Use Cases | 4 MIN READ

6 Reasons Your Business Needs The Treasure Named Chatbot

Published by Hardik Makadia on 12-Jun-2020

Chatbots are not a futuristic concept anymore. Global market insights predicts that the chatbot market worldwide will be worth over USD 1.34 billion by 2024.

Businesses are adopting chatbots widely across different verticals like Real Estate, Finance, Education, Banking, Hospitality, Insurance, Healthcare, Human Resources, Restaurants, and many more. Chatbots have proven to be an efficient and cost-effective tool to streamline business processes, increase leads and grow your business.

Popular restaurant chains like Taco Bell and Dominos are using chatbots to arrange delivery of parcels. Big e-commerce brands like H&M and Tommy Hilfiger are already selling many products via chatbots. Many small-scale businesses are increasingly using Facebook Messenger bots to talk to customers and take orders.

From addressing customer queries to streamlining internal processes, chatbots can do it all! Let’s take a look at how your business will benefit from chatbots.

6 Ways Chatbot Is An Asset For Your Business:

  1. The Lead Generator

    You wouldn’t want your website traffic to go to waste. Many businesses today get a lot of website traffic but fail to convert those numbers to leads.

    Think of it like a prospective buyer walking into a store but leaving without purchasing any of your items because the store was unattended. This is where chatbots come to the rescue.

    A chatbot for customer service greets the visitors, engages in conversation with them, addresses their queries, and directs them to the solution. This provides a personalized experience to each of your website visitors, thus enhancing your brand value and attracting more customers.

  2. Scaling Up Operations

    Humans cannot handle more than a handful of queries at a given point of time. If your website has more than 2–3 visitors looking for answers at the same time, then most of them would have to wait to get in touch with your support team.

    This increased turnaround time also is one of the reasons why your customers switch over to your competitors.

    Enter chatbots! With customer service chatbots, nobody has to wait. No matter whether you have 20 or 200 customers on your website/application, a chatbot can cater to the queries of hundreds of visitors at the same time. This eliminates the need for you to continually monitor your website or live chat for customer queries. A bot can also route the difficult queries to your customer support reps, using chatbot-to-human handover feature!

  3. 24*7 Availability

    As human beings have deadlines to meet, shift timings to adhere by and more important tasks at hand, they cannot be addressing queries of your website visitors round the clock.

    This is where the chatbot comes in! Customer service chatbots can work round the clock to cater to the queries of your customers. If a potential customer discovers your website late at night while surfing(which they usually do), they will still be able to interact with and find answers on your website.

    This way you can satisfy your customers with zero waiting time, making business more approachable.

  4. Time and Effort Saver

    The biggest benefit of any robot is saving a lot of time. Chatbots in customer support are no different.

    Chatbots work at the grassroot level, by interacting with each potential lead in a personalized manner saving the collected information to a database.

    As a business, you will not be wasting your time in fruitless or repetitive queries. With chatbots in place, you and your sales team will be dealing with a much narrower and pre-qualified lead base which will save you both time and effort.

  5. Getting More Out Of Your Data

    Businesses generate more data than they can handle. Extensive amount of scattered data without any proper means to access or make sense of can be overwhelming.

    Chatbot can collect data into your existing repository tools storing all the information exchanged with the customers. It can even scoop out the information that you are looking for, at the click of a button, so you don’t have to scour ton of data.

    Apart from fetching you information, the right chatbot solution will allow you to create a bot that draws insights from your existing data. Meaning, you get actionable insights from your data!

  6. Cost Cutter

    Chatbots can easily communicate with thousands of customers at the same time, making them equal to loads of employees. This drastically brings down expenses.

    Chatbots in customer support also help you drive revenue by freeing up your employees to focus on more important tasks. The day-to-day tasks can be handled by your chatbot while your teams can focus on nurturing leads and closing sales.

    This way, your business can cut costs and at the same time improve profits.

Looking at the massive number of benefits of chatbots, more and more businesses are now going the chatbot way! Using the right chatbot solution, you too can increase sales and productivity in your business.

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