December 28, 2018 Last updated December 26th, 2018 102 Reads share

5 Reasons Why You Should Consider a Chatbot for Your Business

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Chatbots are the future of customer service. They are conversation-enabled software programs that interact with consumers through live chat interfaces. They take people’s queries and complaints and offer relevant answers also they solve routine problems and make appropriate suggestions for smoother transactions.

Chatbots are expensive no doubt But

If you own a business that’s growing steadily, you might want to take stock of your customer service capability. Would it be wise to invest in a chatbot or should you continue with traditional human customer support? Chatbots are expensive no doubt. But given the cut-throat competition, shying away from an upgrade might cost you in the long run. In the following paragraphs, we will help you identify where your business stands on the automation trajectory, and understand whether or not you need a chatbot.

The Top 5 Reasons for Considering a Chatbot:

 

  1. If you already have a customer care unit with multiple employees

This is a clear sign that your customer base is increasing and you have more customers to serve on a daily basis. While you might be managing fine just yet, in future it might lead to longer queues and call wait times, resulting in dissatisfied customers. Plus, executives tire out towards the fag end of their shifts causing a drop in customer engagement and call quality standards. Chatbots, on the other hand, are computer applications that never experience fatigue and have the ability to handle tens of thousands of queries simultaneously.

  1. If you offer 24x7x365 customer service

A Mckinsey report states that 75% of online customers expect assistance within 5 minutes. As a chatbot does not have any working hours, never falls sick and never goes on leave, you can serve your customers round the clock throughout the year. Consumers can call in anytime and have their issues resolved instantaneously. This will go a long way in building a strong relationship with your stakeholders. This is very critical in the banking industry where the need for AI-based customer support assistant is rapidly growing.

  1. If you are into e-commerce

A survey shows that 83% online buyers are more likely to complete a purchase if they have a virtual chat assistant walking them through the ordering process. Therefore, if you are into buying and selling goods online, getting yourself an AI-driven chatbot to serve customers and suppliers could be a worthwhile investment.

  1. If your customer care wing is handling routine questions

A new survey shows that customer service call centers spend about 60% of their time answering simple questions that can easily be handled by an AI-powered chatbot. If your customer support team is doing the same, maybe it’s time to get a chatbot. It will save you a lot of man hours which can be utilized to do more complex tasks that warrant human intelligence.

  1. If you want to expand your business

If you have plans of expanding your business in the future, investing in an AI conversational app might be a shrewd decision. It will support far more customers in far less time. It can offer accurate solutions to simple day-to-day issues and It can also prevent small problems from getting out of hand and keep your business running smoothly.

You can also read: How can Small Businesses create a positive customer experience 24/7

 why your business needs a chatbot

 To scale up your operations

Chatbots do not suffer from the limitations of a human agent. Where live agents can handle only 2 to 3 conversations at a time, chatbots can operate without an upper limit. By employing chatbot solutions to complement your human task force, your business can get the boost it needs to enter new markets.

2. You get a lot of queries from your customers

If your business receives a lot of inquiries, chatbots can take the load off your customer support team. By acting as the first point of contact, chatbots can screen calls from customers and redirect them to human agents only when required.

3. You have a range of nearly identical products or services

If you are selling goods and services which are near substitutes for each other, your customers may need help in selecting the right product. Customers also seek advice when buying something expensive, such as smartphones, camera accessories, etc. Chatbots can assist customers in getting the right product or service.

4. You are selling to the millennials

Millennials are not impulsive buyers. They like to inquire and compare products before they buy. Also, millennials prefer live chat over phone calls. So, if your product lines are aimed at Millennials, introducing chatbots in your customer service will be a prudent investment.

5. You are actively marketing content through online channels

The more you interact with your customers, the more business you get from them. If you are using online channels to communicate with your customers, then chatbots can be useful in simplifying certain tasks for you.

6. You are looking for an interactive marketing platform

Unlike apps and websites, chatbots do not present a passive user experience. You can use chatbots for a highly interactive marketing campaign. And the availability of chatbots on platforms like Facebook Messenger means you can reach out to more people at once.

7. You need to drive up organizational efficiency

If you are burning too many resources in backend support, chatbots can be your way out. Instead of employing more people for mundane and repetitive tasks, install a chatbot business solution and automate everything.

How Small and Medium-sized Businesses are using Chatbots?

There are many ways in which business owners are using chatbots to enhance the customer experience

Using chatbots for specialized tasks

There are several tasks which chatbots can do quickly and more efficiently than their human counterparts. Tasks such as checking the weather, ordering a pizza or hiring cabs can be done more efficiently with chatbots. In a similar vein, businesses can use chatbots to automate tasks such as inventory ordering and management.

Better service on smartphones and tablets

The world is moving towards a mobile future. Today, mobile phone users far outnumber the laptop and PC users. Use of chatbots in mobile apps has helped in creating more streamlined app interfaces. The user can browse, compare, buy and get support from a single interface.

Enhance your social presence by resolving social issues

The best example of this the chatbot DoNotPay which saved not only different users from fines amounting to $160,000 but also helped homeless people apply for housing. It is now turning to help the refugees claim asylum. Besides DoNotPay, there are other bots like U-Report, GYANT, Yeshi, etc., are making sure that they bring about a change in society.

Chatbots are only going to get smarter with time, allowing diversified usage of this technology. They can become the first point of contact between customers, providing instant assistance, buying advice, and resolving common issues. It is safe to say that chatbot technology is the next big thing in customer service and e-commerce industry.

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Mano Ramakrishnan

Mano Ramakrishnan

I am a Research Analyst in SuggestNext, a software discovery platform. I am an avid blogger who blogs about Enterprise Technology, Marketing, Artificial Intelligence and AI Sales Assistant.

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