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Think Chatbots!

What are Chatbots and Why Should You Be Using Them?

Chatbots are becoming an increasingly common fixture in the business world, with a significant proportion of businesses, particularly small and medium-sized enterprises (SMEs) and startups using them. This trend is only set to increase, with the global market for chatbots expected to grow to over $9 billion by 2024 (source: https://markets.businessinsider.com).

In this article, we look at why chatbots are so useful for businesses of all kinds, and how you can incorporate them into your organization.

What is a Chatbot?

‘Chatbot’ is the term given to software that is specifically designed to talk with humans, usually via text. The sophistication of chatbots varies hugely, but they all essentially offer different responses to human input, mimicking normal conversation.

Many of the more advanced chatbots are an example of the practical application of artificial intelligence (AI) in business and are likely to get far more sophisticated in the coming years.

Why are Chatbots so Useful?

Businessman watching chatbot application on a wall 3D rendering In the past, customer service departments and customer-facing industries such as retail needed to rely on human labor for any interactions with the public, either via phone or in person.

The problem with this is that almost all companies needed dedicated customer service departments, presenting an unavoidable and significant expense. Recruitment, training, and running costs result in a lot of money being outlaid as a matter of necessity – something that can be very problematic for any small business or startup.

In the last couple of decades, things have changed quite drastically. Massive advancements in relevant technologies such as AI, machine learning, and natural language processing, have made chatbots good enough at talking to replace human employees for many tasks.

This ability to reduce workload for employees is the reason for the growing success of chatbots. Put simply, they make businesses more efficient and reduce costs without sacrificing service quality. Chatbots are now undeniably a crucial part of any organization’s effective AI and automation strategy.

How Real Businesses Use Chatbots

Almost every industry imaginable is currently using or could benefit from using chatbot technology. Here are just a few of the industries which stand to gain the most.

Customer Service

Customer service is probably the most common, and effective, use of chatbots in the business world. In fact, it’s almost inevitable that you have conversed with various chatbots online when asking a question, perhaps without even knowing it.

In practice, most companies still require some real employees in customer service roles, but chatbots simplify the entire process. For basic queries, chatbots can often handle everything without humans getting involved at all. For more complex issues, they can help to save time and redirect people to the appropriate departments, all while reducing waiting times for customers.

Marketing and Sales

Chatbots are now so advanced that they can even be useful tools in the marketing process, helping to automate many elements that would have previously required expensive, time-consuming human labor. For example, bots can be set to contact or auto-respond to targeted people on social platforms, answer questions about products or services, and generally spread awareness online.

In terms of the sales process, chatbots can be used to contact possible leads, organize appointments, and more, freeing up time for employees and extending the reach of sales teams.

E-Commerce

E-commerce is steadily gaining more and more of the share of the retail market. Running costs are far lower than physical stores, and fewer employees are required to keep things ticking over. For the times when customers do have questions or need to make a complaint, chatbots can speed up the process and ensure they are dealt with in a timely fashion while keeping costs down simultaneously.

How Can Eaglera Help You Use Chatbots?

Chatbots are now an affordable and completely accessible automation tool for any business, whether you’re a startup, small or medium-sized, or a multinational giant.

At Eaglera, we help businesses from across all kinds of industries to implement efficiency-boosting software solutions into their operations, and chatbots are just one element of our approach.

To find out how our efficiency consultants can help you to fundamentally improve the way your business operates, get in touch and organize a FREE consultation.

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