You can improve your small business with AI Chatbots as well

The global chatbot market has grown exponentially in the last few years. Research  has shown that technologies which employ artificial intelligence (AI) provide a seamless user experience. 

Chatbots are everywhere; the virtual world is already brimming with them. Healthcare, e-commerce, education, media and entertainment, the banking sector, other financial services, tourism; name it, and you’ll find the implementation of chatbots. A chatbot is an internet-based computer program that is designed to chat/communicate with human beings. They perform on the principles of artificial intelligence, a technology that enables computers to respond like humans. They are known by multiple names such as talkbots, IM bots, or just bots. Your customers also bump into them often on various websites, their smartphones, social media and even while shopping online. While they are happy to interact with them, as a small business owner you may still be unaware of how the implimentation of a chatbot can  help you by increasing your overall efficiency and growing your bottom line.

With chatbots, you can scale up your business by:

• Providing around the clock customer support and seamless user experience
• Monitoring Consumer Insights
• Improving Customer Engagement
• Increasing Lead Generation
• Fostering Savings  

Provide round the clock customer support and seamless user experience:

Hiring customer service reps to answer inquires 24/7, 365 can get very expensive. Most customer concerns are repetitive and based on FAQs (frequently asked questions). Chatbots are a great help at solving recurring customer requests. Currently, they can handle preliminary, simple customer requests and complaints. The algorithm of the chatbot updates itself as it interacts with more and more humans. 

Monitor Consumer Insights:

Have you ever ended up window shopping on a website or mobile app and left the cart full without completing the purchase? If yes, you would have definitely received a generalised question asking the reason for not purchasing the product or service. It’s the chatbot doing its part of the job. They effortlessly adjust the algorithm converting static pages into profitable ones. 

Another striking feature of bots is the ability to optimize websites. Chatbots employ artificial intelligence to help companies map consumer patterns. Bots collect feedback by asking and responding to essential questions; based on the input received, they help companies track and picture consumer choices. The customers get improved and personalised services.

Improve customer engagement:

Your customers need your attention; they must feel that they are valued and that you’re aware of their likes and dislikes. They feel wanted if you remember them on their special days and offer them a personalised experience. You must communicate with them consistently, lest they move on to another service or product provider. Capture their interest and have them as your loyal customers who stay with you lifelong.

Increase Lead Generation:

Chatbots help a business to identify the persona of their buyers better. Constant feedback can help your company better understand their users’ journey. The handling of several predetermined questions not only saves extra human effort but also creates leads for further prospecting. In doing so, it nurtures old and cultivates new consumers. Discount coupons, deals and follow ups can all be timed and bot-generated.

Foster Savings:

Automation technology reduces person to person interaction, thereby reducing the number of people you employ at your business. Bots offer 24/7 services throughout the year without you having to worry about holidays and vacations. Thus, you virtually expand your office space by implementing artificial intelligence that not only works on the tasks assigned but also upgrades itself each time it comes in contact with a new customer type.

While substituting humans for chatbots does require some investment; overall, they save in terms of staff training, salaries and infrastructure. Chatbots help decrease operational costs, thereby increasing your profit margin. Hence, you can earn more and scale faster with less.

Like every other technology, chatbots also have their limitations. Artificial intelligence is upgrading and learning to match human intelligence. Chatbot/AI provides a plethora of advantages. It seems unrealistic that they would ever replace humans completely; however, the implementation can reduce unnecessary workloads on employees. 

To learn more about how a chatbot can help streamline your business visit YourAdminOnline.com and click “Need Assistance” to speak with Aaron the ChatBot or, you can request a consult. Our experts on AI can guide you through what’s needed to maximise your profits with minimum investment.