The Data Doesn’t Lie: Increase Your Conversion Rates by 50% With Chatbots
In the marketing world, there are millions of ways to market to your target customers. And marketing is all about optimizing your techniques to get the most bang for your buck. A simpler way to put it is this: the purpose of marketing is to increase conversion rates.
In a recent podcast with Billy Bateman featuring Ish Jindal, they discuss how marketing is data driven, especially when it comes to bots. If your marketing strategy doesn’t allow for you to clearly measure the success rates, then maybe it’s time to switch it up. You might also need a change if your current strategies are not getting you where you need (or want) to be number wise.
Switch to Chatbots
Who doesn’t want increased conversion rates? Ish has seen companies’ conversion rates increase by up to 50% when they make the switch from generic web forms to automated conversations with chatbots. And to see that increase, he helps companies connect their paid ads to conversational landing pages.
For example: Let’s say that someone googles car insurance. An ad for Geico pops up and they click on it. It takes them to a boring old web form. Yes, that can still give them leads, but imagine if you could get even more leads for the same amount that you’re spending on the ad. That’s where chatbots enter the scene.
That same process as mentioned in the example above can be improved by directing the customer to a chatbot when they click on the ad. It has been proven to be more effective in capturing and qualifying leads. That can get you the extra revenue from what you’re already spending on ads.
It’s all numbers driven. By having a bot tied to a paid ad, you’re able to measure the conversion rates AND the exact traffic source. It basically will indicate where you should spend those marketing dollars to generate more leads. But how exactly do you get your bot to that level?
How to Build a Really Effective Chatbot
Chatbots are relatively new. They really only started becoming popular around 2016. So we’re talking around 4 years ago is when companies started implementing chatbots into their marketing design. And since then, they have been evolving, and continue to do so to become much more effective in increasing conversion rates. Let’s discuss 3 important points when building your bot.
- Put Effort into Your Bot Design Process: Ish brings up a good point that you can’t have the mindset of: “Oh perfect, I will pay for a chatbot, deploy it on my website, and my conversion rates will go through the roof!” Unfortunately, it doesn’t really work like that. The bot in and of itself is not a magic wand that spontaneously increases conversion. Effort must be put in to the bot making process to have an effective bot. That’s why here at ChatFunnels we have a consulting team who is fully equipped to build bots, give insights, and train sales teams to get the bot to the level you need it to be.
- Make the Flow Conversational: It is vital to have a good conversational flow. Here’s a poor example: “Please share your name.” Who talks like that over text conversations? No one! So neither should your bot. Work on improving the copy of the bot to make it more casual and conversational, so the customer can feel more open to interacting with the bot.
- Let the Data Drive Your Decision Making: You want to quantitatively see what doesn’t work, what does work, and what works better. And in every industry, the tone and style of the conversation will be different. What appeals to a customer in the travel industry may be different from, let’s say, in the healthcare industry. Know your customers. Track the data, analyze it, learn from it, and then make smarter decisions in the future based on what the data showed.
Any Conversation is a Funnel
The goal of a chatbot is to help prospects enter your funnel. That’s how your conversion rates will increase. Your marketing funnel essentially maps out how the customer will interact with your business and their decision process. It starts with awareness, which can then peak an interest. Further down the funnel comes their desire to buy. And if you don’t lose them long the way, it can conclude with them converting/buying.
Again, you want to pin point what stage of the funnel you are losing people. That will allow you to adjust what you’re doing and improve the efficiency of your marketing strategy. Ask yourself: Are we losing people towards the top of the funnel? Maybe you need to shift your marketing to enhance awareness. Are people dropping out right before conversion? Analyze what’s going on with your funnel and make improvements to increase conversion rates.
That’s why chatbots are so great. They allow for a smooth journey down the funnel. A study showed that 9 out of 10 consumers would like the option to use messaging to contact a business. Conversational AI is what appeals to consumers in this day and age. That’s what will get them to enter your funnel and convert.
Define Your Use Cases
If a bot does not have a clearly defined use case, how are you going to measure the success rate? For example, if a bot has so many different goals and options, it will not be the most enjoyable experience for the customer. And it will be difficult to see what exactly the bot is or isn’t helping with.
Design your bots with specific use cases. Don’t feel that one bot on one web page needs to be able to do everything. On your website you might want an FAQ bot on one page and maybe another bot with the use case of booking a demo and perhaps a third where the customer can actually buy through the bot. This keeps the process simple and user friendly.
To Sum it All Up: Make Everything Data Driven
Chatbots can help initially capture the user’s attention, peak their interest, and be used to guide them along the conversion process. When you create, deploy, and iterate your bots, don’t just do it off of a personal opinion or a hunch. Use numbers to back it up. The data doesn’t lie!
If you’re interested in optimizing your bot, start a free trial with us today!