A seismic shift has been observed among the websites lately. Did you see the small window trying to pop up in the lower right-hand corner? It is found on almost every website brewing up these days. And the rise of AI chatbots seems to be gaining momentum like none other technology.
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Let’s Get Acquainted with Chatbots
We, humans, tend to be social butterflies or charged chatterboxes whether the communication is via phone calls, video call or a messaging app. According to stats approx, 1.4 billion people are found willing to talk on chatbots.
Some other interesting stats include:
- Around 35% of people tend using chatbots to resolve a complaint or a problem or any other detailed query.
- 40% of millennials claim to engage with bots on a daily basis.
- Businesses can save up to 30% on their customer support costs
The Phrase “Hi, how may I help you?” seems to be gaining a lot of attention. And it may quite interest you to know that since 2017 consumers are found preferring to communicate with artificial intelligence. Being programmed to answer the most common questions at a lightning speed. Therefore, for the most part, that works in our favour. Automated support is something we are indulging in more.
Slowly and steadily they seem to be making headlines day in day out as more and more business verticals are found adopting them. Now let’s figure out how these AI chatbots are being used other than address customers promptly.
- Getting a quick reply
- Resolving a complaint
- Connecting with a human customer service assistant
- Make a reservation
- Pay a bill
- Buy anything basic
- Generating new purchasing ideas
- Communicating with multiple brands
Advantages of Using Chatbots in Customer Service
With the increase of artificial intelligence and machine learning technologies, chatbots seem to have become an invaluable asset for conducting customer service operations. Let us find out how?
#1 24/7 Support
Imagine your customer can reach you at any point in time. Of course, one cannot afford to hire a support team sitting all day and all night long. These AI chatbots can provide great support by immediately answering your valued customer and increasing the retention rate simultaneously.
#2 Response Speed
Another major advantage offered by these bots is a speedy response. Since chatbots react in a split second, you presently don’t lose those individuals who get exhausted of waiting. Also, instant replies are the best way to reduce frustration and fill in for agents when needed.
It may quite interest you to know that artificial intelligence technology has the potential to handle thousands of customer queries at once over multiple languages. Also, technology does have the potential to understand different intents. The versatile, useful bots won’t be replacing human agents but they will reduce the need to employ multilingual as their staff members.
#4 Patience to the infinity
Another interesting aspect here is no matter how many times a customer repeats or loses his mind or yells, the technology will answer patiently and politely. Impatience is something these bots are incapable of. At the same time, companies can keep consumer satisfaction high.
#5 Personal Touch
The AI chatbot is quite a number, the technology can act as your personalized shrink where anybody can open up in no time. Likewise, they can help with conveying more customized encounters than client care experts by getting to the historical backdrop of your communications with the organization.
So that was from the customer perspective. Now it’s time to unveil the key advantages of using bots from a business perspective. The interesting part here is there are numerous benefits of using the technology; it solely depends on how you end up leveraging the power of such technology and make the most of it. Time to seize the opportunity!
Advantages of Using Chatbots – From a Business Perspective
Once sounded like a futuristic notion, today the tech seems to be making a huge name in the mainstream field. Let us explore how?
#1 Increase lead generation
Businesses prefer the omnichannel model; i.e. selling across the website, Facebook and other channels. By using AI chatbots, everything becomes seamless between customers and businesses. A personal messaging conversation can be conducted right from the start by guiding the right product to the last checkout. Chatbots can also be used to make relevant recommendations and suggestions based on their history of purchases.
In addition to this, bots can expand leads by posing the correct inquiry and direct them to the outreach group for guaranteed deals change. Just from that point forward, all the certified leads are sustained dependent on their client venture. For example, eCommerce business, chatbot connects with clients by giving customized suggestions, combo offers, or markdown coupons to improve online deals transformations.
This might sound tricky at first! Looking at today’s fiercely competitive landscape, businesses do require a robust customer service department that keeps on rising. Implementing powerful chatbots permits organizations to deal with a gigantic measure of client inquiries in brief periods.
Chatbots assist organizations with streamlining their expenses without bargaining their client care quality. Chatbots can:
- Automate everyday business measure and empower the client service group to focus on more mind-boggling questions
- Systematically scale their chat support during top hours to convey quality help and upgrade consumer loyalty
- Empower various new client assistance models to help increment brand face worth and credibility.
#3 Gain insights into customer behaviour
Another colossal benefit of chatbots for organizations is the understanding they can give into client conduct. For example, based on the inquiries or issues that are faced by your end clients, one can enhance their content strategy in no time. You can dissect what precisely moves your clients and what issues they face. This empowers you to make content that gives the correct answers.
Whether you like it or not but these insights are quite useful. I am talking in regards to the product portfolio. For instance, one can identify popular products and place them more prominently in their store. It is additionally conceivable that your clients will request items that you don’t have in your item portfolio yet. For this situation, you can add the items to your assortment.
#4 Can be used in a variety of industry verticals
Applications are many but still, Ai chatbots do hold a solid grip in regards to usage among different industry verticals such as
- Energy industry – Several companies like Wienenergie make use of this chatbot named BotTina to answer customer questions regarding registration, deregistration, or any change in registration as well as questions about invoices or tariffs as well as for meter reading.
- Tourism – In Tourism Chatbots are way popular. Have you heard about The Tauern Spa? They use their bots to answer questions regarding bookings. The region Serfaus-Fiss-Ladis offers its visitors further information on how to get there or the current weather conditions.
- Finance – The Hypo Tirol Bank is a place where customers can ask chatbot questions regarding online banking. Users can get information about topics such as card loss, account openings and the different branches.
- Education – On the website of the University of Vienna students can clarify their questions about their student ID (u:card).
- Real Estate – The bot of Hanse-Haus answers users’ questions about its pre-built houses and helps to arrange consultation appointments.
- eCommerce – Another important industry for chatbots is e-commerce. For example, users of the Netto online shop can ask questions about the products via a chatbot.
#5 Monitoring Consumer Data
Like I have said before chatbots act as a great tool to communicate with end customers. With suitable input they gather proper criticism and gather basic inquiries, you can make enhancements for your administrations/items and even optimize your site by changing low converting pages.
Chatbots can be likewise used to follow purchasing models and buyer rehearses by checking customer data. Moreover, associations can follow the orders and responses given by their customers to the chatbot, foresee the responses reliant on customer language and direct the bot to suggest a substitute or a more accommodating thing or organization to the customers just as prompting arrangements and promoting divisions for altered services.
Some of the interesting AI Chatbots Trends to Consider
A human-like touch
Another interesting stats shows that the overall market size for chatbots would grow over $1.3 billion by the year 2024. Earlier companies had this wrong notion about chatbots misinterpreting since they can’t comprehend the real purpose of the client or by one way or another they end up noting any specialized orders made by end clients. Also, more significant, they are as yet not fit for getting complements or social lingo to comprehend the correct plan.
With Chatbots one can convey customized and custom-made client experience to construct better client connections. Likewise, it improves the client experience with your image and lifts client dependability. On and all, emphatically influence the client’s insight to get positive criticism and construct a fulfilled client base.
Payments can be automated
Right from interacting with customers to managing campaigns for lead generation, and automate payments, chatbots have served a long way. In the end, it is assumed that businesses will automate simple payments where users can pay directly over live chat or Facebook Messenger apps. The instant process makes the customer happy, improves customer satisfaction and reduces customer retention.
Have you ever noticed Facebook Messenger Payments?
#1 Customers can buy from the messenger – Your end customers do not have to leave their app to make the final payment.
#2 Trust – Facebook’s messenger is way safer so there won’t be any issues with credit and debit card.
#3 Scalability – Another advantage of using a chatbot, retailers can sell products directly with the help of the bot.
Apart from handling customer requests, chatbots have the potential to deliver incredible business value. All the internal workflows are streamlined from small businesses to large enterprises.
Now how is that possible? You may ask!
- Human Resource (HR) – One of the crucial advantages of using AI chatbots is it helps HR managers to keep the pulse of their employees. Right from all the basic HR-related questions to transactional areas, everything gets covered by the chatbot.
- Employees Onboarding – No matter how exciting it sounds, onboarding can be an extremely tricky, tedious, and time-consuming task. Fortunately, we have chatbots where the interview procedure can be initiated and all the relevant answers can be captured.
- Internal help desk – All the common queries can be easily handled by the technology. The bot automatically learns the answers to repetitive queries and ends up improving the response time.
That’s it! You need to understand your customer is willing to have a word with your business. Try offering them things without much hassle! Try making their experience worthy to deal with their greatest pain points and help them improve their products and services in no time. I hope in this break-neck era, you can carve your way towards success.