Chatbots can do more than just answering simple questions. Here we outline three key benefits of chatbots for businesses.
In 2019, Gartner predicted that 10% of first contact enquiries are going to be taken by chatbots – by the year 2020. At that point, less than 1% of those customer questions were handled by chatbots.
Putting that sort of growth into dollars and cents, the worldwide chatbot market is predicted to grow at a compounded annual rate of around 30% – culminating in $15.7 billion by 2024.
There has got to be a reason behind this sort of rapid climb – and it’s actually pretty simple: chatbots benefit businesses who are increasing adoption of conversational AI.
Here, we outline three key benefits of adding chatbots to your business:
Improved costs
Chatbots aren’t expensive to start with – we’re even letting businesses get their own for free of charge for 60 days – and whatever investment is involved are often quickly offset by optimizing the value of running a contact center.
How do chatbots optimize contact center costs? Simple keyword chatbots can handle basic customer service enquiries. This reduces the amount of inbound contacts a contact center receives, while also freeing up agents to handle more complex tasks.
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Some companies saved 15% on their costs once they deployed a chatbot over WhatsApp Business API.
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While keyword chatbots can help optimize costs for your contact center, sentiment analysis chatbots can help generate revenue for your business. AI sentiment bots can have conversations with potential customers and supply a conversational customer experience from start to end. Sentiment analysis enables these bots to know human emotions and moods, which allows them to deliver appropriate responses towards creating meaningful conversations and building customer relationships.
In addition to optimizing costs and helping generate additional revenue, chatbots also generate:
Higher CSAT
Improving customer satisfaction is challenging over traditional channels. Customers will typically abandon calls after waiting between 45-95 seconds – and a customer with an unresolved enquiry won’t typically be very satisfied.
Chatbots improve customer satisfaction by providing immediate assistance to customer FAQs or simpler requests which will be automated. This leads to higher first contact resolution and instant customer service resolution.
How much can chatbots improve CSAT? Mukuru saw customer feedback they received increase sixfold.This coinciding with their WhatsApp chatbot release.A positive sign they attribute to their chatbot.
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And while chatbots might not be ready to resolve highly complex customer queries, they will gather important information that helps just in case of live agent takeovers. This provides agents with full context of the customer’s needs, which makes for:
Better customer experience
Chatbots help create better customer experience in several ways. First, there’s the presence across all popular chat apps and channels.
Did you know? Infobip’s Answers allows you to deploy chatbots over WhatsApp, Viber, RCS, SMS, Live chat, Facebook Messenger, and Apple Bus.iness Chat
This means that customers can reach your business to urge immediate answers to their questions over the chat app they like and in an environment they’re comfortable with.
Quick answers, high first contact resolution, and instant customer service resolution all work together to make a positive customer experience that lends itself to collecting feedback.
Chatbots can collect customer feedback with surveys during a natural, conversational tone. This encourages customers to supply more detailed answers you’ll use to further enhance customer experiences.
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Answers for all of your customers’ questions
These are three key benefits that chatbots can bring back your business.This include improved costs, higher customer satisfaction.And better customer experience.
Infobip’s Answers is an intuitive chatbot building platform that allows you to build and deploy chatbots on WhatsApp, Facebook Messenger, Viber,website,Live Chat, SMS, RCS, and Apple Business Chat – all from one platform. Click here if looking for chatbot development services in kenya.