Running a successful business requires you to be as productive as possible so expenses are lower and profits are higher. This is an obvious, basic fact of doing business.
However, many business owners don’t use the tools needed to make this happen. One new tool that’s gaining popularity but is not adequately used by all businesses, is the chatbot.
Chatbots’ simulation of human language and behavior offers many benefits to brands, including:
1. Save Time
One of the primary benefits of using chatbots in your company is that they save time.
When you use chatbots on your website, they can deliver fast, automated answers to most queries. Using chatbots reduces the waiting time so that customers don’t have to wait a day to get responses.
This way, you can serve many customers while boosting productivity and reducing operating costs.
2. Save Money
Chatbots are cheaper than hiring many customer support agents to offer fast customer communication, because hiring more support agents means additional costs and time. The costs are in terms of:
By investing in chatbots, you can lower these costs.
According to reports, every year there are 265 billion customer requests and companies spend over $1.3 trillion to serve these requests. However, leveraging chatbots can help you save up to 30%. This is because chatbots speed up response times and can answer up to 80% of routine questions.
3. Offer 24/7 Automated Customer Support
No one likes waiting and neither do your customers. In fact, 91% of customers who are unhappy with a brand leave without complaining. Chatbots can help engage customers 24/7 with immediate answers to all the frequently asked questions. Offering excellent customer service round the clock will naturally have a positive impact on your customer satisfaction and retention.
4. Boost Customer Engagement
To build a successful, sustainable business, it’s essential to keep your customers engaged. Brands that successfully engage with their customers can increase the customer spend by 20% to 40%.
By leveraging chatbots, you can take your customer engagement to the next level. Chatbots improve customer satisfaction by delivering immediate one-on-one responses to your customers – exactly what customers want. By using this problem-solving approach, you’ll make your customers happy and satisfied.
Chatbots also offer real-time conversation. They are the fastest way to communicate with your customers, which saves time and money for both you and them.
5. Improve Team Productivity
In the near future, chatbots are predicted to handle 85% of customer service communications with no human interaction. Chatbots will play an integral role in the shift from human to automated customer services for every brand. While they can’t replace human agents completely, they empower you to offer primary support that filters a customer request before it’s directed to human agents.
To improve the productivity of your team, you need to automate your sales and customer service tasks.
Using chatbots, common queries can be answered immediately, allowing your customer support agents to focus on important tasks that need human involvement.
6. Improve Lead Generation, Qualification, and Nurturing
Using the information that chatbots receive, you can deliver personalized messages that assist customers along the “buyer’s journey.” This is because you can use a chatbot to ask relevant and necessary questions, persuade the visitor, and generate leads. Chatbots make sure there’s a seamless conversation flow, which generates higher conversions.
Apart from using chatbots to generate potential customers and notify the sales team, you can also use them to determine the unqualified leads through identified KPIs, such as relevancy, budget, timeline, and resources. This prevents you from dealing with time-consuming leads.
NOTE: I shall continue sharing basic information about chatbot features in the next few series. You may view live demo on how chatbot work by clicking ‘Can I help you‘ featuring myself as a chatbot at the bottom right corner of this page. This demo was created using ConversioBot. If you need more information, please email your enquiry to firstname.lastname@example.org