How Can Chatbots Help Your Business?

It’s not a coincidence that chatbots are taking off so rapidly. They deliver all kinds of benefits, in multiple areas, to customers and businesses alike. Here are a few reasons why.

They Improve Customer Experience

We already looked at how customers are feeling increasingly positive about chatbots, and how this is part of a wider trend around a conversational approach to online sales and marketing.

Customers’ expectations and desires are changing to match this new environment:

  • 79% of consumers are willing to use messaging apps to get customer service
  • 82% of consumers rate an “immediate” response as very important when they have a question

36% of companies use live chat for marketing, sales or customer service inquiries

Conversational sales and marketing helps deliver a better customer experience, and chatbots are the perfect way to achieve this. They help improve lead scoring, qualification, and distribution, helping customers find exactly what they need and guiding them through their buying journey.

They’re Available 24/7 

Unlike human sales staff, chatbots aren’t limited by the need to go home, have a life outside work, or even sleep. This means they’re available around the clock, allowing customers to get in touch with your brand whenever they want to.

This helps boost convenience for all customers by allowing them to contact you immediately. This is useful because most of us work between the hours of 9am and 6pm. That includes sales staff, so when customers are finished with work and doing their online shopping, the sales teams have also gone home. 

Chatbots can help avoid this mismatch, dealing with customers and relaying any questions or information to sales staff when they get back to work the following day. This way, customers can get in contact with your team more easily, and you avoid missing out on sales.

They Deal with Leads Better

Chatbots can turn a first-time visitor into a qualified lead without any help from a human team member. By asking the right questions, nudging the customer in the right direction, and using persuasion, they can guide prospects through the first stages of their buying journey and even all the way to a sale.

Bots can also identify and filter out unqualified leads based on the information they share about things like their budget and what they’re looking for. This saves time and resources by eliminating customers who won’t become buyers.

With the sheer volume of internet traffic, it’s easy to let leads slip through the cracks and leave your website without ever interacting with your sales team. Chatbots can help plug those gaps and ensure no opportunities are missed.

They Save Costs and Resources

According to Chatbots Magazine, bots can reduce customer service costs by 30%. They do this in a number of ways, such as:

Taking the load off call center staff and reducing the number of inbound calls by dealing with simple issues

  • Saving time on calls with sales staff by gathering important information beforehand so the staff are prepared
  • Cut labor costs by reducing the need for human staff

They Help you Appear Modern and Forward-Thinking

We already looked at the increasing popularity of chatbots and how 80% of organizations are looking to implement them by the end of 2020. This means that investing in chatbots now will help your company appear forward-thinking, tech-savvy, and ahead of the curve.

Having a chatbot on your site shows visitors that your brand cares about technology and is serious about embracing new methods to deliver the best service to its customers.

They Improve Customer Engagement

Customer engagement is an important part of running a business. According to a report by Constellation Research, companies who improved engagement:

  • Increased cross-sell by 22%
  • Drove up-sell revenue from 13% to 51%

Increased order sizes from 5% to 85%

Chatbots help increase engagement by serving as an ever-present point of contact for customers. In fact, they’re even better at doing this than more traditional methods — delivering a typical outreach click-through-rate of 15-60% compared to just 5-10% with email marketing.

Chatbots are always available to assist with sales, provide support, and guide customers in the right direction.

They Gather Useful Customer Data

Chatbots ask a lot of questions. And through the questions they ask, chatbots naturally gather data about consumer behavior and demographics. This feedback is highly useful for businesses, allowing them to optimize their product accordingly.

In addition to the insights bots gather through their everyday use, it’s also possible to have your bots ask specific questions to address certain issues. For example, they can ask users for their opinions on a product or service, or common problems they encountered, to collect direct, actionable feedback for sales staff.