Chatbots Saves Your Money

You send a message asking for information. The answer is kindness, politeness, and sometimes even fun.
You think “what a great company”. Speed is amazing. The first answer is clear. Then suddenly it fell on you. You are talking to the computer. The artificial intelligence that used to be a sci-fi movie is here and it won’t go away.
Will we move towards AI to take over? Is the movie “Terminator” a pure fantasy or a harbinger of our own future? One thing is for sure: we will find out soon.

Capitalizing on AI Chatbots Will Redefine Your Business: Here's How -  Fingent Technology

Chatbot Efficiency

As a business owner, automating manual tasks is almost always a way to increase profits. When artificial intelligence can detect these questions and turn them into automated conversations, why pay employees $ 15 an hour to answer the same questions over and over again?
According to “Chatbot” magazine, companies can reduce customer service costs by up to 30% by using chatbots to implement dialogue solutions.

Any entrepreneur or CIO who brings this idea to the board will be backed by hundreds of statistics that will show that this technology will be a huge victory. “Chatbot” magazine also found that: It is estimated that by 2022, chatbots will reduce customer service costs by $8 billion. 43% of people who use digital banking prefer to use chatbots to solve their problems.
40% of people aged 18 to 34 (millennials) chat with bots every day.

There is no doubt that a quick response is better than a slow response. Our entire “microwave” culture not only expects speed but can also bring rewards. Gone are the days of ordering from the catalog and waiting 3-4 weeks for shipping and processing. For Amazon Prime members, if it doesn’t arrive within a day, we are checking the Amazon shipment (of course it starts from the chatbot).
In addition to speed, all clients can have the same problem. Why are the gray themes in the FAQs wasted?

The disappearance of FAQ

Not everyone likes to search, scroll or combine data on the “FAQ” page. We prefer customization and speed. Chatbots are designed to accomplish both functions at the same time, but as we’ll see later, chatbots fail miserably in one of these areas. In, small businesses that need to interact with leads and customers 24/7 are installing extremely cheap chatbots to make customer service calls. 4,444 large companies, such as IBM, Zoom, and Facebook, all like their digital minions. Of course, Facebook has invested millions of dollars in chatbot technology in its users’ Messenger platform to make it psychologically and functionally suitable for chatbot applications.

Chatbots are becoming more and more popular and have been warmly received by people. Most companies hug them like warm blankets. People with gray hair may not fully understand the idea of ​​replacing real human voices with instant automatic responses. This attempt will automatically convince you that you have a personality.
However, not only will your kids get it, they will like it more than humans too.

Millennials take over

In a survey of mobile device users, 75% of millennials would rather lose the ability to speak and send text messages.
reason? Millennials focus their culture on devices. Texting is less disruptive and more convenient, so it is the first choice.
Although this sounds attractive to CFOs and shareholders, it is potentially dangerous. This danger is not the danger of “Skynet” robots starting World War II. On the contrary, the real flaw lies in the expectation that technology can solve many problems in a wide range of generational preferences.

For baby boomers, independent chatbots are rarely a quick way to meet demand and retain customers. These customers want less separation and more intimacy. The further the distance we remove from the communication between people, the less connection we feel. The less personal we interact, the weaker the connection. The chatbot deletes “person” in “Personalization”.
For more and more non-millennials, chatbots will increase the distance between your company’s solutions and customer loyalty.

Do not spread the difference

Does the same robot used for marketing queries have the same functions like customer service? Can robots effectively cross-sell new products in a customer service environment? The combination of automation and human-computer interaction may work best.
Careful observation of your processes and interactions can reveal where the robot can and cannot work. This does not mean that you cannot enjoy the efficiency of a chatbot. This simply means that you may need a customized solution where designers and technicians work together.

The ideal sales selection process may start with a simple combination, allowing you to automatically present simple answers to attract potential customers. If the engagement stalls, hand it over to personnel immediately. You are less likely to reduce lost customers and at the same time generate better brand equity.
For common customer service issues, activate the robot. However, once the problem confuses the robot, your system can immediately connect your customer with the CSR team. Companies like Amazon are doing well. One bold move is to simply ask customers ahead of time what they want. Imagine a chatbot that allows you to choose a website? Many companies have already done this in their call center operations.

If you are 28 years old, you may prefer not to talk to people. If you are over 50, you are likely willing to wait and talk to the good people on the phone.
If you are excited about AI, especially chatbots, then you are not alone. Find products that suit your needs and customize processes for your customers and potential customers.

Also Read: Amazon Prime To Retire Soon

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