Five Ways Chatbots Can Boost Customer Value For SMBs


Co-Founder and CEO at Kalungi – Full-service B2B SaaS Marketing. Ask me about marketing and business growth.

In an increasingly competitive global economy, providing excellent customer service can be a key factor to set your small-to-medium-sized business (SMB) apart from your competition. According to Business Insider, 66% of consumers say they will spend more money with a company that offers an excellent customer experience when it comes to supporting a business, while 60% say they have not completed an intended purchase due to a poor customer service experience.

So, how do you keep up with bigger corporate players in your industry? There are so many customer service options out there, but not every tool is created equal, especially when it comes to the needs of SMBs. As a business owner (or expert), you wear a variety of hats. With managing your team, tracking inventory, managing your ROI and responding to customer inquiries, there are only so many tasks you can juggle in a day.

Below, I’ve rounded up a few reasons why a chatbot is a software you should invest in to handle some of your customer service needs, so you can add more time to your day, boost revenue and interact with more customers.

1. Easy Setup

One of the best parts about many chatbots is that they are extremely easy to set up, even for not-so-tech-savvy users. It’s difficult to find time in your day to complete administrative tasks, let alone onboard a completely new technology.

It’s worth considering requesting a product demo before you invest in a new tool. Throughout the demo, pay close attention to the complexity of the technology. Is it easy to navigate? Will it require you to hire an IT expert to manage?

The right chatbot should ideally get ramped up and running in one day. Try to avoid chatbots with complex installation; this will only create more headaches for you in the future.

2. Tailored Exactly For Your SMB

Whatever chatbot you choose, make sure it comes with pre-built templates just for your industry vertical. This way, you ensure the technology can interact with your customers in the best possible way and represent your business to its full potential.

The templates should be completely customizable, so you can edit the flows as you choose and highlight the areas of your business that are the most meaningful to you. The only software I know on the market that has pre-built templates for every industry is Amy (full disclosure: now a client of my company, though I have used Amy since before working with them).

3. 24/7 Support

In today’s fast-paced world, no customer wants to wait to get a simple answer to a question. You never know when a customer (prospective or existing) might need your help. A 2018 survey indicated that 43% of customers want customer service to be available 24/7, and these numbers have probably gone up since the pandemic. These expectations are set by business giants, which makes it a challenge for SMBs to cater to the changing needs of consumers.

Customers may browse your website late at night or in another time zone. The best part about chatbot technology is that it allows your business to reach customers at any time of the day, on weekends and even holidays.

4. Reduced Costs

If you are operating a small business — or any business for that matter — resourcefulness is the best resource. You may not have the resources to hire a customer service executive to optimize your customer experience, but a chatbot can help you economize customer support tasks without compromising the quality of service.

Chatbots don’t require a live customer service representative to operate. This means you can reduce admin work across your entire organization, reduce labor costs and continue to engage customers.

5. Increased Customer Retention

Customers today don’t have the patience to wait for a member of your team to get back to them on a specific question. In fact, data shows that 75% of retailers report losing customers due to wait-related issues. By deploying a chatbot to provide instant support, you can improve customers’ experience, which will help them establish a connection to your business and become loyal to your brand.

Recommendation

With all the elements in mind, it’s best to make the decision early to invest in a chatbot solution. From my personal experience in B2B and B2C, I recommend chatbot software that’s easy to use with pre-built templates. Feel free to explore, just make sure you leverage templates specific to your niche.

You want to be spending time on the right things when launching your product or accelerating your business growth, and setting up and customizing things like chatbots are not the things to be wasting your time on. Much like building a website and coding, it’s much better to leverage proven templates and frameworks that just work.

Time is of the essence. Your revenue growth and client retention are only one chatbot away. Go get one!


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