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The Impact of Chatbots on Customer Support in the E-Commerce Sector

 in a fi rm’s client base, ROI in the social media realm can also be measured in terms of driving traffi c to the fi rm’s website, increased online chatter regarding the fi rm’s brands or products, an uptick in e-mail registrations, or an increased awareness of a fi rm’s identity, expertise, and role in the marketplace relative to its competitors—to name only a few. 16 Fortunately, 

numerous software companies have produced analytics programs that can help companies collect a host of information about the social media tactics that work and the strategies that establish the strongest connections between the company and the user both online and offl ine. Furthermore, the ROI of social media should go beyond the usual metrics since it is more about “helping people, communicating [fi rm] values and reaching people who care about 

what [the fi rm has] to say” according to Vanguard’s social media principal, John Buhl. 17 Additionally, most social media platforms are free to join and to use, so these efforts can also help reduce marketing and customer service budgets over the long-term. To help people create and maintain the social relationships that are at the core of a successful social media 

Strategy the business must have a specifi

chosen purpose (or purposes) for its social media interactions. The biggest social media pitfall any business should avoid is the practice known as “provide and pray.” 18 In the “provide and pray” model, the business provides access to the technology, such as by creating a Facebook page or a Twitter account, and then prays that a community forms or interactions start 

occurring among the business’ followers in such a way that it benefi ts the business. 19 While communities may form and interactions may occur, they will most likely not be of any value to the company because it is not steering the conversation in a direction that comports with its business goals. A specifi c, designated purpose is important because it “becomes the cause around which people will rally and be inspired to act.” 20 For any business, including the fi 

nancial services industry, we believe the specifi c purpose for adopting social media will most likely fall into one of four categories: • Branding or advertising; • To form and mobilize a community or group; • To take advantage of the live search capabilities facilitated by social media platforms; and • To provide effi cient and cost-effective customer service. 21 In the 

Following sections we discuss each purpose

along with the risks and regulations that affect fi nancial services companies as they try to achieve the respective purposes. BRANDING OR ADVERTISING Effective Use of Social Media. As any Facebook user would most likely attest, one of the key features that promotes return trips to Facebook’s site is the newsfeed. The newsfeed is the centerpiece of the 

Facebook interface and it is a “constantly updating list of stories from people and Pages” 22 (including businesses and organizations) that a user “friends” or “likes” on Facebook. This simple list enables users to catch up on all the information that their friends have pushed out recently and it allows users to comment on or “like” this information. In a similar fashion, LinkedIn also provides a “newsfeed” that enables users to see changes that their 

connections” have made to their profiles—new jobs, new degrees, new work experiences, etc. Meanwhile, the Twitter experience almost entirely centers on a constantly updating list of status updates, limited to 140-characters, posted by Twitter users that one chooses to “follow.” Being listed on a user’s newsfeed or Twitter feed is crucial to a business’s marketing efforts. 

The newsfeed enables businesses to push

out information directly to the users who follow them, akin to a RSS feed about the company. This functionality essentially enables a business to provide unlimited free advertising for new products, deals, and promotions, and it can also be used to help develop a company’s brand. TherefoAlmost every company has been driven by the COVID-19 epidemic to rethink how 

they run. Strategy and communications for CMOs have had to change in real-time maybe with much lower budgets to show sensitivity to what was happening in the life of their consumers and to help to control expenses in uncertain economic times.Organizations seeking ways to enhance the consumer experience in our new environment are looking for ways to change 

their marketing initiatives to be even more digital, targeted, exact, personalized. No longer meeting the demand are mass ads and even customized marketing grouping consumers by persona or segment. And, with cost-consciousness remaining first of mind, it's more critical than ever to spend money intelligently, improving your marketing approach to target consumers with relevant and contextualized offers.Reacting to shifting consumer impressions 

Conclusion

and market conditions calls for a capacity to adaptThe most sophisticated approach businesses may use to customize their marketing for particular consumers is hyperpersonalizing. It is accomplished by using data, analytics, artificial intelligence, and automation to design unique and focused experiences.Companies can send highly 

contextualized messages to particular consumers at the proper moment and place by means of hyper-personalization, and via the appropriate channel. Hyperpersonalized marketing offers companies the chance to significantly interact with consumers, strengthen current relationships and create new ones as digital marketing gets more competitive, therefore enhancing the customer experience.Using this kind of approach not only raises customer 

satisfaction but also stimulates brand loyalty, consumer willingness to pay, and general marketing efficacy.ust understand that offering a first-rate client experience not only expected but also a competitive advantage. In the competitive digital environment of today, experience is essential to attract new clients and keep current ones as well as either retaining or growing share of wallet. Given that more globalization gives consumers plenty of options, customer 

experience is growing in significance.Indeed, 97% of executives agree that building loyal and long-lasting customer connections depends on customer experience management as a basic  business strategy.One But brands have to employ data and analytics to better know their consumers and leverage artificial intelligence to produce real-world interactions and the hyperpersonalized experience consumers today demand in order to meet and surpass

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