We are in a day and age where everything is either digital, or going digital. Savvy businesses are always looking for new ways to hit their growth goals using cutting-edge technology like augmented reality, artificial intelligence and virtual reality. Streamlined, automated implementations will not only help organizations hit those high revenue targets, but also give marketers the necessary data needed to optimize the overarching strategy.
In the last couple years AI-driven chatbots have become one of the most talked about subjects in the world of digital marketing. In fact, today’s innovative digital marketing agencies offering custom growth marketing stacks rely on these chatbots at the core of their strategy to aid every part of the sales funnel: from bringing in top-of-funnel leads, to nurturing and closing the sale, chatbots can shorten the sales cycle, collect intimate data that can play into optimization, and be a brand advocate, This article will explore three ways chatbot technology can improve a marketing campaign and help organizations hit their sales goals in less time, while spending less money.
1. Chatbots can Squeeze Dollars from Email Marketing Failures
Email marketing is paramount to an inbound marketing strategy, and the CTR (click-through rate) dictates the success. According to Social Media Today, the average email marketing CTR in 2018 was about four percent while chatbots had CTRs ranging from 15%-60%. In fact, many marketers and industry influencers are predicting that email marketing is becoming extinct. Just look at the example Larry Kim has set. This former founder and CEO of Word Stream walked away from the organization to start Mobile Monkey, a chatbot messenger marketing platform. Kim said “…messages aren’t just emails. Emails are stupid. You can’t respond to them. They’re not very interactive”.
Email marketing can still work. However, with a low CTR and a cold non-personal presence, the email marketing methodology simply doesn’t conform to the buyer-focused, personable experience today’s consumers are demanding. Even if your email marketing messaging has the best content in the world created from a deep understanding of a brand’s target customers that hits on their most intimate needs and pain points, the fact of the matter is this: the process is still impersonal.
So how can chatbots harvest revenue from failed emails? If your growth marketing agency uses a CRM like HubSpot as the control center for inbound marketing campaigns, you will have a list of recipients who failed to click, or who opted out. And these recipients leave a buyer’s journey trail.
It is not uncommon to see that many failed email marketing attempts attribute to leads who came from Facebook. Think about it, this makes total sense. Facebook is a social media platform that is fully interactive, so going from a lively, personable platform to a non-interactive message sent in the form of an email will be hard-pressed to excite anyone. It’s cold fish. Period.
Now consider this: one in four Americans have a Facebook account and engage on the platform every day, so if you are able to get the identities of your failed leads from an email marketing campaign, and re-engage them on the platform where they feel relaxed and off guard using an interactive manner for communicating, you will naturally see a huge improvement in engagement metrics, CTRs and conversions.
2. Chatbots Give Growth Marketing Data that Improves Audience Targeting Tactics
Digital marketing teams running SEO, paid media and other strategies strive to create the right messaging that will trigger a revenue-generating emotional response from target buyer audiences. In this era of tech-driven marketing, you can no longer ignore AI and the roles it plays in improving marketing performance. It all sums down to this: the more you can understand your buyers, the better you can customize content that will nurture them into making a purchase, and the better the purchasing experience, the higher your earnings.
Google Analytics only gives SEO strategists an opaque look at engagement data. At best, you can see which pages and blogs get the most traffic and longest session durations, and then note what the topics are. But the actual pain points still remain unknown.
The same can be said with the type of CRM data that comes from platforms like HubSpot. You may get a slightly deeper understanding of your leads: knowing their names, the companies they work for, and their job role (as well as a detailed buyer’s journey) can help give content marketers some good data to optimize audience targeting, but precise pain points still remain unknown.
Chatbots, on the other hand, engage leads and can be programmed to fish for these pain points while driving them to complete a desired action. When people engage in conversations with chatbots, keywords can be added with a contextual parameter that triggers a set of questions designed to harvest the real pain points from each lead. Then, based on the person’s response, they can be lead to a specific piece of content or landing page that shows how a product or service is the best solution to that need, while collecting the data for marketers to later review and work into the main strategy with optimized buyer audience targeting in messaging and content. This is why chatbots are a crucial part of any marketer’s arsenal, and why businesses should invest in this growth-driven technology.
3. Chatbots Save Organizations Money by Performing Customer Service and Data Analyst Roles
The artificial intelligence that powers chatbots contributes heavily to cost-saving. Basically, a chatbot can perform the operations that a team of 10 people would normally do. From customer service to data collection, chatbots can be automated to perform a number of tasks, wear multiple hats, and remove the need to additional salaries.
Keep in mind that increasing sales and ensuring customer loyalty is rooted in improving the customer experience. Your customers are significantly smarter than they were several years ago. As search technology has advanced, so too has the level of research consumers put into their buying process. They ask questions specific to their needs, and they expect brands to communicate with them at a high level. They also engage with other consumers in social groups, which can both work in an organizations favor, or be counter-productive. This is where chatbots truly shine; they answer questions in a controlled environment while engaging like a human being, and they even notate the various questions, topics and feedback shared by consumers. When this happens your chatbot is performing the role of a customer service team, a sales strategist, and a data analyst specialist. While delighting your customers with one-on-one attention, chatbots not only help drive sales by creating a positive customer experience, they also save your organization money by either removing the need for additional team members, or they allow you to allocate those people to other arms of your marketing efforts to increase productivity and earning potential.
Is a Growth Marketing Stack with Chatbot Technology the Game-Changer You’ve Been Waiting For?
Chatbots can be powerful assets to a Growth Stack. Download our FREE guide on the WEBITMD Growth Stack, see if it’s approach makes sense for hitting your business goals, and imagine how chatbot technology can impact your company’s bottom line.