How Can Chatbots Benefit Your Business?

January 2, 2019 | By | Chatbots, Live Chat
How Can Chatbots Benefit Your Business?

Every business owner at one point or the other faces the same set of challenges -which often include keeping customers engaged and improving customer service. Where do Chatbots fit into this? The AI-powered technology is helping businesses of all sizes overcome and address a number of common obstacles. As we’ve explained in our article, A beginner’s Guide to Chatbots, this intelligent service helps to keep customers engaged and increase conversions while ensuring that your business is attended to round the clock.

From E-commerce businesses to B2B startups, Chatbots are an ideal way to improve customer service, save time and money and process a large volume of queries at one time.

Here is a list of the benefits that Chatbots offer to Businesses:

24/7 Availability

One of the biggest advantages of implementing the Chatbot technology on your website is that Chatbots can operate and attend to customers 24 hours a day, 365 days a year.

Since they don’t get tired and need to take a break during the day or night, your business never goes ‘offline’ and customers’ queries are addressed immediately in real time. Undoubtedly, this improves customer satisfaction and loyalty.

Processing large volume of requests

Chatbots take multi-tasking to the next level by addressing several customer queries at one time without issues. This is especially useful during peak seasons when providing seamless customer interactions becomes vital to keep customers happy and avoid negative or hasty interactions.

Cut down operational costs

Once a Chatbot is implemented on a website, the costs involved to maintain and run the technology are relatively low. Also, the technology helps businesses to save money on overhead costs such as hiring a team of customer service representatives. Running and managing your own team of customer service agents would include the cost of recruitment, training, salaries and pensions. These costs are not one time and continue over the years as the team grows. In addition to ongoing salary costs, business owners also have to plan for maternity leaves or other paid leaves which add to the overall operational costs of the company. Chatbots help to eliminate these expenditures while providing ongoing service and ensuring that businesses can continue to function smoothly.

Analytics and Data collection

Chatbots help businesses to record trends, data and metrics which can be extremely beneficial in improving future processes and responses. Since they can track customer behaviours and buying patterns the bots can be directed to recommend particular products or services based on a customer’s language. This has a very positive impact on conversions in the long run.

Engage with global markets

Chatbots are not only equipped to deal with multiple customers at one time but can also be configured to engage with customers across the globe. Both, international brands and local brands servicing international customers can implement Chatbots to interact with customers in different languages.
This capability allows businesses to expand operations without the concern over how to manage customer service across new markets.

Save Time

Chatbots are a great way to save time for any business – they provide a quick and automated means to answer customer queries. This prevents customers from waiting until a company representative gets back to them thus reducing customer frustration. Ultimately, this makes it easier for a business to service more people more efficiently.

The truth is that while Chatbots are a great technology that are benefiting businesses across the board, they work best in conjunction with Live Chat which is customer service operated by human chat agents. A combination of the two technologies ensures that all customer queries are addressed –  if a particular question or concern is too complex for a chatbot it can be passed on to a human operator who can provide further assistance. At CommVersion, we provide a hybrid model of customer service which combines the efficiency of Chatbots and the human touch of Live Chat operators. This ensures that customers experience a seamless interaction which ultimately improves brand loyalty.

For more information on how this works, get in touch with us.

Shobhit Patil
Co-Founder & CMO at Commversion UK Ltd.

Read Shobhit's articles and profile.

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