The secret to the success of any business depends on how efficiently you serve your customers and how much they rely on you or trust you. Earning customer satisfaction isn’t very easy, but chatbots make it possible by delivering exceptional customer service. Artificial Intelligence capabilities of chatbot give it a humanly touch in terms of its conversational style and response mechanism. In this blog, we shall discuss the usefulness of AI-based virtual assistant.
How Chatbots for Customer Service Impacts Business Revenue?
As per the research report from Zendesk, customer service whether both good and bad impacts revenue.
- 62% of B2B and 42% of B2C customers make more purchases after experiencing a good customer service.
- 66% of B2B and 52% of B2C customers stopped buying products after having a bad customer service interaction.
Customer service is an important element that contributes to overall brand value of a company. To understand the significance of customer service and it impact on business, consider reading following pointers:
- The corporate image of a company is measured in terms of the quality of customer service offered to their users.
- Client having experienced good customer service is very likely to come back and use your service or product again.
- On the contrary, an unsatisfied client would definitely not reconsider your brand, especially when there are several other options available in the market.
- Brands think of delivering excellent customer service as an opportunity to improve their reputation, retain old clients and earn new ones.
How can Chatbot Improve your Customer Service?
Let’s understand how AI-enabled chatbot helps to improve customer service:
- Rapid answers from chatbot result in speedy customer service
Customers getting quick resolution of their issues equate it with a good customer service experience. Digitization of customer service or automating it through the implementation of chatbot has the power to speed up issue resolutions, thereby improving customer service satisfaction levels. Even impatient customers expecting instant help from customer service can benefit through chatbots that tackle all sorts of issues in the shortest possible time.
- Train chatbot once and immediately put it to use
Though developing a chatbot comes at a cost, it is a one-time investment with assured ROI. On the other hand, having a human instead of chatbot requires investment of time and effort on rigorous training. Automated customer service agent in form of chatbot can offer huge time and cost savings in this space.
- Pre-emptive response by chatbots
As chatbots are empowered with the Natural Language Processing (NLP) and Machine Learning (ML) capabilities of Artificial Intelligence, they deliver a level of responsiveness that isn’t humanly possible. As per the Forrester report of 2017, companies are keen on adopting automated customer service agents for enhancing conversational interfaces. These AI-powered chatbots with ML and Predictive Analysis power would become capable of anticipating needs of customers by analyzing the context, preferences and customer queries. These chatbots harness the potential of embedded artificial intelligence to become smarter with time.
- Increased customer engagement and improved interaction
Chatbots are programmed to engage in friendly conversations with users. These bots are quite proactive to resolve any to all sorts of customer issues at any time of the day. With a friendly tone and helping nature, they help customers to stay on the website for longer time.
AI chatbots recognize customer’s browsing behavior, interests and preferences. Accordingly, they respond with the most relevant suggestions that are appreciated by customers. In other words, chatbots possess the ability to up-sell and cross-sell quite efficiently.
- Scalability and Speed
Chatbots make it possible to scale up the customer service despite of limited resources by responding simultaneously to an array of customer inquiries, simply by switching on to another sever. These AI chatbots learn from every interaction with customers and eliminate the need of employing and training staff that speak the local language.
Wrapping it up…
Chatbots are disrupting the customer service industry with its exceptional abilities of multi-tasking and swiftly responding to automated queries. Businesses have realized the significance of messaging or conversational apps in form of chatbots to engage with customers in an interactive way. Implementing such conversational interfaces with the help of professional chatbot development company gives businesses an opportunity to connect with new and existing customers and foster a unique revenue stream. This AI-powered and real time messaging chatbot development services help users to communicate with brands and get familiar with it.