What Is A Conversational Growth Strategy? A Complete Guide

What Is A Conversational Growth Strategy? A Complete Guide

Conversational growth strategy can play a key role in growing your business. Read this blog to learn how to identify your target audience and improve brand loyalty!

Mar 21, 2024

Businesses are constantly seeking new ways to connect with their audience and build long-lasting relationships. Conversational growth strategies are an effective approach that lets you engage with your audience, drive better conversion, and improve customer retention.

Research shows that 80% of customers are more likely to make purchases with brands that offer personalized experiences. This shows that customers want businesses to understand their preferences, concerns, and pain points before they make a decision. Unlike traditional marketing methods, conversational approaches utilize AI support to empathize with customers, deliver personalized experiences, and boost business growth.

Let’s see what is a conversational growth strategy and how you can effectively implement it in your business.

Key Takeaways

  • Conversational growth strategies allow businesses to connect with customers on a personal level, addressing their unique needs in real-time chats.
  • Having real conversations with customers helps businesses gather valuable insights for making informed decisions and creating targeted marketing campaigns. This data helps companies better understand what customers want, leading to higher conversion rates.
  • By constantly evaluating and refining their strategies based on feedback and performance metrics, businesses can stay flexible and responsive to changing customer preferences. This ongoing process ensures long-term success in today's competitive market.

What is a Conversational Growth Strategy?

A conversational growth strategy refers to the use of two-way communication to drive engagement and business growth. It focuses on engaging your audience in meaningful conversations that help build strong relationships and eventually turn them into loyal customers.

When a customer reaches out to your brand, conversational growth strategies help you to understand their needs and respond in a personalized way. They enable you to deliver relevant information to the customers that create a positive perception of your brand and encourage customers to come back for future interactions.

It revolves around the use of AI chatbots and conversational AI apps to engage with customers in real-time conversations. It's all about delivering the right message to the right person at the right time.

Why Do Businesses Need a Conversational Growth Strategy?

Conversational growth strategies improve the performance of sales, marketing, lead generation, and customer support. Above all, they help you create a seamless customer experience towards the sales funnel. Let's look at some of the major reasons why it is good to have a conversational growth strategy for your business.

1. Create a Smooth Buyer’s Journey

People nowadays have a shorter attention span than a goldfish. This means, you have only 7 seconds to grab the customer’s attention or else they will leave the conversation. While browsing through your website, users may find it difficult to find relevant details such as product features, price, or payment methods, the use of conversational applications answers all customer queries on a single platform and helps them make a quick buying decision.

For example, if a customer is unsure about which dress size is right for them, they can quickly  chat with a representative and clear their doubts. Similarly, a chatbot on a travel website can ask a buyer about their preferred destinations and help them design a tailored vacation plan.

2. Collect Valuable Customer Data

A conversation between two people is the most natural way to connect and communicate. We all meet with people and end up sharing our personal information (name, email, interests) without even realizing it. This may look like a very unimportant detail in everyday life but could be the most valuable asset for a business. Let's understand this with an example:

  • Customer: “ Hi, can you share details about your fitness tracker watch?”
  • CSR: “ Hi, thank you for your interest! Can you please tell me which fitness activities you typically enjoy”
  • Customer: “ I love doing yoga at home and going hiking”
  • CSR: “ Our new smartwatch has built-in GPS and activity tracking features which are perfect for hiking”

More than 80 percent of businesses are using first-party (authentic) customer data to personalize customer experience. This can help you achieve higher engagements and more conversions.


3. Improved Customer Satisfaction

At the end, the conversations are all about building 1:1 relations with people. We learn more when we interact and exchange ideas with each other. A conversational approach in business communication breaks the barriers and builds authentic relationships with your audience. It helps you understand customers' behavior better and provide immediate support to them.

The use of conversational apps e.g. AI chatbots enable you to provide proactive support to your customers and collect valuable insights about their experience. It helps customers feel valued and supported which eventually leads to increased satisfaction and strong relationships with your brand.

5 Steps To Design a Successful Conversational Growth Strategy

As you know the value of conversational growth for your business, let's see how you can design and implement successful strategies for your business.

1. Identify Your Target Audience

Who are your customers? What do they want and how do they see the world? The better you understand your target audience, the better you will be able to connect with them. Here are some essential elements to consider before designing a conversational growth strategy:

  • Demographics: Factors such as age, gender, location, or education level can help you create a profile of your ideal customer. This gives a clear picture of the communication style, purchasing power, and preferred language of your audience.
  • Customer Surveys: Customer surveys, interviews, and polls can give you direct insights into your target audience’s thoughts, behavior, and lifestyle preferences.
  • Market Research: It is important to analyze market trends, competitors' strategies, and existing customer data to see who can benefit the most from your products/services.

2. Choose The Right Strategies For Engagement

Using multiple communication channels helps you reach a wider audience and cater to their preferred interaction style. Here is how you can utilize websites, emails, and social media messaging for conversational growth:

  • Website: Use chatbots to answer basic customer queries, provide product information, and answer FAQs. Along with that, enable real-time live chat with your customers. Human support is necessary for dealing with complex and technical issues.
  • Social Media: 77% of the millennial audience engages with their favorite brands through social media. Make sure your chatbot and live chat support work the same way on social media applications. Engage with your younger audience through Q&A, giveaways, and contests.
  • Email: Switch to email automation to send personalized emails to customers based on their interests, purchasing history, and demographics.

3. Encourage Dialogue Throughout The Customer Journey

More than 71% of customers prefer real-time communication with online services. Customers are more likely to feel confident in their decisions when they can directly interact with a brand and receive consistent support for their issues. Make sure to actively engage with your customers at each stage of the customer journey.

If a customer books an appointment, guide them about the available time slots and send gentle reminders to avoid missing appointments. Once a customer places an online order, send automated updates about confirmation, delivery status, or even flight confirmation (for travel companies) to stay connected with customers.

Similarly, if a customer wants to return or exchange a product, help them with the initial process and guide them toward the nearest store.

4. Create Conversational Marketing Content

AI chatbots help you collect relevant and valuable customer details. This data can be used to create targeted marketing campaigns and personalized marketing content for your customers. According to research, more than 40% of customers want brands to personalize their interactions as per customers' preferences. Here are some key strategies:

  • Send customized content to your customers based on their data, location purchasing history, or browsing behavior. This helps you create content that resonates with each individual on a personal level.
  • Address users by their names in your content and tailor your CTAs as per their needs. This can create a personal connection and increase the likelihood of customer engagement.

5. Evaluate and Optimize

After designing and implementing a conversational growth strategy, monitor key metrics to evaluate your performance. Check response rates, click-through rates, and dwell time in conversations to see how well your content is performing.

Conduct regular customer feedback through surveys, questions, and direct conversations with customers. This will help you identify areas of improvement and optimize your conversational growth strategies.

Conclusion

Conversation growth strategies utilize dialogue and active communication to engage with your audience and provide a personalized customer experience. By understanding your target audience, and employing different communication channels such as AI support and chatbots, you can create a seamless customer journey, collect valuable data and provide an unparalleled customer experience.

Build your own conversational growth strategy with Aidbase. Our AI chatbot customer support helps you provide 24/7 support and stay connected with your customers.

Syed Hassan Zaman