Video Chat Solutions for Today's Digital Manufacturer
While there are many different types of manufacturers, the constant across all of them is the change in consumer buying behaviors. The consumer spends directly with manufacturers has increased through e-commerce purchases either directly or through online marketplaces.
About 71% of consumers are shopping online to find the best price, a process that is commonly now referred to as “showrooming” (checking your smartphone for the best price when in a brick and mortar store), and “webrooming” (comparing multiple e-commerce stores to find the lowest price). Alongside this, mobile app downloads soared, increasing by 44%, helping haul in around $40.58 billion for online retailers. 94% of companies see “higher engagement and conversion rates” as benefits of a commitment to customer experience. Not shockingly, the average cart abandonment rate has increased from 71.39% to 77.24%.
Manufacturers are at a crossroads, they want to sell directly to consumers to make higher margins, however, they need to be able to provide “showroom” like experiences to increase conversion rates. Video chat solutions for manufacturers create the perfect solution to increase customer experience and engagement while reducing cart abandonment and expansion of brick and mortar showrooms.
Consumers have gotten smarter on their buying decisions, which is a direct reflection of two industries recent growth. The global major home appliance market is estimated to be nearly 640 million units in 2016 is forecast to reach 800 million units in 2020 ($590B). Previously, consumers were not comfortable with making these (over $500) buying decisions online and wanted to go into a brick and mortar store to do so. However, consumers are price shopping now more than ever and convenience of being able to buy it online vs. the hassle of going into a store is contributed to this growth.
The new problem that manufacturers are now facing is how to sell directly to consumers more effectively. Video chat solutions for manufacturers allow consumers to directly to connect to showrooms regardless of location to a sales specialist to ask questions, get a personalized video visual of the product to purchase online. This could substantially reduce the cart abandonment and increase the conversion rate.
In addition to video chat sales, the solution allows manufacturers the ability to service and repair remotely through video visualization. Video chat affords companies the ability to fix the problem remotely for 15% to 30% of service calls received. At $100 per truck roll saved, the ROI is significant. Furthermore, warranty and service call through video chat can reduce text and audio communications by 50-70%.
Video chat solutions for manufacturers allow for the highest convenience and engagement while increasing revenue and reducing costs.
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