Any company, big or small, is always bullish on ROI. And that is especially the case in startups that have leveraged people and software to 10X their impact on the market, customers, employees, and stakeholders. And the good news is, Conversational AI can help Startups acquire, engage, and retain customers.
Customer Acquisition and Customer Retention
Although the ultra simplified version of the problem statement is customer acquisition and customer retention. There are hundreds of other problems that need to be solved, to be able to solve the ultra simplified version of the problem.
Customer acquisition will usually be solved through marketing and sales, which would usually be handled by 2 to 10 people most of the time, including the founder of the company.
Customer retention, on the other hand, will be solved through customer support, which again is managed by 2 to 20 people.
The customer is in the center of all of this. The businesses simply don’t exist without the customers.
For the longest time, the founders have worried mostly about the message that the business wants to be sent to the customers, while they also wanted to understand the message from the customers, it used to be difficult especially for the business to customer (B2C) startups. Thanks to the development of technology in the last 5 – 10 years especially in artificial intelligence and conversational ai, the founders have identified ways to understand the customers better.
Yes, all of this is common knowledge and most people know about these concepts!
Some of the most frequently used tools for marketing are Hootsuite, MailChimp, HubSpot, and Google Analytics. Hootsuite helps with Social media marketing and helps businesses to manage their Facebook, Twitter, Instagram, Linkedin, and Youtube. Mailchimp helps with every type of email marketing campaign that is out there. Hubspot is one solution for all marketing and sales needs.
But the question is, can an early age startup afford these tools? Maybe not!!
Google analytics helps with the analysis of the website traffic that is generated by all the channels used by the business as well as tracking conversion numbers. But the limitation of Google Analytics is that you can only analyse the behaviour of the customer based on the clicks and the time spent on a certain page, which might be skewed at times.
There are a lot of Sales CRMs that are available in the market starting from Salesforce, Freshsales, Pipedrive and many more. A sales CRM which will help you maintain the relationship with customers on Whatsapp will be crucial as most of the customers prefer communicating over WhatsApp. Sales automation on WhatsApp is need of the hour as it has a userbase of 1.5 billion users in 180 countries, makes it the most popular messaging platform.
When we think about customer support, we think about helpdesk software. Some of the most frequently used are Zendesk, Freshdesk, Intercom and many more. But again, the price can be an important limitation here as these helpdesks can be quite expensive.
At Yellow Messenger, we are working harder than ever to bring all these features into one product and into one offering which will allow early age startups to leverage the product throughout their journey, even after the IPO.
Being a partner with WhatsApp helped us research and develop features in the product that is assisting the startups to market, sell and support customers through WhatsApp. A large number of startups happen to be from India and Indonesia where the majority of the population prefer communicating on WhatsApp.
Customer relationship management and Customer support from one dashboard, used by Sales and customer support teams
This will allow sales agents to maintain relationships with prospects and convert them into customers over a period of time. It also helps the startup to assist customers throughout the customer lifecycle. Even when the customers have issues or complaints, they will be able to get them resolved through this module.
Marketing Campaign Management Dashboard
The prospects can be notified about new offers or can be sent reminders to complete the checkout process. This can also be used to remind customers about updates in the account or if any action is due from their side.
User Journey of a B2C Startup on Yellow Messenger Platform
A typical user journey of a B2C startup using the Yellow Messenger conversational assistant on WhatsApp looks like this:
- Precise Recommendations: Shopping assistant will recommend based on user personality, history orders, and chats.
- Product Discovery: Assistant will help users to search for relevant products based on the context.
- Product Queries: User can ask queries to the assistant about why a particular product is good, similar to the questions that they usually ask a sales assistant in a store
- Comparisons: Assitant can compare in real-time.
- Order Placement: Users can place an order and make a payment on the assistant.
- Order Tracking: Assistant will help users track the orders and receive notifications.
- Feedback and Complaints: Users can raise complaints or refund requests and chat with the human assistants.
- Promotions and Reminders: The assistant will share only relevant promotions and will remind the user to complete the checkout process.