Nibble, the AI negotiation chatbot that lets brands negotiate with customers 1-1 at scale, has been announced as a finalist for the eCommerce Innovation Award at the 2023 UK eCommerce Awards.
So, what sets this chatbot apart from others? Nibble, which sits on product pages or carts, engages customers and finds a win-win deal for both customer and retailer in less than 60 seconds. It has been proven to preserve margins, increase AOV, clear stock faster and increase conversion. Forget the days of blanket 15% or 20% off voucher codes; Nibble’s average agreed discount is just 7.6% for the same or better conversion rates and AOV.
We are all aware that eCommerce has fallen into a trap of over-discounting, with many brands losing control of their promotions – and their margins – under pressure to boost revenue or clear stock. As a result of this, they give away more than their customers need to be convinced to purchase. Nibble lets retailers decide on the maximum discount they’re willing to give and how Nibble appears, and AI negotiation handles the rest – appearing when most needed to capture sales that could otherwise be lost.
What Nibble clients are saying
“Nibble’s fun chats in our brand voice have delivered higher AOVs for lower discounts; most importantly, our customers love it.” – Kathleen Loftus, Global Digital Director at ICONIC LONDON
“We wanted to target high-intent customers strategically with subtle discounts that wouldn’t impact full-price sales. Nibble has been the perfect tool to let us clear stock without damaging our margins.” – Alex Shirley-Smith, Director at Tentsile
“With Nibble, we are capturing customers we would otherwise lose, adding $10,000s of additional revenue and at higher margins.” – Johanna Ortiz, Director of eCommerce at Capsuline
Nibble’s chatbot combines conversation design best practices, generative AI, and negotiation science to deliver engaging, entertaining, on-brand conversations to customers that don’t just focus on price, but also talk about the value of the brand and the customer to establish an emotional connection that seals the deal.
During negotiations with Nibble, customers feel like an active, individual participant in their transaction. They engage with and share their motivations, limitations and expectations, consequently agreeing on a deal – at smaller discounts than if the brand used traditional promotions or discounting strategies. Meanwhile, brands get to deliver individual deals, preserve margins, and protect their brand values. This innovation is live on over 300 retailers, driving 35,000+ negotiations per month and converting $100,000s of higher-margin baskets.
For more information on Nibble, check out www.nibbletechnology.com.