Do you know how to boost sales using chatbots?

Brands good at customer experience (CX) get three times higher returns on investments (stock performance) than CX laggards. (Source: Qualtrics)

Moreover, customer experience has become the need of the hour and competitive differentiation for brands to achieve their end goals: customer satisfaction and expectations.

To clarify, chatbots can serve the purpose, and it’s the most advanced solution to fulfill the needs of brands for excellent customer experience.

96% of customers admitted that customer service is significant in their choice of loyalty to a brand. (Source: Microsoft)

By 2024, Insider Intelligence assumes that consumer spending via chatbots globally will reach $142 billion—up from just $2.8 billion in 2019.

The way businesses are using chatbots for sales has completely changed with the advent of the latest conversational AI technologies. Chatbots can understand the user’s intent and provide appropriate solutions to their queries by accessing the database (history of their previous conversations). It has the capability to offer a highly personalized product or service suggestion that triggers the users to purchase the same.

Even chatbots can engage customers with context-relevant communication and provide the necessary information, which is helpful for customers to take further steps.

Also, they can collect the customer details and their interest, preferences and feedback/reviews that help the customer service agents to reach them with the right offers; chatbots can even perform this automatically.

Now you have some questions about how chatbots can really boost your sales and how you can achieve that. Before this, let’s first know

What Are Chatbots?

Chatbots are applications enabled by conversational AI and used by brands to communicate with customers with or without human intervention. Chatbots can be pre-programmed to perform certain tasks. Chatbots’ capabilities can vary based on their level of understanding and abilities. The more they train with various data sets, the more effective and naturally they can communicate with users.

With technology advancements, chatbots, along with big data analytics, AI, ML, etc., are becoming more skilled and capable of interacting with users just like humans or with minimum human intervention.

The attractive features (24/7 availability, automated breaking of language barriers, multi-channel communication, and many more) and capabilities of chatbots make the world deploy chatbots to deliver fast, reliable, and 24/7 customer service. 

Here are some of the sales chatbot statistics that will help you gain further understanding

• 57% of businesses claim that conversation chatbots can return substantial ROI with minimal effort.
• As per a business leader’s report, chatbots can boost sales by 67%. 
• 55% of businesses that deployed chatbots have experienced high-quality leads.
• 26% of sales begin with a chatbot conversation.
• 47% of users are free to do shopping on bots.
• Chatbots can result in 80-90% response rates.
• 35% of business entrepreneurs said chatbots helped them close deals.

How do chatbots boost your sales?

Now we have an understanding of what chatbots are and their features. But how can it help you to boost your sales? Let’s know!

1. Converting Your Site Visitors Into Leads

You can add chatbots to social media sites, websites, etc. Whenever someone visits your website, sales chatbots automatically engage the customer with a welcome message, ask for their concerns, collect details and provide appropriate information, moreover, it transfers the call to the concerned department if they cannot resolve the query.

Chatbots, after greeting, provide a menu option to the users so that they can move to the appropriate options. It filters your leads and also assists in offering guided customer service to visitors.

2. Increasing Customer Engagement

Chatbots are always ready with relevant information for every user with confidence and can respond in multiple languages. They can provide various options to the users to take further actions easily, like,

• Transactions, 
• Selecting a product
• Moving to other segments 
• And help the customers with products or services they are most interested-in based on chat history so that customers will not have time to look for other websites or competitors.

Moreover, they can achieve all this in a time frame without getting delayed or making the customers wait for the solution that is sometimes impossible with human agents. Chatbots with AI, ML, and deep learning capabilities can understand human language and emotions and provide answers accordingly. They can also take reviews or feedback or even conduct surveys from the customers to further enhance the customer experience.

3. Convert prospects to Leads.

Chatbots can assist your prospects at every stage of their customer journey, from first interacting with your brand to repurchasing the product and maintaining a customer relationship. Chatbots help the customers take their next step by providing relevant information via documents, links, or other sources. The bots will not make the customers wait. They will be ready with the latest inventory information, product upgrades, and all other offers, coupons and discount details to furnish the users. These will help the customers take further decisions easily and convert either into customers or drop off.  

4. Send Reminders to Complete Purchase

Chatbots hold the customer’s information so that they can send discounts, offers, and coupon codes to the users relevant to them. It can also be set to send automated alerts to the customers who had left the products in carts and forgot to checkout for any reason, like,

• When they got in urgent work, 
• Found the same product for a lower price, 
• Forgot credit card pin, 
• Or any other similar reasons. 

You can also use chatbots for various other reasons, like retargeting, engaging, cross-selling, upselling, or any other purpose.

5. Chatbots for FAQs

Answering frequently asked questions is a burden to the customs agents. You can pre-program chatbots with all the FAQs so that agents will be left to answer only the complex queries. Also, you can reduce the cost of hiring a more workforce to handle the business operations and improve productivity. Generally, hiring staff as customer agents for SMEs overburdens them.

Conclusion:

You can find many chatbots service providing companies in India. The major task is to find the right service provider for your company that meets its end goals. 

You can find chatbots with different capabilities, basic level to advanced level chatbots with AI-driven capabilities. It’s your turn to decide which one to opt for; for example- if you’re using chatbots only to send an automated welcome message or just for answering FAQs, you can go with the basic level chatbots. Similarly, for more advanced capabilities, you can deploy advanced-level chatbots. Even some chatbots vendors provide you with customized chatbots with a choice of your designs, language and abilities with no code chatbot. Smatbot is one such chatbot service provider that provides a free trial option to help you understand how it works and benefits you in gaining sales. 

If you want further details or help TO decide which chatbots are best for your businesses, contact our Smatbot team. We are glad to assist you 24/7.