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Conversational AI: Key Differentiators And Insights

Conversational AI is a term we often come across in business and technology, and the potential of its offering is immense. So what does this mean for you, your business, and your customers?

Customer Engagement and AI Chatbots

The basic mantra of customer engagement is to engage with the right audience at the right time, prompting them to make a favorable decision. Having said that, you must be available to the users at any given point throughout the customer’s lifecycle.

But, how do you ensure that? 

According to research published on HubSpot, 82% of consumers look for an immediate response from brands on marketing or sales questions. 

In other words, it is evident that every business needs to have a presence on chat platforms to thrive. This is not something that’s happened overnight, and Bots have been in the peripheries ever since 2008. 

The need to enhance customer engagement has further evolved bots, and now we have conversational AI’s that have all the abilities to provide your business a competitive edge over others.

What is Conversational AI?

Conversational AI is essentially a set of technologies that allow bots to communicate like a human being by recognizing aspects such as text and speech, understanding context, decoding different languages, and responding in a way that imitates human conversation.

Businesses can leverage the potential of Conversational AI by automating customer-facing touchpoints across social media platforms like Facebook, Twitter, and their websites/apps.

The power of conversational AI platform enables businesses to be straightforward with the users, facilitating a direct pipeline to address issues and reach end goals.

Note Conversational Chatbots and Conversational AI are majorly similar. It’s just that Conversational AI is a broader umbrella that includes voice bots, text bots, and voice+text bots, whereas Conversational Chatbots are only limited to texts.

This image lists why Conversational AI is gaining so much traction in the modern world.

Why is Conversational AI Great For Engaging Customers?

Available 24/7

The foremost advantage of having a conversational AI solution for your business is responding to your customers immediately. Did you know that if you answer a customer query within an hour, your chances of conversion multiply 7 times?

As a human tendency, the majority of the customers would talk about their negative experiences rather than the positive ones. Responding to negative feedback quickly would eventually enhance the product’s brand standing.

Customers Favour AI-Messaging

Do you know that most modern and profit-making businesses today use chatbots or are considering having one? A lot of customers look forward to seeing a chatbot on business websites for quick query resolution.

Another data suggests that a majority of customers prefer messaging over phone calls. With all this happening around you and the kind of expectations consumers have with businesses, it only makes sense that businesses integrate messengers across verticals.

Appealing and Problem Solving

A direct helpline for customers is certainly a plus, but with conversational aspects along with it, the entire method is taken to the next level. 

Conversational AI bots are unique tools for engagement. Engagement drives solubility, which causes retentivity and growth.

Highly Scalable

AI Chatbots have the potential to manage a massive number of customer queries without having to depend on excessive human resources. AI Chatbots are highly effective in cases when you suddenly witness a gigantic spike in user queries.  

If you depend on a limited human resource team, that’s a perfect recipe for disaster. But with chatbots in place, sudden spikes are easily managed.

Conversational AI bots can easily manage scaleups allowing businesses to function seamlessly even when your footfall becomes a stampede.

How Can Businesses Leverage The Potential Of Conversational AI

A user essentially communicates with businesses all along with product usage. In a cutting-edge competitive world, being available instantaneously is critical because of which a business’s presence needs to be based on the customer’s preference and the message you want your customers to receive.

It is important to remember that these can overlap or change based on the demographics of your target audience. One size fits all is not the approach businesses can depend on when it’s about new customers.

Strategy – Based on the type of message

  1. Facebook and Twitter are amongst the most popular and convenient social platforms. To take care of queries and complaints, bots can be deployed here.
  1. Deploying a bot on your website or real-time platforms like WhatsApp is beneficial for sending out updates and acquiring new customers.
  1. Some industries like eCommerce, banks, and aviation are incredibly time-sensitive. To handle a large number of customer service queries, the go-to strategy could be deploying custom voice bots, website bots, and in-app bots.

Wrapping Up – What’s in it for your business?

In the modern world, more and more users look forward to using chat as the primary mode of communication as it is quick, effective, and immediate. With that said, it only makes sense to make the most out of Conversational AI offerings across industries.

Conversational artificial intelligence offerings are beneficial for the customers and businesses as they help you cut down on operational costs and scale your business operations dramatically.

Conversational AI ensures that you are always there to listen to your customers, allowing your business to win top marks for engagement and responsiveness.

Conversational AI works – everywhere!

Regardless of the industry, all businesses can leverage the potential of conversational AI if they have a user touchpoint. It’s better for users and the company, and nothing else matters.

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