• Lucy Rex

6 Reasons Why Your Business Needs an AI Chatbot

By the end of 2020, nearly 80% of businesses will use some type of chatbot. A lot of tech platforms like Techradar and Techigem constantly mention why businesses need a chatbot. Chatbots are now an important part of business growth and the need for AI-powered bots is only going to increase.

Are you wondering why you should look into getting an AI chatbot for your business? Here are 6 reasons why your business needs a chatbot:

#1 Have your Business Always Open

Having your business always open is difficult, especially for SMBs. This implicates that when a customer contacts you, they won’t get a reply until the business hours resume. They can still leave a voicemail or email you but most of their requests will go unanswered until the next day and that might penalize a sale.

A chatbot can take over at any time and answer most of your customers’ requests. AI chatbots can do more than just answer your customer’s questions, it can also make reservations, give details about your business, give products/services suggestions and recommendations which usually leads to an up-sale transaction. If you look at Pizza Hut, for example, they launched their chatbot that takes personalized pizza orders and lets users rely on their virtual accounts.

#2 Build Trust by Answering Questions

When a customer has a question regarding your brand, they want instant answers. And most of the time, they are common questions that you answered a million times. You might even have a FAQ on your page but customers are always looking for the easiest and fastest way to get their answers. By providing instant replies to all the questions and with the ability to answer queries round the clock, chatbots will take a lot of time out of your end and outperform any human agent. This will build trust and increase satisfaction. among your current and potential customers.

#3 Scale Your Business

Chatbots are by definition a bot and so an automated system. This allows your business to handle more customer queries than previously. If your current customer service is being handled only by human force, then you are probably limiting your number of customers because a human agent can only manage to respond to a couple of customers simultaneously.

But when you use chatbots in correlation to your human agents then you can allow your business to scale its operations without worrying about the increasing number of customer chats and calls. So if you are looking to scale your business then look into chatbots because chatbots helped scale India’s largest sports game by 30 times. India’s most popular fantasy cricket website had its user base grow from 40,000 to 40 million in 6 years which followed by an increase of user’s inquiry. Dream11 used a smart approach and utilized chatbots to help answer the growing amount of queries.

#4 Advise Your Customers to Find the Right Products

Often, your customers will need help finding the right product or service that fits their needs and budget. This is when they usually turn to review websites like TheWireCutter and ConsumersBase that provide great value as they help customers.

Chatbots are a lot more efficient and useful when the customers aren’t sure what products or services to choose from. They can also figure out when your customers need help with their purchase decisions. AI chatbots can not only give an explanation on a particular product but can also give recommendations based on prior queries or purchases from your customers.

#5 Target Millennials

In 2020, millennials love chat options more than any other kind of customer service. They are texting and chatting on a regular basis. For this reason, live chat support has become extremely popular over the past few years.

However, a recent survey showed that millennials prefer to get answers without having to contact or talk to any human agent, and this is why they prefer to interact with a chatbot as opposed to a human.

#6 Increase and Improve User Interaction

Chatbots can and will have conversations with customers as a human would. They can keep your customers engaged and happy by maintaining a conversation. When a website is opened, the user is greeted by the chatbot in a nice way, and can also be fun if you’d like it to be! The user has now the option to ask the chatbot specific questions. The user will be provided with answers from the database, but in a manner that mimics human conversation. With each question, the AI chatbot provides a list of options making it easier for the user. Let’s look at Emirates, they managed to increase their engagement rates by 87% after implementing chatbots.

In today’s competitive market, customers are always looking for personalized and easy solutions. Your customer’s requirements and satisfaction level should be met and done in a way that makes you stand out from your competitors. Additionally, as a business owner, you should always look for solutions to help you scale and optimize your business without taking more of your time or capital.

Chatbots are affordable, (when you compare them to human agent options), fully customizable, and they will help your customers find the right products/services. For all of these reasons, you should implement an AI chatbot for your business without any doubt in mind!

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