[Report] Are Chat Bots the Future of Service?

2/14/2019 / Field Service / Workforce Trends / Katia Loboda

See why more companies are trading in live support for these conversational agents to deliver greater value to their shareholders and customers.

Whether inquiring about your phone bill or checking into your hotel room, you have probably received service through a chat bot by now. With today’s customers demanding instantaneous service, more companies are trading in live support for these conversational agents to deliver greater value to their shareholders and customers.

While 23% of companies already use chat bots, are you prepared for this next generation of customer service?

Currently, chat bots are not suited to handle all customer interactions but are rather programmed to handle simple verbal or text requests of customers based on a set of questions and answers they are assigned. Repeated execution of these tasks leaves minimal to no room for error, leading o higher return on investment and causing more companies to implement bots into their customer experience mix. But what other benefits do companies achieve from adopting these digital employees?

Higher Customer Satisfaction

Waiting for a live agent to assist you in checking your account balance or check into your flight could be both, frustrating and time consuming. With a few quick questions, bots are able to easily access your information and complete a customer’s request in minutes. Unless the request requires in-depth assistance, there is no longer a reason for a customer to hold or be transferred to various agents. This ability to address client needs in a timely and effective fashion, has a direct affect on customer satisfaction kpi by boosting satisfaction and loyalty.

Companies using chat bots achieve 92% greater year-over-year improvement (decrease) in number of customer complaints

Efficiency Gains

Using analytics, companies using chat bots are able to analyze the historical data of chat bot conversations in order to forecast demand that needs to be allocated to live agents. Contact center agents are now being scheduled more accurately, minimizing the risk of unnecessary agent idle time and agent burnout, decreasing inefficiency and unnecessary costs related to over or under scheduling.

Chat bot users achieve 2.4 times greater annual improvement in agent utilization rates, compared to firms without this technology (3.4% vs. 1.4%)

The use of bots allows companies to process more customer issues which otherwise would have been handled by employees, resulting in higher overhead cost.

Centralized Knowledge-base

Since customers often contact a business by various means of communications, it’s vital to integrate all customer interaction systems to build a comprehensive view-of-customer journey and detect repeat customers.

Chat bot users are 32% more likely to have a centralized knowledge-base of product/service information that chat bots can query based on customer input

For example, using machine learning to analyze employee and chat bot historical conversations, helps companies to automate best answers in response to changing buyer needs. This allows firms to reduce dependence on costly data analytics resources while minimizing the risk of human error. In turn, a company’s contact center, whether human or software, is enabled to not only provide more relevant information but also up-sell to the customer based on historical inquiries.

By having access to all data collected through various technologies such as CRM and workflow management, companies are able to program chat bots to support a more efficient customer service and contact center and create a more flexible, automated dispatch and scheduling platform.

Download the Aberdeen report “Chat Bots in Customer Experience: The Modern Way to Sell More and Deliver Better” to learn how companies using chat bots:

  • Report 2.5 times greater YoY revenue growth
  • Improve customer profit margins by 2.3 times more YoY
  • Achieve 6 times greater annual improvement in number of quality SLAs met
  • And much more

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