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Top 5 Ways AI Chatbots Can Boost Your Business Profitability

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According to Ubisend, nearly 35% of consumers tend to see more companies using chatbots. And why not? Don’t you want your target audience to connect with your business better and faster than they do with your competitors? Chatbots will help you do so! After all, chatbots are computer programmes capable of emulating a human conversation through texts. Your target audience will not be able to distinguish the texts and replies of a bot from those of a human. Simply put, a perfect chatbot is a fantastic way to improve your business profitability.

You can use the chatbots to make your clients feel valued. Use the bots to ask them about the weather, or if they would like to order a pizza or about their flight status, etc. Their applications are limitless. Use them wisely in your business, irrespective of its size, and watch a sharp increase in your business productivity.

Top 5 Benefits of AI Chatbots To Boost Your Business Growth

I went through piles of assignments, surveys and research papers to narrow down the ultimate benefits of chatbots in business. Sephora noticed a nearly 11% increase in their number of appointments for a makeover after including chatbots. Nitro Café and Asos also noticed a 20% and 300% increase in their sales respectively after the incorporation of chatbots. In my opinion, chatbot is a necessity if you want to make it big in the market. Let’s check out the top five benefits of AI chatbots that guarantee the profit of your business.

  1. You can generate quality leads in no time.

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Image source: https://botmywork.com/

Owing to the digitalisation of ‘almost’ everything, now you can sell across your website and different social media channels. AI chatbots can be the icing on the cake. It will let your potential clients interact with your business through several messaging platforms like Facebook Messenger.

Say you offer essay help to students on your website. Your main motive would be to persuade the visitors to go to the order page and click on ‘Place Order’, right? Chatbots can help you with that. The bots will guide your potential visitors through their different buying stages and finally recommend them to make a quick decision. When you make things easier for your website visitors, there are high chances that you will be able to generate quality leads for your brand.

  1. Your clients will enjoy 24*7 customer support

According to Deloitte, 62% of companies consider customer experience to be a strong competitive differentiator for any brand. Therefore, you need to make sure that your customers are attended to whenever they need assistance. Chatbots can help you offer round the clock support to your target audience easily.

You shouldn’t underestimate the power of AI-based chatbots. You can program the bots according to your preference and requirements such that it can provide your customers with immediate answers. Good customer service can help you gain positive feedback in regards to customer retention and satisfaction. You can even train the bots with general FAQs and answers. Therefore, the bots will adopt the questions frequently asked by your customers.

  1. You can save a lot of customer service costs

Reports suggest that every business has to face nearly 265 billion customer request in a year. Businesses need to spend almost $1.3 trillion to attend to those requests on a daily basis. What if I tell you that chatbots can help you save the cost by 30%? Yes, it’s true.

Chatbots are like an investment in a business. You don’t have to spend unnecessarily on extra agents to get the customer service done properly. Install a proper bot on your website and your clients can get quick answers to their queries on the go. You can even scale your chatbots during the peak time of your business without having to spend extra money. Therefore, chatbots can definitely help you bring down the expenses and boost your revenue to a whole new level.

  1. You can engage with your clients easily.

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Image source: https://chatbotslife.com/

In research conducted by Bain & Company, it is said that businesses are able to elevate their revenue by almost 20% to 40% if they engage with their target audience on a daily basis. You can opt for chatbots if you want to create effective customer engagement for your business.

Customers always tend to look for personalised answers to their queries. Your chatbot can analyse your customer responses and provide the right data to them instantly. Most importantly, chatbots are able to provide real-time conversations to people. Thus, it’s okay even if you don’t have a ‘real’ 24*7 working team. Just activate the chatbots and offer the assistance your target audience wants.

  1. You can gather any amount of data, security and feedback

From a competitor’s analysis to customer’s concerns, you will be able to gather all sorts of information through chatbots. You can use it to fetch a mountain of secure data, make them quite readable and analyse them to the fullest for your benefit. You can talk to your developer and ask him/her to customise the bot accordingly.

You may have certain problem areas in your organisation that may stop the business from growing. You can identify the problems and take the right measures to curb the issues. The bots can also help you understand what’s on the mind of your corporate trainees. Every time a trainee interacts with the chatbot, it records feedback based on that interaction. Take a look at the feedback, and you will know everything about your trainees or other employees.

Chatbots aren’t mere data-driven AI-programmed tools. These can also be an important asset for your business. You can not only execute your daily activities within your organisation in a simpler and faster way, but you can also generate quality leads for the business. All you have to do is leverage the bots and make them serve the right purpose of boosting your business growth.

Author Bio:

Henry Howkins is a part-time web developer at a reputed firm in Australia. He also offers help with apa referencing to students at MyAssignmenthelp.com. Henry loves to travel on the weekends.

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