In today’s subscription economy, customers have more choices than ever before. With new competing services rising daily, it is crucial to watch your churn rate. Managing your customer relationships becomes even more important. Ensuring your customers are benefiting the most value from your product is a must.

Conversational Marketing should be in your arsenal

Conversational Marketing is one method companies use to build relationships and learn more about their customers. With big data and influx of information from pixels, cookies, conversion rates, social data, there is an argument that Conversation Marketing may not be as powerful and useful. However, customer information gained through conversation marketing may lead to deeper behavioral insights and sales triggers than accumulating statistics from other channels.

Ian Lurie defines Conversation Marketing as a strategy for meeting age-old marketing challenges on the internet. It’s a methodology that makes use of the changes brought about by new, faster, more interactive media, without discarding the basic, sound principles of good communications.

How does Conversation Marketing tie in with Customer Success and Bots? Bots are tools used by Customer Success as part of a company’s conversation marketing strategies. The goal of Conversation Marketing and Customer Success is to maximize the value of your offerings. Making your clients more productive, efficient and satisfied with your solution. You maximize the value of your customers. The rewards are return buy, referrals, brand awareness or product feedback. For example, if a client is paying you $20 a month for your product, that’s great. You want them to pay $20 a month for as long as possible. But wouldn’t it be even better if they paid you $20, then $25, then $30, then $35 a month? This is what customer success can do, increasing your profits along the way. It is a meaningful channel of growth if done well. This is where bots come in. Bots can help your customer success team to perform more efficiently and build a better relationships with your clients.

What is a bot?

A bot is an automated software agent working for you to perform a simple task. Whether it is a chatbot (software agent that interacts with you through messages), UI bot (ie. allowing you to perform tasks with buttons), Voice bot (ie. using voice command for a task) or any visual bot (ie. getting chart of the market performance for the day). They all perform a certain specific task and any new task that are automated through an AI will become a bot.

On WeChat, you can use Tencent’s other services or third party services all from within the app. Whether its a loan or wealth management, booking a public bike or ordering a taxi, you do it all within the app. A bot comes into play to either help you order or perform a task or follow up with you after a service has been ordered. WeChat sends automated messages to let you know that your movie start time, when you receive money from your peers or when you need to top up your wallet. It is all automated by these agents we call “bots”