May 14, 2019
What you are missing out if you don’t have Chatbots in Business?
What do you mean by Chatbots in Business?
A Chatbot is an intelligent software that can simulate the conversation between itself and a user. Machines did not have the opportunity to talk to us till now. But, chatbot fulfills this innovative idea of communication. One may not know but, the first chatbot was built-in 1964 in MIT. What just started as a conversational bot years ago has become a powerful tool in today’s world. People who accommodate chatbots in business know the power these creative bots have for the enterprises of today.
Functions of Chatbots in Business
Chatbots are developed by keeping in mind their purpose for a task. There are different types of chatbots in the market as of today. Each bot brings something unique to the user and to the business as well.
As a Virtual Assistant
These chatbots can act as personal assistants. They are developed for a more personalized experience. They can also have the ability to talk naturally. Some famous virtual assistant that we all know are- Amazon Alexa, Google assistant and Siri With better tech developments, the IT industry is focusing on making these assistants more intelligent than before. They can perform your commands in a smarter natural human way.
Know More: Is Amazon Alexa a Chatbot?
Know More: Is Siri a Chatbot?
As a Business Support
These are the bots designed for communicating with the users of one single web domain. Let’s Say your business has a website online. Now, there is always something your user cannot understand. Your users don’t even have time to scroll through the pages. Support chatbots do your websites work conveniently. It makes your users experience more refined than before. They can have the ability to answer a vast range of FAQ questions easily. Support chatbots help your business to convey your message subtly. They are the best knowledgeable bots. They support not only your users but also your business.
As a Skilled Business Chatbot
These are simple chatbots and do not require much contextual awareness. They are designed with specific set commands and functions during their development processes. They are mostly intended to make your life easier. Speech recognition is usually recommended for these chatbots in business for quick actions. These bots can be used in offices and homes to make daily tasks faster. Let’s say you want to switch on the Wifi in your office. With the help of this bot, your speech is the command.
This is just an easy way to classify chatbots. But there isn’t a simple classification system kept in place. Some bots for business are designed to be both virtual assistants, and support chatbot. Some are designed keeping the functionality of all three types in one bot. but one thing is known- they are always useful.
Some Features of Chatbots in Business
Managing employees, tasks, and resources is a big hassle. Chatbots are designed by many enterprises to schedule meetings, plan accordingly and save time. These bots can make the workplace experience a more personalized one. Different functionalities are usually incorporated at workplaces. Companies now know that keeping your employees and workers satisfied is the best strategy to keep them productive. So, these chatbots help them in boosting productivity too by breaking the monotonous work routine.
A personalized robot has the ability to make the office experience a more comfortable one. With tech development in full swing, enterprises wish to keep AI chatbots to help their workers conveniently. Soon there would be AI chatbots for HR and technical work in the future! With chatbots in business, managers have the opportunity to create a smarter workforce. Brands who have not adopted these bots are missing out on creating a unique workplace experience for their dedicated workers.
You probably have a customer support center set up for your brand. Well, the traditional support service is getting outdated in the market. Your customers have become comfortable with chatting and texting. According to some reports around 35% of people have positive perception about bots, and other 50% have a neutral perception — this has created possibilities for better customer services. Chatbot customer services mean reducing costs for your company. You might be wondering how to cut your costs at the backend.
Well, your competitors might have already figured it out. smarter customer care results in reducing significant costs by as much as 30%. These AI chatbots could be a small investment that can go a long way. Other than saving money and resources, businesses have the opportunity to handle as many customers at a single time. Earlier you would need one worker to handle one customer, but now a single chatbot has the capability to help 10,000 customers. Also, your customers prefer talking on a digital platform. So, businesses have moved on with the change in user behavior.
Know More: Chatbots vs Mobile Apps
To be true, you are missing out on thousands of leads while not implementing this solution. Chatbots can create a larger sales funnel than other techniques. Generating leads is one of the most essential processes while running a business. It ensures a path for better sales in the future. Chatbots have the ability to generate better leads in a smarter way. Their dynamic design makes them on the top of their game. Also, they can be customized according to your brand and could do wonders for a business. These lead generational chatbots have multiple uses and give a better chance for generating sales.
To be ahead in business, big players have already started accepting their presence. Sephora designed a bot for their customer service and was able to generate better leads. According to reports their sales increased by 11% and made a better profit than before. More and more companies are stepping in before it’s too late. As of 2018, only 20% of the internet uses chatbot but by 2023, 93% of the internet is going to use chatbots. Brands don’t want to miss out the benefits that these chatbots are offering. They know that the users are changing so strategies should improve too.
Building Brand Royalty
Companies can grow their brand loyalty if they provide a user-friendly experience. Chatbots work as the secret recipe for increasing brand loyalty. They help enhance customer relationships in an efficient way. This automation of strategies helps the human employees to focus on other vital tasks that require a human touch. A personalized experience and increasing brand loyalty is the reason for the rise of chatbots. Ironically, they provide a human feel to a customer every time and make it more likely that your user returns to your brand. By the year 2020, nearly 80% of businesses will have a Chatbot built for their brand.
In an interview, Microsoft CEO stated how he thinks that chatbots can revolutionize the future. Chatbots can boost business performance due to so many reasons. First of all as discussed above they are helping brands reduce significant cost. Then, they are building loyal customers and providing a platform for better customer engagement. All these benefits of chatbots will in the end help generate better sales. The main aim of a business is to create more profit. These Chatbot strategies will surely enhance the performance of any company if the right chatbot is incorporated.
Chatbots are revolutionising marketing. Bots in business have better customer strategies. They can reach relevant audiences, analyze and predict customer interests and preferences. According to reports the chatbot that was launched by Sephora helped them generate 50$ extra from every customer who used bots. Bots have the ability to persuade customers. They smartly provide personalized suggestions and target cleverly.
Enterprises who are not thinking about chatbots are missing out on the important insights these bots provide. This data if managed with efficient strategies could let them plan efficiently. Companies have the chance to provide improved offers and services than before. Through chatbots, you can know what your user needs and target their demands the next time. Chatbots can record data, trends, and metrics to monitor interactions subsequently and adjust their processes and responses too.
Reports tell how a chatbot could answer 80% of your customer’s queries. Users usually ask the same repetitive questions. Chatbots help saves time by chatting with hundreds of users at an instant. If you need to answer hundreds of your customers, that will undoubtedly take so much time. With chatbots you save time and hence, you save money again. time is a precious commodity. Time saved today means, productive time available for tomorrow’s growth. Also, chatbot development takes less time than other digital solutions. Thus, they seem like the perfect partner any business should have.
Don’t you think that your business is missing all this. Do you think you can afford to lose all of these services in a market with stiffening competition every day? the market is changing, and it’s high time to change before you are left behind. Enterprises still have time to incorporate bots for creative strategies, but they need to be fast. They need to decide between the traditional market or digital option.
Know More: 5 reasons to get a chatbot for business.
Fomo-fear of missing out
Fear of missing out? You need to take a step as early as possible before it’s too late. If you think that you are missing out with all of these opportunities? You require a solution that can promise you a scalable future.
Deciding to make a chatbot for your business?
If you have decided that its time to build chatbots in business. you are on the right track. but for a successful solution, you need to plan your way out. You need to keep your goals for the bot mapped out before the start of chatbot development. Maybe your brand needs lead generation chatbot, or maybe your brand needs a simple FAQ chatbot? It all depends on your business model and your enterprise. once decided, you need to team up with an excellent chatbot development company that can offer you the best services for your brand.
Know More: How much does it cost to build a chatbot?
Know More: The Ultimate Guide to understand Chatbots
Know More: Chatbot Development: A Complete Guide
Relinns is a tech development company and has expertise in chatbot development too. we help businesses grow by guiding them along this digital path. we believe in your vision and always provide the best quality digital products. Chatbots are the future of tomorrow and you need to build a chatbot that can help you grow. Have any innovative idea? Let’s talk!