Conversation drives sales and this is a well-known fact. For customers, it is important to have someone to ask questions and clarify doubts, someone who could guide them and recommend them the best option. Today, conversations can be automated, and today there is no need to have a physical person attached to each customer. Nowadays, conversational commerce became a fast-growing buzzword and chatbots play a key role in this field. Today, I would like to discuss why chatbots became so popular and why e-commerce and m-commerce companies heavily invest in it.
Chatbots have become a necessity for business strategies. Chatbots have influenced the industry of different sizes and business origins. In recent years businesses are eagerly looking for new ways of integrating this conversational solution: Chatbots. Utilizing chatbot helps in engaging the customer better and the process becomes more effective. According to a VentureBeat report, the global chatbot market is predicted to surpass $1.34 billion by 2024.
Be it ordering food or asking for consultation related to investments or funds, people probably will deal with chatbots today at some or the other point in a day. For those, who are aloof to tech news in the recent past might be surprised to see that chatbots are revolutionizing the game of customer support and service as we know it in a never before manner. Though a CRM software is an excellent tool when it comes to automating and streamlining marketing and sales operations, a chatbot has the potential to drive your CRM strategy ahead of the curve. This is the reason an increasing number of brands are leveraging the power of chatbots to drive sales, improve customer satisfaction and conversion rates. Yes, CRM is distinctively positioned to reap the benefits of AI-powered chatbots.
Everyone keeps hearing the word " Chatbots" all the time and end up wondering about its use cases and applications it holds for businesses and consumers alike. Chatbots have been in the news for long and yet we are seeing the rise of Chatbot now. With increasing digital-savvy customers, businesses across the world are warming to the concept of Chatbot. Statistics are telling the true picture of growing acceptance of Chatbots by the B2B, B2C, SaaS, Start-ups, SME among others as it increases engagement with the online visitors while helping them making a purchase online. Gartner predicts that chatbots will power 85 percent of all customer service interactions by the year 2020.
AI powered customer service has picked up its fastest pace. It is a new revolution, which every industry is working on, to transform conventional customer service into AI-powered digital solutions and improve every aspect of customer journey including brand awareness, product knowledge, customer acquisition, after sales support and loyalty programs. According to marketing gurus by 2020 more than 80% of customer service will be conducted without engaging humans, it will be taken over by AI-powered Chatbots. With advanced systems powered by automated solutions, users can now book a restaurant reservation, order a pizza, book a movie ticket, hotel room and even make a clinic appointment. Customer service industry is gaining much momentum especially due to disruption of Artificial Intelligence – a technological breakthrough that has taken almost every business industry by storm.