3 Advantages of Chatbots in CRM
I have written quite a bit on the business application of chatbots on Chatbot Magazine. Before we take a long break for the holiday season, there is one important application of chatbots which I would like to discuss. That would be the application of chatbots for customer relationship management (CRM).
No matter which industry you are in, customers are the single most important asset for your organization. They provide a sense of purpose, direction and clarity for the company and the need to cultivate them are vital to your company’s success. Before the age of chatbots, such interactions are labour intensive and a major cost centre to companies, be it in terms of customer support or sales representatives.
Here are 3 reasons why you should consider chatbots in your managing your relationship with customers.
Chatbots can respond to queries in a speed which humans can never match. For simple queries, chatbots can easily provide instant answers that humans crave for. With progression of natural language programming (NLP), chatbots don’t give canned responses anymore and can connect with your customers naturally. Chatbots that are linked to social media would also allow for seamless verification and they remember previous conversations.
Chatbots are good for immediate answers to standard questions. If there is the case where non-standard answers are required, they can switch to human operators seamlessly without having to wait on the line for phone calls. When your customers are happy, they are more likely to return to you and repeat business is the key to success.
Chatbots are currently considered to be on the frontier of technology and companies who can deploy them first can not only save on costs but also be innovative. Innovation is the process of finding new methods to solve old problems. The old problems of data leakage apply to business for a long time where sales person talks to their customers on the phone and fail to record down the key points of their conversation.
Successful companies such as Starbucks and Google are known for their innovation and not just for innovation sake. Starbucks is known for its product innovation which allowed it to capture 59% of the coffee market. Having a chatbot would allow for automatic capture of conversation at different stages of the customer journey process.
Close More Sales
With chatbots to handle the heavy lifting of tending to the mundane tasks, sales representatives can now handle the more important tasks of meeting their customers and closing sales for the company. The chatbot would also aid in the closing journey with a mapped customer journey process.
The general rule that leads should be attended within 5 minutes to convert them to paying customers would be achieved with chatbots. Chatbots would provide a 24/7 service which allows for 5 minutes response no matter the hour and result in having more leads. More leads would result in more sales than you can imagine.
Good Period for Chatbot Implementation
So finally, we are at the end of the year where seasonal celebrations mean that your clients are probably on leave. This lull period is a good time for you to implement chatbots to your company’s CRM and be ready to jump back into action when your clients are back in action in the following year.