Like IoT, Machine Learning and AI, ‘Chatbots’ too have become a buzzword in the last few years with many companies foraying into this space and some even providing DIY bot solutions to customers. But not many people truly understand the wide range of functionalities that bots can offer. Bots are much more than the little popup chat window on a website or app that says ‘hello’ to visitors. In fact, they are already an essential component of several popular services that we use everyday like Netflix, Amazon and Google. Intelligent bots can be programmed to perform a large number of tasks and work on multiple platforms. Conversational bots are among the most popular bots for businesses since they can emulate conversations with a human being – something new age customers appreciate far more than ticketing systems and long waiting times. If your business hasn’t used bots yet, then this will be worth a read because beyond 2020, the winners will be those who can quickly adopt new technology and stay relevant.
1. Bots can reduce Operating Costs
As a business grows and wins more customers, so does the need to improve customer satisfaction and retention. In many cases, this is achieved by employing large customer service teams that are deployed to service existing customers. But what happens when the number of customers keeps growing? Team sizes also increase and are sometimes even outsourced to meet demand. This model poses huge logistical and managerial challenges for organizations who will then have to invest more to make these processes efficient. Customers can often become dissatisfied for something as simple as not being able to find the answer to an FAQ, or being made to wait for a few minutes longer. In contrast, a single bot can service dozens of customers simultaneously, saving time, cost and improving satisfaction levels.
2. Bots can increase Productivity
Productive teams are very essential for a business to function efficiently. When servicing teams get overloaded with large volumes of customer requests, it can increase their burden and result in stress and lower levels of productivity. With bots as the first responders, a large number of customers can be engaged simultaneously. This leaves the servicing teams with more time to address genuine customer issues, allocate their energy more efficiently and communicate better with each other.
3. Bots can do multiple tasks simultaneously, 24/7
For better output, it is imperative that all business processes are executed with maximum efficiency. Bots can be deployed to perform a variety of functions such as sending brochures to potential customers, answering FAQs, raising service requests, extending warranties, facilitating purchases, storing invoices and communicating with employees. Bots are also not restricted by time – they are available at all times irrespective of whether the office is open or not.
4. Bots can boost Customer Satisfaction and Ratings
Customers like brands that are dedicated to solving their problems. Most millennial customers dislike waiting for long periods to get their queries addressed, and appreciate if they can communicate with a service executive directly. As conversational bots are available 24/7 and accessible on channels like WhatsApp and Facebook Messenger, customers can get instant answers to their queries all while ‘talking’ to a bot, instead of waiting. This can significantly improve customer satisfaction levels and win favourable reviews, in turn attracting more customers.
5. Bots can help you in Marketing & Promotions
Bots are a relatively new technology and while businesses are rapidly adopting them, they can still be something to talk about in the media. Using the latest technology gives the business a competitive edge and makes it future-proof for tomorrow’s challenges. Capitalizing on bots and automation can draw attention to a business an drive potential customers to try it out for themselves. In addition to this, bots themselves can be programmed to automate broadcasting of information on various media channels
With the world moving towards smart technology and an ‘always connected’ environment, the adoption of solutions like bots is expected to pick up quickly in the next few years.
For more information on conversational bots and their integration, please drop a message to email@example.com