation in the last years, as the increasing popularity of FinTech companies disrupted the way traditional banking has been done. From Monzo to N26, banks that have made the leap to simple, digital-first models have captured the attention and business of customers looking for a convenience led financial service.

Insurance and banking can involve industry-specific terminology and complex products, customers are demanding a more digital advanced, accessible experience. These claims are now firmly backed up by numbers; on average banks save $0.60 per chatbot interaction, when multiplied across their entire customer-facing network, this results in happier customers and lower overheads. In fact, some trends suggest that 90% of bank-related interactions will be automated by 2022.

Nevertheless, for larger commitments like loans, insurance, and credit cards customers trust brands more if they can put a face to the service they get.

With conversational sales, banking and insurance experts can hold real conversations and personalized consultations as they would in-store, creating a helpful experience that better nurtures and converts those browsing their options online. If a customer is still in the research phase, web sharing will be a great tool to show insurance offers, show calculations on savings and info on the website and make the process easier to understand and more transparent.