The growth of AI chatbots in the business world is enormous; according to a report by Business Insider, 80% of businesses want chatbots by 2020.
Being part of a wider transition to automate business processes and systems that support customer service in the e-commerce and retail sectors, chatbots are enabling retailers to foster better shopping experiences and streamline a broad matrix of complex interactions.
What is Chatbot?
In short, chatbots are specially programmed robots that interact with customers and simulate human conversation through artificial intelligence (AI).
In the e-commerce and retail sector, chatbots are bringing out a transformation; they are recreating the experience users have with businesses and replacing it with an experience they have with friends.
Since they are built with AI and driven by a predefined set of rules, they learn and adapt themselves to complex business problems and offer quick solutions to user inquiries – just as humans would.
8 Benefits of Chatbot in E-Commerce & Retail Industry for Customer Service
Here we list out the 8 benefits of using chatbots in eCommerce and retail industry for customer service and support.
1) Simplified User Experience
In today’s era, people prefer conversations over filling up forms. Chatbots act as humans with customers and make form filling processes look like a conversation, thus collecting details of the customer and converting them into leads.
2) 24 x 7 Availability
Chatbots are the most useful resource. They will be on the system for the whole day throughout the day. On top of that, they won’t overwhelm their customer and will solve out their queries easily.
3) Reduce Shopping Cart Abandonment Rate
An abandoned cart can also be a great source of revenue. Chatbots can remind users of items in their abandoned shopping cart and ask them if they are willing to proceed towards checkout or if they would like to clean their cart.
4) Reduce Operational Cost
Having chatbots do most of your customer service activities can help you save a substantial amount of money on your customer service team. As per reports of Chatbots Magazine, implementing virtual agents or Chatbots can help businesses to save up to 30%.
5) Rapid Response
Since chatbots are built to provide instant customer service, make sure they are extremely responsive and relevant. Do not make customers wait. When customers speak to chatbots, the chatbots should be able to understand customer issues and offer immediate suggestions or solutions.
6) Product Recommendation
Chatbots send push notifications of new products to the audience based on their interests and purchasing behavior, thus customers feel appreciated rather than irritated. These make Chatbots the best platform for explaining a business’s new products and services to consumers.
Since Chatbots are driven by Artificial Intelligence, they eliminate any possibility of human error, making for smoother lead creation and conversion. Chatbots are also self-learning, so they constantly adapt to grow even more efficient over time.
8) Order Processing
Chatbots can process orders within the messenger app itself. By entering personal details like name, telephone number, billing address, and payment options, customers can finish the checkout within the messenger app rather than going to the company website.
Stay ahead of Competition
The E-Commerce and Retail sectors are very competitive one; with millions of other merchants selling exactly the same products as you do, staying ahead of the curve is extremely important.
If you’re looking to serve your customers in efficient ways, its time you build your own chatbot and support your buyers efficiently and personally.