Have you ever noticed how big elephants are chained using small, thin chains? These chains are not strong enough to hold them. Still, the elephants never try to break them. Why? They are used to being chained with the same chain since they were small. They believe that they won’t be able to break them.
When you believe in something so strong, it goes a long way. Nikhil and Aniket, the co-founders of Limechat strongly believed in the problem statement they are solving which led to the next step in conversational marketing - World’s first level 3 conversational AI.
The pandemic pushed retail spending much more than expected. As a result of which, a lot of e-commerce businesses didn’t want to pay Amazon commissions and moved to their own online shops. During the same time, Nikhil and Aniket were facing issues with small things like getting the internet service changed, phone number changed, and whatnot.
When it takes an extremely complicated process and time to solve a simple problem, you start looking for opportunities to improve it. It takes around 1-8 hours of turnaround time for even simple problem resolution. This kind of waiting time would not work for e-commerce companies. They tend to lose a lot of potential customers. The personal frustration has led them to talk to a lot of companies.
On the other hand, an ECom brand has made a good sale to Aniket through Whatsapp. How cool is that? You get to know everything about the product from pricing to variations without having to go to the website.
Nikhil and Aniket being deeply passionate about AI exited Konscience, news and social media analytics platform for political campaigning to start Limechat. Limechat is the first level 3 AI chatbot for e-commerce.
How Limechat can help businesses?
Limechat uses first level 3 AI i.e., a human-level chatbot. They will be able to respond to even 2-3 sentences of queries. A lot of people don’t just get convinced when they visit a website for the first time. They have a lot of questions. Most of the time, these simple questions convince them to make the purchase. And no one has the time to read through the FAQs. This is where LimeChat can jump in and help you solve your potential customer’s queries without having to scale your CX team. LimeChat offers conversational experiences to customers on Websites, Apps, Whatsapp, Instagram and Messenger.
How The Man Company increased their sales by 3X using
LimeChat?
The Man Company, the premium range of Men’s grooming products has faced a lot of challenges such as loss of impulse purchases, Multiple decision-making steps, and drop off due to detailed product detail page.LimeChat was able to solve these challenges and was able to achieve a 12% conversion rate. Not just that, using LimeChat, they were able to automate 70% of the support tickets and increase sales by 3X.
LimeChat Funding
LimeChat has raised $750,000 in a seed funding round led by Pi Ventures, Stellaris Venture Partners along with participation from angel investors such as Kalyan Krishnamurthy, the Flipkart CEO, Sujeet Kumar, Ramakant Sharma, Dilip Khandelwal and others.LimeChat had raised pre-seed funding round from Titan Capital early last year.
The Road Ahead for LimeChat
We asked Pallavi Juneja, Content Marketing Manager at LimeChat what’s next in the pipeline for LimeChat. She says: LimeChat’s customers are majorly Indian e-commerce brands and in the coming future, we are looking to increase their international customer base. As we now know where our audience is, we would want to educate these problem unaware audiences about conversational marketing. The audience is new to the topic and the challenge lies in explaining them in a simpler manner. We’d also like to put more focus on the existing customers and help them get the best out of the product.
There are multiple other AI chatbots available. They work across industries. Interestingly, LimeChat focuses only on the e-commerce industry and helps amplify your brand’s growth using the world’s first Level 3 Conversational AI.
