FEATURED ARTICLE — October 28th, 2020
Time is money in business, and chatbots can save an organization ample time by automating various operations, like customer service and marketing, to optimize costs while also improving the customer experience. Besides taking up repetitive tasks and reducing the burden on your existing staff, chatbots kill customers’ wait time, enhancing their overall impression of your business.
According to IBM’s study, businesses can save up to 30% on their customer support costs by integrating a chatbot in their frontline staff.
Besides customer support, chatbots also double up as sales and marketing tools. Even data suggests that modern users are open to purchasing from a chatbot.
Millennials, who form the largest percentage of users for many companies, are twice as likely to use a chatbot that assures a personalized shopping experience. The benefits of chatbots are also not limited to any industry. According to Chatbots Life, the top five sectors that have benefitted from the incorporation of chatbots are real estate (28%), travel (16%), education (14%), healthcare (10%), and finance (5%).
As you can see, chatbots can revolutionize your business’s core aspects with substantial benefits, both in terms of revenue and customer experience. Here are some key benefits of using chatbots in your business that you shouldn’t miss out on:
Chatbots Help in Reducing Operational Costs
A bot launched by JP Morgan Chase & Co can analyze complex legal contracts at a much faster rate than humans. This bot named COIN can complete several labor-intensive tasks in a few seconds, which otherwise used to take lawyers over 360,000 hours a year to complete. Shocking, isn’t it? Well, this is just one example of what chatbots can achieve...
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