What is Chatbot? How is it Beneficial for Businesses? 

by pankaj

In a digital era, where almost every business is striving to expand its digital footprint, it is now essential to manage the customer base, generate qualifying leads and serve to consumers’ query. Introduction of chatbots is an easy and inexpensive form of digital assistant that can interact with the customers and solve their queries. Chatbots work beyond a digital assistant tool. They can help businesses save close sales, connect with customers, and save money as well to compete in a fast growing digital competition. 

What is a Chatbot? 

Chatbot is a software tool that uses Artificial intelligence and Natural Language Processing to assist customer queries and send automatic responses using simulating human conversation. The AI base software is so intelligent that these bots can even predict the intent of the customer, and send recommendations even before they ask the entire query. 

Very common examples of conversational chatbots are – Apple’s SIRI and Amazon’s ALEXA. Apart from these Facebook messenger’s chatbot, Social media bots, ChatGPT, Google Bard, SMS chatbots are the most commonly used.  

For customer service assistance, chatbots can be a less-time consuming when a customer seeks instant reply for their queries. Similarly, for the sales representatives, chatbots are a useful tool collecting information on prospects so as to funnel and sort qualified leads.

How Chatbots are Used?

Chatbots can be implemented in several areas of small business operations, across multiple industries. Advanced software applications for chatbots are emerging at a rapid rate. For businesses, chatbots are commonly used in the following ways: 

Chatbots in Sales

Chatbots are capable of gathering information on prospects, recognizing qualified leads, andautomate outreach processes. A bot can chat with customers, and provide quick responses to their sales related queries. Moreover, chatbots are helpful in maintaining 24/7 customer engagement, optimize conversion rate, increase sales agent’s productivity etc. 

Chatbots in Customer Service 

Customer service chatbots are a new revolution in this digital age where customer service companies are adapting. Chatbots are super efficient for businesses to enhance their customers’ experience by replying quick replies, thereby allowing sales representatives to manage more complex queries. Chatbots can be mapped out to perform competitive analysis. Also, chatbots can also be used in conducting surveys, and gathering customer feedback in a uniform manner. 

Chatbots in Marketing 

Chatbots have the potential to interact with customers on websites, and increase sales using conversational marketing. Chatbots play a crucial role in customer engagement on business websites, and can interact with existing and potential customers. They can also forward leads to marketing departments, all with no human mediation. 

Benefits of Chatbots? 

Cost savings 

With a furiously competitive business landscape today, businesses today seriously require on the go customer service to keep flourishing. Implementing chatbots allow organizations to manage enormous customer queries.

Contextual yet AI-driven Support 

Apart from just answering customer queries and offering customer assistance, chatbots are capable of providing contextual support that can support businesses outstandingly. An AI chatbot utilizes data to provide personalized experience to users. The chatbots are way ahead of responding pre-programmed queries to consumers in a more accurate way. 

Analysis of Customer Data 

Chatbot analytics allows businesses to analyze how sales are generated and how audiences are engaging with the business services or products. Additionally, chatbots are approachable to serve clients on almost every platform. It’s easy to integrate a chatbot to multiple platforms including the IT infrastructure. 

Better Lead Generation 

A chatbot is equipped with software which is capable of asking relevant questions related to customer concern. It ensures meaningful conversation with human queries to get higher conversational rates. Chatbots can also help in qualify leads based on KPIS, resources, and budget. This will help you deal with time taking leads.  

To Wrap Up 

Technology is evolving at a reckless speed enabling businesses business driven opportunities to promote their products and services. To improve customer services and their inquiries, chatbot is the prominent technology that cannot be ignored in today’s fast paced competitive age. Chatbots are the industry’s prior needs and will serve the businesses with more personalized and tailored services to individual users. For a superior consumer experience, chatbot is all set to drive your business to the new heights for sure. 

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