Today, companies adopt customer service Chatbot Platforms primarily as a cost-effective measure.
This thought-process, in turn, dictates the business models that the vendors then adapt to make their product offerings attractive to their clients. Modern brands optimize their chatbots by using them as complementary tools in lieu of permanently substituting the human element.
With the simpler queries out of the way, the agents-in-person are free to answer the more complex questions.
In a globalized business environment, someone somewhere is always in need of support.
Even within the local geography, customers might require help at odd hours. In such a scenario, 24X7 service becomes an indispensable aspect of any operational strategy.
Chatbots eliminate the need for human intervention to help clients at inconvenient hours. By resolving pain-points anytime anywhere, they substantially reduce consumer stress and anxiety.
This, in turn, spurs brand loyalty and creates a repeat revenue-stream for any enterprise.
In the day and age of social media, there is a new term that has replaced the phrase “spread like wildfire”. It’s called – going viral.
A healthy brand perception travels fast. A negative one travels faster.
Every time a chatbot assuages a consumer issue, it helps to build positive brand perception.
By successfully catering to a large cross-section of customers simultaneously and swiftly, they help to generate an enviable magnitude of brand equity within a very short period.
Brand equity is the holy grail of intangible assets that all organizations seek to build. What is conceived as a positive brand perception is often reflected in rising share prices.
According to HubSpot, as many as 55 percent of consumers surveyed favored interacting with an automated app when resolving business issues.
Chatbots routinely answer as much as 80 percent of standard or simple FAQs satisfactorily.
The German company Tec InStore is a prime case-study for bots, covered across B-Schools exploring customer service.
By implementing automated AI bots, the organization was able to drastically reduce the in-flow of traffic to their manned support centers – by as much as 50 percent!
At the end of the day, every facet of every activity carried out by any profit-making organization is designed to achieve a singular objective – generate revenue.
Implementing chatbots in business operations is no exception to this rule.
A curious lead is a potential customer. An ambitious enterprise will always interpret genuine intrigue as an opportunity to impress and convert.
When a visitor to your portal or site has a query, it betrays interest. It is then up to the company to navigate said enquirer through the attributes of their product while simultaneously addressing specific requirements.
At the opportune moment, an acquisition pitch is made following which a potential consumer is hopefully converted into a paying one.
With every passing day, chatbots are becoming an indispensable feature of business operations worldwide.
They enjoy widespread applications across a plethora of industries. With technological innovation surging at an unprecedented pace, automated bots promise to become even more exciting in the coming years.