The Seven Wonders Chatbots Can Do For Businesses And Users

Written By : Akshada Benke
Date Posted : April 20, 2021

According to Gartner, 40% of physical experience-based businesses will have better financial results and be able to beat their competitors by adopting the paid virtual experiences, by 2025.

Well, gone are the days when humans would fear the robots uprising. Artificial Intelligence is proving to be a blessing for the entire human being and one of the most powerful technologies that should nothing to be afraid of. Lately, not only companies nor the users but also the employees seem to be loving AI chatbots in business for the right reasons and willing to embrace these smart digital companions. And thus, it’s no surprise that organizations are leveraging intelligent virtual assistants- AI chatbots in businesses as the smartest way to engage and interact with customers for this very reason.

But here are the top 7, which are more like wonders chatbots are doing for companies and users:

1. 4x Revenue: Growth that will leave you overwhelmed!

Chatbot application in the business can help not only reach more prospects but leave customers happier and coming back for more. AI-enabled chatbots are trained to shape customer journeys by taking care of their needs and routing them to the desired solution to enhance user experience tirelessly. They are users’ companions throughout the journeys, right from the initial contact to the post-sales and repeat purchase.

The best suitable and actionable solutions, what else would a user crave?

2. Leads: Matters when meaningful!

Intelligent AI conversational bots are capable of identifying interests, likes, dislikes, preferences through a personalized and more engaging approach which can bring up 10x more effective and meaningful leads. Also, one of the key reasons that bots have been so popular amongst users is that there is no learning required to use this intelligent means of communication. So, no wonders that from being sceptical of automation and artificial intelligence not only companies but also users are happily welcoming chatbot applications in business as the next big revolution in the digital world.

3. Reduced costs: Like never before

According to Juniper Research, businesses and consumers can save up to 2.5 billion hours through the use of chatbots by 2023 and foresees cost savings of about $8 billion by leveraging AI chatbots by 2022.

An intelligent AI chatbot, a true one-stop solution can solely streamline all the business operations and needs without increasing market spend. An efficient bot can answer up to 80% of routine questions and reduce customer service costs by about 30%. From buying an insurance policy online to booking an appointment with a dentist, how companies are using chatbots is truly commendable. Smart conversational AI has become an essential tool for any fast-growing business, no matter whether it’s a start-up company or a large corporation.

Studies show that chatbots will help businesses save more than $8 billion per year by 2022.

After all, at the heart of making a profit is the desire to achieve business goals without increasing marketing spends!

4. Customer experience: Wow and beyond!

Businesses revolve around their customers and so do Chatbots! These smart virtual assistants have seen huge growth and acceptance in almost every business sector ranging from small companies to big firms in terms of providing an enhanced customer experience. This also will help businesses increase sales and customer loyalty. No matter which shape and size company you belong to, a smart AI chatbot will help you provide improved customer services and experiences & drive ROI like never before!

No waiting time, 24/7 availability, omnichannel presence, multilanguage support, and most importantly, personalized and sentiment-based interactions are the key benefits that make chatbots a game-changer.


5. Customer engagement: Creating walking advertisements!

How about starting customer engagement on the right foot?

Accompanying customers throughout their journey could possibly be the key to build a strong and long-lasting relationship with them. An intelligent virtual assistant can help the brand better connect to customers while saving time and streamlining costs for organizations. Having an AI-powered chatbot for the organization will help companies increase brand reach and enhance the customer experience to redefine customer engagement in a true sense!

6. Aid to employees: Hard to believe? But that’s what is a new normal!

According to Salesforce, 64% of agents who use chatbots are free to spend their time solving more difficult and complex problems.

One of the biggest benefits of leveraging AI for business is that it can take care of mundane tasks so that employees can focus on more complex issues, creative solutions, and more valuable work. Also, the most frequent and basic queries can be handled by FAQ chatbots effectively.

Well, the good news is that chatbots are doing good for businesses, their staff, and the customers of course!

7. Save an ample amount of time!

True currency in business may not be money, but time!

However, to increase revenue and generate profit, pressing people to work faster certainly should not be the way. And this is where these intelligent virtual assistants come into the picture for their impact on businesses. Chatbots can empower a business and save time significantly by providing the primary level assistance that analyses and filters a customer request before it gets routed to the team. Chatbots can help businesses improve efficiency and deliver a high-quality output by providing quick responses and relevant solutions to customers for basic queries.

Thus, bots can save a lot of operational costs, efforts, manpower, and most importantly time.

CONCLUSION

There are indications that the use of AI-powered chatbots is likely to grow rapidly in the coming years across multiple device surfaces by almost every business sector. Messaging platforms that have a voice and text-based interface are becoming consumers’ most preferred way to interact which has brought about a major paradigm shift in consumer wants and preferences and thus, the time is ripe for businesses to re-think and re-imagine Customer Engagement. Although there are several chatbot app development companies available in the market today, make sure that you go for the expert AI chatbot solution provider having solid expertise in all the current market trends.

Engagely.ai is an enterprise-grade-AI-driven-Conversational Customer Engagement platform trusted by 100+ renowned enterprises across the globe.

With its unique action-intent engine, Engagely is able to understand customer intents to drive superior engagements across all the channels in 120+ global languages. Engagely has a track record of helping clients acquire more leads, optimize revenues and reduce costs significantly. Enabled with the No-Code platform and advanced NLP, Engagely.ai integrates seamlessly into clients' existing systems in a short time to provide an enriching experience to the business users.

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