A refresher on cutting down on customer service costs with the usage of chatbots

The last couple of years have witnessed a rapid surge in on-demand messaging. This trend has resulted in a massive shift in the manner how consumers tend to communicate with brands. Today, an increasing number of companies are using Conversational Marketing Platforms and integrating chatbots into their customer service process. Chatbots are particularly considered to be absolute game changers industries where there is high-volume customer interaction like banking, insurance, and healthcare.  This technology aids in saving more than four minutes on an average per customer inquiry as opposed to customer service agents answering the calls. This results in high success rate per interaction.

The business landscape is getting fiercely competitive with every passing day. This has caused an increase in the need of a robust customer service. Implementing conversational AI chatbot goes a long way in allowing companies to manage a large number of customer queries in a comparatively short period. Even though chatbot implementation does involve a certain amount of investment, it ideally is way lower than the traditional customer service model that largely involves salaries, infrastructure, training and multiple other resources. Here are some of the ways in which the usage of chatbots can effectively help a business:

• Automate day-to-day business processes, as well as allow the customer support team to concentrate more on certain complex queries
• Scale their chat support in a systematic manner during the peak hours, so as to deliver quality support and enhance customer satisfaction
• Facilitate new customer service models that contribute to an increase in  brand face value and credibility

Contrary to the popular belief that the core advantage of a Conversational Platforms Chatbot involves answering queries and offering customer support, chatbots offer contextual support as well.