Chatbots Can Increase The Revenue Of Your Company – Here’s How

The key to increasing your company revenue is to get yourself to those places where your customers
really are.

You can’t expect your customers to reach out to you every time. You have to return the favor to
maximize your business efficiency. Chatbots give you the platform to do that because it gives you the
opportunity to come to your customers on your own.

Here’s an example video of a chatbot in action.

Integration With The Messaging Apps

Chatbots can integrate themselves seamlessly to the popular messaging apps such as the Facebook
messenger, Skype etc. making it easy for you to provide your customers with a more personalized
channel of communication.
Along with that, there’s the added benefit of the fact that messaging apps are already gaining more
popularity in comparison to that of social media. So as far as customer reach is concerned, chatbots can
easily be your best possible solution.

More customer reach automatically increases more chances of lead generation which seemingly has a
direct connection to that of your business dealings. Is that something positive? You bet it is!

The Emergence Of Retail Chatbots

The retail world is slowly and steadily getting into the chatbot technology because of the benefits that
come with it.

The chatbot technology has made it more convenient for customers to select their products and pay for
the same from the very palm of their own hands and that too on the messenger apps itself. This has
resulted in the emergence of retail chatbots which has made shopping as easy as a piece of cake. Let’s
explain this with an example.

Consider Amazon’s Alexa as an example.

At this moment, users will be able to reorder goods through Alexa that they had ordered on Amazon last
week done through voice or textual command. The payment can also be done directly though the chat
process itself.

With increased convenience, comes increased revenues. You honestly can’t ask for more; can you?

Automated Customer Support With A Human Touch

This is definitely one of the biggest benefits of the chatbot technology and can definitely increase your
company revenue in the best possible manner.

Most small businesses can benefit tremendously from this technology because this helps them to make
up for their lack of manpower and financial resources.

Chatbots can interact directly with customers almost exactly the way humans do. If any customer faces
any issue with any service/product of yours, s/he can just take out his/her phone and get in touch with
your platform on his/her individual messaging apps (e.g. the FB Messenger app, Whatsapp and so on).
Your chatbot will be able to answer most of his/her queries on its own and provide him/her with a few
basic solutions that can work well in most circumstances. In case the problem’s deemed too serious in
nature, human intervention becomes necessary.

The chatbot technology also gives you a 24/7 presence on the internet which is something that can bring
your business a whole lot of revenues if it’s done in the right way. It makes it possible for you to solve
customer queries at odd times of the day even without the presence of a human being. So is there
something not to like? Guess not!

More And More Lead Generation

The traditional method of lead generation usually involved 4 steps in general. And these are:

  • Creating a landing page
  • Acquiring target leads
  • Selling those leads to the producers
  • Revenue

The Chabot technology can transform this entire process for the betterment of the company because
the entire thing becomes automated which reduces a whole lot of time and effort.
For example,

Say, a bot is interacting with a customer who has fairly no idea about the product in question. The bot
asks a few random questions, answers a few basic queries and can then easily ask the customer whether
it’s okay to pass on the information to the managing committee.

If the customer agrees, the bot sends the information to the management in the blink of an eye. Thus,
the lead’s generated automatically even without the intervention of humans. This can also result in a
significant increase in revenue. If this is not a benefit, I don’t know what is.

Key Attributes of a Unique Chatbot

  1. Just like a human, a chatbot should be social in nature

Chatbots must possess a human touch to make them a standout among the crowd. Sociability is the first
trait that they must exhibit no matter what the genre of the business is.

2. It should always come with a name and a matching personality

A name is a must. Or it would be in the danger of getting lost in this competitive market. For example,
You can name it Poncho if you are dealing in teen goodies.

  3. It should be able to function on the basis of past experiences

The key to developing a sound chatbot lies in its AI. If it can function well on the basis of past
experiences, it gets the nod.
Like humans, chatbots must possess the ability to retain important information. Based on such
information, they ought to be able to provide a better personalized experience to users.

4. The chatbot should be capable of approaching customers on its own

The chatbot technology has made it possible for businesses today to approach customers on their own.
Gone are the days when they had to chalk out ways of bringing traffic to their website. Now they can
actually visit those places where their customers actually are – WhatsApp, Facebook Messenger, etc.

Conclusion

The chatbot technology is still in its infancy. There are still huge scopes of improvements that are just
waiting on the sidelines. The advice therefore is to get yourself adapted to it as soon as possible. You will
definitely be benefited in the long run.