Businesses always look for ways to improve customer experience, efficiency, and scalability. Among the powerful tools used for this purpose are AI-powered assistants, otherwise known as chatbots. They can automate conversations, answer queries, and enhance customer engagement without forcing you to boost your payroll by adding more workers.
According to one source, the chatbot market was worth $15.57 billion last year. It’s on pace to climb to $29.5 billion by 2029, due to developments in artificial intelligence and machine learning.
Meanwhile, it notes that chatbot statistics suggest businesses can save as much as $11 billion and close to 2.5 billion hours by leveraging the power of chatbots.
Statista adds that 82% of consumers last year said they would go with a chatbot over waiting for a human customer service rep to take their call.
And 96% of surveyed shoppers said more businesses should roll out chatbots over traditional customer support services.
So, it’s clear that consumers are open to chatbots and recognize the benefits of using them. Consider these five reasons your company should consider using chatbots for customer service.
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1. 24/7 Customer Support
One key benefit of using chatbots is you can offer customers round-the-clock customer support. These AI-powered assistants can be available whenever consumers visit your online storefront.
Your customers will get what they want when they want it, and you won’t have to spend more than you can afford to have human customer service reps available 24/7.
For many consumers, round-the-clock service isn’t just nice to have — it’s a must. One source says 43% of consumers — around four in 10 — expect customer service 24/7 from online sellers. And 36% believe customer service should be offered for around 12 hours daily, seven days a week. One way to meet this expectation is to “employ” chatbots.
2. Instant Responses And Faster Service
Another reason your business should consider using chatbots is that they can offer instant responses to common consumer queries and facilitate faster service. Unlike human customer service professionals, chatbots can process multiple queries simultaneously.
So, your customers won’t have to wait on hold for longer than is ideal while listening to elevator music. They’ll get fast service. By reducing wait times, your company can contribute to better customer satisfaction.
3. Improved Customer Engagement
Yet another reason to roll out chatbots is that doing so can lead to better customer engagement. Since chatbots facilitate instant responses and require consumer interaction, chatbots can keep people engaged. That can potentially lead to better conversion rates.
4. Cost Savings On Customer Support
Chatbots Magazine reports that chatbots can possibly lead to savings of $23 billion in the U.S. since these AI-powered assistants could automate 30% more of the things done by employees at contact centers.
While you don’t want to be understaffed, you can use chatbots to reduce labor costs. You can do so by automating repetitive tasks so that your company can better allocate resources.
5. Scalability For Business Growth
Another reason to get chatbots is that going this route can help as your business scales. If you’re growing and need more customer service reps or tend to see spikes in service during certain seasons, chatbots can be deployed to meet the heightened demand.
These are some reasons to consider chatbots for your company. AI is here. How your business responds to it can determine whether you’ll be competitive or lag behind.
Whether you use generic chatbot tools or go a step further for custom AI software development, you can win with AI. That’s a win-win for your business and your customers. So, it’s worth the investment.
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