Multiple studies have revealed that a large number of business professionals prefer to converse with a company via text rather than the phone call. Text communications have gained traction over the past few years because of their quick line of action and better response rate. Seeing this opportunity, many companies have integrated AI-powered chatbots in their business communications. This blog post provides key benefits of implementing chatbots in your business and how you can maximize these benefits.
How bad it would look if your customers have to wait longer than what is acceptable for a simple solution. The success of a business depends on the satisfaction levels of its customers. With the advancements in AI technologies and the proliferation of chatbots, it would be counterintuitive to not have a digital assistant. Digital assistants can be programmed to answer basic customer queries with 24×7 availability. Chatbots or digital assistants can increase sales, enhance customer retention, and improve your website’s performance. They prevent your customers from waiting for minutes or even hours for answers to their basic queries.
Several leading companies have reported growth in sales and customer retention rate after implementing chatbots in their business communications. Industries like e-commerce and online marketing have reported huge benefits of using chatbots in terms of customer engagement and sales.
Bots are also effective in upselling and downselling. For instance, when a customer makes a purchase, he/she is 33% more likely to buy again. Using this opportunity to upsell right after the purchase enables you to increase your future sales as well.
Numerous e-commerce businesses have been using chatbots as part of their website’s conversational UI. Amazon, eBay, Alibaba, etc. are some prominent examples. Amazon’s customer support chatbot is the outcome of its homegrown technology to provide solutions for trivial problems faced by Amazon customers. When human interaction is required, the bot transfers it to a live agent.
A common problem in e-commerce is that customers abandon their carts while shopping. Emails have been able to address the issue to some extent. Reminding customers about their pending purchase is a common practice. Chatbots can play a critical role in this regard, as they can come into action in real-time. They can improve sales as they have higher open and click rates.
Chatbots generate customer loyalty and enable you to establish healthy customer relations. Instant chat support makes customers feel important and valued.
Travel and tourism is another area where chatbots are proving efficient and time-saving. They act as virtual travel assistants for tourists. For example, chatbots can assist a person in booking tickets, building itineraries, and providing basic information about travel destinations. Leading travel companies like Snap Travel, Marriott, KLM are using chatbots to refine their customer experiences.
Like every other sector, banking and finance companies are also progressing rapidly with the new technology. Banks have identified several areas of improvement through AI. Chatbots enjoy a wide spectrum of applications like smart messaging, personalized tips, customer services, etc. Banks like Chase, Bank of America and ICICI bank in India are taking advantage of AI to enhance the customers’ experience.
We have a skilled team of professionals to achieve your AI-related business goals. We add value to your business by developing interactive chatbot applications tailored to your business requirements.
Chatbot development services are better with the latest AI technologies like natural language processing, predictive analysis, sentiment analysis, etc. Chatbots are trained using machine learning technologies, to provide the best experience to customers. The more rigorously trained a bot is, the more personalized responses it provides. Big data analytics and deep learning are the subsets of AI that enable chatbots to provide near perfect responses.
We provide AI-based solutions that cover all the aspects of a business. We have developed an AI toolkit to accelerate the development of chatbots and digital assistants. We strive to increase the value proposition of your business with our comprehensive AI development and integration services.
Still wondering how to start? Talk to us.