What’s the Deal with Chatbots? 

Aug 15, 2019

Chatbots could potentially save companies $8 billion annually by 2022. That is an enormous amount of money and perhaps the explanation for why more and more companies are turning to chatbots for support.  

The real question is, what is a chatbot? Chatbots are essentially virtual customer service agents that work to assist customers with any questions or concerns they may have. This martech innovation has become ever more popular as about 86% of companies that use AI are also currently implementing chatbots.  

Real-Time Personalized Communication  

It’s not uncommon for customers to have questions or concerns about a recent purchase or even a potential purchase. Unfortunately, many customer call centers aren’t the most reliable and tend to leave customers on hold for minutes on end, or maybe the customer is in-store and the wait time to speak with an employee is very long. These are instances that can be frustrating and disruptive for the customer and their experience. Chatbots are an efficient way to provide customers with the specific answers and information they are looking for within seconds of requesting it. This real-time, personalized communication can help shape the customer experience into a positive one regardless of the issue.  

Customer Experience 

Chatbots give customers the opportunity to ask questions and receive answers right in that moment, just as if they were in-store, with a store representative at their disposal. Shifting business sales online can be challenging, especially if customers don’t feel like they have the same access to information as they would at a physical store location. For that reason, chatbots can be the key to unlock the desired customer experience. A happy customer can often result in a loyal customer, which means chatbots could be a driving force for sales and business growth online.  

Boost Sales  

Like a salesperson, chatbots can act as a brand representative when a customer is inquiring about a purchase. If a customer has questions or concerns while making an online purchase, chatbots can act as an additional source of information and guidance for the customer to square up any doubts. At the same time, chatbots can also give companies an understanding of what kind of trends are on the rise, based on customer inquiries. If multiple customers express interest in a specific product, the company can take the data they are acquiring from chatbot interactions and utilize this information to drive business decisions and sales.  

With a projection that 80% of all companies will be using chatbots by 2020, it’s important for companies to recognize the benefits that chatbots can yield for their business. With 24/7 access, chatbots give companies the ability to provide customers with instantaneous personalized assistance and give them the customer experience they desire, ultimately driving sales and business growth. If companies want to optimize the online customer experience, chatbots could be the way to go. 

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