Guest post by Ashwini Dave, digital marketing expert.
Artificial Intelligence has evolved to become the harbinger of a shift in the business communications arena. What problems does a chatbot solve? And which chatbot use cases can be found in various industries? Let’s find out.
Why Your Business Needs A Chatbot
Here are some reasons why your business should opt for Chatbot immediately:
- You gain insights into customer behavior: With the help of chatbots, you can derive valuable insights from your customers that will be fundamental to your future business strategies.
- You’re accessible immediately: Unlike traditional customer service, chatbots are live round the clock and are not bothered even if the number of cases is high.
- It can increase your sales: Chatbots ensure that the right information and offers reach your customers at the perfect time. They can also assist and advise your customers for selecting products, thus driving up your sales. According to a survey by Intercom, companies could increase their sales by almost 67% when using chatbots.
Common Applications For Chatbots In Businesses
Apart from saving you the cost of live chat agents on all shifts, chatbots offer great benefits and opportunities in almost every vertical. And that goes especially for sales, marketing, customer service & HR. Let’s see how.
- Nurturing leads: Chatbots can communicate with customers, making more informed decisions at almost every stage of the sales funnel.
- Assisting sales: When integrated into your CRM system, a chatbot can alert the sales representative whenever they are prompted to respond — thus, automating the process.
- Collecting customer feedback: Chatbots streamline the process of collecting feedback that will further help you improve your services.
- Customer analysis: Project the right questions and recommend the best offers for the products to the customers on your website or application. This is done with the data collected from the previous conversations with the customers.
- Answering FAQs: Often, the solutions to a vast majority of customer service queries can be found in the FAQs. Yet, the customers find it convenient to use a chatbot.
- Forwarding complex cases to the support team: If the query is too complex for the chatbot to solve, customers can be redirected to the support team.
Also interesting: Chatbots In Customer Service — Everything You Need To Know!
Not many people in the HR department are fully aware of maximizing their use of chatbot technology. However, still, it’s steadily making its way back to the mainstream. The reason being:
- Chatbots can assist HR with vacation times, updating employee profiles, recruiting, onboarding, etc. They can even come in handy in helping employees become physically active and healthy by recommending and tracking their daily exercise routines.
- Support system: Employees can use chatbots to fetch answers to their queries regarding leaves and perks.
Here you can learn more about how chatbots can support your HR team.
Chatbot Use Cases By Industry
Chatbots provide different types of applications in different industries. Let us have a look at their use cases in different sectors.
Telecom companies cater to hundreds of thousands of customers at any given time and need a more dynamic means for supporting their customers. Here’s how a chatbot can help:
- Increasing workforce productivity: Chatbots can quickly take over time-consuming, redundant tasks, allowing agents to focus on more complicated issues.
- Improving customer support: Apart from answering repetitive questions and solving problems, chatbots can redirect customers to appropriate departments.
- Analyzing customer behavior: Since chatbots are likely to be used more often than phone and email support, they are ideal for collecting feedback by building interactive and engaging discussions.
Most banks, like the companies in the telecom industry, struggle to offer quality online support. In this case, chatbots can assist customers with online and mobile banking, apart from all the common issues like customers enquiring about bank branches, setting card PINs, making fixed deposits, etc.
As far as more complex issues go, like fraud disputes, the matter can be redirected to professionals.
Check out some concrete chatbot examples in the finance and insurance industry here.
The healthcare industry makes perhaps the best use of chatbots. When it comes to providing better and quicker resolutions, chatbots can come in handy during the most critical times.
Here are some of the specific use cases:
- Sharing information: Chatbots can be programmed to deliver helpful and informative pieces to the patients, including data necessary for determining illnesses, claiming health insurance, and medical procedures.
- Medical assistants: Information delivered by chatbots can help physicians who need certain information on the go, including patient details.
Retail & E-Commerce Industry
Powering retail stores with digital technologies helps them compete with existing e-commerce giants. Chatbots can help store owners make the process even easier:
- Real-time support: Retail stores that are grinding to make a name for themselves and grow their businesses are one of the sectors that can benefit the most from the real-time support provided by chatbots.
- Sales and returns: Chatbots can drive sales and returns by providing a first-class customer experience and ensuring that the satisfied ones come back repeatedly to surge their sales figure. Moreover, they can also accept returns based on set criteria without the help of live agents.
In an e-commerce business, your customers will end up navigating through dozens of pages for the right product. A chatbot serves a number of purposes here:
- 24/7 support for frequent issues.
- Engaging customers who have forgotten about or abandoned their carts.
- Suggesting products based on purchasing history.
Real Estate Industry
Real estate chatbots help the industry in qualifying leads by immediately answering queries in real-time. Apart from answering FAQs, they offer various other use cases such as:
- Arranging consultation appointments for pre-built houses.
- Promoting cross-selling opportunities with long-standing clients or helping to extend the lease on a property.
- Providing 360-degree virtual tours through the chatbot.
- Utilized as a mechanism to follow up on your leads through the medium they opt for.
- Keeping a record of all the conversations that take place with the clients in a single space.
- Scheduling a home tour and introducing the client and real estate agent.
Chatbots can help customers search for flight information, find the best options, and book tickets while making the process as seamless as possible. Upgrades related to seating and classes, along with baggage tracking and claims, can also be managed as part of a conversation. Chatbots are also smart enough to schedule itineraries.
Also interesting: How Is AI Remodelling The Tourism Industry?
Without a doubt, the technology behind chatbots is here to stay, and its adoption in every industry is increasing with every passing day. These bots are getting smarter, and their use cases are bound to yield high ROI. It is perhaps one of the best investments you can make as a growing business.
Ashwini Dave is passionate about Business, Entrepreneurship, E-commerce, emerging technology, and Digital Marketing. She is working with Acquire as a digital marketing expert. She is a free soul and adventurous scholar who spends her free time with herself and loved ones, music, as well as watching & playing sports. Ashwini is ocean addicted and on roads being a thrill-seeking traveler to get new experiences as she looks at life as our very own works of art. Connect with her on Linkedin or Twitter.