Chatbots are virtual assistants that respond quickly to user queries. To improve user engagement, all you need is a chatbot.
80% of people have already interacted with a chatbot
The chatbot market will reach $454.8 million by 2027
Chatbots can handle 69% of the entire conversations
68% of users enjoy the quick response of chatbots
Benefits of Chatbot
Save TIME, MONEY, EFFORT
use cases of chatbot across enterprises
Chatbots can save 2.5 billion hours and $8 billion for enterprises in the next two years. Organizations can use chatbots for various activities. A few are given below.
Customer service and support
23% of customer service companies are currently using AI chatbots
33% of consumers find chatbots very effective at resolving their issues
- Provides instant support to customer queries
- It helps users to navigate the site
- Processes return, exchange, and product tracking requests
Marketing
The global chatbot marketing revenue is $83.4 million this year.
Chatbots can generate 55% of high-quality leads for businesses.
- Based on the user activity, provides user-specific recommendations
- Assists in email and marketing campaigns
- Provides instant access to information like FAQ, articles, or other documents
Customer engagement
- Provides personalized experience to engage users
- Involves in fun conversations
Social Media
- Communicate on omni-channel platforms
- Provides personalized experience
HR
- Supports HR activities like time-off, onboarding, documentation.
- Provides information about the company and its policies.
- Assists simple activities like password reset, updating employee profile etc.
Sales
47% of customers are willing to buy products using chatbots
- Handles customer onboarding and instant purchases
- Helps in lead generation
- Helps track order and inventory check
Customer feedback
The customer satisfaction rate is 90% with chatbots.
- Collects feedback effortlessly
People management
- Helps to track employee activities and sends custom alerts
Use cases of chatbots across Industries
Chatbots are becoming more intelligent, thanks to advancements in Artificial Intelligence (AI) and Natural Language Processing (NLP). Chatbots can assist organizations of all sizes in eliminating manual work.
Here are few use cases of chatbots for different industries.
E-commerce
By 2023, chatbots will generate over $100 billion in e-commerce transactions.
- Re-engages customers in case of abandoned carts
- Provides offers and suggestions
Healthcare
By 2023, chatbots will generate over $100 billion in e-commerce transactions.
- Acts as a healthcare assistant
- Provides information on medical subjects
- Assists physicians
- Helps to book appointment and answers queries
Insurance
- Suggests policies and services
- Helps filling forms and applications
- Provides FAQ and answers for queries
- Sends Notifications and Alerts
Banking
- Answers queries like balance check, due date, credit payment etc.
- Helps in money transactions
- Provides information on banking products, accounts, and actions.
Telecom
- Collects feedback
- Upgrades plan
- Redirects to the respective agent
Retail
- Supports in-store purchases
- Provides information of the product
Government
- Provides information about public data and Government processes and policies.
- Registers complaints and collects feedback
Chatbots have endless benefits.
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