09 Apr benefits of using an ai powered chatbot
The market is promising now for enterprise chatbot development; no matter what business you are in, artificial intelligence enabled chatbots can drastically impact the customer satisfaction and conversion rates for your business. Business Insider states that over 80% businesses already use enterprise intelligent chatbots solution, or plan to use them by 2020. The market is promising now for chatbots. In a nutshell, from a broad perspective, benefits of chatbots are nothing but, 1. Scalability, 2. Comprise a broad eco-system of uses, 3. Nominal set-up cost for an impressive ROI.
Successful businesses take advantage of Chatbots because it allows businesses to monetize on Facebook Messenger and similar chat, text, visual and voice platforms. Global Web Index Statistics states that 75% of internet users are adopting one or more messenger platforms. With over 65 million businesses using Facebook, chatbots still lead the game when it comes to sales opportunities, marketing, customer engagement, and better agent morale.
Benefits of chatbots in business:
- Round the clock accessibility: We all have faced the troubles of holding our telephone lines to get connected to a call center agent, such cases are not rare when we call up a call center for an emergency and must wait for a long time. On an average people spend 7 minutes to get assigned to an agent. Chatbots are accessible to the customer anytime they wish and eliminates long waiting time. A live chat agent could be attending to other customers and will most likely place your valuable customer on hold. This is where AI chatbots have an advantage. Chatbots can handle numerous conversations with minimum wait time compared to a human agent.
- Customizable: Flexible attributes of Nuvento chatbots makes it suitable for any industry. It synergises workflows between various business functions be it sales/marketing to customer support. Ultimately customer gains the benefit of getting their query/concern answered quickly, and in the background chatbots converses tactically with business functions as well. Cross-selling happens based on customer requirements, and all these at a faster pace compared to a human agent interaction. Better team collaboration using chatbots reflects on how nicely you engage with the customer.
- Better demand supply ratio: AI chatbots are particularly beneficial to businesses where demand is high and you have limited manpower to handle the rising demand. In a call centre scenario when the human agent is unable to handle huge call volume, chatbots come to your rescue. Chatbots have a winning edge in improving the (CPS) call per second ratio which is directly proportional to your business revenue.
- Clever customer handling and delight: Human agents are driven by emotions; most of the times they are unable to handle an irate customer, and this has a negative impact on customer satisfaction scores and agent morale. Chatbots are programmed to obey the prescribed rules and handle customer emotions in a better way thereby improving customer satisfaction.
- Higher profitability/cost-effectiveness: Hiring a human agent is never an easy and cheap task. It will turn out to be a very expensive affair when your revenues are not high or sales targets are not met. This mis-match between hiring cost and revenue outcome can create chaos in any business. One single chatbot is equal to a bunch of agents and it can simultaneously handle numerous customers. This would curtail your operational cost which would in turn result in steep rise in revenue and customer satisfaction.
- Efficient Onboarding: AI chatbots can ensure faster on-boarding by educating the new-joiners; continuous knowledge upgradation is the key to developing a strong and productive workforce. This is accomplished efficiently using AI chatbots which gather knowledge data and disseminates valid information to the user without any breaks in the process.
Automated operations: Repetitive tasks are non-productive, however chatbots can automate numerous such tasks. This improves productivity , reduces cost and time. - Additional sales channel: Chatbots precisely understand customer requirements since they collect data from customers past purchase patterns. This makes AI chatbots a preferred platform for creating additional sales. Also, chatbots record customer query/responses and tailor their responses accordingly.
- Virtual Assistant: Nuvento’s chatbot development services help customers by posing as a fashion advisor/finance advisor and what not. This enables customised shopping experiences because chatbots remember customer choices the next time you visit it.
The future of chatbots seems very promising, lately AI chatbots are making their way into other domains too such as Industrial IoT. The underlying promise of chatbots is that you can find anything easily without browsing the web or opening multiple apps.
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