How Can Chatbots Make an Impact on your Business Growth?

  • Cubettech
  • Artificial Intelligence
  • 5 years ago
How Can Chatbots Make an Impact on your Business Growth?

As the digital era is booming in, businesses are looking for options to drive seamless Customer Relationship Management (CRM). Chatbots offer a wide range of support in businesses like e-commerce, call centers, searching and online retailing. Any business is driven by the customer base it owns. Currently, we are aware of the chatbots in smartphones and devices by big giants like Apple, Amazon, and Google. Soon, we will have chatbots to extend support to the customers in online shopping, hotel receptions. Chatbots offer value-added support including 24*7 support with ease of availability.

What are Chatbots?

Chatbots are highly flexible and can be customized according to the business requirements through slight modifications in API links which are used to code the bots. Chatbots find an extensive range in smart messaging; round the clock support for travel scheduling of buses, trains and flights; Income Tax return filings and documentation support for HR personnel. We have two types of chatbots. They are Command-based chatbots and AI-based chatbots. Command based chatbots are coded to answer either YES or NO. AI-based chatbots are coded using Natural Language Processing algorithms to answer complex and ambiguous questions.

Why Businesses Need Chatbots?

To strategize the market needs of the customer through data analytics and collection of feedback, real-time chatbots are more useful than human labor. Real-time applications get this done in industries like Banking and Finance, and Hospitality. Now we have a wide range spread of chatbots, let’s explore why businesses will need chatbots.

Boost Sales

In online marketing and e-commerce, sales are increased by instant pop-ups and engaging users. Chatbots are replacing email feedbacks received after purchase. Abandoned carts in e-commerce sites are using the help of chatbots to influence the customers to buy a product by giving lucrative offers.

Monitoring Consumer Behaviour

Personalized customer interactions are made possible with customer service bots. Based on the customer’s purchase history and preferences, chatbots can offer feasible shopping guidance through push notifications. They act as a point of communication between your brand and customer, by reaching out to your customers asking for a survey or feedback. Chatbots helps businesses to gain insights on market trends, products-in-demand, product improvisations etc.

Businesses can also use chatbots for FAQ automation and to serve as helpdesk team.

Increased Customer Engagement

Chatbots satisfy the customers with smart pricing methods created using AI techniques. If your business receives a lot of inquiries from customers, chatbots can take the role of a customer support team, and if required they transfer the inquiries to human agents. Chatbots help to meet customer needs by instantly delivering possible resolutions.

Business Process Automation

Rather than utilizing more individuals for tiresome and repetitive tasks, you can introduce a chatbot business solution that automates the business process and drives organizational efficiency. For instance, in Banking and Finance, chatbots are used to negotiate with the customers to opt for policies which are customizable and flexible. Smart messages are sent via chatbots to intimate the customer about bill dates.

Act As Personal Assistants

Chatbots can help with an enormous assortment of assignments that will give you back time to concentrate on other, valuable tasks in your organization. For instance, HR systems are automated using chatbots to prescreen the applications and give a quality index using background scoring done during exams. Documentation end in recruitment is made simple with the help of chatbots. Training after hiring is made easy with the help of chatbot based interactive training sessions.

IoT based Assistants

Recently IoT based chatbots are used as assistants. They use voice technologies to answer anything and everything.

Bottom Line

Experts are still with the view that chatbots are in their early stages. We have stepped into the next level of automation in the digital era. We have no clue on how the chatbot-enabled society will look like. Chatbots play a significant role in small and medium-sized industries. Chatbots will soon become a day-to-day item like smartphones. Soon, they will replace human assistants. This will increase privacy and will reduce dependability on other human beings. Chatbots enhance scalability and user-friendly nature of the firm. On the off chance that you think about taking the leap into chatbots in your firm, do visit Cubet’s chatbots development page. We are one of the prime chatbots development company holding unparalleled technical expertise in developing chatbot based applications. Utilizing the latest technologies, we come up with applications that scale your business to new heights.

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