How Chatbot AI Help Grow Your Business in 2023
Say you just closed a deal with the developer or manufacturer company on your aspired project but what if you find out that the person you have dealt with on the other side is not really a person but a Chatbot AI? Yes, talking robots aren’t something new that needs to be introduced these days. The technology of Chatbot Artificial Intelligence (Chatbot AI) is increasing both the power and growth of the entire automation process over the last few years.
According to Gartner’s forecast, over 50% of medium and large enterprises will make use of chatbots in their business operations by 2023 onwards.
Companies like Pizza Hut, Sephora, and Whole Foods are giving a major focus on developing AI chatbots to automate their order-taking process and to ensure better customer service. So, you need to take it seriously if you’re running a business whether it’s B2B or B2C. Chatbots AI is becoming the next final move for businesses especially eCommerce.
In this post, we have described how you can take this advantage and also what you should know about AI chatbots with recent examples.
AI And Its Increasing Growth
A chatbot is nothing but an automated technology. It’s a customized computer program that conducts conversations with the customers in spoken, written or both. Developers are trying to design it in a way that people couldn’t understand they are talking to intangible robots!
Check the effectiveness of customer service chatbots over a few years.
The term chatbot comes from the ‘chatterbot’, coined by inventor Michael Mauldin in 1994. Michael created Julia, the first chatbot. Chatbot AI is also recognized by many other terms like the ‘bot, talking bot, intelligent chatbot, conversation bot, interactive agent, or virtual talk chatbot’ etc.
Artificial intelligence makes it possible to process data by discovering certain patterns in the given data. These chatbots are able to apply the patterns and provide required data in similar or slightly changed use cases. This ability of the talking bots is recognized as ‘intelligence’.
Using this capability the Chatbot AI performs communicating tasks, solves different problems, and manages business information without any human intervention. The more smoothly and accurately a chatbot could perform, the more it recognized as intelligent and powerful.
The Evolution of Chatbots
It’s over 50 years now when this journey was started. Eliza was the first developed bot that released in 1966. Chatbots have come a long way then. Today, in some cases, these chatbots are becoming more capable to apply machine learning and providing accurate data almost like human beings.
Check out this 50+ years journey of these chatbots in below infographic.
You can check why and how is the popular social sharing platform Facebook investing and researching Artificial Intelligence to increase better user experience.
Top 4 Ways Chatbot AI Can Help You Grow Your Business
These days we are moving to an automated system faster than ever. From personal communications to making buying decisions, all are just one click away now. If you want to ensure powerful results from your business, the short simple solution is automation.
So, how would you be benefited from Chatbot AI? Check these 4 awesome ways.
More Sale with Chatbot AI
To make a sale, you may follow a wait-and-see process like many others. Applying a sales funnel, investing a lot of money when you get some traffics; you can’t do much without waiting to see when they make a purchase. Your website, landing pages, contents, ads all are only for encouraging them!
Now think, if you have an AI-powered marketing chatbot (in a form like CTA) in your landing pages that ask people to talk to them instantly about what they want and help to inform them how to find their desired products/services and even redirect them to your payment methodology- isn’t it better than your running process?
Yes, AI chatbot can make all these tasks and can help you get sales! Check some awesome chatbot examples from the top brands.
Bots Can Be Better than Converting Emails!
E-mail is still one of the best converting tools out there. But if you keep all your eggs in the basket of e-mail marketing, that wouldn’t be a wise decision. Since you are doing e-mail marketing, you know that opening and especially click-through rates in the direct mailing are decreasing day by day. It’s obviously a bit alarming.
You can take the help of a chatbot AI to get some of your desired results. In spite of asking someone for his/her e-mail, if you can build a community of your running and upcoming (future) users by a specially designed solution or the available solution like Facebook Messenger and offer a solution directly anytime instantly; it will surely affect your sales and make your customer service far better.
24/7 Real-time Customers Service
There is no doubt that customer service is the most significant thing you need to consider these days. Your sales, business growth, and future path all are mainly dependent on the way you manage your running customers.
If you can just double your sales by ensuring a real-time response to your customers.
And you know that a customized AI chatbot can help you the best by providing instant customer feedback.
Make Savings on Operational Costs
Every company needs to hire skillful employees to maintain their business process efficiently. On top of that, you need to pay them a hefty salary as well. As your business grows, you will require to hire more resources to run your business operations smoothly. This will surely increase your overhead expenditures. But what if you can at least save the employee hiring and operation cost of interacting with your customers?
This is now possible with the implementation of Chatbot AI in the business operation system. The investment behind it might feel a little too much in the beginning but as you start to save money by not requiring to hire new people every year for managing the customer support, you will find the investment well worth it.
So in order to save big on the operational costs of the customer management system, all you will need to do is integrate the chatbot technology powered by artificial intelligence. The integration will sufficiently enable you to take customer queries or feedback and then help you to take action on them faster and more effectively.
But if at any point in time, the chatbot fails to reply to some of the complicated client’s queries, there is always the option to transfer the communication log to a live agent for better customer service.
Bonus Point: Make Your Team More Productive
No one likes doing repeating work over a long period of time. If a person’s job indicates repetitive tasks, he or she can make mistakes. But chatbots don’t plus it doesn’t feel bored of doing the same thing over and over again.
Chatbot AI automates repetitive operations and free people from the recurring schedule. So, these solutions allow human workers to perform more enjoyable and productive tasks and be happy with their jobs.
A Long Way to Go for Chatbot Ai
It is just the beginning as more and more business websites are implementing the latest technology of chatbots in their ecosystem. Top brands around the world are getting more automated than ever in terms of their business management. So it safe to say Chatbot AI is becoming the next big thing for even small to medium businesses now and in the near future. So, what should you do?
While sales are the main objective behind any business, you shouldn’t hesitate to go forward with solutions like Chatbot AI. You can start with free solutions like Facebook messenger etc. and then try to develop a customized one. You will surely get a win at the end of the day.