Customer relationship management (CRM) is of immense importance for every successful business. Nowadays, the number of businesses taking advantage of messaging apps, chatbots, and artificial intelligence (AI) to improve their CRM is growing.
Today’s strong and growing interest in chatbots and AI is driven by the fact that these intelligent digital assistants can always be available to resolve customer requests affordably, rapidly, and consistently.
Using Messaging Apps, Chatbot and AI for Businesses
In our modern days of living, the demand for faster communication is increasing. It’s no surprise that agility in customer service plays an essential role in today’s world.
AI is drastically changing the world of business, and chatbots, powered by AI, are turning into a feasible customer service channel. Chatbots have already revolutionized the way big corporations deal with their clients and solve customer problems more practically. Chatbots are even considered as a new generation of apps after websites and mobile apps.
More and more companies are starting to use chat functions to complement or reduce human phone centers. Soon, basic human-to-human chat conversations will become obsolete, according to experts in the field. In the upcoming 3 -5 years, chatbots will become almost ubiquitous, and work seamlessly with human customer support agents to deliver efficient, personalized responses to customers.
Based on a Harvard Business Review survey, customer service causes a huge effect on the corporate image of companies. According to the survey results, 65% of the people having contacted the customer service department of several companies weren’t satisfied by the experience.
Tech research giant Gartner predicts that by 2020, the average person will have more conversations a day with bots than with their spouse.
Today, nearly 80% of companies are considering chatbot integration in their customer care strategy by 2020. 62% are expected to make this real by 2018.
According to Rob Brown, associate vice president at Cognizant’s Centre for the Future of Work, the rise of chatbots is caused by the popularity of messaging apps, the growth of the app ecosystem, advancements in AI and cognitive technologies, conversational user interfaces, and a wider reach of automation.
When it comes to instant messaging (IM) apps like Pinngle, they’re expected to transform marketing. Mobile chat apps are projected to serve as a perfect hub for payments and purchases, entertainment and communication.
Messaging apps like Pinngle are already popular in ecommerce, and are being used to improve customer service and sales.
Advantages of Chatbots and AI for Customer Service
The implementation of customer service focused technology allows companies to solve almost 95% of operation demands coming in via telephone or chat for corporate, website or social networks. Service time gets reduced by up to 5 times, thus making operating costs fall by 66%.
Obtaining a new customer is, on average, 5 times more costly as compared to retaining an old customer: chatbots are immensely helpful in increasing customer loyalty. There are brands that are already using the system in their routine:
- Food company Pizza Hut
- Makeup company Sephora
- Transport company Uber
- Ecommerce shopping website eBay
- Credit card company American Express
Chatbots and AI-powered communication suggest around-the-clock interactions and customer service. Through natural language processing (NLP), chatbots are now able to understand language almost as well as regular service representatives and answer like a human.
In a mobile-first world where people are looking for faster and easier ways to access information, this type of communication is warmly endorsed. When used in customer service, AI and chatbots provide:
- 24/7 availability and support – Customer service is all about convenience. This is a great way to deliver basic support through a chatbot that never sleeps.
- No more wait times – Thanks to chatbots, there’s no need to wait for the next agent.
- 100% personalization – Chatbots gather customer data from support interactions and use it to make interaction with customers more personalized.
- Proactive interaction – By sending a simple email or text on a customer’s birthday, or asking if the customer is enjoying the brand’s product/service, chatbots win brand loyalty.
- Efficiency and cost-effectiveness – Companies can train a chatbot in just a few hours or days, which can’t be said about their human colleagues. In addition, companies can train chatbots 24/7 without taking off nights or weekends. Efficiency helps companies reduce costs as a result.
Here, it’s also important to note that, on the other hand, 1 out of 5 clients reports being frustrated by contacting an AI-enabled customer service agent instead of a human. This frustration is partly caused by the fact that people don’t trust the technology or just enjoy talking to someone else.
The latest research shows that customers need fast and frictionless solutions to their problems and answers to their questions. Since AI is completely transforming the world of business, particularly in terms of CRM platforms, businesses can’t stay behind the advancements in technology.
What’s the biggest benefit of using a chatbot in customer service, according to you? Don’t hesitate to add your comments below.