Conversational commerce (“c-commerce”) in a nutshell, is the process of acquiring goods and services through messaging apps. It is set to be the third major pillar of commerce, joining ‘bricks-and-mortar’ retail with e-commerce by gluing together all channels.
C-commerce unlocks the full potential of personalisation by identifying customers via their phone numbers or chat app id. C-commerce is fast becoming an essential component of an omnichannel sales strategy for brand owners. Recent research predicted that the total spend over c-commerce channels will increase by 590% to reach $290 billion by 2025. In the past two years, more than €2 billion has been invested in seed and growth funding for c-commerce operators.
Conversational sales have up to a 10x conversion success rate compared with regular e-commerce sales.
SMS and chat messages enjoy a 98% opening rate. SMS messages are generally opened within 90 seconds of receipt with a response rate of 45%, compared to just 8% for emails. Conversational sales have up to a 10x conversion success rate compared with regular e-commerce sales.
Cloda’s figures are compelling with a customer retention rate of 48% and a multiple re-order rate of 32%. Cloda provides automated sales ‘out of the box’ and the Cloda portal allows clients to ‘assist’ in sales. Cloda is fully integrated with leading e-commerce platforms, WooCommerce and Shopify, so there is no additional set-up required for the business. All transactions are automatically fed into the e-commerce platform. All payments are processed using Stripe.
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