While the pandemic last year made the world retreat indoors and opened the doors to an already thriving sector of e-commerce, its next frontier is already here – that of conversational commerce. Slow responses and an overall impersonal experience can make most customers abandon a brand for others that offer a more seamless experience. And to address this problem, CM.com has been at the forefront of bridging this gap through conversational commerce. This practice of using social interaction via options like chatbots and social messaging tools simplifies and encourages a customer’s conversation with a seller in a personalised way.
With a customer base in over 118 countries, CM.com is a global leader in cloud software for conversational commerce, enabling businesses to offer a superior customer experience. Its software helps brands improve sales, marketing and customer support by providing the entire conversational stack to outperform expectations.
The rise of conversational commerce
CM.com’s services such as mobile marketing cloud, mobile service cloud, conversational AI cloud and communications platforms are all designed to help brands increase conversions by knowing their customers and their demand better. The company’s services are a great fit in an ecosystem like todays, where conversational commerce is increasingly becoming an essential part of business.
As per reports, the conversational market will showcase an estimated compound annual growth rate of 26.3 percent from 2020 to 2027, putting the market size at $30.45 billion in 2027. This growth trajectory is due to the increased customer dependability on the medium. 79 percent of consumers prefer live chat, with a satisfaction rate of 92 percent. It is also noted that customers with a positive chat box experience tend to return to the same seller.
Bridging the gap between sellers and buyers
Recognising the customers’ need for instant gratification and convenience especially in this era, CM.com’s communications and payments platform helps brands automate engagement with customers across multiple mobile channels, blended with seamless payment capabilities that drive sales, gain customers and increase customer happiness.
“CM.com is a global partner for businesses that are trying to be ready for the future i.e., “Conversational Commerce”. With the help of our enterprise grade products and solutions, we enable our customers to have more meaningful conversations with their consumers and convert those conversations into commerce.
In 2020, CM.com became a rapidly growing technology company, which increased our appeal as a pioneer in the market that can offer a one-stop-shop solution for “Conversational Commerce”. Our ‘Outperform Expectations’ motto is focused on accelerating our customers’ transition to conversational channels platform which will help them offer a superior customer experience and delight across the board,” says Chetan Borkar, Country Manager, CM.com India.
The solutions offered by CM.com enable brands to optimise the customer journey, from seeking product recommendations to purchasing to receiving post-purchase support. The brand offers customised marketing solutions and easily automated conversations through their portfolio of products. Their unique communication platform offers SMS messaging for businesses and conversation channels in the form of social media messaging apps like WhatsApp, Facebook Messenger, Apple Business Chat and many more. CM.com also has AI chatbots, digital signatures and one-time passwords for a seamless experience.
Over the years, the company has helped several brands elevate their customer experience through conversational commerce. For example, HelloPaisa partnered with CM.com for a better connection with their customers. CM.com offered the brand solutions like SMS campaigns, HelloPaisa WhatsApp chatbot, customer contact and number verifier.
Another brand who wanted to ride the conversational commerce wave was Missguided. The brand wanted an easy and quick solution that could be integrated in their existing architecture. To that end, CM.com offered them a chatbot solution. Within eight weeks, the virtual assistant went live with contextual answers based on the user’s location. The first week saw engagement of 65 percent with the chatbot and 11 months later, it was at 80 percent.
The way ahead
Today, more and more brands are looking at increasing their user base with a personal connection. As the continuing rise of e-commerce is inevitable, brands need to revamp and redesign their customer experience to survive and gain more from this wave. While the giants in the field have already gone the conversational commerce route, trends suggest that many more brands will be joining the bandwagon soon.
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