‘Haptik’ joins hands with vCommission to boost Conversational AI
Haptik, a conversational AI platform announced its alliance with vCommission, a Global affiliate network, to implement Conversational AI solutions in performance marketing. While Haptik will work with publishers in integrating chat bots on their digital properties, vCommission will work closely with marketeers to offer performance based advertising options which is non-intrusive ad experiences within these properties.
With affiliate marketing set to grow in leaps and bounds in times to come, the association is the most opportune. The industry is expected to grow at a CAGR of 27% and be worth USD 835 million by 2025, as per the industry reports, resulting in a staggering 8X growth when compared with the current valuation of USD 96 million.
Conversational AI is expected to usher the sector in its next stage of disruption and growth. In the past, most of a marketer’s attention has been devoted to engaging with audience across screens via taps, clicks, likes, comments, and shares. However, chat bots are moving the metrics of engagement by turning the attention towards conversations. As industry pundits are often heard saying, marketing as a discipline is headed towards ‘interactions’. Thus, every kind of user engagement must appear as a conversation, a feat easily available with the adoption of chat bots in the domain.
In order to simulate an interactive experience with the help of conversational AI, one requires experienced storytellers to help chat bots humanize the conversations. In this domain, Haptik has an experience of building over 100 chat bots, processing more than a billion conversations across multiple industry verticals including e-commerce, banking, insurance, telecom, hospitality, healthcare and automotive.. This experience has come in handy when the promise of technology is a reality and the market is ripe for adoption.
“Chat bots are the future and we are glad to bring about this new media in the affiliate marketing space, by partnering with Haptik. Their expertise in the domain will help vCommission bring innovation in otherwise cliched engagement & lead generation space. Having personally witnessed their complete stack of tech brilliance, we also look forward to creating awareness about Haptik’s chatbots amongst our sprawling network of associates and brand partners,” said Parul Bhargava (Co-Founder & CEO, vCommission).
Commenting on the association, Mr Aakrit Vaish, Co-Founder and CEO, Haptik said, “Leading the space of conversational AI, we have been looking for the right opportunity to diversify our reach and touch upon the performance marketing space. By associating with vCommission, we believe that the time is ripe for us to introduce chatbots for marketeers. With our domain expertise, we will be able to humanize the experience and further help the brand partners of vCommission to successfully reach and engage with their audience, despite the bottlenecks arising out of ad-blocks and frauds.”
Chatbots also aim to resolve the challenges daunting the rise of affiliate marketing in India. These challenges include ad-blocking, which causes significant revenue loss to the performance marketing industry.
Furthermore, the industry also suffers at the hands of its own fair share of frauds. For instance, using stolen data for lead generation or stolen credit card details to generate sales. Lastly, scammers may also get people to download adware or spyware that automatically insert the affiliate code.
Since chatbots orchestrate a 2-way interaction, thus the user engagement with chatbots is organic, minimising the risk of fraud and completely by-passing ad blockage.