How are chatbots helpful in business?

 “Chatbots represent a new trend in how people access information, make decisions, and communicate.”

-        Christie Pitts, Verizon Ventures

Before you ask what the quotation is about, let me explain what chatbots are.

Chatbots are software applications that are available 24 hours a day, seven days a week for both customers and businesses, provide quick responses, and track customers' interests and preferences.

Picture credit: Pixabay

Listing down some of the usages of chatbots:

·       Availability:

It is not possible to have a live human available for customers all of the time. Even if they do, the business's operational costs will skyrocket. Chatbots come to the rescue in this situation. Chatbots can help engage customers whenever they visit your website, whether they want to enquire about something or have just dropped by and started scrolling through the content.

 

·       Ease of use:

To use chatbots in your business, you no longer necessarily need to know how to code. You can develop and use those chatbots using a simple visual editor based on your needs.

 

·       Interaction:

Chatbots can use information about the customers' interests in addition to providing customer support. They can help customers by advising them on their questions or recommending products or services that they may require.

 

·       Time management:

Chatbots assist in providing answers to repetitive questions in a matter of seconds. On the other hand, answering the same question for the 50th time can be extremely frustrating and time consuming for a normal human being.

 

·       Customer engagement:

The most important task is to engage customers with your company or brand. A chatbot can inform a random or repeat customer about, say, the latest product and its offers. Chatbots also aid in providing quick responses to customer inquiries, ensuring that they do not leave dissatisfied.

 

·       Cost effective:

The maintenance costs are reduced because you no longer need to hire a large number of support agents, provide them with the necessary training, and, on top of that, keep their morale high. This will help you save a significant amount of money on your expenses.

 

·       Reduction in errors:

Chatbots aid in the reduction of errors. We humans make mistakes, whether it's as simple as a typo or as serious as losing a deal. However, using chatbots will help to reduce such errors.

 

·       Hybrid work:

In your business, you can have a hybrid set of tasks: Chatbots can handle 90 percent of simple tasks, while support agents can handle the remaining 10 percent of complex tasks.

 

It makes no difference to customers about who is always available to them as long as their questions are answered promptly and their problems are resolved.

 

Here are some examples of companies that have implemented chatbots in their operations: H&M, Amazon, American Express, Microsoft, Google, and many more.

 

·       Integration:

You do not have to give up your current software tools. Chatbots can be easily integrated with tools such as CRM and social media platforms such as Facebook and WhatsApp.

 

·       Self-learning:

Chatbots can use AI technology to automatically learn about new situations and respond accordingly in this rapidly evolving technological environment.

Other usages:

Chatbots are now being used in the healthcare industry. They have a 'symptom checker' feature, which is useful in this covid-19 pandemic.

Chatbots are also being used in the education sector. It will assist students in learning about various courses, fee structures, taking quizzes/tests, providing various learning materials to students, and much more.

If AI-based chatbots are used in the telecom industry, they will aid in the prevention of fraudulent activities, answer customer questions, simplify payment mechanisms, increase sales volume, and so on. Furthermore, the banking industry has also begun to use AI-powered chatbots.

5 interesting chatbots that you can know about:

1.    Netomi:

This is an AI-powered chatbot that offers quick customer support, improves the customer experience, and is cost-effective. It also handles customer service tickets via message, phone, and email. It collaborates with major corporations such as HP and WB Games.

 

2.    Google Assistant:

This is a voice-based chatbot that gives services to customers by recognizing their voice. Anyone can use Google Assistant to search for anything and receive relevant results. It is incredibly simple and quick to use.

 

3.    WP-Chatbot:

WordPress chatbot is the name for it. The chat functionality can be used on any WordPress website. It also provides customers with immediate assistance. It works on any device and is compatible with any WordPress installation.

 

4.    eBay:

eBay is a shopping assistant that assists shoppers in locating eBay's most recent offers and products. It provides clients with a more customized buying experience. eBay makes use of shopbot, a beta version of a chatbot.

 

5.   Alexa:

Amazon's Alexa is also a voice-assistant. When you say "Alexa" to the device, it begins to work. Alexa can perform a variety of tasks, like setting alarms, ordering food, reading the news, and playing music. It uses its home automation system to operate a variety of other smart gadgets in your home.

 

Conclusion:

Chatbots, in my opinion, are excellent for assisting in business functions and removing friction. Deploying AI-powered chatbots can have a significant impact on your business environment.

 

Chatbots can increase your product and service visibility to a large number of messaging app users. They can also be more efficient and error-free than humans.

 

Chatbots serve as a link between customers and businesses. They will improve the consumer experience and open up new prospects for your company. They will also aid in enhancing your company's efficiency and lowering customer service expenditures. They are also a great help in building your brand credibility.