How a Chatbot can help grow your business Our Insights Dave Rogers July 11, 2017 As a growing business you likely don’t feel like you have enough time to work with your customers 24/7, and you’re not alone. 80% of companies surveyed by Oracle are already using or plan to use a chatbot by 2020. And it’s understandable, for several reasons. One of those reasons is that automated bots can actually help you to grow your business. Here’s how… Instant customer service Chatbots are rapidly replacing the likes of live chats and other forms of slower contact methods (email and phone calls). With the right Chatbot you can programme it to use word recognition to provide immediate customer service. It can provide concise answers to some of the most frequently asked questions raised by users. The days are gone where we queued up on the customer service line in order to get simple information, Chatbots have enabled fast, direct and less time consuming responding services. Driving sales Chatbots implemented into businesses have proven to drive more sales. Depending on your products, chatbots can provide a vast array of services. They allow you to create your own sales process, that increases customer engagement and in some cases, conversion rates. Again those chatbots with learning capacity, can provide detailed personalised content such as fashion advice based on that users preferences. In doing so they create a personal level of service that closely mirrors human interaction. Increased engagement Not so long ago Facebook launched chatbot integration into their messenger service. Companies have tremendous new opportunities to interact with consumers on a massive scale in real time. Social media users are waiting for the days to find all businesses on channels like Facebook. The sometimes unnecessary flood of information on websites can confuse and demotivate us from finding the required information. Therefore, Chatbots limit this by providing specific details we need. Chatbots are 24/7 customer support ‘friends’. A constant support with an authentic and easily accessible source makes the relationship between users/customers and businesses more meaningful and interactive. Improved performance All the functions of a chatbot discussed throughout, offer improvement throughout your business. Each service provided by a chatbot that can be implemented, provides a saving of time and money to your business. Whether it be a customer service bot, a sales bot or a social media bot, they can significantly reduce costs and increase efficiency making Chatbots highly effective in smaller businesses. However is it is worth looking at the disadvantages of a chatbot…. Non human interaction Although chatbots are designed to interact with people using AI and are quite capable of recognising and using millions of words to provide accurate answers, they are not able to provide humane interaction that we would experience in person to person interaction, leaving users to feel disconnected. Limitations to answering complex actions We have mentioned that chatbots are useful for answering some of the most frequently asked questions raised by users through recognising certain key phrases and provide pre-set responses however, they struggle to respond to complex questions and unable to carry out compound activities. Therefore, chatbots… open new opportunities for retailers to tap into the strong growth that we’re already seeing in mobile commerce. As we are still learning in terms of best practices we are not quite ready to use chatbots like we use twitter. However, I see in the not so distance future that the majority of sales by consumers will be carried out through the assistance of a chatbot. For more information on chatbots or improving your digital presence, contact Indiespring.