With digital transformation streamlining various business processes, implementing artificial intelligence (AI) and machine learning (ML) solutions is becoming integral to success.
One of the key elements of efficient business operation is top-notch customer service. By implementing multi-channel digital sales and marketing tactics, companies show consumers their ability to cater to customers’ needs anytime and anywhere. That’s why many consumers expect multi-channel customer support to be available 24/7/365.
Since round-the-clock human assistance puts a serious strain on a company’s budget, many businesses turn to chatbots. These AI-powered apps don’t just respond to queries as they are programmed to do. They can learn as they go, thus improving the quality of their services exponentially.
Customers make chatbots their preferred method of communication due to the ability to get an immediate response. Let’s take a closer look at other ways your customers can benefit from chatbots, thereby increasing your company’s profitability.
1. Round-the-Clock Availability
The number of consumers shopping online at night is on the rise. For many businesses, the peak customer traffic occurs between 9 pm and 1 am. Not all companies are ready to invest formidable amounts into hiring round-the-clock customer support specialists to attend to the needs of late-night consumers.
Meanwhile, customers expect their issues to be addressed immediately. Otherwise, they may avoid making a purchase, thus increasing the website bounce rates and abandoned cart rates.
A chatbot can offer solutions for an impressive variety of repetitive issues the majority of customers face on the website. Artificial intelligence and machine learning algorithms allow chatbots to analyze customer behavior, study frequently occurring issues, and provide immediate responses.
FYI: Capacity is able to answer more than 84% of all inquiries without human involvement. If Capacity doesn’t know an answer, the question is escalated to the appropriate internal team via a ticket or live chat, and the answer gets added to the Capacity knowledge base.
2. Better Customer Experience
While chatbots can’t read between the lines or improvise, they are excellent at making the customer feel cared for by them. Through the use of natural language processing (NLP), Capacity can understand and respond to your questions, just like a coworker.
NLP determines a user’s intent, credentials and permissions, questions they’ve previously asked, apps and systems they have access to, and the context of the larger conversation—all in just milliseconds—to enhance the user experience.
Depending on the program’s complexity, it can offer much-needed assistance and support while implementing aspects of personalization.
When a customer writes an email to support or fills out a contact form, they feel as if they are sending a message into a void. But when they speak with a chatbot, they know their message is received and processed on the spot.
Chatbots can address users by name and make specialized offers. All of this contributes to higher satisfaction rates and better experience across apps and e-stores.
FYI: Capacity can easily be white-labeled to match the brand colors and personalities of our customers.
3. Saved Time
According to Forbes, 62% of consumers prefer to use chatbots to interact with businesses. One of the reasons is to save time.
A chatbot can provide a solution to a problem within seconds. But a human customer support expert could take several minutes or hours to find the right answer.
Machine learning capabilities coupled with immediate access to large FAQ databases allow chatbots to be much faster than humans, thus saving consumers valuable time.
A chatbot learns faster than a human does, too. While a human customer service rep spends hours reading manuals and going over buyers’ details, a chatbot can process thousands of conversation logs in seconds.
When a customer has a limited amount of time to make a purchase decision, a 10-minute conversation with a support rep is out of the question. Meanwhile, a 30-second interaction with a chatbot can push the consumer down the sales funnel.
FYI: Searching for information can be tedious and time-consuming. Capacity is neatly and intuitively organized, so you can always find the information you need—instantly.
4. Personalization
Chatbots can deliver a highly personalized experience based on the data collected about the customer during their previous interactions with the website or app. Machine learning algorithms allow the program to process the available data and develop personalized offers and solutions, thus streamlining the customer experience.
A chatbot can “remember” the details of each conversation it had with the customer and use them to speed up all the following interactions. This doesn’t just save time for the customers but also makes them feel valued and appreciated.
Additionally, when speaking with a chatbot, customers get access to a detailed record of the conversation, which is rarely possible with human-to-human support interactions. This helps them seek out the necessary information after the conversation is over.
FYI: Capacity offers unparalleled level-0 support. However, whenever Capacity can’t answer a particular question, it automatically escalates to level 1 (i.e., human) support via our Helpdesk ticketing system or live chat. Capacity empowers your agents with chat history and support, so they can confidently pick up the conversation right where Capacity left off.
5. Stress Reduction
One out of six consumers dreads speaking with customer support more than going to the dentist. For many people, phone calls are inconvenient, emails are time-consuming, and live chats are stressful.
Customers feel unhappy when waiting for a response on the phone, speaking with a poorly qualified rep, and failing to see an immediate solution to their issue. When talking to a human customer support specialist, shoppers are much more likely to release their frustration because they can get a reaction.
A problem, no matter how basic, is still a stress trigger. Chatbots don’t get angry, upset, or frustrated. They take the stress out of the customer support interaction, thus making it more satisfactory for the customer.
FYI: By providing level-0 support at all hours of the day or night, Capacity alleviates the stress of not knowing an answer and needing to wait for a reply. When questions can get answered accurately and instantly, that stress is lifted.
A Look Into the Future With Chatbots
According to Gartner, by 2021, 15% of all customer service interactions will be handled completely by artificial intelligence. The main challenges currently posed by chatbots are:
● Inability to process customer intent
● Lack of conversational intelligence
● Security issues
At Capacity, we focus on implementing the latest AI-driven technologies into high-quality customer support solutions. Taking customer experience to a new level is the key to improving your company’s bottom line.