10 benefits of using chatbots in your business

Chatbots are emerging at a fast pace. If you’re an internet-savvy, there might be a good chance that you’ve interacted with the chatbot once in a while – banking site or messaging site.  

According to a recent analysis, 80% of businesses use a chatbot to interact with their customers or clients. Here the statistics prove that chatbots are currently popular and growing tech. If you have not yet incorporated chatbot in your business, it’s time to adapt chatbot to grow your business. They perform customer support operations perfectly without any errors.

Keep a note, you need to create an outstanding chatbot design to boost your sale. Follow a few simple steps such as using a chatbot designing platform, set the goal, give a unique name to a chatbot, build natural conversational flow, test the chatbot, evaluate and optimize chatbot regularly. Implementing chatbot strategy in-advance can make wonders.

Whether you’re running a small business or large enterprise, chatbots will play a prominent role in growing your business. Few businesses are integrating the chatbot in social media platforms, mobile applications and blogs to enhance their customer service operations and digital marketing strategies. Moving ahead, a chatbot has several advantages such as improving sales, enhancing customer support, increasing productivity, cost-effective and more.

Benefits of using chatbots in your business are not just limited to enhancing customer service. Stick till the end, the article will provide you with the comprehensive list of benefits of using a chatbot.

Top benefits of using chatbots in your business

Save time

Chatbots will save the time of your customer support team. Having chatbots on your website or social media platforms can deal with basic support questions. Chatbots can provide automated answers to frequently asked questions quickly. So, your customer doesn’t need to wait for a longer time to get a response. Let’s consider, your customer executive responds to one customer at a time. However, a chatbot can respond to thousands of customers at the same time. Serving a huge number of customers will improve productivity. On the other hand, your team can get more time to work on other important tasks.

Endless patience

When a customer seeks help or service, they might be facing the problem with the product or service. This means, your customer might be in a bad mood while contacting you. During the conversation, the customer representative may lose their patience. This can affect your business. Hence a chatbot has endless patience. A chatbot can answer the same question a thousand times and shows their patience that no customer representative can provide.

Improve customer satisfaction

Another great benefit of using a chatbot is they improve customer satisfaction. Yes, you’ve heard it right. Unlike customer representatives, chatbots don’t work for 9 hours a day. Chatbots are available 24X7 and provide an instant reply to the customer.

For instance, customers can visit your website in the early morning or mid-night can get instant answers to their questions. If the questions are related to completing the sale, this can improve your revenue.

Frustrated customers can leave your website when they don’t receive answers instantly. Also, they don’t ever return your website. Thanks to chatbots!!! You can eliminate such scenarios by keeping your customers.

Prevent human errors

It’s no surprise that human errors or mistakes are inevitable. Customer representatives can make mistakes while providing assistance to your customers. The mistake can range from collecting the customer’s personal details to sharing incorrect product price information. This can create major problems for your business.

Chatbots are the perfect solution to offer error-free service to the customers. Since the chatbots are programmed with the complete information there will be no chance of making mistakes or errors. 100% accuracy is guaranteed by using the chatbot in your business. 

Save money

Chatbots are a cost-effective option. Sounds amazing!!! It is a cheaper and wiser option rather than hiring more customer agents. The cost of the chatbots can range anywhere from $50 to $1000, depending on the requirement. Create the chatbot for once and save a few bucks in the long run.

Money is the major benefit of using chatbots in your business. Because chatbots don’t sleep and take breaks. Also, you don’t need to pay during vacation or sick days. Chatbots don’t get injured at your workplace and don’t need medical assistance. These are used for your comfort and convenience. As per the analysis, using the chatbot can save upto 35% of your service cost.

Better team productivity 

Chatbots became important and popular due to the transformation from manual to automated. No human is involved, chatbots are ready to assist with quick responses for every business. By 2023, 90% of customer communication will be handled by chatbots. However, chatbots cannot replace customer support agents completely. Instead, a chatbot will deliver basic support by filtering customers’ requests. Then connect to respective support customer executives according to customer need. Improving team productivity and sales can be easily achieved through chatbots. For basic questions, customers can reach for the delivery time, guarantee policy, and order status.

Increase customer base

Chatbots are considered as the self-help tool for increasing the customer base. Businesses can use the tool to reach a maximum number of customers. This will increase the customer base of your business.

As mentioned above, chatbots can be integrated with other platforms such as social media, blogs and other platforms. Customers can easily interact with your business according to their preferred choice. Integrating chatbots on multiple platforms is another way to grow your business. 

Improve customer retention

It’s a universal fact that retaining customers is a challenging task for every business. With chatbots growing the customer retention rate is simple and easy. But how? Chatbots can provide assistance outside the time-zone. The live-chat support is available around the clock.

Many businesses use a multilingual chatbot to provide better customer experience and increase retention rate. These chatbots can provide assistance in multiple languages, and customers can choose their first or second language while communicating. Ultimately, customers can feel free to ask questions.

Effortless scalability of support

Businesses that provide live chat support need to hire agents according to their requirements. There are few businesses who are unaware of the number of agents they require to complete their operations. On the other hand, hiring more customer agents is expensive. Businesses need to spend money on hiring, training, infrastructure and it’s just a big loss of time. Considering this scenario, using the chatbot is an effective way to handle customer service operations. It reduces the overall cost of training, infrastructure and more.

Chatbots can handle hundreds of conversations effectively. Every chat will be responded instantly without any errors. Simply put, chatbots can easily scale massive amounts of chats by eliminating the business cost.

Showcase new products or services

Showcasing new products or services on the website is a traditional way. But broadcasting new products or services on chatbots is the new norm. This way, you can reach maximum potential customers without hassles.

Understanding your customers is easy with chatbots. Because they provide customer’s personal information and actionable records. With this information, you can send push notifications and broadcast products or services to interested customers. Hence customers will feel happy and valued rather than irritated.

Wrapping up

Big thanks to advanced technology and artificial intelligence, chatbots are becoming more popular than ever. Businesses are using the chatbot to modernize communication with their customers. Also, chatbots are offering excellent benefits for every business. It includes saving time and cost, improving customer satisfaction, better team productivity, cutting down the errors and more. With the advancement in machine learning, chatbots are set to become more popular and intelligent in the future.