We live in a time where our attention span has surprisingly shrunk down. And it is also understandable when we look at the amount of information and entertainment available there. However, this poses a big challenge for businesses to attract new customers. Commerce thrives on the consumer’s attention; more attention over a product will be the chances of acquiring customers.
Brands and companies need to be sleek and savvy to ace this race. You can’t have the age-old marketing campaign ideas to acquire the consumers of today, who will prefer text over call any time of the day. Most customers (potential or existing) would prefer the same while interacting with a business.
Well, who has the time or patience to get on a call and put a query for a product? As per reports, 50 out of 100 people would rather shoot a text to a business and hope for a swift reply.
Think AI-Powered Chatbots, and you have the perfect solution to the problem. They are efficient, engaging, and intelligent. AI is present in almost all the major tech and legacy industries and provides tons of value to them. Many industry-leading customer support, marketing, and sales teams are also taking the benefit of Conversational AI to put their processes in top gear and acquire more customers by putting people down the sales funnel faster.
What are Conversational AI Bots?
Conversational AI bots or AI-Powered chatbots are automated technologies that enable messaging applications to conduct human-like conversations between the program and humans. Or simply, it is Artificial intelligence sitting behind a messaging app in a chat support window. This program can run on its own after own with little intervention by a human handler.
This technology is so good at what it does that 35 percent of consumers want more businesses to use chatbots to make their strategies and processes more robust.
Key Benefits of AI Chatbots to Customers
What makes AI-powered chatbots an excellent business tool? There are many features in AI chatbots that allow a business to serve its users or potential users in a far superior way than a brand doing it without chatbots.
1. 24*7 Availability
The 24×7 availability of AI-powered chatbots surpasses any other method of brand communication. Companies don’t need a barrage of full-time agents with chatbots to help out customers. They can reach out to the brand anytime and have a fast, relevant, and human-like conversation.
2. Superfast Response
Chatbots respond to queries immediately. So, the problem of delayed response gets eliminated, and the customer experience gets enhanced manifolds.
With Natural Language Processing, AI-powered chatbots can give personalized responses to customers. It takes care of the context and makes the conversation unique for the user. Uniquely created content allows customers to take beneficial steps for the brand.
4. Omni-channel Communication
AI chatbots come with omnichannel chat support, which allows a brand and its customers to have consistent communication across several channels. This is very convenient for the customer as they can reach out to the business from the channel they use the most without taking any extra measures. This channel could be a website, Facebook page, Twitter profile, etc.
The language barrier can hamper business possibilities and keep people away from valuable products and services. AI-powered chatbots remove this barrier without needing a support team with language specialization. Not only can businesses enter new territories, but users also get the chance to communicate in a comfortable language.
AI Chatbot: Redefining the Customer Acquisition Process
Chatbots are a gamechanger for the business world on so many levels. But how is it changing customer acquisition for good? AI-Powered chatbots touch upon multiple parameters that let a business succeed in its customer acquisition pursuits.
1. Enhancing Engagement and Boosting Awareness
The disposal of user data allows chatbots to lead interactive and unique conversations. Couple it with instantaneous and consistent responses, and you will get more engaged customers who are willing to spend more time on your website or application. This increased engagement works quite well to spread awareness about a product or ignite interest amongst your visitors.
NLP capabilities of chatbots allow businesses to keep conversations with customers casual while dishing out offers and relevant content to them in between. The same process is very time and cost-intensive when done without AI-Powered chatbots.
2. Fast Track Decision Making
AI chatbots can process data at a much faster rate. This processing of user data and past consumer behaviour allows the chatbot to develop relevant questions and suggestions for the visitor that can put the decision-making process on the fast track.
Chatbots also do the lead qualifying job, and with superior data processing ability, the quality of leads shortlisted through customer or visitor chats is much higher. Hence, conversational AI is not just interactive chat support but a robust sales tool.
3. High Customer Retention
When we talk about acquiring customers, the discussion should focus on new leads and on retaining the old ones. What is the point of having an amazing lead magnet crippled by high customer attrition?
Customer support strategies that are built around AI chatbots tackle the issue of customer attrition quite efficiently. Instantaneous and personalized attention that is available round the clock helps businesses maintain a high customer experience score. Hence, more customers stick with the brand for future purchases as well.
4. Great Tool for Branding
It is understandable how chatbots let businesses create a great environment for customer success. Having happy customers at all sales funnel levels is important for a brand as it ensures good publicity. Seventy-four percent of customers trust good reviews to purchase a business.
AI chatbots also have their own personality at times which reflects in their style of conversation. Such chatbot implementation can become a good opportunity to use them as a brand mascot. This way, customers will find it way easier to identify good service provided by these conversational AI bots.
4. Easier Retargeting
With all the data that AI chatbots can through various queries, conversations, and page landings it becomes quite easy to follow up on users who did convert. Whether is retargeting, reselling, or upselling the job is done way faster with the help of chatbots and in a more efficient way. Think of the time and resources required to follow up on 500 customers manually, an AI chatbot can address all these leads single-handedly with relevant and consistent suggestions to reconsider their decision.
While the large companies are already using AI-Powered chatbots, the SME sector can massively enhance its customer acquisition strategy with the implementation of this technology. A brand can start by using a less complex chatbot program to test the waters and understand what would work best for their business.
The need and scope of AI chatbots vary across brands and industries. Having a perfect chatbot for your acquisition strategy may require some experimentation, but it will pay off handsomely once the cost of implementation and your business needs strike a balance.