What are Benefits of Chatbots for Your Business

First, what is Chatbot?
A chatbot is a program or service that can have a conversation with you just like a real person based on Machine Learning and Artificial Intelligence (AI) to gather conversational cadences that allow them to understand human conversations and react to written or spoken requests to deliver a service.
So, what are the main benefits of chatbots, how they can help you easily grow your business and reduce your business costs.

1. Improve Customer Service

a. Real Time Extensive Customer Assistance

Your customers may require help trying to understand which products fit their needs/budgets any time of the day. Moreover, shoppers may not find what they are looking for due to navigation issues when they are on your site, they may have registration, payment, checkout and delivery questions or there may be a lack of information about a product.
In all these situations, chatbots can provide assistance real-time like a sales person in a real store. Moreover, chatbots can offer an interactive communication where they also ask questions to understand the real problem. Furthermore, along with text and voice, they can present customers rich content with product pages, images, blog entries, tutorial videos based on their responses that can help them through their journey.

b. Always-Available Customer Support

Chatbot is ready for help your customers 24/7. Bots can be programmed to give automated answers to repetitive questions immediately and forward the request to a real person when a more complicated action is needed. This enables human customer service representatives to save time and assist more important cases rather than time consuming simple tasks.
Additionally, with the help of chatbots, organizations can handle more tasks at the same time so that no customer has to wait. This will allow companies to scale up their operations to new markets globally without multiplying incoming requests to be handled.

2. Increased Customer Engagement

It’s important to keep your customers engaged with your brand. A conventional customer service interface usually provides more information than it receives from the users. However, Chatbots, in contrast, give only a slice of information at a time and can lead the interaction based on the input the user provides at each specific time. Therefore Chatbots don’t bore customers with irrelevant and unnecessary information and keep your customers on your platform longer and keep the content flowing by maintaining the conversation.

3. Monitoring Consumer Data & Gaining Insights

Chatbots are great tools to collect customers feedback through simple questions, you can make improvements on your services/products and even optimize your website by adjusting low converting pages. For example, if your landing page generates a good amount of organic traffic but doesn’t convert well, your chatbot can reach out to customers visiting this page with a survey to collect more information on why they are leaving the page without purchasing etc.
Chatbots can be also used to track purchasing patterns and consumer behaviors by monitoring user data.

4. Easier Approach to Global Markets

Whether you are already an international brand with customers all over the world, or a local brand who is ready for global business, chatbots can solve your customer care problems in multiple languages and 24/7, 365 days a year. This allows your business to scale up its operations to new markets without having to worry about multiplying incoming requests to be handled.

5. Cost Savings

First of all, implementing a full functioning chatbot, is much cheaper and faster than creating a cross platform app or hiring employees for each task.
Since chatbots are automated solutions, they allow organizations to handle many customers at once, and simultaneously. By “employing” chatbots that complements human agents, you will not only save on employee costs but you will also avoid the problems caused by human errors
Lastly, because customers can easily access chatbots within seconds and start interaction immediately, user acquisition is also associated with lower cost.
As we can see, Chatbots can be a great back up for employees for relatively basic and repetitive tasks with great speed, cost-effective, easy to implement, maintain and use. The biggest challenge you need to pay attention the most is, the conversation capability or “personality” of your chatbot in order to increase or even just retain your brand perception and customers.