Why do We Need Chatbots?

By September 6, 2020Blog Posts
why do we need chatbots

A few years ago, websites, apps, and social media were the options to reach a company fast. But the response rate on these channels was too slow for our patience. Today chatbots first welcome us on all of these channels. We interact with them as if we are talking to a person and solve our problems quickly.

Chatbots save us from waiting at long queues at call centers or from searching for information across complicated web menus. Chatbots offer practical self-service options. That saves us; customers significant time and for businesses; high costs. That is why more businesses implement chatbot solutions to enhance their customers’ experience while enjoying cost savings with automation.

The below statistics prove that chatbots are the future of the future;

  • Gartner says Artificial Intelligence (AI) will be a mainstream customer experience investment in the next couple of years. 47% of organizations will use chatbots for customer care, and 40% will deploy virtual assistants (Chatbots Life).
  • 56% of companies say conversational bots are driving disruption in their industry, and 43% report their competitors are already implementing the technology.  (Accenture)
  • In 2022, the banking industry could see the success rate of bot interactions reach over 90%  (Juniper Research)
  • People from 195 countries use online chat to start conversations on business websites. (Drift)
  • In 12 months, 67% of worldwide consumers interacted with a chatbot to get customer support. (Facebook)

Why are we so eager to embrace chatbots? Why did they transform into an essential part of the way we communicate? Because they manage to fulfill our needs both as customers and as business owners.

We love them because;

Chatbots never sleep

Chatbots can serve customers 24/7, and they never get tired and compromise on the experience.  Both customer and business units do not have to worry about service hours, which ensures higher customer satisfaction since companies can now serve more customers with no additional cost for new live agents.

Chatbots react fast

Chatbots can respond to user requests fast. As the name implies, a chatbot is a robot. Thus, they search and find necessary information more quickly. A customer who is wondering if any product is in stock will get a faster reply from a chatbot compared to a live agent. This would speed up decision making and buying processes, which will mean higher sales figures for businesses.

The perfect collaboration: Bot & Agent

People want quick support for their problems by using chatbots, but they may also want to talk to a live agent at some point. This is perfectly acceptable. For example, a banking customer is applying for a loan via chatbot. And in the last step, they may request to speak to a bank officer for details. At this point, chatbots can connect the user to a live agent with all the history of interaction.

Chatbots never get bored.

People doing the same job might get bored. And their performance and level of service are negatively affected. For humans, this is expected. But for chatbots, this argument is not valid. Even if they do low-value and repetitive tasks, they remain dynamic, stay motivated, and their service level is stable. So, businesses can use chatbots for routine tasks while assigning qualified personnel for more critical tasks. This directly contributes to the efficiency of the operation.

Conclusion

Today, as social isolation gets important due to increasing COVID-19 risk, businesses seek ways to serve their customers digitally. And this is where conversational chatbots step in. With chatbots, companies can offer easy-to-use self-service solutions for their customers and automate routine and repetitive tasks in a way that increases the value and appreciation of the human workforce.

Author: Aytuğ Demireğen, Senior Product Consultant & Business Analyst, Sestek