What can an AI bot do?
There are multiple tasks that AI bots can help businesses with.
As bots are available at any time, they are right there when a customer needs help – it can help choose a relevant item in a shop, or inquire about price options, as well as adjust to a customer’s mood and understand their way of describing things.
Unlike pre-built bots, AI-powered chatbots are able to answer more precisely in a short period of time as they can take into account the context of a question and won’t need to ask additional questions to uncover intent, which would be the case for pre-built, off-the-shelf solutions.
Keeping lead response time low
According to Harvard Business Review, lead response time is a critical metric for businesses to convert leads into clients. The customer will wait no longer than 5 minutes before losing interest in a provided solution. Bots help answer customer questions in no time whatsoever!
PayPal decided to pass on a pre-built solution and implemented its custom NLP-powered bot to provide more precise answers to its clients straight away. Normally, a rule-based chatbot would ask additional questions to narrow down the context of the question asked.
A NLP-based bot can identify user intent and provide an answer much faster in comparison to its less advanced off-the-shelf substitutes.
Scale your customer service effort (chatbots work 24/7)
Around 265 billion support tickets are submitted every year resulting in $1.3 trillion direct costs. While bots will not replace a support department fully, they will certainly reduce costs as human assistants maintain their focus only on the most crucial tasks – those where a human being is required.
AI-powered bots are able to collect user information from various platforms to later build a comprehensive 360° customer profile. The information collected can be used to make more personalized offers. As a result, the relevance of in-bot product suggestions increases, so does customer satisfaction from online shopping. This is also a starting point for brands to build their customer loyalty.
The more information you collect about your customers, the more accurate understanding of their needs you and your employees will get. As a business owner, you can use the information bots collect to derive some insight and build a hypothesis on the demand for your products.
Your bot will also benefit from interacting more with customers, and as a result, collect more data – it will identify new patterns and provide more precise answers in the future. Please bear in mind – this applies only to NLP-powered bots, pre-built rule-based bots are not able to derive patterns from previous answers.