Many Americans are familiar with chatbots—in 2018, 15%of adults in the US said that they had interacted with a business via chatbot, and this number is slated to rise.
In 2019 and beyond, the way that business owners utilize artificial intelligence will continue to impact business practices and improve entrepreneurs’ abilities to succeed in a competitive environment. Chatbots, in particular, are one notable part of this movement doing its part to change the way that business owners think about running their day-to-day operations.
Check out the following ways that business owners are using chatbots to embrace core business principles while maximizing their operating efficiency.
1. A chatbot is an efficient, all-hours representative.
“Efficiency is doing better what is already being done.”
Customers value 24/7 accessibility, and chatbots don’t need to sleep or take breaks. In fact, 37%of American adults surveyed indicated that they would use a chatbot to get a quick answer in an emergency, and 35% predicted that chatbots would help them to resolve complaints or problems.
Many business owners employ chatbots on their site because these bots are able to complete customer service tasks in amore efficient way, all day and every day.
2. A chatbot’s programmed personality will reduce negative customer experiences.
“Every contact we have with a customer influences whether or not they’ll come back. We have to be great every time or we’ll lose them.”
Thanks to customizable programming,business owners in all industries have been able to find chatbots appropriate for their brand. Conversational tones may be hip and quirky, or they may be programmed for a stronger focus on marketing automation and commerce.
Many businesses like chatbots because they can’t be in a bad mood, eliminating the possibility of occasionally sour customer interactions. As a result, 44%of American consumers indicated that they prefer speaking with chatbots rather than humans during their company interactions.
3. Chatbots are saving business owners money.
Chatbots saved business owners in retail, banking, and healthcare over $6 billion in 2018. By 2023, chatbots are expected to preserve $11 billion in combined savings.
Many small business owners cower in fear of the oft-quoted statistic that half of small businesses will fail in the first five years. Unsurprisingly, one of the primary reasons that these businesses can’t stay afloat is a lack of financing.
In many cases, chatbots are designed to perform actions which small business owners might otherwise have to hire additional employees to complete. Chatbots can keep a payroll short and sweet while drastically reducing customer service costs.
4. Business owners are using chatbots to save time and shorten their to-do lists.
"Time is more valuable than money. You can get more money, but you cannot get more time."
Chatbots are serving as personal assistants for business owners with hefty to-do lists. For example, chatbots may schedule events or appointments, sort and answer emails, or follow up with consumers.
Some chatbots developed for ecommerce are capable of suggesting products to online shoppers and even collecting payments.
In other words, chatbots are taking some tasks into their own hands so that business owners can use additional time to focus on building and improving their business.
5. Customer engagement is on the rise thanks to chatbots.
“The purpose of a business is to create a customer who creates customers.”
Chatbots are proactive, and business owners have found that proactive customer service leads to increased consumer engagement. With engagement comes a more memorable experience, and with memorable experiences comes loyalty. Yes, that means exposure and revenue.
As business owners continue to discover additional uses for AI within their operations, tools like chatbots will become more and more commonplace amongst companies who are remaining efficient in an increasingly electronic landscape