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How Chatbots are Revolutionizing the Customer Journey

How Chatbots are Revolutionizing the Customer Journey
The Siliconreview
04 Febuary, 2021

It’s long been discussed that the customer journey should be carefully curated, thoroughly inspected and tested, and then handed over to be as automated as possible. 

So it isn’t surprising that chatbots are making the customer journey easier and faster. 

But what impact do chatbots have on the customer journey, and what can be learned going forward? 

What are chatbots?

Chatbots have been helping businesses manage their marketing and customer services for several years. They are an automated response system designed to scan your input (the text you write) and use it to form the correct response. 

They simulate the conversation between two humans to help you get to the information you need as quickly as possible. 

As technology and software progress, chatbots can respond naturally and provide the right answer. 

Why are chatbots important?

Chatbots are offering any size business the opportunity to streamline specific processes. 

Some questions are asked a lot, and it can take a customer representative hours to answer those questions. Automating those responses can provide a customer with the right answer without extra people power. 

Chat bots allow for easy escalation. When the chatbot is unable to solace the issue, they offer the option to escalate quickly. The service rep will have access to the information and can also help more efficiently. 

Chatbots can collect and collate valuable data from potential customers and send them directly to the relevant department, where a human can take over and complete the process. 

Which industries benefit from the use of chatbots?

According to Statista, a massive $209.6 million people shopped online, compared prices, browsed products, and made purchases in 2016. 

Fast forward to 2021, and it is projected that these numbers will skyrocket to $230.5 million.

That means millions of people have the same questions, need the same advice, want to check the same or personal information, and more. Chatbots are the automated and intelligent system that solves that pain point. 

Instead of waiting for 20+ minutes in a telephone queue, listening to elevator music, you can instead have an instant answer from a chatbot. 

Chatbots are incredible for potential customers who have questions about a product or your chatbots to find a product quickly. The chatbot can help to make the customer journey quicker and easier. 

Chatbots can also increase conversions by reminding shoppers what they have in their cart too. 

The industries utilising chatbots

The banking, finance, and insurance industries have all benefited from the speed at which a chatbot can help their customers. 

Customers can search for their local branch, ask questions about transfers, and any other potential queries they may have.

The online insurance sector is also utilizing chatbots to help assist customers when searching for insurance quotes online. Lemonade Insurance in the US uses chatbots to ensure a simpler and smoother process for their customers that are looking for insurance deals, by eliminating the need to speak with agents via phone call and making the search quicker.

The healthcare industry has also seen an increase in the ability to book appointments by simplifying the process. Chatbots can ask a set of questions that enable them to determine which department and doctor are right for them. 

How do chatbots improve the customer journey?

Everything you do as a business should be to improve and streamline the customer journey

  • The guesswork is taken out of the process; simple questions take the customer from where they are to where they need to be
  • Although chatbots are AI, they can have a brand voice and feel more tangible than an email.
  • Your customer service becomes 24/7 without the requirement of a whole team of people, cutting the cost of overnight labor.
  • There are little to no queues for your customers; chatbots are instant.
  • Chatbots increase the likelihood of someone asking a question, or an inquiry about your services, because most often - they pop-up at just the right time, and are always available.
  • Contact forms are less boring since customers are being asked quickfire questions and usually only need to tap a button and they involve minimum writing. 

What is the future of chatbots?

We have chatbots that can initiate automatic savings, ones that can book your doctor’s appointments and help you choose the right insurance product for you.

So what does the future of chatbots look like? 

  • They will most likely become more able to mimic humans as NLP (natural language processing) systems advance.
  • Save money on personnel as fewer human agents will be required.
  • Payment automation, building on the MasterCard style chatbot that can answer a range of financial questions from customers.
  • Seeing an increase in chatbots used for onboarding, HR, and internal helpdesks
  • Chatbots will be designed and modified to be more accessible for more demographics. 

Chatbots are most likely to become further integrated into most business processes, making the customer experience simplified and enjoyable.