Chatbots. Why do you need them?

 In Business, Education, Frontpage

Chatbots are becoming increasingly popular. However, many businesses still don’t use them. We will go over the main reasons why chatbots are beneficial to the growth of your business. But first, let’s define what exactly chatbots are.

What is a chatbot?

A chatbot is a computer program or software that simulates human conversation or “chatter” through text or voice interactions. Chatbot virtual assistants are increasingly being used by users in both business-to-consumer (B2C) and business-to-business (B2B) environments to handle simple tasks. Chatbot assistants enable you to provide 24/7 support while lowering overhead costs and making better use of support staff time.

Why should you consider using chatbots?

1. Customer service cost optimization. 80% of customer service questions are standard ones that a chatbot could easily answer. According to Business Insider, using a chatbot for customer service can result in cost savings ranging from 29% to 46%. In a recent study, IBM discovered that a chatbot reduced costs by 30%.

2. Increasing sales. A chatbot can be used to sell products directly to customers. You can even let them pay for your products via the chatbot. Another way to boost sales is to promote your products or services through your chatbot. Argomall, one of the top eCommerce sites in the Philippines, for example, increased their ROI by 23x by utilizing a Facebook messenger chatbot that answers customers’ FAQs about their products, guides users through a shopping process, and processes payments.

3. Generate more leads. It is common practice to create a Facebook ad and combine it with a chatbot. People who respond to the ad will receive a message from the chatbot in Facebook Messenger, which will convert them to a lead. Aside from generating more leads, a chatbot can also automatically qualify them. This strategy enabled Nissan Israel to sell $380,000 in their first month with a chatbot.

4. Quicker response. When it comes to customer service, 90% of customers consider an immediate response to be critical. On average, ‘immediate’ means within 10 minutes. Chatbots allow you to respond immediately to a user’s question about whether you need to serve 10 or 10,000 clients. Chatbots can be scaled up and down easily.

5. Round the clock customer service. One of the primary advantages of chatbots is their availability 24 hours a day, seven days a week. When you use a chatbot, there is always someone available to assist your customers.

6. Expanded options for tailored messages delivery. Chatbots are ideal for real-time marketing. Imagine, you are going out with your friends on Friday night when you get a message from a new restaurant offering an amazing summer terrace and free welcome drinks. Would you be willing to spend some time there? Most likely, the answer is yes.

7. Good integration with messaging platforms. People are spending more time on messaging apps such as WhatsApp and Facebook Messenger. Chatbots integrate well with those platforms, so you can easily create a chatbot on a messaging app and reach out to more customers.

8. Make your business standing out. Despite the numerous benefits, only 20% – 40% of businesses use chatbots today. So, there’s an opportunity here. While your competitor takes days to respond, you can respond in seconds. If other companies are sleeping and not responding to customers, you can have a chatbot that is available 24 hours a day, seven days a week. When other companies spend a fortune on customer service representatives, you save money while providing a better user experience.

9. Chatbot is a great tool for internal usage. Chatbots can be useful for internal use in large corporations. For example, a chatbot can teach new and existing employees how to use all of the company’s software systems.

10.Users are open to chatbot. To be honest, people don’t mind whether they’re speaking with a human or a chatbot if they get good, quick help.

Wrapping up: chatbots are extremely effective at boosting brands, increasing customer engagement, and providing personalized experiences. Have you used them yet? It’s time to get started!

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