Conversation Chronicles | October 2024
??A Happy Holiday and a fun-filled festive season to you and your loved ones!?
There are several ways to look at October which is gonna slip away from our calendars in 3..2..1. You could think of it as the antepenultimate month before a wonderful 2024 comes to an end or you could think of it as the month where joy and celebration take over everything else. This joy and celebration is a unique opportunity for brands to attract and convert customers as they loosen their purse strings.
Be it Diwali or the Holiday season, customers everywhere love discounts. And there's no better way to offer it than a personalized WhatsApp or RCS message. Pepper it with an AI chatbot and you have the best shopping assistant for their retail therapy.
In this issue, we'll tell you how Conversational AI can transform your festive season with engaging campaigns and exceptional customer service. Talking of customer service, it's important to mention Agent Assist- our solution in focus this month that empowers agents to not just support but also sell. And if you need some inspiration to get on the Conversational bandwagon, take a look at Treebo which saw 50% uplift in abandoned bookings with our solution.
Thanks to clients like Treebo, Gupshup is making waves! We launched in Saudi Arabia this month, had a successful Conversations event in Mexico and even won Economic Times Brand Equity's Martech award. October has been kind. Let's keep the kindness going- ? Like and share our newsletter and let us know if you're enjoying the quiz.
Now, let's dive into this edition....
Featured Read
In this festive season, shoppers aren’t just browsing, they are hunting for best deals and discounts. Conversational AI chatbots are essential in addressing these demands. They handle routine tasks, offer real-time support, and personalize the shopping experience — critical factors as over 50% of shoppers now expect customized interactions. Meeting these expectations can significantly boost revenue, with businesses potentially seeing a 15% increase in sales.
Solution in Focus
It’s the customer support tool that enables your support agents to address customer queries and concerns from multiple messaging channels. With advanced capabilities like intelligent routing, AI co-pilot and Click-to-call integration, brands can turn every live chat into a business opportunity. During peak shopping season when customer support becomes crucial, Agent Assist is the tool you need to keep customers happy and satisfied.
Quiz Time
Festive season is also a time for advertising blitz. This issue of Quiz Time is therefore dedicated to the world of advertising
2. What major sporting event is associated with the highest single-day advertising spending, where brands pay millions just for seconds of airtime??
3. Which famous Indian advertisement series started in 1966 with illustrations by RK Laxman and continues to be published even today?
Customer Spotlight
Hospitality Brand Treebo Club wanted to engage and remarket to high intent leads, make customer support easy, and solve for effective staff learning and development. It was able to achieve all these goals with its? incoming call volumes reducing by 60%, which helped in cost optimization of more than 66% in human agent costs. Besides, WhatsApp led to 93% participation rate for its staff training assessments.
Recommended Reads
As brands gear up for the holiday season, focusing on key trends that are redefining shopping can help them prepare in advance for the changing consumer behavior. Mobile Commerce, Omnichannel shopping, AI chatbots are some of the major trends that will determine choice of brands and loyalty for consumers.
领英推荐
Banking is changing. Through AI-powered chatbots and virtual assistants, banks can respond to customer queries in a human-like manner. Whenever a customer initiates a conversation, these virtual assistants analyze the input and also provide an instant response, which could range from simple inquiries about account balances to more complex transactions like transferring funds or paying bills.
Surprising Stat of the Month
The conversational AI market size is expected to reach US$ 39.55 billion by 2031 from US$ 8.45 billion in 2023 to record a CAGR of 21.3% from 2023 to 2031.
Source: The Insight Partners
Vocal for Social
Here are our top trending LinkedIn posts from this month
Industry Insights
If you’re even vaguely interested in the world of AI, this article deserves your time. Anthropic founder Dario Amodei’s longish piece is a thought-provoking exploration of the dual nature of AI. He suggests that powerful AI could operate like a "country of geniuses," capable of solving complex problems at unprecedented speeds, but also notes that real-world constraints—such as physical laws, data availability, and human factors—will limit its capabilities.
Upcoming Events
After a spate of successful events across India, UAE, Brazil and Mexico, we are proud to announce “Conversations” Riyadh, wherein we’ll be discussing CX transformation with Gen AI and chatbots. Join us on 7th November at Marriott, Riyadh.
And, we are going to be in Indonesia too, with “Conversations” Jakarta
Answers to Quiz Time
1. d) Apple integrated AR features into their advertising, allowing customers to visualize products in their homes during the holiday shopping season.
2. c) In 2024, a 30-second commercial spot during the Super Bowl cost approximately $7 million.
3. b) The Amul Girl began in 1966 and continues today, created by Sylvester daCunha and illustrated first by R.K. Laxman
Thank you for making it till here.
Till we meet next ??