The last few years have seen a rapid surge in on-demand messaging that has shifted consumers’ way of communicating with brands. To provide superior customer service, more and more businesses today are integrating chatbots into their processes.
In specific industries where high-volume customer interaction is at the center of the business, such as banking, insurance, and healthcare, chatbots have been complete game-changers. They help save over 4 minutes on average per customer inquiry, compared to the executives answering the calls, with a high success rate per interaction.
case study:
KOTAK banks and securities use the chat bot integration on the company’s website named as 'KAYA' the virtual assistant. used for navigating the website. this has been a huge revolution for the company. the feed back market research says that the 85% of customers are happy with the services instead of waiting on a call of toll free and be there in the token list for hours sometimes.
on an average the company saved 10% of the consumer drop and in terms of good human interactions with hasle free method.
There are numerous benefits to using chatbots, and it largely depends on how businesses and stakeholders can leverage them to enhance the customer’s experience.
Here are some of the top benefits of using a chatbot to improve your business efficiency:
Contrary to the popular belief that a chatbot’s main benefit is just answering queries and offering customer support, chatbots can provide value-driven, contextual support that can assist businesses significantly.
An AI chatbot uses the data to provide a personalized experience to the users. These chatbots go much beyond just answering pre-programmed questions that every customer will experience in a precisely similar way. This is what kotak did.
and surely one of the main advantage is it saves a firm from investing on human resource and training them.
One of the distinct advantages of chatbots for businesses is that they offer a wide range of applications and are not limited to the single-use case of answering customer questions.
Some of these everyday use cases of chatbots include –
Marketing: Chatbots can be used for multiple marketing activities, including lead generation, data collection, increased custom interaction, and product consulting.
Sales: Helps in the qualification of leads and supports throughout the sales funnel.
Customer Service: Assists in answering FAQs and offers dedicated support in case of problems.
IT Service Helpdesk: Offers support for internal or external service desk applications.
THE disadvantge of the chatbots are. the revolution of the AI creates a scope of unemployment like the BPO's lose their job due to automation of consumer interaction automation.
Top comments (1)
I totally agree with you @bharadwaj_ysn_0ac4440f47a .
Chatbots are extremely helpful for businesses. We have been using LiveChatAI and it reduces our burden so much.