The demand for AI-based customer service solutions is on the rise.
The global AI-enabled chatbot market is expected to reach a value of $4.6 billion by 2026. This landscape is accelerating thanks to increased machine learning tools, natural language processing, and demand for greater customer experiences.
Conversational AI enables enhanced communication between customers and brands while paving the way for competitive differentiation. The question is, should your contact center be leveraging a conversational bot?
What is a Conversational Bot?
Notably, a conversational bot isn’t just another name for a chatbot. Instead, these tools are advanced solutions that augment your customer service and support teams with advanced machine-learning concepts.
Conversational AI bots can understand natural language in written text and speech and respond to clients like human beings.
As a tool for automating customer support experiences and empowering self-service opportunities, conversational bots can go above and beyond that essential chat experience. They allow you to provide customers with a more personalized experience while reducing service costs and keeping high performance levels.
The Benefits of Conversational Bots
Conversational bots have a number of potential benefits to offer in the right environment. They can assist with sudden increases in call volume, provide businesses with much-needed agility and scalability, and even help your business to outshine other brands.
For many organizations, the most significant benefits of conversational bots include the following:
- Engaged customers: Conversational bots facilitate live, human-like conversations for rapid customer service. Like traditional chatbots, they can provide your customers with the 24/7 service they demand in today’s challenging landscape. However, unlike basic bots, conversational tools can respond more effectively to actual human language. Natural language capabilities help bots to understand the context and intent behind words, leading to more meaningful discussions.
- Superior User Interface: Compared to traditional bots, conversational solutions offer a much more immersive and streamlined form of service. The ideal solutions can allow for discussions including rich media like video, audio, images, and documents. These tools can even guide your customers through specific processes step-by-step. All the while, your consumers get fast-paced service without waiting for human agents.
- Improved agent experience: Conversational bots aren’t just effective for enhancing the customer experience. These tools can also deliver a better “Total Experience,” boosting the performance of your business and teams. With more conversations and queries managed by bots, you can reduce the repetitive tasks agents are exposed to daily. This means your team members have more time to focus on complex questions.
- Empower users: Today’s customers are increasingly looking for opportunities to solve more issues and complete more actions independently. With conversational bots, they gain access to a simple solution to help them resolve problems quickly. As self-service becomes increasingly popular for customer support, these tools will become more essential. Today’s customers are beginning to expect at least some opportunity to address issues on their own before contacting a support team.
- Agility: Conversational bots can scale with your business to suit changes in demand and new expectations. In an ever-changing world for CX, these solutions can be as agile as your business needs them. The result is a business capable of staying ahead of the trends and outshining the competition. You might even find your solution helps you to grow your business by allowing you to reach more people and increase your customer base.
How can companies best utilize Conversational Bots?
Like many forms of AI assistants in the modern world, conversational bots are flexible enough to adapt to various use cases. The right solution providers will allow you to customize your bot to suit your needs. This means you can create a host of different kinds of bots for everything from customer service and sales to financial services.
With various security options and controls, you can create bots specially designed for government agencies, retailers, or healthcare. You might even develop a bot to support your IT helpdesk and empower your hybrid and remote agents. Just some of the potential uses for bots include:
- FAQ bots for answering questions
- Stock availability bots
- Product finders
- Problem-solving assistants
- How-to instruction bots
A conversational bot could be the way to go if you’re looking for a way to deliver quick and efficient service to your customers in an evolving landscape without spending a fortune. These powerful tools adapt to your business structure and have a memorable experience for your target audience. They can even assist your team members in becoming more productive.