Top 7 Ways ChatBot Can Transform Your Business

Artificial Intelligence (AI) is expected to become a significant revenue stream for the consumer experience within the next couple of years, according to Gartner. Approximately 47% of organizations will use customer care chatbots and 40% will deploy virtual assistants.

As on-demand messaging has grown in popularity, customer contact preferences have changed. Chatbots are increasingly being integrated into the workflows of companies. Bots play an important role in improving the customer experience and providing excellent customer service. The use of chatbots has revolutionized the way in which businesses communicate with their customers.

It is evident from the stats that chatbots are a popular technology. If you have not yet integrated them into your business, now is the time to do so.

The following are some of the benefits your business can gain from chatbots:

1. Increase productivity and workflow

A customer service representative who answers repetitive questions all day long will quickly lose motivation. Wouldn’t it be nice if these uninspiring tasks could be automated? ChatBot does just that. Let your team focus on interesting cases.

2. Cost savings

In order to meet the growing demand for customer service, companies can roll out more capable bots that can handle more and more complex queries. There will be an initial investment cost associated with the implementation of chatbots. However, in the long run, this cost can be lower when compared to a customer service representative’s salary, training costs, etc.

3. 24/7 availability

As a result of their 24/7 availability and fast response rate, bots can also boost sales. The majority of customers dislike waiting, and long “on-hold times” may result in them losing interest in the purchase. By providing instant responses, chatbots ensure that the customer is constantly engaged and interacted with throughout their customer journey.

4. Easily generate and qualify leads

With the use of conversational chatbots, you will be able to engage your customers in a proactive manner. The chatbot can communicate with potential leads in real time and automatically add new contacts to your CRM system.

5. Personalization

With the use of conversational AI capabilities, chatbots can store and leverage your previous interactions with them to provide you with a more personalized experience. In customer service, for instance, they could remember the customer’s name and their ticket number. This means the chatbots will be able to instantly draw up the background information of the user to resolve their issues quicker.

6. Programmability

It is possible to program chatbots to perform a variety of tasks, since they function according to predetermined codes. Among other things, chatbots are able to facilitate meetings, provide advanced search capabilities, answer specific questions, and more. As long as their command catalog is continuously updated by programmers, their programming capability is defined as multi-functionality.

7. Scalability

One operator can respond to one question at a time and concentrate on one customer at a time. Chatbots, on the other hand, are capable of answering thousands of questions simultaneously. Cloud computing, the internet, and Artificial Intelligence have enabled chatbots to scale easily and respond to a large number of inquiries.

It is becoming increasingly evident that chatbot is rapidly becoming a core technology that is organically incorporated into all areas of business to solve complex problems and to increase an organization’s effectiveness and scalability. Want to find out how Chatbots can benefit you business? Reach us for a quick consultation. Click here