Conversational Commerce, the new way to build relationships between companies and their customers.
- Yalutec supports companies to connect, communicate and generate sales through messaging channels such as WhatsApp and Messenger, etc.
- Conversational commerce increases engagement between companies and their customers by 60% to 70%.
Guatemala, September 12, 2022. The pandemic has changed all industries. It has definitely transformed the way companies communicate and sell. This transformation has been faced with new consumer habits, which have been addressed through digitalization and omnichannel strategies.
Currently, in Latin America it is estimated that 84% of cell phone use is in messaging applications. In fact, 54% of consumers buy at least once a week through WhatsApp, this being one of the conversational commerce channels. C-commerce or conversational commerce is the empowerment of consumers to make purchasing decisions, acquire products or services and pay through messaging applications such as Messenger and WhatsApp. Through conversational commerce, 8 out of 10 people can be reached in emerging markets, with a greater impact on those who have never made a purchase in e-commerce or through apps. Definitively contributing to an increase in sales in digital channels.
Yalutec is a company created by Rafael Noriega and José Araguainamo, which seeks to support companies through the design, creation and implementation of digital transformation processes and projects through an ecosystem of solutions that includes allies such as Yalo, an automated conversational commerce platform; migo, a digital payment facilitator; and Yumpii, catalogs that adapt to the constant changes in the market and companies. “Our reason for being is to support our clients through the creation of ecosystems of digital solutions to generate connections with their clients, through conversational channels,” said Rafael Noriega, Founder of Yalutec.
An analysis by the firm McKinsey estimates that the set of solutions to activate conversational commerce increases engagement between Central American companies and their customers by between 60 and 70%TP3T.
Yalo, a Yalutec partner, helps companies create strong relationships with their customers through the most popular messaging applications in the world, such as WhatsApp and Messenger, and combines the omnipresence of online messages with the power of artificial intelligence to interact with users through bots.
Among the companies that have implemented conversational commerce in their business models is Elektra, who, faced with the uncertainty of the restriction measures, made the decision to look for new channels of contact with customers through Yalo. In this way, they managed to strengthen their digital ecosystem, since the WhatsApp channel went from being a customer service channel to a revenue-generating channel for the company, increasing its conversion rate on high-ticket products by 20%.
Also within Yalutec's ecosystem of solutions is migo, an omnichannel platform for digital payments, which allows users to make payments using their preferred methods, thus reducing friction at the time of the transaction.
According to Gustavo Mérida, Director of Digital Marketing at CMI, Migo has managed to centralize all payment methods, thus achieving extraordinary shopping experiences. “Conversational commerce has helped us reach our customers, which provides the agility and speed to find solutions that give better results. Starting to see a commercial return on the most used communication channel is a great achievement for any company. The future is already here and it is conversational commerce,” said Mérida.
Through the Yalutec solutions ecosystem, it is now easier for consumers to explore product options, make their purchases and pay through messaging applications. With this, it is clear that brands and companies must implement conversational commerce in their business models. The pandemic forced many companies to carry out this digital transformation in an accelerated way. This went from being a “plus” to becoming a necessity. But, it is curious that even today, there are companies that have little capacity to respond to customers, or that have an absence of this type of automation in their processes.
For this reason, it is very important to create spaces to talk about conversational commerce and to add traditional industries to this conversation. Yalutec was present at the Volcano Innovation Summit, where a panel of experts discussed the relevance of digitalizing traditional industries to sell more through messaging applications.
The panel was moderated by Rafael Noriega, founder of Yalutec, and included the participation of Manuel Centeno from Yalo, Juan Forero from McKinsey, Gustavo Mérida from CMI, David Rivas from Grupo Salinas and Alfredo Castañeda from Apex Global; as well as the attendance of participants of various nationalities. This was the third edition of the event, which brought together leaders and entrepreneurs from around the world to share experiences and visions for the future.
During the panel, David Rivas from Grupo Salinas said, “When the pandemic hit, we began this adventure of digital transformation. We started to engage in conversations on communication channels such as WhatsApp. We focused on the experience, on understanding the customer, and we understood that if we can provide an extraordinary and agile shopping experience, it is through conversational commerce.”
