How Live Chat Bots have Turned Beneficial for Online Business

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Online business has become very tough owing to the ever-increasing number of companies joining the bandwagon. The competition has become so tough that only the fittest survive. It has become a consumer market where the consumer decides who will survive and who will perish.

Since the market trend has shifted so has the focus. Now all online companies are focused on giving the best consumer experience to customers be it the quality of products and services or customer care.

Sometime back, a huge focus was on telephonic lines through which customer care executive answered customer queries, but not now. The entire focus has shifted to live chatbots that answer all frontline customer queries.  All the top businesses have given way to the old system and adopted a new system to give proactive support to customers and give them a wonderful customer experience.

Increase in chatbot usage by people

It has been seen that the use of Facebook’s attached chatbot by businesses has grown exponentially over a period of 3 to 4 years. While only 30000 people used Facebook messenger attached chatbot in 2016, this figure increased to 100000 by 2017.

Now,  in 2020 almost 80%  of the big businesses want their own chatbot in order to reduce their expenses. In a survey done in the US, 44% of US people prefer chatbots to answer their queries rather than humans. This can be confirmed if you visit any of the top business blog posts.

Chatbots help in cutting down operational costs

It is estimated that around 270 million customer care requests are made on which a whopping 1.41 trillion dollars are spent on customer service. So, if chatbots are used it is estimated that online businesses can save up to 30% of this amount.

Most online customer queries are of similar nature where basic questions are handled. Since chatbots can answer multiple queries at a given time, it can easily spare customer care people to handle more complex queries increasing the productivity of the customer care agents by a huge margin.

Chatbots help in increasing sales

One of the great methods to increase sales of online companies is marketing through successful blogs like Huffpost. However, in the next five years, it is predicted that 90% of all customer inquiries will be handled by chatbots. This is because businesses that have inducted chatbots in their customer service are witnessing a huge difference in sales figures from passing years.

This is because chatbots communicate like humans but do not commit human errors because they are not affected by emotions like humans. Chatbots have the capacity to perform routine tasks 24 x7 easily which means customer queries can be handled resulting in increased business and sales.

Chatbots help in marketing and introduction of new products

Chatbots serve as primary customer service personnel, interacting with people on a continuous and regular basis, and satisfying their queries relating to products and services. For this reason, they are best to market existing and introduction of new product and service range by any business entity.

Chatbots have complete information about consumer preferences and their issues relating to quality and service. Information and responses from chatbots serve as the basis for future products and services thereby enhancing customer satisfaction and better marketing for companies.

Enhance customer satisfaction and better credibility

The biggest drawback of online business is the lack of consumer confidence and credibility. One of the reasons for this lacking is because there are thousands of companies selling similar products and services, claiming almost the same quality at different price ranges. This creates doubt in the minds of consumers for the quality of products online.

However, since chatbots are devoid of all human emotions, they interact with all consumers in a similar manner irrespective of their behaviour. Interactions with live chatbots create positivity in the minds of customers for the company and its products.

When all the queries of customers are satisfied and products and services delivered on time with promised quality, it enhances the credibility of the company manifolds. Along with this, you can also achieve better credibility for the company by promoting a blog that shares its products and services.

Helps in the overall success of the company

Chatbots have become integral to the functioning of most big online businesses. They have not only helped them improve total consumer experience by leaps and bounds, but they have also helped many of the online companies struggling with customer care problems tide over them.

Live chatbots have in fact helped many online companies win over their competitors through sheer customer interaction and customer care. Although chatbots cannot replace humans totally for all types of customer care and satisfaction, they have already become irreplaceable in the near future.

The introduction of live chatbots have, in fact, redefined business strategies and proved that if companies care for their customers, then only customers care for companies.

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