What is Chatbot?
A chatbot is a computer program that simulates human conversation to answer customer questions. When a customer or a lead contacts you through any channel, the chatbot will greet them and solve their problems. They can also assist customers in submitting a service request, emailing, or connecting to human agents if necessary.
Chatbots respond to your questions, comments, and queries in a chat interface or via voice technology. They employ artificial intelligence (AI), automated rules, natural language processing (NLP), and machine learning (ML).
After all, asking a chatbot for information about a product or process is much faster than sifting through hundreds of pages of documentation. Alternatively, rather than waiting for an IT support person to arrive at your desk, contact them to run virus scans.
What is Business Chatbot?
Conversational robots that are programmed and designed to improve business efficiency by automating routine tasks are known as Business Chatbots. They enable people to interact with digital devices in the same way that they would with a natural person.
Business chatbots are mainly used to enhance customer experience by offering low-cost, 24/7 customer support. Businesses are also using chatbots to assist internal customers with knowledge sharing and routine tasks.
Chatbots for business can also improve customer interactions by requiring less human intervention. It can respond to repetitive queries automatically and even scrape your website for information needed to answer more complex questions. Using different types of AI chatbots for businesses to automate the process of responding to queries allows your team to provide a more consistent experience.
Chatbots can help your business in the following ways:
- Increase your sales.
- Customer service should be automated.
- Task completion.
Why Chatbots are important for Business?
The global chatbots market is expected to grow at a CAGR of 20.0% between 2022 and 2028, from USD 1079.9 million in 2021 to USD 3892.1 million by 2028. Consumers search for businesses online and prefer one-click solutions to endless searching. As a result, businesses are integrating websites with chatbots to provide a seamless customer experience, fueling the growth of the chatbots market.
Websites with chatbots generate more qualified leads and convert at a higher rate. Businesses can gain repeat customers and gather detailed user insights. Business chatbots are an excellent example of how to learn the proper way to respond to questions. With more interactions, it becomes increasingly effective without the need for additional coding. And, in practice, each conversation improves on the previous one.
Chatbots are used by businesses registered on social media platforms such as WhatsApp to improve customer service and collect relevant data and quality leads. A large number of businesses send automated messages to their customers every day. Individuals also send such messages to friends, coworkers, and family members. WhatsAuto has a big part in helping businesses on WhatsApp, so much so that WhatsAuto reached 10 million users recently.
Bots are also used to make shopping recommendations and to answer users’ questions about products or services. The chatbots market will benefit as the number of platforms and accounts that use AI chatbots grows dramatically in the coming years.
The growing demand for chatbot software and services as websites, social media platforms, and mobile applications become more prevalent will drive the global chatbot market forward. During the forecast period, the market will be driven by the demand for intelligent customer engagement, benefits such as time and cost savings, and the ability to offer personalized bots through AI integration.
How Businesses Use Chatbots
Chatbots are an excellent resource for improving the customer journey and providing shoppers with value-added assistance that encourages them to purchase new products. According to chatbot performance research, 77% of successful businesses that generate leads with chatbots are online stores.
Businesses are using chatbots to serve both internal and external customers and leads:
1. Customer service and support
By putting an AI chatbot on your website or using a call center app, you can direct customers to the chatbot first to understand and solve their problems. Chatbots can easily handle their routine queries. If human intervention is required, chatbots can direct users to customer service agents.
2. IT service support
Chatbots can be programmed to troubleshoot the most common issues that employees encounter when utilizing IT infrastructure. Chatbots can handle issues like outage alerts, knowledge management, system status updates, password updates, periodic scans, and so on. They also encourage self-service and automate processes to save time and mental space.
3. Enterprise support
Chatbots can be programmed to answer employees’ most frequently asked questions about any aspect of the business process. Conversational chatbots can evolve into employees’ personal digital agents over time and repeated use, improving their overall working experience.
4. Automate sales
Chatbots can help you automate sales tasks. They can assist you in guiding your customers through the sales funnel and even processing payments. Chatbots can also qualify leads for your agents. They’ll take them through an automated process, eventually pulling out quality prospects for your agents to nurture. Your sales team can then turn those prospects into lifelong customers.
5. Customer service
Chatbots can be used to manage incoming customer calls. They can handle the most common customer inquiries and, if necessary, scale up to human agents. While chatbots deal with routine issues, human agents deal with more complex issues.
How do 247ChatApp bots help Businesses?
247ChatApp for Business is an excellent tool for building strong customer relationships. Businesses of all sizes can use it to build strong connections by engaging and interacting with website visitors.
Businesses with a large customer base can benefit from automating customer service by using 247ChatApp bots, allowing customer service agents to focus on more difficult tasks and higher-value work that requires a human touch. You can deliver a personalized customer experience at scale with us. Here are some of the advantages of using a chatbot for you and your customers.
Features of 247ChatApp:
- Answer and respond to customer questions.
- Automate repetitive tasks.
- Cut down on operational costs.
- Allow customers to communicate with your business via existing messaging platforms.
- Deliver customer support round the clock.
- Schedule appointments, including phone calls, meetings, and webinars.
- Send users surveys, including customer satisfaction surveys.
- Transition to a live chat with a real human.
- Manage thousands of conversations simultaneously.
- Provide users with timely updates including receipts and order confirmation.
How can you use 247ChatApp for Business?
According to Chatbots Magazine, chatbots can reduce customer service costs by 30%, with a potential savings of $23 billion in the United States. With the help of social platforms, 247ChatApp business chatbot can be widely used across various industries such as marketing, healthcare, education, and so on to automate business functions (such as customer support and sales) and deliver a personalized customer experience (Facebook, Instagram, WhatsApp, etc).
Let’s look at what services 247ChatApp offers to help you complete business tasks more efficiently and with less human intervention.
1. Feedback Collection Bot
Customer feedback is the heartbeat that drives change in organizations and domains. For simple support queries, 69% of customers prefer to communicate with chatbots. Chat is now the most popular way for businesses and customers to communicate. The Feedback Collection Bot can be extremely useful in the following situations.
- Receive feedback in an unusually large number of places?
- Do you want to reach out to customers through specific channels?
- Do you want to know which features are beneficial?
- Do you require real-time monitoring of the performance and quality of your customer interactions?
2. Lead Generation
According to Juniper Research, by 2023, chatbots will help the retail, banking, and healthcare industries save $11 billion on customer service inquiries alone, saving over 2.5 billion hours. A lead generation chatbot is a bot (AI NLP bot or rule-based bot) that is designed to identify potential customers, pique their interest in the company’s products or services, and/or cultivate a relationship with them. Such bots market in a conversational manner, collect client information and provide business or product information.
It aids you in:
- Higher Conversion Rates.
- Increased Engagement.
- Tailored Experiences.
- Real-Time Reactions.
3. E-Commerce Bot
Post-sales customer service that is timely and effective is critical in developing a long-term relationship with a customer and driving repeat purchases. In this regard, eCommerce chatbots are a valuable asset to online retailers.
The length of time it takes to reach a customer care representative via traditional support channels such as phone and e-mail is a major source of customer annoyance. eCommerce chatbots address the issue of long wait times. They are not bound by ‘office hours and are available 24 hours a day, seven days a week to resolve customer queries and issues.
eCommerce chatbots are the ideal tool for facilitating ‘conversational commerce,’ or the use of conversational interfaces (online messaging, chatbots, voice assistants, etc.) to provide customers with an enhanced shopping experience. Conversational Commerce combines the convenience and efficiency of eCommerce portals with the personalized service that customers would receive in a physical store.
3. FAQ Bot
FAQ chatbots are bots that are designed to answer common questions about a product or service. These chatbots are frequently used on websites or in customer service applications. Their ability to automate can relieve labor-intensive tasks such as answering repetitive questions.
Here are five beneficial reasons to snag yourself a bot.
- Save Time and Labor Costs — By automating common questions, your team will avoid having to respond manually.
- Avoid Human Error — By only responding to questions based on the information you’ve provided. So, if that information is correct, they will communicate it to your customers.
- Multi-Language Support — Chatbots are often programmed to speak multiple languages, which can increase your customer base.
- Increase Your Sales — By programming your chatbot to respond and then direct your customer somewhere, they might be interested.
- Increase Your Response Rate — Because it is automated, your response rate will skyrocket. People love instant gratification, such as having an answer on the spot, and this love will spread to your brand.
Business Chatbots are the Future!
Chatbots, like all AI tools, will continue to evolve and support human capabilities. When routine tasks are completed much more efficiently, people are free to focus on more creative, innovative, and strategic activities. Business chatbots are excellent for handling simple customer inquiries and automating business processes. They can provide basic information about your products/services and answer common questions. It allows your customer service team to handle more complex inquiries.
Wherever you are on your business journey, using chatbots can help you improve customer engagement, expand your customer base, qualify leads from the start, and easily expand to global markets. With so many benefits, it makes sense to begin using chatbots for business growth right away. If you want to reduce shopping cart abandonment rates, improve customer service, or simply increase sales, 247ChatApp business chatbots are a great way to get there.
Sign up for a 14-day free trial of 247ChatApp today!