Why Chatbot Analytics Is the Essential Ecommerce Tool You Need
Since the e-commerce industry is a highly competitive arena, it becomes necessary to devise innovative methods to enhance user experience and stay ahead of competition. Nowadays, merchants are embracing chatbots to prosper in the e-commerce market.
Using a chatbot in your marketing campaign improves the way you interact with your customers. Chatbots are computer programs that help conduct conversations through text or voice interactions by mimicking human speech patterns. Customers may give a command or ask a question, following which the chatbot will respond or perform a corresponding action.
Enhancing user experience through chatbot in e-commerce
Chatbots create a dynamic communication experience with users. They act as an initial touch-point between the merchant and the buyer. Bots help in engaging customers round the clock by offering them assistance as and when required. They also answer any doubts or service queries that customers may have regarding shipping information or other issues.
Bots for e-commerce websites serve the following purposes:
1. To complete the buyer’s purchase
2. To provide product recommendations to customers
3. To offer customer support as and when required
4. To up-sell and cross-sell
5. To send mass messages, when launching a new product or to announce a new scheme
6. To remind users of items left in their shopping cart, and direct them towards proceeding with the purchase
7. To predict opportunities for potential successful sales in the future based on past sales data and, thereby, increase profit-making potential
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Defining performance metrics
It is imperative to define the performance metrics of a chatbox to measure its capabilities. E-commerce companies need to define these metrics in terms of greater conversion rate, quicker response time, and efficiency enhancement, among others. Through these metrics, the performance of the chatbot may be measured and improved for higher efficiency.
Following are three types of metrics used to determine the effectiveness of the chatbot.
1. User metrics
Bot metrics measures every user single interaction your chatbot has with your users. They help determine the number of customers using the chatbot. This provides critical information about your market size. You may also determine how effective your promotional activity is by identifying the number of active users. Additionally, you may measure the number of engaged users, that is, users who communicate through the chatbot, as well as new users.
2. Message metrics
Another metric group is message metrics. This is used to measure the length of the conversation and to identify if the chatbot responds to the user’s query accurately. Through message metrics, e-commerce companies may also identify the total conversations between their users and the chatbot, the number of new conversations, and the messages the chatbot was not able to process, among other metrics.
3. Bot metrics
This refers to some additional parameters used to gauge the performance of the chatbot. It includes various aspects such as user retention rate, measurement of user satisfaction, fallback rate, and goal completion time, to name a few.
Chatbots are the latest trend to help e-commerce businesses gain a competitive edge. They help promote your brand, engage both new and existing customers, and gather useful information and insights for future analytics.
Summary:
Chatbots help your e-commerce business enhance user experience and retain customers. Chatbots may be used to help buyers complete their purchase, to provide product recommendations, to send mass messages, and to predict opportunities for potential successful sales in the future. You may use a variety of user metrics, message metrics, and bot metrics to determine the effectiveness of your chatbot, which is the first touch-point between your merchant business and your prospective buyer.
