How Can a Conversational Chatbot Add Value to Your Business?

Chatbots are evolving by the day and changing the way businesses do communication with customers. From simple rule-based bots to advanced AI-powered virtual assistants, they come in all types and have literally transformed the landscape of customer service, sales, and marketing. 

And when the technology is growing rapidly, it’s only obvious for chatbots to become more powerful and more beneficial for enterprises. 

While simple bots have some limitations, the emergence of conversational chatbots has brought a tectonic shift to the manner of engaging with the audience. 

With a conversational chatbot, there are no hassles of rules or conversation flows as they use artificial intelligence, machine learning (ML), and natural language processing (NLP) for responses. 

Such bots are powerful enough to easily decipher user questions and send automated responses in quick and real-time.

In this blog, we will discuss a conversational AI chatbot and look at how such a bot can positively impact different aspects of a business.     

What is a Conversational Chatbot? 

Conversational chatbots are computer programs with the ability to converse with users in natural language, understand the intent and respond based on the rules and data. These chatbots are built using artificial intelligence (AI), machine learning (ML), and NLP technologies and therefore can process language and comprehend human speech. 

One of the top features of a conversational chatbot is to decipher verbal or written questions and enable responses with the right information. For a business, these chatbots can prove very beneficial in handling customers’ complaints or queries and maintaining two-way communication in an effortless manner.  

Unlike rule-based chatbots, a conversational chatbot solution can easily understand the meaning behind the words which makes them able to decide even those questions that have misspellings. By using such a chatbot, a business will find it easy to provide a great user experience and achieve a positive impact on the bottom line.       

Benefits of Using Conversational AI Chatbot 

Chatbots that deliver pre-defined answers are no match to the language processing ability of conversational bots. Now, businesses can deploy a bot and replace the manpower without ever having an effect on the communication with customers, and that too, positive in nature.

Benefits are many when an enterprise uses a conversation chatbot to support various aspects of the business.  

• Human-like Conversations – Robotic conversations may be ideal for small or mid-sized businesses but are surely not fit for all. Big organizations where customer service is a key aspect need a chatbot that has the conversational ability to ensure support to customers through the journey stages. 
• Improved Customer Service – The quality of customer service improves notches up when there is an AI-driven, ML-powered, and NLP-using chatbot. Such a bot will be able to understand customer queries of any complexity and enable real-time and quick responses without requiring any human involvement. 
• Personalized Interactions and Offers – A conversational chatbot for websites can leverage user data and analytics to customize responses and deliver answers in tune with the demographic characteristics of the audience. This ensures value to each and every customer that connects with the business at any level.
• Boost to Conversion – A business can engage customers better when it uses a conversational chatbot. And when customers are engaged better, or when they get timely and instant answers to their queries, there is always a probability of more conversion.   

How to Use a Conversational Chatbot to Grow Your Business?

Chatbots are one of the must-have tools for businesses to add value to different aspects of operations. They can not only affect the delivery of customer service but can also streamline processes and systems across marketing and sales as well. And using them smartly can ensure tons of value for your enterprise. 

Your business can use a conversational chatbot service in a variety of ways and achieve all-around growth. 

1. Give A Data-driven Approach to Customer Engagement 

For a business, customer engagement is everything. It has the potential to make or break the foundation. In fact, engagement is essential because 86% of the buyers will pay more for a better customer experience.  

With so much value attached to engagement, it’s obvious to see why more businesses want to use advanced chatbots to excel.  

Many understand the value of using conversational AI chatbots as they can drive engagement based on user data. Such a bot can also make interactions feel more interactive. 

When a conversational chatbot solution is part of the customer service delivery process, consistent, coherent answers become a reality. This is also how brands are able to offer quick and real-time responses. 

With such types of interactions, it’s natural for the level of engagement to boost up.  

How does a conversational chatbot enhance customer engagement? 

• Chatbots that use AI, ML, and NLP technologies can analyze responses based on customer details and history and make engagement personalized. 
• A conversational AI chatbot can provide quick one-on-one responses which is always a valuable addition in supporting customers through the journey.   

2. Boost Your Lead Generation Across Customer’s Journey

Engagement is always at the root of leads. Your business just can’t generate quality leads if it does not know how to engage customers better. And when it comes to engagement, chatbots always appear as a great tool. 

You can use an advanced conversational chatbot platform and deliver personalized messaging through the customer journey. Many companies use chatbots and live chat in combination to converse with customers and generate leads. 

Whether yours is an e-commerce enterprise or a real estate business, a chatbot can always prove handy in the matters of lead. You can deploy the bot on your website, and start the proactive engagement and this can give a huge fillip to engagement. 

Tips to use conversational commerce chatbot for lead generation   

• A chatbot can quality leads through conversations and questions and then direct the potential customers to the sales team for conversion. 
• The use of a bot is also helpful in giving customized recommendations to customers based on their journey with your brand and this can also enhance sales conversions.  

3. Track and Monitor Consumer Data For Insights 

Data is king. When you have data, it’s always easy to gain a deep insight into customers and their behaviors. In fact, brands can leverage data to track purchasing patterns across the web and use analytics to serve customers better.

And when we talk about tracking and monitoring user data, chatbots always emerge as the best tool. They have built-in features for analytics that helps companies use the data to market the products differently.

Similarly, bots can be used for feedback and also for personalized offers, and both are quite helpful in getting consumer data. 

How to use chatbots for consumer data? 

• You can use a chatbot for engagement and gather key demographic details like age, name, contact info, etc and the information can be used for creating a customer profile. 
• Using the bot can help in sending regular and timely push notifications and offering relevant product details and content suggestions. 

4. Bolster Your Conversational Marketing Strategy 

Conversations are always at the root of customer engagement. And brands that know the art to converse well always perform better at the front of engagement. This very concept can be used in devising a conversational marketing strategy where companies can use real-time customer interactions for sales.

Using a conversational chatbot solution for ecommerce, it’s always easy to initiate coherent and meaningful conversations which ultimately helps buyers through the sales funnel. Many successful enterprises now realize the value of leveraging interactions to create great experiences and build relationships with customers. 

So, you can also think of using chatbots for marketing as it will help engage customers through targeted messaging, therefore, driving the conversion rate. 

How to implement a conversational marketing strategy?

• Allow visitors to start conversations on the website or reach out to them proactively so that the stream of interactions starts and chances of conversions remain high. 
• Use a smart bot to respond to customer questions individually as it will minimize the frustrations that are quite obvious with the support line or IVR system.      

5. Automate Key Processes across Departments 

Automation is one of the major benefits that a conversational chatbot brings. You can deploy a smart chatbot and automate key processes across customer service, marketing, and sales. A study says that almost 40% of all customer interactions will be automated by next year.  

In support, the use of chatbots means a business can cut costs that would otherwise occur on maintaining a team of reps for handling customer queries. Together with live chat software, a bot can prove a powerful tool to handle questions of any complexity and ensure amazing experiences for customers. 

Similarly, many brands now use conversational AI chatbots to market products based on analytics and user data. Such type of marketing always proves beneficial for being real-time, quick, and personalized.

AI bots can also help in boosting sales conversions by contributing to lead generation and by bringing prospects down the funnel. 

6. Ensure a Hassle-free Customer Journey 

Customers who are not engaged properly with a brand may feel unhappy. And this could be one of the key reasons why they switch to competitors. And if your business is not engaging them well, it means, there is always a risk of losing them halfway through the sales funnel.

With a conversational chatbot platform for ecommerce, you can effectively engage customers, be always available for them and answer their queries at each stage of the journey. This can help reduce customer churn and make the customer journey smoother.

By using a smart bot, you can guide customers through various stages of the purchase cycle, solve issues as and when arise and minimize the dissatisfaction that often happens in the lack of support.  

How to add value to the customer journey?

• Use the chatbot to enrich customers with additional information on products, services, or anything that helps customers. 
• Recommend products or suggest content in tune with the specific stage of the journey so that customers can get the value down the marketing funnel.  

7. Devise an Omnichannel Strategy 

Customers love the flexibility to choose the channels of choice for connecting with a brand. And you can provide that flexibility only when there is an omnichannel strategy in place. After all, 80% of customers prefer the omnichannel strategy due to the seamless experience it provides. 

With such a strategy, your business also stands to boost key metrics like customer satisfaction, customer lifetime value, etc.  

The good thing, you don’t need to invest much in building a bot that ensures consistency of support across channels. You can find a reliable platform and build a chatbot that can work well across all service channels. 

Once the chatbot is ready, your business will find it easy to leverage past interactions to boost future conversations with customers.        

Benefit Your Business from Conversational Chatbot with REVE Platform  

A chatbot is a great tool that can help your business in many ways. And if you have the right bot at your disposal, you can gain amazing value on the customer engagement and conversion front. 

We, at REVE Chat, know exactly how and why your business needs a conversational chatbot as it can help engage with customers more meaningfully.

You can thus benefit from the omnichannel platform and take a solid step towards amazing customer engagement.   

Since our platform is advanced, you can use it to build a feature-rich chatbot and start interacting with customers like never before.  

Such a chatbot can assist you in many ways and ensure customers get help at each stage of the journey.

Plus, you can use such a chatbot together with live chat software, co-browsing tool, and video chat software to make conversations more valuable for customers.  

Make Conversations Part of Your Chatbot Strategy with REVE  

Your business needs the best conversational chatbot if it plans to take customer engagement to the next level.   

With the REVE platform, you get a chance to build a chatbot that is future-ready and that delivers all the value conversations can do.  

You can start a free trial of the chatbot and see how it can elevate your Android engagement.

So, benefit your business from the chatbot of choice and start delivering an amazing experience to your customers.