Top 6 Ways E-Commerce and Banking Organizations will Benefit from Chatbots

It may sound strange, but e-commerce and banking organizations almost work on the same principle. If they don’t get back to their customers soon enough, they’ll most likely lose the customer to the ever-increasing competitors. Thereby, it is important for both e-commerce and banking organizations to be available for their customers 24/7 at any cost.

As per a survey, about 44% of U.S. customers prefer chatbots over humans as customer support.

Chatbots have been around for only a few years and they’ve already gained enough popularity that more and more online businesses are using them to resolve the customers’ never-ending queries. Most of all, chatbots are cheaper and can save up to 30% cost on resolving customer requests per year.

1. Enhance User Experience

Let’s discuss an example: You’re an entrepreneur who spends most of his time traveling. You’re into some products an e-commerce store sells online but you have some queries. Would you wait for 3-5 business for the answers if you mail them? Definitely no!

At the same time, if you have an option to talk to a chatbot and ask about delivery duration, charges, product, and any other thing you’d want to know, you’re most likely to become a regular customer. That’s how chatbots are revolutionizing the user experience in e-commerce stores. For the same reason, the use of chatbots in banking has increased over the past few years.

2. Generating More Leads

Those days are long gone when cold calls or newsletters were enough to take your online business to its full potential – be it an e-commerce store or banking organization.

The advent of innovative chatbots has revolutionized the customer support phase – evolving your e-commerce or banking website into a less-frustrating platform. Whether you’re a finance manager or e-commerce manager, you’re always on the verge to stay one step ahead of the competitors. Thus, now is the right time to add a unique feature which can help in generating more leads.

3. Frequent Feedback Collection

The advancement in the natural language process and computing has given rise to the more generic chatbots which are able to handle more convincing conversations. In fact, AI integrated chatbots are able to handle dozens of customers’ queries that are redundant.

For example, if you get over a hundred questions about delivery charges or duration per month, you can simply program your chatbot to answer accordingly.

Moreover, if you’re looking to enhance your bank’s service and eliminate the downsides, the use of chatbots in enhancing the customer experience and asking for feedback at the end of the call has shown considerate outcomes for many banking organizations.

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