Rise of the Chatbots: How AI-Powered Chatbots Can Revolutionize Customer Experience.

In the Age of the Customer, Customer Experience (CX) is just as important as the product. Businesses recognize the need to connect with customers instantaneously. And, as consumers continue to embrace automated self-service, business leaders are becoming aware of their benefits. It’s clear that AI-powered chatbots have the ability to significantly improve customer support by means of providing immediate satisfaction.

Research has shown that 82% of customers have stopped doing business with a company following a bad customer experience.

AI can help to analyze what customers are saying to how they’re saying it (in real time) and can guide sales agents toward the best response and fastest resolution. AI-powered chatbots allow agents to answer more qualified chats, help deliver priority routing for complex issues, lower handle time, and increase conversion. An AI-Powered chatbot could intervene straightaway and deal with complaint or question in seconds. In fact, 53% of customers would happily message than call a customer service agent.

What is an AI-Powered Chatbots?

A chatbot is a machine that has a conversation with humans via text or audio. AI-powered chatbots are smart which uses Natural Language Processing (NLP) and Machine Learning (ML) to better understand the intent of the human and provide a more natural, near human-level communication. They are usually integrated with CRM platforms, helping brands establish a unique brand image, build stronger relationships with customers, and provide highly personalized experiences.

According to Juniper Research Chatbots are expected to cut business costs by $8 billion by 2022.

Here’s How Your Brand Can Improve Customer Experience With Chatbots:

Seamless Live Chat Journey.

A study conducted by PwC revealed nearly 80% of American consumers feel that speed, convenience, knowledgeable help, and friendly service are the most important elements of positive Customer Experience.

Now, customers can engage with a chatbot, in the same way, they would in an online conversation with live customer support representatives, So the learning path for customers to engage with chatbots is practically nonexistent. AI-powered chatbots use Natural Language Processing (NLP) & Natural Language Understanding (NLU) methods, that can analyze the customer’s inquiry and deliver a response that meets the customer’s needs. Many chatbots can also seamlessly integrated into the company’s website or mobile apps, which can save the customer time & trouble of searching the company’s online resources for the answers they need. Chatbot also reduces the initial response time with the customers, which helps to bring down the resolution time which is an important metric in customer support.

24X7 Customer Experience.

Live chat support staff need sleep but chatbot doesn’t.

In this era of Digitization & Technology, the world is becoming smaller. Nowadays customers are accessing their brands every single minute, every day. Also, they expect prompt responses from their brands too. In such cases, Chatbots provides complete assistance, eliminate the dependency on humans. Chatbots offer customers opportunities to get answers to their questions at any time, so they don’t have to wait for a response from a voicemail or email message. Chatbots provides a consistently friendly and on-brand voice with these reasons chatbots provides an elevated customer experience.

Say Good-bye to Interactive Voice Process (IVR).

It’s easy to visualise this scenario. I need to understand the unfamiliar transaction on my bank account is. So, I dial the helpline of the bank and get to the IVR. Even after pressing a minimum of 10 buttons the IVR still not able to understand my query & can’t answer it alone. So, I am asked to wait to talk to a customer service representative. The wait is for over 15 minutes where I hear music that I don’t want to. And just when I hear that I am the next person & my call will shortly get connected to an executive, the line gets disconnected!

Now switch to another scenario where I am again looking to understand the unfamiliar transaction on my bank account. I log in to my account online where I can chat with an AI-powered virtual assistant to get my query resolved within seconds. Now, in this case, there is no pressing of buttons, no long wait times & absolutely no annoying music. This is how AI-Powered chatbot can help customers to lead them towards either an answer based on their queries or to a human representative with less IVR-induced frustration.

Tailor & Personalize your brand.

There is no denying that chatbots can greatly enhance the interaction of a customer with the brand. An AI-Powered virtual assistant can efficiently strengthen the relationship of the brand with their customers by organizing & analysing the customers’ behavioural data like their purchase history and customer service inquiries which helps to provide them with a personalised recommendation & Also, used to engage more customers through targeted marketing campaigns. These interactions are so personalized & specific that the customers do not need to read winding documents to resolve their queries. This will provides Brands with enhanced customer engagement.

Conclusion

Chatbots aren’t just notification tools — they’re a brand’s automated assistant.

Brands are defined by the experiences they deliver. Technology meets creativity with the way chatbots are used to further brand messaging. You can choose to design the personality, language and tone that your chatbot will use when addressing customers to be in sync with your brand image. Overall, chatbot technology looks very promising, Businesses must leverage this technology to provide an enriched and personalized experience for their customers.