Chatbots for business and website have been absolute game-changers in recent years. They are redefining the rules of business communication, thanks to the wonders of Artificial Intelligence.
21 Ways to Grow your Business with Chatbots in 2021
1. Customized Experience For Consumers
Chatbots for businesses or websites feature an in-built natural language machine learning technology. This technology equips a chatbot for the website to comprehend customer questions accurately. Thus, chatbots are capable of providing personalized shopping advice to every single customer they interact with.
A 2019 survey reveals that twice as many buyers were willing to interact with chatbots as they helped provide useful product recommendations. The chatbot for website used by Nordstrom has a step-by-step item display system. It enables the chatbot to showcase products based on the buyer’s choice.
There are several chatbot builders in the market. But choosing WotNot will add an edge to the customer experience as our impactful chatbots for business maintain no code.
2. Manages Sales Seamlessly
Chatbots for small businesses help automate the marketing process. They can efficiently handle routine tasks of generating leads, collecting data, and interpreting it simultaneously. They do all this in the nick of time.
Using chatbots is worth a try for small businesses because it automates the streamlining of sales from the beginning till the end. Bots can help manage a small business as they can single-handedly generate leads, convert buyers, and offer the best consumer service. Thus, a business need not dole out huge capital because chatbots can manage an enterprise all by themselves.
This saves any business enterprise from attending customers personally because chatbots as an AI tool are pretty intelligent to communicate with millions of customers at a personal level.
An interesting use case in this regard is Snaptravel, an online hotel booking company.
This company used an AI chatbot to build an automated sales executive. This bot can book hotels and flights for Snaptravel’s clients based on their timing and budget. If the chatbot cannot handle any issue, it will redirect the client to a live representative. Thus, a chatbot manages most parts of a business very efficiently.
As chatbots for website are already boosting sales and increasing customer satisfaction, there is a growing demand among corporates to make their sales AI-driven. Studies predict that the international chatbot market will reach USD 1.3 billion by 2025, expanding at a CAGR of 24%.
3. Expands Engagement Opportunities
Using chatbots as virtual assistants on a company website is an effective way of improving customer engagement. As the chatbots function using conversational technology, it increases a website’s chances of having a better engagement with the customers. Besides, a survey reveals that 39% of businesses use chatbots to impart an interactive interface to their websites.
The ability of chatbots to process natural language and interpret customer’s mindsets makes it a hot pick among brands who want to speed up their interaction with their customer base. A significant use case is Slush, a company that organizes international entrepreneurial events all over the world. The chatbot on Slush’s website handled 64% of the customer requests successfully. The customer engagement saw a dramatic increase of 55% after Slush roped in a chatbot on their team.
Another useful instance is that The Plum app uses a chatbot that welcomes first-time visitors by asking if they would like to learn more about it. If the user selects ‘yes,’ the chatbot starts teaching how the Plum mobile app functions.
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4. Increases Revenue and Leads
When chatbots are incorporated into a business website, they immediately initiate a conversation to gauge a customer’s intent every time they visit the brand website. Using chatbots for website is an effective mode of interaction as they can provide immediate solutions to the customers. This simplifies the sales process and helps produce ‘leads’ faster.
With surging demand for chatbots in the business domain, vital statistics reveal 36% of businesses are using chatbots to increase their sales leads. At WotNot, we build hi-tech bots for managing business leads seamlessly.
5. Manages Business Faster By Automation
Chatbots leverage the technologies used in running businesses efficiently by making aspects of e-commerce completely auto-driven. In short, chatbots for website speeds up business growth. Automation by chatbots minimizes business costs by replacing manually executed customer service.
According to a study, 67% of businesses of customers used chatbots-based customer support for speedy responses. Buyers can chat with car brand Skoda’s chatbot Laura to talk about their specifications, budget, etc.
6. Enhanced Analysis Of Consumer Feedback
Chatbots for small business analyze a user’s sentiments through Natural Language Processing (NLP) to identify emotions from a given text. Sentiment analysis will tell us if the consumer’s response is positive or negative.
NLP powers chatbots with the ability to decode a customer’s mindset after a conversation and develop insights into their preferences. Thus, a chatbot can showcase recommendations based on a customer’s likes. This helps a business adopt a customer-centric approach while redefining marketing efforts.
For example, angry customers at the beginning of a conversation are immediately identified and directed to a live rep. Hence, the customer will get personalized assistance efficiently and quickly. At WotNot, we build smart bots which handle customer queries with spot-on responses.
7. Ensures Longevity of Start-Up Businesses
Chatbots for website increase the possibility of start-up retention as their interactive interface predicts consumer issues by providing effective solutions. Start-ups need not hire executives to maintain 24/7 customer service, as chatbots play virtual assistants effortlessly. This reduces business expenses to a considerable extent.
Chatbots remember and process the information which customers tell them. Chatbots for business can also make recommendations based on the data gathered from past interactions with a customer. Thus, we can serve our customers better by using this data as a valuable consumer resource.
The chatbot of Snaptravel stores the data of buyers to generate leads. Then the chatbot sends rapid alerts for discounts and promos via social networking platforms like Facebook messenger, Whatsapp, or text.
8. Use of Chatbots On Social Channels
Chatbots for business use the data provided by users on social media forums to prepare personalized messages. Based on that data, bots can field questions and provide relevant information like any human consultant. In this way, chatbots can convert leads into trusted buyers.
The pervasive presence of chatbots on all social networking platforms paves the way for any brand to find its customer effortlessly.
Kindred Bravely, an eCommerce store, uses Facebook Messenger chatbots for providing a conversation-oriented buying experience for the customers. As per the reports of a 2019 survey, Company CIOs have accepted the usefulness of chatbots for better outreach.
9. Makes Interaction Fun
As of 2019, the world comprises 1.92 billion consumers who are buying digitally. Most of us love using visual expressions while chatting as it helps us connect better. Thus, chatbots for website can rev up sales and increase conversion rates by using funny emojis for a social engagement with the customers.
Cosmetic brand Sephora used chatbots on the messaging platform Kik to attract youngsters with a visually interactive interface. Its second chatbot, ‘Sephora Virtual Artist,’ allows its customers to upload a selfie and try different lip colors. It has provided a delightful experience to its users.
10. Guides Customers In Real-Time
A chatbot makes use of machine learning to proactively respond to basic buyer queries such as “How much does this item cost?”. They are providing instant solutions round the clock. Also, multilingual bots can chat with a customer in his/her mother tongue, leading to a higher degree of satisfaction among the customers.
The chatbot is the easiest way of localizing knowledge bases, FAQs, and web pages based on our customers’ demography. For example, H&M’s chatbots can assist their buyers in finding products with the exact size and fit. Their chatbot provides information on choices, style guides, and prices, helping H&M enhance buyer’s shopping experience.
11. Makes Your Business Website Contextual For The Consumers
A bot provides value-oriented, contextual assistance to the customers. It uniquely processes the data it has on the customer through AI to give the customers a formative experience.
This is because a chatbot uses a customer’s data to provide them a personalized experience. These bots can do more than just answering pre-programmed queries. For example, a chatbot can develop useful recommendations by analyzing data on an individual customer’s preferences.
A major use case for bots in speeding up consumer service is the HDFC Bank chatbot. This chatbot is available round-the-clock to assist with banking inquiries. The availability of 24/7 customer support increases the customer retention rate for any enterprise.
12. Provide Support During Emergency
Chatbots for business can develop immediate resolutions during an emergency, especially if it is after hours. If a company maintains a chatbot to cater to customer service, it can provide instant assistance instead of making customers wait on hold for resolving non-complex issues.
The instance of crisis communication chatbots is a good example in this case. These chatbots are relentlessly helping medical workers to keep themselves up-to-date during the COVID-19 crisis. They provide accurate responses to queries even when crisis center reps are not able to.
13. Close the Sale On Customers
Chatbots for website can lead a business to have a clear and definite path to ROI (Return On Investment). It guides customers through the sales funnel by providing customization at scale. 57% of companies admit to chatbots delivering huge ROI with minimum effort.
Charter Communication is a cable provider in the US. It had 200,000 live chats every month before they had a chatbot service. When they started using one, the chatbot managed a whopping 83% of the total communications. Charter had a boost in the ROI by 300% within six months.
We, at WotNot, are going to drive business ROIs like never! Our chatbots personalize every customer’s experience and scale up sales in the nick of time.
14. Makes Your Team Productive
Chatbots can create coordination between various departments of a business enterprise. They can establish communication channels between sales, customer service, and lead generation for the smooth running of businesses.
- Awareness — The use of chatbots can make a sales funnel a consumer-oriented channel in the true sense.
- Interest — As a first step, chatbots can quickly attract customer attention to the company website. Then, a chatbot can keep a customer hooked on buying a product displayed on a site by answering the buyer’s questions. This will help the customer to decide between buying a product.
- Decision — Furthermore, tailoring a sales chatbot to say the apt things at the right time will convince a buyer to buy a product.
- Action — Thus, a top-class chatbot can prompt and motivate your customer to complete the purchase.
As a use case, a chatbot can work as a virtual assistant for teams within an enterprise. Bots can respond to common queries, find solutions, or search a database for product statistics. Bots, using AI, can find the data that the sales agent needs about the brand’s service or products. This helps sales agents to be faster with their responses.
15. Manages Order Tracking
Tracking your shipment through email is a complicated process. A chatbot can make the process of tracking orders very easy. Buyers can just enter the shipping ID there and get a notification.
Lifestyle brand Zalando’s chatbot provides immediate order tracking for its buyers after ordering a purchase.
16. Enhances Brand Value
Chatbots for business can speed up the functioning of a website in various ways. It keeps the engagement with customers simple, funny, and straightforward. All this adds to the positive experience of a visitor on a site.
The chatbot of Dominos makes the ordering process go smoothly for the customers. They need not open the website or download an app to order a pizza. They just have to join a conversation with the chatbot in Messenger. Statistics reveal 74% of buyers prefer chatbots for instant answers.
17. Provide Price Estimates
Before buying a product, a customer may try to get in touch with the service agents requesting its price. Chatbots for business have direct access to the business database. Hence, they can recognize keywords in a buyer’s request. Consequently, they come up with prices for the products.
The chatbots of Staples serve this purpose. It quotes the price underneath the product image only if that item is in stock. The chatbot has a ‘shop now’ button beneath the image to click on it and purchase the product.
18. Monitor Drip Campaigns
There is a growing tendency among consumers to neglect opening company subscription emails. However, a chatbot engages the customers in a chat by asking them multiple questions.
Many visitors will take part in the survey due to the conversational approach of the chatbot. The company can then send emails with more relevant content to the users for marketing drives.
Having a tête-à-tête with chatbots is going to be more entertaining now. We, here at WotNot, are all set to take conversations with customers on a different level using top-rated AI-powered chatbots.
Sales engagement platforms are developing chatbots that provoke thoughtful discussions among their users on behalf of the concerned company. Furthermore, they attempt to seek answers to questions before asking for the visitors’ emails.
19. Equipped With Selling Tactics
A chatbot guides a potential buyer about a brand’s services and products. Hence, it can take this chance to direct a buyer to a lucrative upsell or a down-sell offer. By this time, the customer concerned already has an idea of the company’s products.
So, the customer will seriously think about accepting the offer being shown by the chatbot. This can boost up the sales.
HelloFresh, a food delivery service, offers chatbot-exclusive rebate codes to track the exact number of orders they receive through their chatbot.
20. Promotes New Products
Companies can promote their latest launches by providing a personalized experience to the customers through chatbots.
Chatbots can converse with the visitor to know about the types of products they like buying and give highly relevant options. Through chatbots, a company can boost its sales.
A fashion brand, MVMT, similarly uses chatbots for business to attract millennials to boost their sales.
21. Conducts Promotional Contests
Companies promising discounts via contests improve their chances of customer loyalty. Chatbots ensure higher visibility for a contest on a business site so that visitors can access them without any hassle.
The chatbot of the National Geographic website engages participants through a quiz and offers a discount on their Almanac eBook.
The chatbot market is growing by leaps and bounds. With the robust enthusiasm centering around chatbots for website, it is expected that customers will readily forge a relationship with a company without asking for human interaction. With 53% of organizations hoping to use chatbots, the day is not far when the power of chatbots for business will be a force to reckon with. To take sales to new heights, trying WOTNOT is worthwhile. We build highly advanced bots with no code that functions across multiple channels. Our live chat tool helps you bond with your customer base in real-time. And, in a data-driven world, the WOTNOT chatbot analytics dashboard helps a brand develop a deeper insight into its customer base and bolster its sales.
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21 Ways to Grow your Business with Chatbots in 2021 was originally published in Chatbots Life on Medium, where people are continuing the conversation by highlighting and responding to this story.