It’s hard to remember a time when Chatbots weren’t a hot topic in customer service and marketing strategy conversations. Their popularity has grown rapidly in recent years and an increased number of businesses are adopting them worldwide. And it’s no surprise. The technology provides a new way for companies to easily support customers, generate leads and improve customer experience.
With chat now being the preferred method of communication of consumers with businesses and Live Chat requiring human support, it’s no wonder businesses are incorporating Chatbots into their strategies. But what decision makers really want to know is: Is investing in a Chatbot worth it, and why?
Significant Cost Savings
Implementing an AI powered Chatbot enables a business to accomplish tasks that would have otherwise required human resources. Why is this important? Successful businesses continuously look at ways they can cut costs without jeopardising service or quality. By automating simple tasks, Chatbots offer users instant support and enable multiple customer queries to be handled simultaneously. With reduced operational costs and lower labour expenses Chatbots currently account for savings of $20 million globally. According to analysis firm Juniper Research, this figure is expected to rise by more than $8 billion by 2022.
24/7 Customer Support
When a website visitor sees the instantly recognisable chat bubble at the bottom of their screen and chooses to engage with it, they expect an instant response. After all, why promote live chat if it’s not live? This can pose a problem for businesses lacking in resources to employ around the clock staff to respond to every chat.
This is where Chatbots come in. The technology automatically handles user queries as and when they come in, eliminating the need to hire additional agents to cover out of hours support.
Enhanced Employee Satisfaction
Let’s be honest, nobody likes doing the same basic work over and over again. Statistics show that repetitive jobs have much higher turnover rates than varied, more challenging responsibilities. And what employees are faced with on a Live Chat platform are repetitive scenarios, which a Chatbot can easily automate and is adept to handling. Implementing a Chatbot to take care of common queries empowers staff to become experts in handling more complex scenarios where the human touch is needed the most. Employees become more skilled through using their problem solving abilities rather than churning out scripted responses. This leads to happier and more motivated employees that are willing and able to give quality assistance to customers with challenging issues.
Revolutionised Customer Experience
“The first step in exceeding your customer’s expectations is to know those expectations.” – Roy H. Williams
AI permits businesses to solve customer queries through channels that are preferred by the customer and inexpensive for the company. With the growing popularity of Chatbots, users have become accustomed to them and appreciate their self-service nature. They no longer need to wait for an agent to become available or respond to each of their individual messages. Chatbots give customers frictionless support with less effort and can resolve issues instantly. A survey carried out by Pelorus Research found that 74% of contact centre managers felt that improved agent technology can significantly improve the customer experience. And we all know a positive customer experience makes way for more loyal customers.
Increased Leads & Revenue
Effectively developed Chatbots have the ability to close sales through robust marketing and optimised conversation flows.
By analysing customer data, they can predict user behaviour and push the appropriate notifications to the right people, every time. With this knowledge and ability, Chatbots can seamlessly guide customers through the buyer journey, addressing each query as it arises. They can offer expansive menus that present customers with options to encourage clicks and product discovery.
Based on interaction history and preferences, Chatbots can proactively alert customers to sales and discount opportunities likely to be relevant to them and as a result, increase upsells and revenue.
So there you have it, just some of the many benefits of implementing an AI-powered Chatbot into your business strategy. With technology moving faster than ever before, Chatbots appear to be conquering the world at tremendous speeds. It’s not surprising that a survey ran by Business Insider shows that 80% of businesses want Chatbots by 2020. In fact, researchers predict that 75-90% of queries will be dealt with by Chatbots within the next five years. Knowing this gives you time to ensure Chatbots are integrated into your business strategy for 2020.
To learn more about how you can benefit from implementing Chatbots into your business or marketing strategy, drop us a line. We’d love to help you!
For more reading check out our blog post on Voice Search Optimisation.