Business leaders agree that AI will redefine how business is done. The potential for artificial intelligence (AI) to increase revenue and drive business growth is enormous. It will reduce operational costs, automate and streamline processes, and fuel growth. According to a Forbes survey, marketing, customer service, and sales were identified as the top three functions where businesses can realize the full potential of AI and AI-powered solutions.
In this article, we’ll discuss AI chatbots — software programs that are capable of engaging in near human-like conversations — that are quickly becoming mainstream for businesses due to the increasing popularity of social messaging applications. These AI-powered bots have proven to be a great way to reach out to customers. They can be implemented across various business functions and industries.
Here are a couple of reasons you need to get started with AI chatbots today.
How can chatbots drive business growth?
Due to the cost benefits associated with chatbots, organizations want to know how to innovatively use chatbots for business processes. That said, there is no one-size-fits-all chatbot strategy.
For example, while traditional industries such as banks use chatbots to help customers quickly set up their bank accounts, make credit card payments, or collect feedback, modern industries such as gaming use chatbots to notify gamers about new updates, share discounts and promotional offers on videos games, or upsell additional gaming features.
Here are just some of the ways that deploying AI-enabled bots can drive business growth.
- Chatbots can automate repetitive tasks across business functions and improve employee productivity.
- Chatbots enable quick scalability without requiring a larger workforce — a critical benefit to cash-strapped or high-growth companies.
- AI enables personalized interactions, reducing customer effort, and enabling upsell or cross-sell opportunities.
- Significantly cut down on costs, previously spent on an array of tools and expanding workforce.
- With the right integrations, businesses can automate and trigger actions and conversation flows for common processes such as booking appointments, making payments, or collecting feedback, reducing the wait time for customers, and employee effort.
- They are a low-friction sales and customer support solution, are available 24×7 and can be set up with multilingual capabilities, enabling global reach.
How do chatbots improve customer experience?
Customer expectations of what counts as a ‘good’ experience of interacting with a company have been constantly rising through the last decade. With the advancements in technology, customers expect contextual, personalized support in real-time, and are unlikely to settle for less. Chatbots have a variety of real-life uses that companies are leveraging to make life easier for customers.
- Unlike traditional channels like phone or emails, chatbots can initiate conversations, offer real-time solutions, and guide customers to find solutions without having to wait in line for the next available agent.
- Other real-time channels of support such as calls or live chat require an agent’s availability – unlike chatbots, that can manage any number of conversations at the same time.
- Chatbots can be implemented to automate and therefore cut downtime and effort on transactional tasks such as updating customer information which might have previously required a multi-step process with a human agent.
- AI-powered chatbots can tap into previous interactions with customers and engage in personalized in-context conversations to deliver better customer experiences.
Top AI Chatbot use cases for every business
Let’s take a look at the three common and important ways in which AI-powered chatbots are being used in businesses.
Chatbots for marketing
To be honest, most of the website visitors often can’t find the information they are looking for, this could be the right product, contact information, or demo request. This is a frustrating experience for the on-demand customer. In such cases, there is a good chance that they will abandon the cart or leave your website without doing anything.
Chatbots help you shift the focus from passively capturing leads to proactively engaging visitors in conversations. Instead of forcing prospects and website visitors to go through a tedious MQL process, chatbots engage in human-like conversations in real-time to nurture leads.
Here’s how you can use chatbots for marketing:
- Add a chatbot to your pricing page to proactively reach out to visitors and nudge them to make a purchase. For instance, cart abandonment is one of the most common drop-offs on retail and e-commerce sites. Chatbots can be triggered to engage with customers and nudge them into making a purchase, by offering similar products or offering discount codes.
- Program your bots to trigger messages or initiate conversations based on the time spent on a page or similar behavior by website visitors. If a visitor returns to your pricing page multiple times without signing up for a demo – chatbots can be set up to engage with the visitor, understand the reason behind this hesitance, and offer relevant next-step actions.
- Set up bots to guide your visitors through an ideal user journey, pointing them in the right direction to understand more about your product or service.
- Capture contact information of your visitors and route them to the right sales representative for a quick follow-up.
Chatbots for sales
Today, customers live in an on-demand world and expect nothing but real-time responses. Businesses that fail to understand this can kiss your deals goodbye. Chatbots help you speed up your sales process and enable you to close deals like never before. Moreover, they work across the sales funnel. Website visitors can be segmented into first-time users, high-quality leads, customers, and more. Your messages can be relayed to these segmented groups based on how they interact with your website.
Here are a few ways in which you can use chatbots for sales:
- Capture leads by adding a chatbot on your website to engage with visitors in real-time.
- Qualify leads by asking them information such as company name, business email address, etc.
- Proactively reach out to leads who are trying out your product and offer them help if they need any.
- Automatically engage customers using personalized upsell or cross-sell messages, when they are active in your product.
- Improve conversion rates by triggering conversations with website visitors based on user activity or behavior
Chatbots for customer service
A lot has changed since businesses began embracing innovative technology and chatbots to enhance customer experience. Automation has helped businesses meet customer expectations, reduce costs, and improve the efficiency of your support team. With chatbots, you can now deliver great customer service at scale. Chatbots can also help you to be proactive with your support. You can enable bots for FAQs that provide answers with just a few clicks.
Here’s how you can put chatbots to use for customer service:
- Chatbots can work tirelessly providing seamless, round the clock customer support.
- They can handle endless queries and repetitive tasks through automation.
- By setting up a chatbot on any of the high-intent pages on your website, chatbots can offer instant help to visitors.
- By answering questions quickly, chatbots reduce customer wait time and increase first response time.
- They can collect feedback from customers, provide updates, and complete transactional tasks.
Freshworks AI-powered chatbot — Freddy
Chatbots have myriad uses but how do you know which ones to build and which ones are right for your business? With Freshworks’ Freddy answer and custom flows, you can custom build chatbots for any business use case, industry, or goal. Freddy works across the entire customer engagement journey from prospecting right through to customer success.
Using powerful artificial intelligence and machine learning techniques, Freddy is constantly learning new skills, providing predictive insights, and new business opportunities. Freddy seamlessly integrates with Freshworks’ suite of products or with your existing technology stack without breaking your business processes or your bank.
The best part? You don’t need a data scientist, a data team, or prior coding experience to build a chatbot on our AI platform. This speeds up your chatbot implementation process and provides faster time to value.
If you’d like to know more about Freddy and how it can help you achieve your business goals, drop a comment, or simply take Freddy for a spin.