Conversational marketing is an exciting new way of generating conversions by connecting with customers through conversations. It makes the buyer journey smoother and the experience of each prospect – more personal.
Let’s have a deeper look.
What Is Conversational Marketing?
Conversational marketing is a personalized, dialogue-driven approach that enables you to have real-time interactions with prospects and customers across multiple channels.
For SaaS businesses, conversational marketing is a tactic to improve online customer experience, as well as to nurture customer relationships.
Although traditional two-way communication channels, such as email and phone, can be part of a conversational marketing strategy, the majority of these personalized interactions are enabled through live chats and chatbots.
Live chat and chatbot marketing mimic casual dialogue. They’re building relationships with customers through conversation, instead of asking them to go through lead forms and wait for a response.
Enablement Marketing In Action
Insent, a conversational marketing SaaS platform, offers real-time lead qualification and true personalization options. Focused on B2B mid-market companies, Insent’s human-first chatbot enables marketers to identify and speak to their most engaged prospects while offering highly personalized context.
Arjun Pillai, founder and CEO of Insent, shares that the key to a successful conversational marketing strategy is “putting yourself in your buyer’s shoes and flipping your thought process from spammy marketing to enablement marketing.”
So, how does Insent enable a buyer who is landing on the website, and how do they make the experience frictionless?
The answer lies in human-first chatbots and using less gated content.
On Insent’s website, the company has just one form (email) and one type of gated content (competitor data). What’s even more, their chatbot will interact differently depending on where you come from and how many times you’ve visited the website.
For first-time visitors, the chatbot won’t immediately ask for an email or request to schedule a meeting. Rather, it’ll give the user plenty of content to engage with first, allowing them to compare Insent to other companies.
Chatbots in Conversational Marketing
In a nutshell, chatbots are AI software programs that use natural language and programmed responses to have a conversation. They can react differently based on customers’ needs to answer questions, schedule appointments, navigate users through the site, and even take orders.
Even more, chatbots minimize the need for users to scroll through pages or get to the search bar to find what they’re looking for, effectively saving time and enabling conversions to happen more quickly.
The number of demo conversions that come from chatbot marketing can vary from business to business. For Insent, 40% of conversions come through chat. However, Arjun adds: “if you submit the form on the website and click on get demo the chat will pop up. The forms are integrated into the chat, enabling users to pick a demo in real life. 60% of the form fills will result in a meeting because of the form-based acceleration that we have enabled.”
Arjun further shares: “today, chat is adding 10 to 20% of leads to your funnel, and I see that growing to 30%. But I still think that 70% of your leads will continue to come from elsewhere. You can expect 15 to 30% to come through chat as a channel.”
Effectively, chat as a channel is a combination of the content you provide, your chatbots, and your live agents.
While chatbots for marketers help scale existing communication and encourage conversions, it’s still worth noting that thinking of chat as a demand gen bot instead of a channel can lead to chatbot fatigue. Insent’s CEO shares:
“I think there is [chatbot] fatigue, and the reason is that chatbot is seen as a glorified form and not as an actual channel. Of course, you can take emails, you can book meetings, but you should also engage with the person, give them personalized content, help them to learn more about who you are. Once you do all of these things together on chat as a channel, people will not get fatigued with it.”
Conversational Marketing Mix
Although the popularity of conversational marketing is skyrocketing, conventional marketing methods still work great for SaaS.
Essentially, traditional marketing strives to attract customers through the channels they prefer. Conversational marketing is the method of actually “talking” with them on these channels.
Together with conversational marketing, Insent is implementing a number of tactics to acquire new customers, including SEO and paid ads. A big part of their traffic also comes from email campaigns, as well as word-of-mouth and referrals at conferences and roundtables.
Insent’s Pricing Strategy
Overall, SaaS pricing pages account for a range of your business factors, including marketing objectives, target audience, revenue goals, and brand positioning. They can also be influenced by different external factors like market trends and consumer demand.
Insent has implemented a “request price” strategy. Arjun from Insent explains: “we are typically selling to big market companies and enterprises, so we are trying to align our sales to their buying motion as much as possible. Their buying motion, in most cases, is come and get a demo, talk about the details, and then get to the pricing.”
It’s also important to remember that pricing is an iterative process, and it might take a couple of tries to set the right pricing strategy for your business.
Although their pricing strategy is still in an experimentation phase, Insent is firm on opting out for a no self-serve module for three main reasons:
- Selling to big market companies
- Carrying out a customer-success-heavy conversational strategy plus implementation
- Focusing on product-led growth
Case Studies in Conversational Marketing
Conversational marketing is a great way to drive user engagement. It can help expand your customer base, encourage customer loyalty, and boost sales.
Moving forward, Insent aspires to leverage their conversational marketing strategy to expand their case studies and “solve some really awesome problems for B2B marketers. We want to help them [B2B marketers] to adapt to the real-time paradigm”.
“The forms will continue to exist for another 20 years, but chat will be at table stakes for every single B2B company.”
Conversational and intelligence-based marketing is only the beginning of future marketing personalization. Head over to our blog for more inspiration.