Thanks to the internet, the world is more connected than ever before and businesses can easily reach their customers through the network. With more and more people using the internet to access the services, the demand for a better experience and problem resolution is increasing at a pace that it might be hard for businesses to reach the expectations.
It is Estimated that every year, 265 billion customer service requests are made and money as much as $1.3 Trillion is being spent to satisfy the customer requests. With E-commerce businesses are expanding into more spheres and increasing their customers, these queries and their complexities would only grow. With that, the cost for businesses to scale their customer services would also grow.
You may have already known about the AI impact on e-commerce, in recommendations, and other areas. Not only in them but AI also has the power to improve and automate customer service at a low cost and with phenomenal performance.
In this article, let us discuss the benefits that an E-commerce business could get with implementing automated customer service with conversational AI. But before that, let us have a brief discussion about conversational AI.
As the name indicates, Conversational Ai is a set of technologies that use the techniques of Machine learning on huge volumes of data and also natural language processing to mimic human interactions and have the ability to engage humans in conversations.
Customers would always have problems and they might reach out to you through many channels. Instead of directly connecting to humans, you can keep chatbots there to perform a lot of general tasks: give certain information, search help articles for them, and others.
Chatbots are also being made with high adaptability so that you can fine-tune them and use AI in e-commerce businesses’ unique needs and feed them the right content they have to talk to the users.
Many organizations have already implemented chatbots in various areas of User experience and have experienced phenomenal results.
Once deployed, the chatbots work for you in various channels 24/7 with the same level of efficiency at all times. This greatly reduces the cost you put on people to be available for the time. Also, a chatbot in an artificial intelligence e-commerce platform can easily deal with multiple messages at any instant, and with this, you can easily handle a high amount of volume of requests while minimizing costs.
According to an estimate, deploying chatbots to automate customer support services can save up to 30%! In addition to having an intelligent bot helping you to save costs, your business would be available for your customers all the time!
Reduction in attrition rate
People quitting jobs has always been a problem with customer service centers. According to a report by (QATC) Quality Assurance and Training Connection, the attrition rates faced by call centers are twice that of other industries combined. There might be many factors in this, but the repetitive and mundane nature of calls is also one.
Chatbots and the use of AI on eCommerce eliminates the typical and mundane tasks and lets support agents focus on the complex tasks faced by customers, which contributes to a certain reduction in their attrition rate.
Power of machine learning & personalization
Personalization in customer experience has proved to have a positive impact. It increases the overall user experience, helps solve problems faster, and improves your standing with your customers. These platforms use the stored data of customers. Conversational AI in customer support uses the data and provides an engaging personalization experience.
Chatbot uses machine learning algorithms and gathers more knowledge about the data for showing personalized solutions. Natural language processing techniques are getting powerful. We can deploy chatbots in different languages.
Reduced Resolution time
Nobody wants to wait in line for longer, until a suitable customer service agent would be connected to resolve the query. According to a survey conducted by Accenture, about 66% of consumers in mature markets expect faster customer support and this figure is higher for emerging markets which stands at 78%. So, not only giving great customer service is important, but giving it in time is most important.
With the power of the NLP, conversational chatbots can understand the intentions and motivations behind customer requests. Chatbots can directly answer simple and Frequently asked questions accurately.
Supports different channels
Not all customers might want to communicate with you in the same way. Some prefer to chat on your website, some might prefer to chat on their favorite social messaging app while some prefer through voice calls. Conversational AI can work a wide range of channels and helps you establish high-quality customer service in the channel your customer prefers.
The lifeline of any machine learning model is data. If you continuously feed them more data, they become powerful than ever before. So, the more you use conversational NLP-enabled chatbots for your sites, more data they get and the more they learn. This learning process can be twofold. In one sense, they learn the general behaviors of people and get better at helping but also, they can learn to deal with specific customers in a better way too!
With growing customers and their demands for a better user experience for all their needs, there is mounting pressure on the customer service area of e-commerce businesses. Conversational Ai has improved a lot and they can now be used to automate customer service through many channels for answering their queries and solving user’s needs.
With all the benefits they offer, automating customer service through chatbots assists conversational commerce in many spheres and ultimately improves the satisfaction of customers. They get their problems solved quickly in a more personalized way and support the channel they prefer. With taking care of repetitive and mundane tasks, they satisfy support agents. So, it results in the overall satisfaction of customers and support agents. With all this, they improve your businesses as a whole!