There are many benefits to AI chatbots, for both customers and for businesses. For customers, benefits include:
Having to wait for the next available operator for minutes is not history yet, but chatbots are well on the way to ending this problem. Maintaining a 24/7 response system provides a continuous line of communication between the seller and the customer during a live chat. Of course, this benefit depends on how well the bots have been built. Bots that are unable to serve simple customer queries fail to add value even if they are 24/7 available. The main issue after this is to what degree chatbots can understand and solve customer problems.
A human operator can only concentrate on one customer at a time and only answer one question at a time. A chatbot, on the other hand, can answer hundreds, even thousands of questions at once. Depending on the speed of the cloud, internet, and software mechanisms, responses can be provided within milliseconds.
When a customer talks to a customer service representative, they have no guarantee that other representatives are providing similar, consistent responses. If a customer service representative is not helpful, a customer could be tempted to try calling again to see if the next one is better. This unnecessarily prolongs the process.
While customer reps and customers sometimes lose their patience, this is something that bots are incapable of. The impatience of the representative and the consumer during the solution of a problem is one of the human-related failures. The representative is expected to be more patient as much as possible so that the company can keep consumer satisfaction high. Chatbots can show the patience that no human can provide. In this way, a human-sourced consumer service problem can be resolved directly.
Since bots exist on digital platforms where people spend the majority of their days working, bots can be used to automate common tasks such as providing advanced search functionality and arranging meetings. Chatbots do not just have to be used for shopping. It is extremely convenient and time saving to hand over repetitive tasks such as arranging meetings or researching a topic to a chatbot.
A chatbot or a customer service specialist is not a psychotherapist, they don’t listen to your personal life and give you tailored advice. Chatbots are, however, able to deliver more personalized experiences than customer service specialists are, who have no time to prepare for your enquiry and need to understand the context in real time. A chatbot has access to the history of your interactions with the company and can therefore deliver a personalized experience. Given that chatbots are a relatively new technology, this is not something most companies are focusing on now but it is being worked on for future chatbots.
For companies, benefits include:
The ever-growing customer service department can be managed by deploying increasingly capable bots that can deal with more and more complex queries. Making workable chatbots comes with a certain amount of investment costs, but this cost is most likely going to be lower than consumer service salary, organisation, and education. Besides the implementation of investment costs, the added costs of chatbots are relatively low.
Bots can be a great way to present users with recommendations, to introduce them to new products and services from your company. Bots are able to also boost sales because of their 24/7 availability and fast response time. They recover sales from those customers who are unwilling to wait for a long time for answers.
Increased customer interaction
Bots provide another opportunity to reach out to your customers. They can increase customer engagement with tips and offers. Real-time customer communication of chatbots helps the customer find what he is looking for whilst also evaluating different suggestions.
Reaching new customers
Chatbot platforms such as Facebook Messenger are extremely popular. Being continuously active on a platform such as this one, with an extremely large customer base, helps companies reach new customers who may otherwise not want to reach out to the company because they feel email or phone is too big a step.
Gaining a deeper understanding of customers
Chatbots provide your business with detailed records of your customers’ greatest difficulties in navigating your site or app, helping your company improve its products and services. Chatbots are optimal tools for organizations to educate themselves about customer expectations. With the data provided by the chatbot-customer interaction, customer-specific targets can be planned. Thanks to chatbots, the organization can be given feedback, and improvements can be incorporated by analysing said data.