We humans never stick to the same thing forever. Be it video games, songs, movies, cellphones, we choose something latest and trending over the former. Likewise, businesses are also choosing new and trending ways to provide customer support. The latest way they’re shifting towards is AI-powered customer service.
But what is the reason they are advancing to this technology?
Well, let’s discover this by finding the answer to the question that is…
Why Your Business Needs AI-powered Customer Service?
Customer Service has already proven its mettle among the industry.
- American Express found that customers will spend 17% more to do business with a brand that has great customer service.
- HubSpot also researched where they found that 93% of customers are more likely to make repeat purchases with a brand that offers outstanding customer service.
Customer service is already a vital factor for customers. They judge a brand on behalf of it. So it’s crucial to have an excellent service that’s contents a customer thoroughly.
But if you need more detailed answer on why businesses need AI-powered customer service, I’d say:
The way we serve customers traditionally requires plenty of effort from your customer support teams. AI-powered customer service reduces that effort. Apart from this, it assists your business to meet more advantages. Let’s look into those:
Benefits Of Using AI In Customer Service
1. Reduction In Churn Rate
When you leverage AI-assisted customer service in your business, you’re more likely to witness a reduction in churn rate. From churn rates, I mean, the number of customers leave your brand and choose another one.
The AI-driven customer service can provide a perfect solution to a customer’s problem. Businesses can use chatbots for customer service to give customers a nailing solution. Even if the bot can’t resolve the problem, these AI chatbots can redirect a user to a human agent.
The human agent then analyzes the problem user shared with the bot and responds to it with the solution. This elevates the customer satisfaction rate, which eventually results in churn rate reduction (or boosted retention rate), improved customer loyalty, and fewer return rates.
Dashbot processed millions of messages and observed the retention rate of chatbots across different platforms. Here’s what they found:
If you count, the average retention rate of chatbots within the 30 days is 34.4 percent. That’s way too good!!!
2. Automated And Secured Payments
With AI-powered customer service, businesses can facilitate their customers to make payments automatically with more security. Businesses can use APIs of payment gateways like PayPal, Stripe, etc. and integrate it with their AI-driven bot. Once they integrate it with their chatbot, the bot will make and automate transactions.
Not only automation, money-oriented jobs need security too. Thanks to Artificial Intelligence. Payment gateways like PayPal use AI to detect fraud in transactions to improve the security of the payments. This way the AI can ease and secure the payment process and win customers’ faith.
Experts say, 60% of millennials already use chatbots to purchase basic products regularly. If businesses smoothen the security of payments and automate it, this number will rise much higher.
3. Precise Customer Insights
AI-powered customer service can assist your business in collecting precise insights. It collects and analyzes the data on various factors such as interests, demographics, psychographics, and last interaction.
When you’ve all the customers’ data at your fingertips, you’re more likely to predict a solution or product that the customer might be interested in.
When your customer support team gets a helping hand of AI, they don’t have to perform manual research to give customers what they may like. Everything is done automatically.
4. Rich Productivity
Artificial Intelligence is ultimately easing our lives by automating jobs. When you have an AI-driven customer service, you can simplify many tasks. Your customers and purchases will be handled automatically, the content will be delivered to the right segment of customers, human errors will be diminished, etc.
When all of this will happen without human help, you and your employees will get much more time. You can leverage this time and focus on being productive in your business and get better results.
We’re already witnessing personalization in our daily life. eCommerce sites like Amazon, Walmart recommend products as per our interests. Streaming platforms like Netflix, YouTube recommend personalized videos as per the genre or channel we like. This happens with the help of artificial intelligence.
With the power of AI in your customer service, you can personalize content for the right context, deliver the content only to the interested audience for better targeting, create perfect buyer personas to convey your message in a better manner.
Accenture says, 91 percent of customers are more likely to purchase products with a brand that gives personalized product recommendations to customers.
6. Improved Customer Experience
Salesforce stated in a report that 67 percent of customers can pay more for a better experience.
Customer Experience is the war businesses are fighting and AI-powered customer service is the weapon they can use to win this battle. Let’s talk how…
Chatbots can work round the clock without leave. This boosts your brand’s presence and allows customers to contact you anytime, thus improving reliability and enhancing the customer experience. Plus, they aren’t exorbitant and don’t require coding knowledge to build one for a business. You can use a chatbot builder to create your chatbot for free in just 5 mins.
How To Use AI In Customer Service
1. To Provide Personal & Direct Support
The number of users on messaging apps is growing significantly. The graph below shows the number of unique monthly users in the United States on the messaging apps in millions.
These are the numbers only for the US. If we talk globally, only Facebook Messenger and WhatsApp users are 3 Billion and still growing. The data shows the vast user base of messaging apps.
If there are so many users, you must have a chatbot to connect with them personally on these apps. There are many Chatbot building platforms that let you create smart chatbots for Facebook Messenger, Slack, Hangouts, etc.
All you’ve to do is to use a chatbot builder and drag and drop a few things to create a bot for you.
Get started with your first Messenger bot today, FREE
2. To Organize Your Business’s Workflow
AI can be a great help in streamlining your jobs. Chatbots powered by AI now lets you review your analytic report, analyze your subscribers’ details, create segments, collect subscribers’ details, etc. in a few clicks.
All these things and even more can be done regularly without human touch. This eases a lot of things and makes your work easier to handle so you can do more things in less time.
3. To Deliver Speedy Response And Support
A HubSpot Research says, 90% of consumers rate a speedy response as very important when they have a query regarding customer service. 60% of customers say a speedy response is 10 minutes or fewer.
If you use an AI chatbot, the response time will be lesser than 5 minutes. Customers prefer brands who respond immediately and if you’re reducing their waiting time with your AI-assisted service, you’re more likely to have a great customer retention rate.
With a smart chatbot, you can create a series of questions a bot will respond to. You can set answers that are more personalized and thriving. This way, your audience will get a personal experience without a human touch.
4. To Give Optimal Solutions
With AI, you can collect your users’ data based on several things like customer behavior, products bought, order value, etc. Your customer service reps can efficiently use this data or resource to provide excellent solutions to the customers.
However, customers always come with repetitive queries, especially when your business has a large user base. Your bot may not be trained for every single question they ask, and they might fail in replying to complex queries.
To tackle this, today’s AI-assisted bots come with a human handover feature. With this feature, a human agent can take over the conversation if the bot cannot provide the desired answer, thus saving the time they spend on resolving similar issues.
Future Of AI-powered Customer Service
Artificial Intelligence isn’t a newborn baby now. It’s enough grown and being embraced by many industries. It’s said that the use of artificial intelligence by customer service teams will rise by 143% in the following year.
This determines the need for AI-powered customer service in businesses. Customers are being impatient and asking more and more queries, but we still limit work hours. Businesses have no time to handle every customer personally, so they’re shifting towards AI to automate this job for them.
If you haven’t thought to use them so far, think again because the future isn’t very far. Those who’ll start using AI from now will have an edge.
Machines, especially AI, are more efficient than humans. But by saying this, I not at all mean that the AI will replace humans. In fact, it’ll create more opportunities for us do or manage things in a better and proper way.
Everyone wants to do big things with fewer efforts, and we’re developing AI to make this happen. You should also embrace artificial intelligence to please your customers. The more you content your customer, the more they’ll do business with you.