4 Ways the Future of Chatbots are Helping Businesses Grow

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4 Ways the Future of Chatbots are Helping Businesses Grow

Over the years, businesses have gone through a remarkable evolution in the way they interact with their customers. The first breakthrough came in the form of the telephone, then came email, followed closely by smartphone applications. It is now time to introduce . . .  the future of Chatbots!

Recent technological advances, like chatbots, provide consumers with an interactive customer service experience, freeing up company resources. This allows for the development of more efficient daily practices.

Here are four ways the future of chatbots are helping businesses achieve their organizational goals.

  1. Resource Allocation

The majority of customer service inquiries placed each day are resolved by scripted interactions. Meanwhile, business owners are finding that their employees are better utilized when assisting more complicated inquiries. Specialized chatbots, dedicated to handling generic issues, will free up resources.

  1. Scalable Customer Support

Almost all businesses aspire to expand their customer base. To accommodate the projected growth, increasing resources is required. Unfortunately, human customer service agents can only attend to a limited number of inquiries. This is where the chatbot steps in.

Chatbots are capable of handling a number of simultaneous customer inquiries. As an automated service that operates around the clock, this drastically reduces the pressure on their human counterparts. With the solution at hand, live agents are able to handle some of the customers’ more difficult problems.

  1. Increases Time Spent on Page

The average time a potential customer spends on a page is an important factor to encourage a commitment to buy. As chatbots are interactive by nature, they have the ability to increase customer engagement and, therefore, drive up the average time spent on a page. Bain & Company found that customer engagement increases spending by up to 40%. It’s important to note that higher engagement leads to an increased potential for customer spending,

We are seeing the decline of frustrating PDF product manuals with complex information. Businesses are now opting for a chatbot to walk their customers through the process. Setting chatbots up to answer FAQ’s about a particular service or walking customers through a product operation will encourage the visitor to stay on the site and engage more with the brand.

Not only are bots useful to the business, customers are also finding that they’re more convenient for speedy resolutions when inquiries are time sensitive. Instant messaging eliminates the frustrations associated with being put on hold or waiting up to 24 hours for an email response to an otherwise easily resolved issue.

  1. Provides an Additional Sales Channel

Chatbots are also broadening customer reach by providing businesses with additional sales channels, much in the same way marketers scour social media pages and forums to gain information about their customers. Chatbots can be set up in these sites to assist the sales department and interact right where potential customers are.