When people hear chatbots, they always think of ‘robots.’ Sometimes this is true- there are several transaction-based occupations that have been automated and substituted with increasingly advanced robots that can perform the very same job as humans in a fraction of time.
However, this form of automation is currently called hyper-automation-where technology brings automation past the substitution of human capacity and into automation that produces superhuman abilities.
In fact, technology doesn’t have to be as grandiose as eliminating human workers entirely. Only tiny quantities of automation will make the work already being performed by a human being more functional, reliable and eventually more profitable.
As Bill Gates has said the automation implemented to an efficient operation will increase efficiency (but do not forget that the automation implemented to an inefficient operation will increase inefficiency).
Here are 6 of the ways in which chatbots can accelerate the growth of the average company in 2020.
1. Chatbots In Instant Communications
Advancements in Artificial Intelligence (AI) will begin to accelerate in leaps and bounds and will have a huge effect on how companies interact with their clients in the coming years, primarily due to the improved affordability of AI, plus the gains that can be created from increased efficiency.
Implementation of AI in customer communications—instant chat, phone systems, etc.—frees individuals to engage in work that cannot be replaced by automation!
Chatbots are improving a lot at knowing the purpose behind a consumer question and sensing emotions. Most times, chatbots will answer basic customer questions so well that the system-based customer cannot recognize the difference between a person and a chatbot.
Certainly, automation in immediate communication tools should not take away the influence of human interaction. This form of technology is yet being evolved and chatbots are still not able to address customer questions, so it is important that there is always a chance to chat with a human being.
Also Read – How Digital Technology is a Must-Have Asset!
2. Automation to Enhance Communication Interaction
The new customer no longer divides interaction with brands into various networks. It’s just conversation. Increasingly frustrated consumers continue to cross channels—whether it’s a phone, mobile, messaging, or social media—expecting a customised solution through the whole omnichannel experience of how and where they want it.
Sensitive, efficient and relevant interaction is one of the most critical criteria in delivering outstanding customer service. However, as most companies can understand, this form of correspondence can be time-consuming and costly, and it only grows as contact lists expand in scale. However, it is something that we as users have come to anticipate, and we would not hesitate to unsubscribe from an email that is not important or tailored to us.
A latest Harvard Market Review survey which examined 1.25 million sales leads earned by 29 B2C and 13 B2B companies:
“Firms who attempted to reach prospective clients within an hour of accepting a question were almost seven times more likely to apply for the lead … as those that tried to contact the client an hour later – and more than 60 times as likely as businesses that stayed 24 hours or longer! ”
There are many reasons that a company may want to connect with a contact- a monthly update, follow-up to an enquiry, lead email assistance, order approval, delivery updates, appointment reminders, etc. Imagine that any of these had to be submitted independently and manually! There are also organisations that focus on automatic text messaging to have the highest consumer service.
Food delivery applications, for instance, are becoming extremely popular. They use chatbots to send a text message when the order is placed and when it heads out for delivery or to notify the consumer of their driver’s whereabouts in real-time.
People are bombarded with marketing and brand announcements via email, text, social media ads, web commercials, ads on messaging services, and more. It’s all day long. The whole time. It’s implacable. As such, advertisers have just a few seconds to catch someone’s interest, so the more important and personalised the communication, the greater the likelihood that it will be heard and read. This form of tailored, personalised contact was made possible by Automation.
CRM and lead gen platforms use enhanced differentiation to allow companies to organise their contacts according to particular requirements and to connect with them on the basis of those criteria.
The content inside emails may be set to be interactive, such that different content is displayed to the recipient, based on which category they fall into. Entrepreneur.com estimates that this will boost the overall sales rate by 20%.
Predictive sending ensures that emails are sent while the contact is most likely to open and communicate with the text. Well-timed emails and sales will raise sales by at least 10%.
Relevant activities that cause correspondence may be specified—e.g. interest is introduced or an email is opened.
3. Automation for Minimizing Wasted Time
Life happens. Customers are busy, distracted, and, sadly, they fail to attend meetings. This can be annoying for the customer, hence, they have to reschedule, and maybe pay a fee for skipping their appointment-but it’s much more stressful for companies who have made time to see you in their day.
No-shows mean missed the money and lost time, but Text messaging and e-mail automation could be used to remind consumers about appointments, dramatically minimising no-shows, whether it’s a dental consultation, a webinar, or a work interview.
4. Automation Saves Time
Not only does automation minimise wasted time, but it will save you actual time, effectively allowing you to do more on the same 8-hour working day that was historically feasible. Time lost means money saved. A number of hours can be saved by automating routine activities such as content preparation and social media updates using services such as Hootsuite and Buffer.
In addition, Entrepreneur.com claims that social posting automation will free up to six hours a week and also reports that using an automation platform could actually save 80 per cent of the time spent on activities such as content preparation and staff management.
5. Automation to Retain Customers
Although converting new clients is a primary concern for most companies, the main objective should be on maintaining existing clients because according to Kissmetrics, it is almost 7 times easier to keep current customers than to make new ones!
There are several reasons why a consumer might want to abandon you, and bad customer service is a top priority. In addition, Kissmetrics also estimates that 71 per cent of customers have terminated their business partnership due to bad customer service.
Technologies such as ActiveCampaign and Intercom use technology to help companies maintain constructive and reliable interactions with current clients, such as notifying customers to sales, rewarding services, product notifications and any other information they deem useful and appropriate.
This platforms will also greatly boost consumer service. For example, when a company uses ActiveCampaign, the client-current or potential-would be requested to include their email address when talking to live agents be it on the phone or through a chat feature.
Equipped with an email address, the agent is able to access a variety of useful data that will help make the encounter highly pleasant for the client, such as the appropriate way of engaging with the consumer to get the most favorable response, prior experiences between the consumer as well as other live representatives, e-mail conversations that have gone back and forth, etc.
Having all sales and service info, regardless of platform, in one location means that a live agent can have a great consumer experience. Automation also decreases the probability of human error, both of which tend to keep the consumer satisfied.
6. Automation to Prioritize Sales Calls and Drive Revenue
Chatbots are used in the distribution process to meet the consumer in the right place and at the right time. Lead scoring is a standard feature of marketing and lead generation technologies that allow companies to rate prospects in terms of perceived efficiency. Different points are assigned to different acts the lead could take, for instance, opening an email might be 1 point, a page viewed on the website would be another point.
If the lead exceeds the lead score considered by the organisation to mean it’s a hot lead, the sales staff will reach out. Automated interaction may be sent to enable the lead to take more and more effort to further improve its ranking, showing that the lead is active and involved.
Lead ranking in this manner helps the sales staff to prioritise what they can approach first, reduce the time spent on uninterested leads and improve the chances of making a deal.
Businesses have long understood that marketing automation is the path to growth, but many have failed to successfully incorporate automation in their enterprise.
It is clear that most companies have now been able to automate parts of their marketing functions, such as lead management, email strategy or social sharing, but in many instances, the introduction of a completely integrated marketing enclosure has proved to be much more complicated. But imagine how successful the company would be if it were?
There are many other methods that can be built into your marketing enclosure to automate almost any feature, including admin tasks. Calendly, for instance, is an easy-to-use online appointment management programme that helps clients to schedule their own appointments in a custom calendar.
Zapier helps you to build automated actions between your key business programmes, and Xero minimises the workload of accounting functions such as automated invoices, routine transfers, and cash flow control. These tools deliver tremendous time savings while still enhancing customer experience.
Automation is so effective on ROI when performed properly. Automated data marketing campaigns utilize artificial intelligence to compile all available data, interpret and suggest intelligence-driven marketing behaviour. This is the era of marketing automation, and if your company is not on board, the business will be left behind.
What is the involvement of AI Chatbots in the acceleration of revenue?
It’s all about the use of conversational marketing and conversational purchases during the purchasing period. Instead of asking users to do it through lead capture methods and wait several days for a response, communicative marketing uses standard categories and AI chatbots to contact people in real-time while they’re on the website.
Through AI chatbots, visitors are given a web experience that is more immersive, more confidential, and much quicker. One research showed that 80% of customers are more likely to buy personalised service from brands. Conversational marketing and AI chatbots make the customization on a scale feasible.
7. Accelerate Buying Cycles with AI Chatbots
With AI chatbots, you will be accessible and useful to visitors from the very first time they come to your website. All along, you build confidence with the customer and gain perspectives that translate into improved close rates for marketing team.
Engage Website Visitors
Top retailers mastered the art of consumer service. As soon as you walk into their shop, you’re welcomed by welcoming employees and handled like a VIP.
Market brands have raised consumer demands and B2B brands need to respond to the call. Historically, delivering customised web experiences has not been feasible. Yet the B2B promoters are no longer off the hooks today.
AI chatbots make it easier for any visitor to believe like they have a customised experience. Engage, initiate conversations, and establish relationships with any single person who visits your website.
You can use the power of AI to:
- Engage with guests on a 24/7 basis.
- React in real-time.
- Interact with guests and gauge their curiosity.
- Targeting future customers
Marketers are wasting tonnes of resources enticing customers to their platform. And once they’re there, there is still a lack of visibility for many organisations to know who visitors are. When you review analytics, unknown organic traffic, great target buyers, and clients all look almost exactly the same.
Revenue growth, driven by conversational marketing and AI, moves the strategy from one-size-fits-all to one-size-fits-all.
You will see where the visitors came from and provide them with the correct channels, bid and post. High-value accounts will automatically accept updates from a human being, whereas less-qualified or lower-value accounts acquire more automatic experience.
Tailor Sales Interactions
With extreme high contacts established through AI and communicative marketing, sales teams are motivated and willing to provide excellent, customised service to those purchasers.
By automating contact with less-qualified customers, sales will create relationships around the individual wants, preferences, aspirations and obstacles of qualified buyers.
There’s no doubt that chatbots are a great option to increase efficiency and use employee efforts on more productive tasks.
To know more about ways to accelerate the growth of your startup or for great business ideas, keep reading The Money Gig.
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