5 Reasons Why Your Business Should Use Chatbots
Chatbots are an interactive service that customers can engage with when a live chat agent is unavailable. It is usually powered by algorithms and rules and at times by artificial intelligence and machine learning. They can do anything from telling you how to get from one point to another and let you know which products on a site match your preferences.
At some point, you may have interacted with a chatbot whether on the web, on a messaging platform or on a website. You may have even asked chatbots to do things for you on your mobile phone. If you have, then you know how convenient they can be.
Consumers also think the same way. That is because chatbots are prompt in replying to questions. Plus, they do not need to install new applications on their devices to do so. As such, chatbots on messaging platforms are growing quicker than apps. What’s more, buyers also believe that chatbots are faster in giving relevant responses, providing around-the-clock assistance, and being convenient overall, according to an article by Chatbots Magazine.
More people find chatbots to be more convenient and abler than apps in certain aspects.
Apart from convenience, there are different methods of how chatbots help businesses. We discuss a few of these below and the benefits that go with them.
- Offer around-the-clock customer service
Chatbots are available 24/7 regardless of the channel, whether it is Facebook Messenger, an e-commerce site, or a website. Because of this, customers do not have to wait too long to receive answers to their questions. This is unlike the case of human customer support where only a few representatives are available and customers are queued. In this case, customers are likely to become frustrated and take their business elsewhere. However, with the help of chatbot software, you can offer your prospects consistent and always-available support. Thus, you can reduce the rate of customer attrition and create better chances of converting them rapidly.
2. Provide hyper-personalized assistance
Customer experience personalization goes beyond calling members of your target market by name. Buyers now expect brands to know their preferences and to send them relevant offers and promotions. This is according to the latest Personalization Pulse Check 2018 by Accenture.
When you know what your audience wants, you can provide personalized assistance. This can increase their interaction with your chatbot (and with your brand, of course). This paves the way to higher brand loyalty and greater customer retention.
Apart from that, you can personalize customers’ experiences by talking to them in their own language. Since numerous chatbots for business are equipped with the ability to understand and respond in different languages, your buyers do not have to struggle to make themselves understood. What’s more, an ultra-powerful chatbot can even carry on a conversation in multiple languages!
This can be a boon in case you want to take your business to the global stage or when you are already catering to customers from different corners of the world.
3. Advertise products and increase sales opportunities
If you have an e-commerce site, a chatbot online all the time can serve as your customers’ personal assistant and your sales booster. Customers are more likely to interact with them, too.
A study conducted by GlobalWebIndex shows that 70% of consumers choose to talk via text over talking on the phone. This lets you leverage chatbots because they can suggest items and guide shoppers around the website without being too invasive.
Furthermore, chatbots is an intelligent technology that can remember what customers say and tailor their future responses according to previous replies. Thus, they can upsell and cross-sell with ease to help you increase your sales, something that is easily seen in customer service in retail.
4. Cut down resource usage and handle more chats
The least amount of dollars spent on every hire by companies is $300 and the highest is $2,422 on average, as pointed out by Statista. That is a lot of money and not every business has the resources for that.
Fortunately, one of the benefits of chatbots for business is their cost-effectiveness. For example, you only have to pay $199 per month for a chatbot package that includes an intelligent chatbot builder manned by two agents. For a company that is just starting out or those that are tightening their belts, this can be an advantage. Not only do you get a tireless customer service representative, but you also get one that can handle numerous buyers simultaneously.
5. Collect more information about customers
Customer conversations carried on by chatbots are a verdant field of actionable information. They can record every consumer’s likes and dislikes as well as unique quirks. You can consolidate these insights to help you come up with better marketing strategies. They can be highly beneficial in sending personalized newsletters to every person on your email list. You can see the results in your customer engagement (74%), transaction (up to 6 times), and conversion rates (10%) as cited in an article by CampaignMonitor.
This goes to show that chatbots can deliver a lot of information that can drive your business success.
Jumping in the chatbots wagon
Chatbots are hotter than apps because they can be anywhere without requiring app or site visitors to download and install anything on their devices. They have also been growing at a steady rate, as businesses are realizing their myriad benefits. Customers themselves are also enjoying the use of chatbots so they can be a truly advantageous addition to your business tools.