Conversational AI Chatbot Benefits for your Business

Customer Service Chatbots Top 5 Benefits

what are the typical benefits of chatbots for a business

It can automate day-to-day tasks that include everything from answering FAQs to booking appointments. This allows your customer support team to concentrate on more complex queries. Chatbots that use artificial intelligence, natural language processing (NLP), and machine learning understand a variety of keywords and phrases and learn from the visitor’s input. These bots get trained over time to understand more queries and different ways that customers phrase a question. Today, most businesses operate with an omnichannel model by selling across platforms, including their website, Facebook, etc. AI chatbots offer an effortless and straightforward way for customers to communicate with their business through various platforms such as Facebook Messenger and other social media channels.

  • Given all the real-time guidance they offer, chatbots can be the deciding factor in a customer’s purchase.
  • People need to sleep, which is why we’re not great at providing 24/7 customer support.
  • In its research on Chatbots, Juniper states that this technology will save financial services industry over $8 billion per year by 2022.
  • In fact, leads are 8x more likely to convert when businesses follow up within 5 minutes.

Chatbots help in automating tasks are to be executed often and at a specific time. Here is the truth – no one likes doing the same task over and over again. In the case of human beings, repetitive tasks are more prone to mistakes.

Boost your customer engagement with a WhatsApp chatbot!

And Gartner predicts that they’re going to be a primary customer service aid for 25% of organizations not long after that. When considering how a chatbot can be used to benefit your business, it’s important to understand the key features and benefits that an AI chatbot can offer. This means that customers can reach your business to get immediate answers to their questions over the chat app they prefer and in an environment they’re comfortable with. It costs very little to set up a chatbot and start experimenting (we even offer a 60-day free trial to get you started). Better still, this minimal upfront investment can be quickly offset by using your chatbot to help optimize the cost of running your contact center. If you are interested in learning more about how you can benefit from implementing chatbots into your business call us or drop a line.

  • Service departments have also employed chatbots to help service professionals in answering frequently asked inquiries.
  • There are numerous benefits to using chatbots, and it largely depends on how businesses and stakeholders can leverage them to enhance the customer’s experience.
  • They may receive generic answers, and there is a heightened risk of misunderstanding.

According to SiteMinder’s survey on “Why do Guests abandon their booking”, 13% of visitors dropped off the booking journey because they found the process to be overly complicated. Another problem needed to be addressed was the traditional booking process that asked for a ton of details from the visitor. According to SiteMinder’s survey, 10% of bookings were lost due to asking too many details. So we needed to make the booking process more efficient, less complicated, and engaging.

Offer convenient self-service options

For example, IBM says that chatbots are able to reduce customer service costs by up to 30% thanks to speeding up response time and automating the process. Interactive chatbots create personalized content and efficient storytelling. Several popular brands, from Call of Duty to Starbucks and National Geographic, have used “friendly” bots to engage with fans and build communities. For example, the National Geographic’s bot Genius (who looked like a little Albert Einstein) answered tough questions about physics and philosophy. Call of Duty used a range of bots–“male” and “female”, depending on the games’ settings, to make a personalized gaming quest with fans. As a result, such “friendly” chatbots have created personal stories and thus increased brand loyalty.

what are the typical benefits of chatbots for a business

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What impact will chatbot have?

Chat-based AI, when used properly, can improve human productivity by automating monotonous jobs and delivering more engaging interactions with consumers.