Customers have always been at the heart of every business. Therefore, customer engagement becomes a key to loyalty and continuous success.
According to recent research current customers spend 67% more than newcomers which underscores the immense value in nurturing customer relationships and quality customer engagement.
Yet 44% of brands cited their top customer engagement challenge as finding a balance between customer experience and skyrocketing customer acquisition costs.
Enter chatbots and virtual assistants used in business. Implementing chatbots in business not only increases customer satisfaction also leads to employee productivity in dealing with increased number of customer queries.
In today’s age of digital transformation where businesses are continuously seeking out ways to innovatively enhance user engagement and statistician AI’s introduction to chatbots and RPA chatbots are helping business to maximise their potential.
But how AI-powered chatbots work? Why are businesses adopting AI chatbots to redefine their customer journeys? We will be covering answers to all these questions and much more in this blog.
Knowing more about chatbot virtual Assistants and AI
With digital transformation taking over globally, chatbots and virtual assistants have become essential tools for online communication as businesses grow.
By adopting advanced technologies like machine learning and natural language processing, RPA Chatbots and Robotic Process Automation services open new avenues to add value across business processes.
Manual engagement can often be a daunting and time-consuming task resulting in delays in customer queries.
AI-powered chatbots bridge these communication gaps by providing personalized responses and escalating urgent queries to humans in real time.
These chatbots can be deployed across various channels like websites, mobile, apps and social media platforms.
5 Unparallel Benefits of using AI-powered chatbots
Multilingual support
By utilizing language recognition and translation capabilities to communicate with customers in their preferred languages, AI chatbots can offer support in multiple languages, enabling businesses to grow their customer base internationally.
This allows them to overcome language barriers and offer a seamless support experience to customers worldwide.
Personalization
These chatbots can be a great way track and measure customer satisfaction in form of different surveys and creative ways of engaging with. Then a unified views of consolidated customer data helps business leaders understand the customer journey and make informed decisions.
Speed and efficiency
Without requiring human intervention, AI chatbots respond to consumer requests instantly and in real time. They can quickly address common inquiries because to their automated and effective nature, which improves customer satisfaction and leads to prompt resolution.
Cost Savings
Implementing AI chatbots can lead businesses to save millions by reducing the need for a large customer service team from different geographies.
Better Navigation
Diverse customers face a diverse set of challenges in navigating through online products or services. AI chatbots come as a savior by guiding users in real-time and taking users to their buying destination button in no time. This way it becomes a win-win for both company and users.
Top 10 AI chatbot use cases must know for different industries
Chatbots are essential if you need to include “customer interaction” in your customer experience, regardless of the business you work in. Our years of experience and thorough analysis have allowed us to identify the most realistic use cases for chatbot deployment that yield excellent outcomes. Let’s study them one by one with real life examples!
E-commerce
Customers are heavily moving online mode to shop literally everything. Hence, they need someone to be available 24/7 throughout their shopping journey. AI powered chatbots play a very crucial role here. They can handle tasks like product recommendations based on customer taste and preferences, provide consolidated price variety, handle returns and much more. Let’s look at real life example:
Example: Sephora
Sephora’s chatbot: Sephora Virtual Artist is designed to drive sales and offer personalized shopping experience. Its top features include virtual trials of products, product recommendations based on preferences and even makeup tutorials for a simple shopping process.
Travel
Travel agents are being replaced by AI assistants and intelligent chatbots, which enable customers to make online reservations for hotels, flights, and car rentals. These chatbots are used to provide users with a more customized booking experience on social media platforms.
Example: KLM Royal Dutch Airlines
KLM uses an AI-powered chatbot named BB (short for BlueBot) to assist travelers with booking flights, providing real-time flight information, and answering queries related to luggage and boarding passes. The chatbot also sends booking confirmations and reminders.
Healthcare
In the healthcare industry there are the number of manual tasks that can be automated like appointment scheduling, answering medical queries, helping patients manage their conditions and many more, all of this can be handled by chatbots smoothly.
Example: Ada Health
Ada health chatbot is made as personal health companion offering features like having conversations with patients about their medical symptoms, analysing the information and guiding next steps for curing. Interesting, right?
Entertainment
When it comes to interacting and communicating with their audience, media and entertainment firms, frequently find it difficult to accomplish customization at scale. Lower customer acquisition, retention, and engagement are the outcomes of this.
Example: Spotify
Spotify’s AI-powered chatbot on Facebook Messenger helps users discover new music by making personalized recommendations based on their listening habits. The chatbot can also create playlists, share song previews, and provide information about artists and genres.
Banking and Finance
AI-powered chatbots are increasingly used in banking and finance to provide account information, process transactions, and offer financial advice. It enhances customer satisfaction and engagement by offering a secure and convenient platform.
Example: Bank of America
Bank of America’s has an AI-powered chatbot named Erica which keeps the users updated with timely reminders such as credit scores and upcoming bill payments. It supports users to make smooth transactions, manage account, provide personalised financial advice based on spend and save habits.
Education
Education chatbots can help with a number of tasks, including updating curriculums, expediting admissions, retrieving alumni data, reviewing papers, and acting as virtual teaching assistants. AI-powered solutions like these are revolutionizing the way universities and EdTech businesses interact with staff and students.
Example: Duolingo
Duolingo, the language-learning platform, uses AI-powered chatbots to engage users in interactive conversations in various languages. These chatbots help users practice their language skills in a conversational context, enhancing the learning experience.
What future hold for AI-powered chatbots?
The future of digital transformation is that no business will be successful without customer engagement. The lack of communication flow will make customers lose interest in the business. With right customer engagement strategy and collaboration with modern technologies like automation via AI chatbots, businesses can maintain long lasting relations with their customers.
As per a recent survey by 2030, the chatbot market is expected to increase at a rate of 23.9% annually, to an estimated $3.62 billion. This demonstrates the growing acceptance of chatbots and their potential as effective customer support instruments.
As a result, businesses that embrace these emerging trends will gain a substantial competitive edge. It will enable them to provide their customers with individualized services more effectively.
Conclusion
AI powered chatbots and virtual agents have already proven to be the biggest assets of all times. They take business success to the next level when utilized in a strategic way. Before implementing chatbots you need to understand which business process is ready to be transformed. For this picking the right use case and partnering with trusted AI automation vendors becomes crucial.
