Written by Shamshad Azam
Manager - Business Analyst at Royal Cyber
AI Chatbots are intelligent and quick-to-respond representatives on a website chat that ensure better customer experience, supporting businesses in numerous ways. Chatbots can perform with commendable precision, so companies are increasingly engaging them to assist customers and navigate them effortlessly through websites, be it directing them to the relevant departments or answering simple questions.
Most Chatbots attempt to mirror “chat app patterns.” which model a practical path to engaging in conversation. And so, like humans, the bots engage in open-ended conversation, assessing the most important bits of the discussion to figure out what a customer is looking for and then delivering a logical response promptly.
Depending on the industry, Chatbots are programmed to respond to the primary keywords and customer queries. And so, there are industry-specific bots, for example:
Ecommerce bot – Assists to order clothes, electronics, furniture, etc.
Event reservation bots – Makes restaurant reservations, doctor appointments, etc.
Personal bots – Manages personal to-do list, grocery list.
Travel bots – Books flights, makes connections to a local tourist.
Healthcare bots – Helps patients get doctors’ information without calling the customer care helpline, healthcare advice & symptom checks based on accurate sources
Banking bots – Checks accounts, updates details, or reports lost card.
The multi-level process involved in recruiting and maintaining a customer service agent is expensive. The AI-integrated Chatbots are offered as a standalone application for tier 1 customer service, efficiently reducing human intervention, thus revolutionizing business, contributing to better customer care and agent productivity. And as per the recent researches, by replacing humans with Chatbots, companies can save up to $8 billion per year.
Reduce Labor Cost: Chatbots don’t need breaks, sick leaves, or holidays, hence reduce the cost of resource replacements up to 30% - 50%.
Improve Efficiency & Reduce Operational Cost: Chatbots are very efficient in helping customers find answers to queries, resulting in a lesser number of incoming calls, improved efficacy, and lesser operational cost..
Reduce Training Expenses: Chatbots don’t require training, thus reducing the training expenses incurred while hiring a new employee or adding a new product.
Long-Term Advantage: Chatbots are capable of serving more customers without additional overheads. It can help curtail inbound inquiries by up to 42% and mostly delivering solutions on the first call itself.
Boost Your Revenue: Many organizations are using Chatbot to bring more leads. Foreseeing the customer needs, Chatbots can increase upselling by alerting customers with discounts and promotional offers. Also, viewing the customer query, Chatbot can offer a customer with product suggestions.
Better Customer Experience Answering the same questions repeatedly can adversely affect the performance of even the most experienced representative, resulting in an unpleasant customer service experience. And so, replacing the human representative with a bot to handle simple queries would help provide better customer experience.
24/7 Availability: Chatbots assure 24/7 service availability, thus handling global customers effortlessly.
Essentially, Chatbots are regarded as the future of the marketing and sales industries. Even when we cannot completely eliminate human intervention, Chatbots would help to reduce it, cutting down on the cost involved.
What Royal Cyber offers is cognitive and robotic automation capabilities for your business--enhancing the customer experience, helping to reduce cart abandonment, thereby increasing sales contributing to steady growth in business. With our profound expertise and combined partnership with leading technology providers, we can extend the visibility through the entire ecosystem. For more information, you can email us at [email protected] or visit www.royalcyber.com.