5 Ways Chatbot Services Can Help Your Small Business

Written by Manish Bhardia

March 9, 2022

5 Ways Chatbot Services Can Help Your Small Business

Artificial Intelligence (AI) and Machine Learning (ML) is now essential need for running a business smoothly in today’s intensely competitive world. Some of the major business verticals like marketing, recruitment, and customer services heavily rely on data analytics and business intelligence fueled by AI & ML. Chatbot services are one of the most recognizable forms of AI.

According to research by Oracle titled, “Can Virtual Experiences Replace Reality?”

  • 78% of brands say they have already implemented or are planning to implement artificial intelligence and virtual reality by 2020 to better serve customers
  • 80% of sales and marketing leaders say they already use chatbot services in their CX or plan to do so by 2020

Chatbot services are extensively being used by large organizations to enhance the productivity of their customer services, sales & marketing, and recruitment divisions. However, a large number of small businesses are yet to experience the wonders possible by the implementation of chatbots. The question is, “How small businesses can use chatbots?”

In this post, we will answer this query and talk about 5 different ways chatbots services can help your small business.

Why should you consider a chatbot for your small business?

There are several benefits of using chatbots for small businesses. We will talk about those benefits in the latter part of this post. Let’s get some facts:

A Gartner survey says, “46% of SMBs (surveyed in the study) were currently using or planning to use a chatbot within the next two years.” The study also found out that another 21% of the surveyed SMBs were evaluating chatbots for use.

 Potential benefits of Chatbots

Therefore, it’s the right time for small businesses to start using chatbots services. Here are the 5 ways chatbots can help small and medium-sized businesses:

One – Customer Support

We are living in a world that is more focused on self-service. Be it getting a burger at a nearby McDonalds, getting an UBER, or ordering food, modern customers prefer the self-service model. They prefer tapping their fingers rather than dialing a number.

In Q3 of 2015, the top four messaging apps surpassed the top four social networks in the total number of active users.

This explains why your business needs to be on chats. Here AI-powered chatbots come to your rescue. A chatbot service for your small business can do the following for you:

  • Chatbots can be an interactive version of your FAQ page.
  • A chatbot can be a replacement of your customer support executive for answering the most common queries asked by your customers. For out of context (or a very specific) query they can redirect it to your support team.
  • Chatbots never sleep or take a holiday. Therefore, the implementation of chatbot service for your small business allows you to offer customer service 24/7.
  • Chatbots answer the queries instantly so your customer doesn’t need to wait in a queue. They will get an instant response to queries.
  • Customer service Chatbots can reduce human error and customer issues can be resolved quickly compared to traditional customer service systems.

Two – Sales & Marketing

“As research from InsideSales.com and the Harvard Business Review shows, even if you wait just five minutes to respond after a lead first reaches out, there’s a 10x decrease in your odds of actually getting in touch with that lead. After 10 minutes, there’s a 400% decrease in your odds of qualifying that lead.”

With help of automated chatbot services, you can reduce the response time helping you convert more leads into sales.

Three – Increase Business Productivity

Running a small business and growing it with a limited number of employees is a challenge. Chatbots helps in increasing efficiency and overall productivity for a small business. Adding an AI-powered chatbot service can do the following for you:

  • Chatbots can automate low-value tasks focusing on those that add value to the company.
  • Chatbots can drastically reduce the volume of calls and emails within your organization saving a lot of productive man-hours.

 Four – Reduce Operating Cost

We already discussed above how chatbots increase the productivity of a small business. A custom chatbot can help reduce overhead costs by automating various business processes. Chatbots never sleep, take a holiday or go on coffee breaks therefore your business never loses productive hours.

Five – Collect Business Intelligence

AI chatbots are intelligent and predictive. They can remember the last conversation with a customer that helps in better responding to customer queries. They provide valuable insights related to customers. Besides, they constantly learn from interactions helping them become more effective with every conversation. Chatbots are designed to interact with the customers and ask predefined questions that will be then analyzed to understand their preferences, likes, and dislikes. On that basis, organizations can plan their personalized services and product specifications for the targeted audience.

Conclusion

Chatbot Services are a great value addition for any small business. The aforementioned benefits are enough to explain why as a small business owner you need to act fast and implement a custom chatbot for your business. In case, if you are not sure what to do and how to decide on what kind of chatbot service is ideal for your needs, get in touch with one of our chatbot consultants and leave the rest to us.

Recent Post

Related Articles

Integrating AI in Digital Pathology and Radiology for Comprehensive Disease Characterization

As a pathologist or radiologist, you understand that integrating artificial intelligence into digital pathology and radiology can lead to accuracy and efficiency in disease characterization. By using advanced algorithms, these technologies can help automate time-consuming tasks, uncover hard-to-detect patterns, and provide enhanced decision support.

In this article, we will explore the state of AI in digital pathology and radiology and how these innovations may transform diagnostics across various disease states. The potential to combine digital pathology, radiology, and AI stands for an exciting new frontier in medicine that can profoundly impact patient care.

Join us as we delve into the details of integrating AI for comprehensive disease characterization and discuss what the future may hold for this emerging field.

10 Common Use Cases of Data Science in Healthcare Manufacturing

As a healthcare executive, you know data science is revolutionizing your industry. But do you grasp its full potential? This blog explores 10 common use cases that demonstrate the transformative power of data science in healthcare manufacturing. Whether improving production quality or predicting patient outcomes, data science enhances decision-making and unlocks innovation.

Join us as we delve into real-world examples, illustrating data science’s expanding role. From personalized medicine to optimizing clinical trials, you’ll discover how leading organizations leverage data to raise the bar for efficiency, accuracy, and patient care.

Let these insights spark ideas on how data science can help your organization achieve its mission.

Digital Twin Technology in Healthcare: Simulation and Optimization with AI

You have likely heard of digital twin technology and its utilization in industrial settings, but did you know it is now being implemented in healthcare as well? When combined with artificial intelligence, this promising technology allows for incredibly detailed simulations and process optimizations that were not possible before.

In this article, we will explore how healthcare organizations can leverage digital twins and AI to enhance everything from resource allocation to patient flows. The potential benefits range from improved operational efficiency to more accurate disease modeling and treatment plans tailored to individual patients.

We stand at the cusp of a healthcare revolution, where care is hyper-personalized and informed by robust virtual environments. Join us as we unpack the workings and promise of this exciting new frontier in medicine.

Think AI