AI chatbots can enable a seamless connection between businesses and their customers at any hour of the day, at very cost-effective price.
AI chatbots as virtual agents have a significant advantage over human agents: they never rest and take a break. Though there is no mettle between machines and humans. But this feature of bots can be a big determinant in enabling 24*7*365 customer support.
The all-time availability of chatbots can be a great help when you are eyeing on the international markets. You can train the bot to answer the repeated queries of the users and forward the complex queries to the human agents for assistance. This way, you can fulfill the needs of day-to-day operations at a cost-effective price.
Moreover, be it internal or external communication, the role of conversation in business is inevitable. But, many organizations are still practicing traditional tools to communicate with their employees and clients. Undoubtedly, it results in delayed communication.
Recently, Gartner published a survey: Customer experience is the new battlefield, it mentions how businesses that provide active and real-time assistance to their customers are winning more prospects. And, how AI chatbots are helping them by filling the void created by the traditional tools of customer engagement.
Also, unlike human agents that can connect and assist one customer at a time. And, in case of live chat agents 4–6 customers at a time. AI-enabled chatbots allow you to expand operations without letting a single customer wait in a queue. Means, you can scale up to global markets without utilizing multiple resources.
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AI chatbots are the new talk of the town. Their main application in the business cycle is to automate the monotonous queries that occupy most of the workforce and resources. The wider use of AI chatbots can be seen in the field of data analytics, marketing, and sales. They can gather information about each website visitor and make it accessible in real-time.
Though, there are endless benefits of chatbots in the business as per the domain. But, keeping the focus on the prime ones can help you to understand what makes them an exceptional business companion.
Undoubtedly, at present, almost every business has marked its presence in the digital world. So, they can capture the attention of people available in the digital space and connect with genuine buyers.
90% of the businesses are still relying upon traditional tools of customer engagement. Which makes it unmanageable for the users to establish a quick connection and move forward to the buying journey.
However, in today’s conversational world, it has become essential for businesses to connect with each website visitors as they ask. This can help build a strong relationship with the prospects and enhance the user experience as well.That's why AI chatbots and Live chat agents (in case of few clients) can be a great way to let people know that a business is there to assist them
As when you assist a user in real-time, it motivates them and increases the chances of turning them into the customer. Plus, with this nex-gen tech, you can enhance the value of your business at a very low cost.
Businesses that lack innovation are more likely to fail. That’s because customers like to connect with organizations that follow best practices while delivering the same value. The new trends in customer support, marketing and sales indicate that enterprises that are implementing AI chatbots are comparatively doing better than the ones who haven’t.
And, there are certain reasons behind this. Because with automation, it gets easier to handle most of the repeated business processes and free up the resources for better utilization. This eventually enhances the productivity of the employees and make it easier for them to tackle the complex queries of the customers.
Not every web page gets the same traffic. Thus, it gets important for businesses to understand what pages are drawing more users and how to leverage such pages to gain user's attention and generate more revenue.
Customer centricity depends on how brands can get themselves heard today.
A high engagement rate doesn’t imply that a business will surely generate higher revenue. Rather the conversion rate decides the fate of the business revenue.
Such as, pages like products, services, prices, customer support, are more likely to get 70% of the total traffic that falls on the website. And this is the reason that a conversational chatbot on these pages can help you to get better engagement and conversion rates.
Appropriate utilization of business resources is the most important aspect in generating more revenue.
By implementing AI chatbot, on such pages, you can take a step further and connect with the landing visitors by simply saying “Hi, let me help you”. This single message can encourage genuine buyers to ask their queries.
While conversing with the prospects, you can get their user details. And, can even verify the user credentials via OTP in real-time, and share the information with the sales team as well.
This way you can reduce the time of acquiring customers, enhance the user experience, and generate more revenue efficiently. Deploying the Frontman on these pages can simplify the conversion path for the user who wants to talk to some virtual guide spot on and get the desired information instantly. So web pages with high traffic allow you to test and tweak your chatbot, revise strategies and deliver the most ROI.
Unsubscriptions disrupt the revenue cycle and extend the wider losses as well.
Gaining subscription is quite a laborious job. But, some times people unsubscribe your services, without telling anything. It confuses the businesses while understanding the reason behind it.
To understand the reason behind unsubscription, many businesses make use of forms. But, do you know only 10–15% of people like to fill them? Plus, forms might get you the reason, but still, will you be able to regain the same users?
AI chatbots enable real-time two-way communication with the users which eventually makes it effortless for them to continue the conversation.
So, to reduce the rate of unsubscription, it’s important to address people as they move forward to the “Unsubscribe me” button or page.
By deploying a chatbot on the same page, or you can call the chatbot as users will click on the “Unsubscribe button”. The bot will then start a quick conversation with the users, and convince them by providing real-time resolution of their problem.
Still, if a user unsubscribes, then you can follow-up and get the reason behind in a conversational way. And, when compared to traditional tools, such as forms. AI chatbots can get the submission rate of more than 60%.
This data can be utilized to understand the exact reason behind unsubscription. So, businesses can act in the right direction at the right time. Hence, chatbots prove to be more effective in establishing a connection with valuable clients.
In today’s data-centric world, analytics is the new business money
Are you able to collect the user data in real-time? With traditional tools, that’s highly unlikely. But, when you deploy AI chatbot, the scenario changes in real-time. A bot can capture users' analytics while talking to them, and in case if it has already had a conversation with a user. Then it’ll retrieve the previous interaction and use it to tailor the ongoing conversation.
Business establishment highly relies on market research. And, without the right analytics, a business could get blind. Unquestionably, it's an extreme task to get the right information that will help you understand the pattern of buyers, their preferences, and current market trends.
Plus, in terms of business, it can be a driving factor to get the analytics in real-time. Because, with this, a business can anticipate the growth and fall in sales, and act accordingly.
Moreover, AI chatbots can store plenty of information about the users like, what they like, dislike, offers they prefer, and how to keep on the conversation based on their previous interaction.
It’s one of the main aspects of categorizing the users, and businesses often struggle to get and manage it in the right order. AI bots can be a great help here, they can fetch and save the GPS based location of the users. This can be used to target a specific audience and run geographic-based campaigns.
Knowing your customers is considered as the prime challenge in the business domain. But, no more. Now, with chatbots, you can collect the KYC documents of the users, and send them to the concerned team in real-time.
In general, what differentiates a prospect from a visitor? Well, prospects are more likely to compare a product with another and check whether the prices of a particular one are down yet or not. AI chatbots can save users first seen, how many times a user has visited the website and particular product, had a conversation regarding a product, and last seen.
This information can be used to connect with the ready to buy customers by tweaking the conversational flow as per their interest.
The problem with online shopping- a customer has to do it all alone. There is one more thing that sets apart online shopping from the traditional one, and that’s customers often have queries regarding products/services that go unanswered.
With AI chatbots, you can help them at any hour of the day, and make shopping easier for them. Plus, chatbots can help them compare products, while also learning about user preferences, and recommend products based on what they prefer and like.
Not only this, you can expand the business outreach to the global markets. As with traditional tools of customer engagement, you have to invest a lot of resources to connect with buyers from different regions and timezones.
However, with the 24*7 availability of chatbots, you can easily tackle the customer care queries and scale up the operations in the new markets.
Cross-platform applications and human agents cost too much when compared with the readymade AI chatbots that are cheaper and much easy to deploy and use.
A single bot can take on a lot of monotonous tasks, this can help organizations to cut extraneous costs. While at the same time, bots are a great companion of humans. By tackling the repeated tasks they can make it easier for customers to get their complex queries addressed by human agents, without waiting for several days.
It has been seen that with the automation of repeated queries, the chances of human errors also declines.
Apart from these, what makes AI chatbots cost-efficient is that they are easy to approach. This eventually makes it more accessible for the customers to connect at any time and inquire about a product or service.
Hence, when it becomes straightforward for a user to get in touch with the business. It also increases the chances of acquiring such customers, that too at a very cost-effective price.
However, AI chatbots are the face of your business, so you should pay attention while training them. As any deception in the conversation can degrade the user experience and reverse the benefits of AI chatbots.
Also, the character of the chatbot will develop the public perception of your business. Therefore, it’s recommended that while creating a chatbot's conversational flow, you should focus on making it perfect according to chatbot's personality, while considering how it should tackle the queries that are out of its domain.
Keeping in mind, AI chatbots have endless benefits. But, to conclude all the above advantages, in short, it can be said that you can enhance customer interaction with the business at any hour of the day. Which will eventually result in boosting sales, connecting with new customers, and heightening customer satisfaction along.
Including this, you can get real-time analytics, optimize the digital marketing campaigns, manage resources in a better way, and make good use of high traffic web pages. You can get all these benefits while saving big on operations, and expanding the customer support services to the global audience irrespective of the timezone and location.