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Can Conversational AI Monetize Your Website ?

On June 24, 2024 | 8 Minutes Read
ChatbotsConversational AIConversational CommerceConversational EngagementConversational MarketingConversational SupportCXGenericWhatsApp Business APIWhatsApp Commerce

Introduction

The digital landscape is undergoing a drastic transformation. Customer interactions are no longer confined to static websites and clunky navigation. Chatbots, powered by conversational AI, are emerging as powerful tools to automate simple communications and fundamentally reshape the customer experience. 

As per the Gartner report, 25% of organizations will soon rely on chatbots as their primary customer information channel. This shift underscores the critical role chatbots play in meeting the diverse needs of today’s customer base.

Leveraging conversational AI, chatbots can seamlessly unify customer journeys across all age groups. By integrating omnichannel messaging platforms like WhatsApp, businesses can create a more accessible, personalized, and efficient communication environment. 

However, chatbots’ potential for digital marketing leaders lies beyond mere convenience. These AI-powered assistants offer a unique opportunity to drive revenue and optimize sales productivity. In the face of ever-increasing sales targets, chatbots provide a strategic advantage by personalizing interactions, offering real-time support, and generating valuable customer insights.

Let us see how chatbots are monetizing websites. 

How Can Conversational AI Help a Website Generate Revenue?

These days, businesses aim to engage in human-like communication with customers and offer personalized experiences. Have a look at how conversational AI for businesses can help you drive conversions and generate revenue:

Click-to-Chat Advertisements

Nowadays, businesses integrate multiple platforms to better engage with their customers. For instance, customers may look for a product on one e-commerce site and receive similar notifications while scrolling through their Facebook or Instagram feeds. These advertisements have a Click-to-Chat option. Clicking on this option will allow customers to engage with your business directly over WhatsApp, an excellent way of acquiring new customers. 

Once customers reach your WhatsApp chatbot, you can engage with them, understand their needs, and offer them a personalized shopping experience. 

Facilitating Direct Conversion Through Lead Generation

Conversational AI has become incredibly important today, and businesses are always looking for ways to connect with potential customers on various online platforms. One direct way in which Conversational AI chatbots can help monetize a website is by leveraging their ability to identify human language and personalize content according to users’ needs. 

By integrating technologies like natural language processing (NLP), speech recognition, and machine learning (ML), businesses can engage in powerful conversations with customers and improve lead-generation efforts. 

Through the integration of the conversation cloud, businesses can boost conversions, thereby generating more revenue.

Facilitating E-Commerce Through Conversational AI Chatbots

Businesses these days are facilitating all e-commerce activities through AI-powered chatbots. 

When customers get notified about something they have been looking for, they are more likely to take an interest in the product or, even better, may buy it. 

Let’s say that a customer has been looking for jeans. He may receive a WhatsApp message as stated below:

The above conversation will make your customers feel like they are talking to a human agent sitting on the other side of the screen. 

A conversational AI-powered chatbot can help you serve your customers better by greeting them on a landing page, answering their queries on the same platform, and offering recommendations that align with their interests.

Statista report also highlights that 56% of consumers prefer buying from stores that offer personalized shopping experiences. By using conversational AI, you can enhance customer satisfaction, build loyalty, and drive repeat sales.

A One-stop Destination for All E-Commerce Practices

Putting your customer through multiple touchpoints may hurt the business. Let us take the example above. Jay has chosen a product from the list provided by the chatbot and is about to make the payment. Ultimately, he wants to check the size chart to see if he has chosen the correct size. 

He switched to another window containing the product details and suddenly decided to look for other similar products. This non-linear customer journey causes a diversion, reducing the business’s revenue generation chances. If a potential customer does not click the “Complete your order” button, it is a lost revenue for the business.

You should design conversational AI chatbots to help customers across all the phases of their purchase journey. They should eliminate any possibility of friction at the checkout points.

Interactive messaging chatbots should offer customers a unified experience and allow users to ask questions about their purchasing items. 

Statista reports show that 44% of customers prefer getting product information from chatbots before buying. By helping Jay to quickly get answers, you remove barriers to purchase. Plus, if Jay leaves his cart idle, a gentle reminder from the chatbot can prompt him to return and complete his purchase.

An example of successful implementation is Wow! Momo, which incorporated a conversational engagement platform powered by Gupshup. They’ve seen a 40% increase in repeat orders from satisfied customers.

Wow! Momo has incorporated a conversational engagement platform powered by Gupshup and has received 40% repeat orders from customers who have previously ordered.

Simplifying Payment Options for Customers

Again, this is a measure that helps you retain your customers. The more we eliminate shifting from one window to another, the more likely customers are to make a purchase. 

Businesses should shorten the payment process by incorporating interactive message notifications or a link that helps customers complete a payment simply through a click. This helps slash down the time needed to make a payment, as customers are likely to make the payment instantly rather than leaving it for another time. 

This is an excellent way for businesses to generate revenue. 

Subscription Offers 

Customers like to avail themselves of “Prime” benefits while using your website. Subscriptions are a great way businesses can generate revenue while offering top-notch facilities and services to customers for a low, ongoing investment. 

Companies offering subscriptions can scale confidently and establish a deeper customer relationship. Retaining customers is easier and more profitable than attracting new ones. 

A subscription is, therefore, like a recurring revenue. Let us say that a business website has a chatbot that allows limited access to those who have not subscribed and endless benefits to someone who has purchased a subscription. For example, “Do not pay extra delivery charges! Get our annual GOLD membership for just xxx INR.

When customers sign up for this offer, they’ll want to use it repeatedly. This results in regular revenue generation and attracts loyal customers for the business.

Lucrative Discounts and Promo Offers 

An AI conversational platform is an excellent channel for businesses to offer additional promotions and discounts to each customer segment based on what they might be looking for or what might satisfy them. 

If a customer has ordered food online from an online food delivery app and is dissatisfied with the quality of the food, he may share his concern with the business through a chatbot. 

The conversational AI chatbot can analyze the situation and identify the sentiment behind the problem. It can offer the customer a redeemable coupon for his next purchase. This will prompt the customer to purchase again, generating revenue for the business. 

Fun Games Through Polls, Surveys, and Quizzes on WhatsApp

Businesses can opt for new and innovative ways to engage their customers and boost their ROIs. An online food delivery business is looking forward to attracting customers. 

What can be an innovative way to do this, rather than sending a simple promotional text message? 

The business can frame a quiz for the customers. On answering three questions correctly, they will be offered a special discount of 20% on minimum spending of xxx INR. 

Here’s how it may go:

This engages the customer and increases the traffic drawn towards the website. 

Conclusion

Monetizing a website can be challenging and exciting for marketers. Thanks to the advent of conversational AI, however, it can create a win-win situation for businesses and customers.

Gupshup offers solutions that ensure a unified conversational engagement platform, which can create a magical experience for customers at all stages of their purchase journey.

Therefore, stay ahead in this age of cut-throat competition with Gupshup’s offerings, and reimagine revenue generation and improved customer experience in this digital era.  

 

FAQs

Q1. How to monetize a chatbot?

Ans: Chatbots can communicate with customers using Conversational AI chatbots and collect insights on their interests and preferences. They can then send customized offers to clients, which can interest customers and boost sales, generating revenue. 

Q2. What are the benefits of one-click?

Ans: One-click payment has revolutionized customers’ shopping experience by eliminating friction during the checkout process. This presents measurable benefits for merchants in the form of more repeat purchases, increased sales, increased orders, and lower cart abandonment rates. 

Q3. How does offering discounts help a business? 

Ans: Discounts are a great way to drive more sales volume to a business by attracting new clients. Companies can send personalized discount offers to customers through chatbots and lure them toward purchasing. 

Divya Shukla
Divya is a multifaceted writer and a journalism graduate. A wordsmith by profession and passion, she crafts compelling narratives as a seasoned content writer while also weaving poetic tapestries in her leisure moments. Whether delving into informational prose or evocative verse, her love for the written word brings finesse to every piece she pens down.

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Read: Embracing the Conversational Future: Insights from Gupshup Conversations