What is a Chatbot?
In 2020, customers will manage 85% of their relationship with an enterprise without interacting with a human. How are they conducting business? Customers today are choosing to digitally self-serve via online portals and by communicating with companies through chatbots.
Chatbots are interaction tools that can be embedded on a website or in a messaging app for providing answers to customer questions, customer support and service, and ultimately allowing a customer to do business with your company in real-time without speaking to a human on the phone. Easy-to-use and incredibly convenient, the automated conversations that chatbots deliver are in high demand. Chatbots use a combination of artificial intelligence and rules-based logic to quickly get your customers the answers they need.
Why a Chatbot is Important?
Chatbots are not meant to be a substitute for human service reps. In fact, when customers have an emergency or a major issue, there’s no substitute for speaking with a human. However, businesses have now observed that 54% of customers are more open to resolving their issues via chatbots or other automated tools.
Chatbots can answer up to 80% of common questions, 24/7/365. They can cut resolution time from 38 hours down to 5 minutes. And they can reduce customer service costs by up to 30%. In fact, it’s estimated that chatbots will drive more than $8 billion in savings by the year 2022 for Retail, eCommerce, Banking, and Healthcare.
When a customer does need more support, chatbots with embedded Live Takeover functionality will alert live agents who can step in and take control. Agents are provided with a full view context to the customer’s history and conversations, providing a seamless and frictionless customer experience.
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Chatbot Use Cases
Integrated with customer data and business systems, chatbots can personalize interactions with customers on any digital channel. With connected video, document composition, archives, payment systems and location data, customers can interact with chatbots to:
- Make payments
- Check account balances
- File an insurance claim
- Schedule appointments
- Refill prescriptions
- Access technical support
- Get product recommendations
- Ask policy questions
- Check statuses
- Update their accounts
- And more…
How Precisely Can Help
Precisely EngageOne offers chatbot solutions for every business, whether you’re looking to enhance your existing website, or offer more self-service capabilities to your communications. Learn more about chatbots with EngageOne Converse.