Chatbots will cover over 85% of customer service. Does your business need one?

Chatbots have become an essential part of almost every business. When they first gained prominence, people were concerned about their impact. Today, the scenario is different, with many businesses opting to use them to gain a competitive edge and progress in their industry of choice. According to a survey conducted by Drift, chatbots saw a 92% increase in use since 2019, making it the brand communication channel with the largest growth. Chatbots not only improve your interactions with users, but also help build accountability. If you haven’t incorporated this technology yet, now is the time to do so. Below are six reasons why:

1. Helps you build trust among your customers

According to a Facebook survey, more than 50% of customers say they’re more likely to shop with a business that they can connect with via chat. When customers have queries regarding the products or services that you offer, they ask questions and expect immediate replies. However, it can oftentimes be difficult for human beings to perform this role 24/7. This is where chatbots come in handy and provide answers to questions around the clock. This will eventually help you build trust among customers and potential customers.

2. Improves interactions with users

Like human agents, chatbots can keep customers engaged on a specific platform by maintaining a conversation with them. When a user opens a webpage, he/she is greeted by the chatbot, which can answer specific queries about a product or service. With each question, the bot also provides a list of options making it easy for the user to type in the next query and increase user engagement. Emirates is among the many businesses that have reported an 87% increase in their engagement rates after deploying chatbots.

3. Less time-consuming/cheaper than developing an app

If you’re planning on releasing an app for your products which customers can download on their phones, you might want to consider a chatbot instead. Apps are expensive and require a lot of time for development. Besides, a user may not be interested in downloading an extra app on his/her device. Unless you choose to create something truly out-of-the-box, the development time required to construct a fully functional smart chatbot is much less than developing an app and cheaper.

4. Helps you obtain important customer information

Chatbots collect customer information like names, professions and contact details to create customer profiles. They can also learn what customers ask for, their product preferences and more, thus keeping existing customers engaged with brands and products through push notifications. They can also provide customers with complete product details if needed, and suggest relevant content. According to a New DigitasLBi Research, more than one in three Americans are willing to make purchases via chatbots, thus emphasizing the effectiveness of this technology.

5. Cuts down on operational costs

Businesses are bombarded with some 265 billion customer support requests each year, costing them a whopping $1.3 trillion to service. These costs can be reduced with the help of AI chatbots. According to Chatbots Magazine, implementing virtual agents or chatbots can help businesses to save up to 30 percent.

It is predicted that by 2021-end, close to one in six global customer service interactions will be handled by AI with $4.5 billion being invested in chatbot technology. In this case, chatbots seem to be the best solution for not just increasing your customer base and cutting costs but also building a trustworthy brand and scaling up your business.

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