How are businesses winning with chatbots and AI?

Are chatbots adding any real value to businesses?

If you were to ask this question to a business person a decade ago, you would have witnessed a look of surprise and confusion. But today, ask anyone about their experience with a well-built professional chatbot and you’ll see a smile travel from one side of the face to the other. That’s the exact kind of impact that chatbots are creating for businesses. To name a few biggies, Nitro Cafe, Coca Cola, Marriott, among others are receiving huge returns with the help of their chatbots. So, what all are the industries in which chatbots are winning? Or shall I ask, which industries are winning with chatbots and AI?

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How are businesses winning with chatbots and AI?

Conversational chatbots are allowing e-commerce and online marketing businesses to talk to their customers even after they have left the platform. Traditionally, it wasn’t really possible to track user data and engage them the way they want. But now with the coming of chatbot technology, times are changing and they are changing fast.

We’re looking at chatbots as a better substitute for emails, and why not? Even though the cost per email can be quite beneficial, there are cases where businesses have even better solutions. Conversational chatbots have higher open rates and click-through rates, all while receiving a much better response rate than email marketing campaigns. Brands are using  AI in email marketing to facilitate prompt decision-making. So, there’s no doubt that chatbots are better at pushing leads towards the bottom of the sales funnel so that they convert faster.

Further, chatbots can easily replace the manual process of lead segregation. Bots already have the information about the lead so they can make interactive and personalised conversations. Separating leads to different parts of the funnel will help in expediting conversions.

Moreover, more than customer management businesses must focus on relationship management. Through the medium of chatbots, businesses can keep a record of customer-chatbot conversations and focus on improving these interactions over time.

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According to a report by McKinsey, businesses save as much as 30% on customer support costs by deploying chatbots instead of employing an entire customer support team. With your own business chatbot, you can-

Your chatbot would be your help desk for customer support at providing solutions. You can even upload all your FAQs along with suitable answers to make sure that the chatbot is 24X7 responsive.

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P.S. read our blog to learn how to train your chatbot instantaneously with DocuSense

HR bots have an interesting role to play in recruitment and human resource management. They don’t only contribute towards reducing costs greatly but improving employee engagement as well. Especially at a time where most of the HR systems are outdated, slow and mechanical chatbots are now evolving as the most advanced hiring software that can manage the entire employee lifecycle – Recruitment, Pre-Screening, On-Boarding, Training & Development and Retirement.

Here’s what the HR and Recruitment chatbot will manage-

Hence, hr chatbots can automate and manage the entire employee lifecycle.

What do you need a personal assistant for?

Basically, all the manual work you avoid doing. Wouldn't you rather focus on thoughts, ideas, creativity, and decision-making. So, why not use a chatbot to take over these tasks while you explore your new-found freedom?

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Conclusion

Stories, interactions, rich messages and continuous support are what make chatbots addictive for customers. As a result, you must focus on chatbot training and for that, you need to ensure that you are up-to-date with what’s latest in the industry. If you as a business don’t invest in chatbot technology, training and improvement then you must brace yourself and see your loyal customers departing from you and going towards a competition. I am sure that’s not something you want or look forward to.

So, if you are trying your hand in chatbot building or are new in the industry then don’t shy away from signing up with Engati. We will help you schedule a free demo where you will discover how easy it is to build your own business chatbot. However, if you require further assistance then we’ll let our in-house team help you with it.

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Secure a win by automating your business with the help of AI-powered chatbots. Register with Engati for free and reimagine the impossible!