We are living in a world of bots, without even realizing we are interacting with them. Take the example of website chat with your bank or amazon, etc. A lot of our regular queries are handled and responded to by the bots. Only in such situations where a bot cannot address the queries and a human intervention is required, the bot transfers you to a person, just like the automated telephone system.
There are other places where a bot can do most of the repetitive work that a human can do. For example reviewing invoice, checking payments, automating back office process, etc.
Prepare Your Business for Future with Chatbots Benefits
AI-powered Chatbots are gaining prominence with businesses with better results being shown in customer communication. They provide a whole new experience to the customers, as well as accurate, timely & consistent information customers seek. So, for any business with the idea of improving sales & service, planning to embrace bots will help a long way to achieve those goals.
Engaging successfully with a customer and convert them for business or provide satisfactory service is what all businesses dream about. So, it might be a good idea to get started with bots in such areas where customer engagement is a concern, which might help achieve maximum benefits. The frontline interaction with the customers has to be smooth and reassuring, which will go a long way to establish and enhance the comfort level of the customers. This holds good for all the customer touchpoints, sales / marketing / support.
With a host of benefits on offer, not embracing AI-powered chatbots will only make your competitors who offer this service stronger, and would be a potential mistake for your business.
Chatbots – Financial Benefits for Businesses
Chatbots are proving to be highly efficient in engaging with existing customers, to build new customer relationship, and is gaining widespread acceptance by businesses of all sizes and industries. There are many different ways a chatbot can positively impact customer communication and drive business growth.
- Customer Interaction / engagement
- Improve Logistics operations e.g. create vendor order based on customer order, for drop ship
- Generate quality Leads
- Reduce Customer Service Costs –e.g to answer repetitive questions
- Smoothen Customer/vendor/employee Onboarding Process, provide support videos
- Automated Training to employees
Needless to say, a software bot is a one time investment. No need to have a dedicated person, insurance, building etc. The cost savings and the ability to support customer’s needs at the time of request goes a long way in retaining or bringing in new customers. Some of the potential cost savings are given in the pic above.
(Source – https://blog.resellerclub.com/how-to-use-chatbots-to-increase-conversion-rates/)
Other key differentiators of a AI powered Bot from human powered processes:
Availability
Bots are available 24X7. The bots can be made to perform a wide variety of tasks – to provide information to order booking. Addressing customers’ needs instantly improves their satisfaction levels. Imagine the hassle when you are desperately seeking information or help and there was no one to provide it ? It leads to frustration and eventually disengages the customer from your business.
Consistence and Predictability
The use of chatbots can help businesses maintain a great level of consistency in answers and improve customer experience with the brand. However, the downside is that a user may miss the human touch and possibly the emotion that comes with it.
Personalization
Bots can be made to have one-on-one conversations with the customers or prospects. The bots can have customer information, so it can facilitate the conversation in context, and also maintaining a natural-sounding tone.
Leverage Bots to create and fulfil Orders
The bot that you see in the website is just one of the use cases. You can leverage the bot to book orders, create support ticket, provide order status, or any repetitive tasks without any human help.