5 Reasons to invest in Chatbots and RPA automation in a growing pandemic

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One of the Gartner Reports clearly highlight that RPA Software revenue is going to hit $2 Billion in 2021. There is an evident growth of 35.2% annually in the bot market and the experts are expecting a clear growth in double-digit rates by 2024.

Why there is a sudden boom in AI, RPA, and the Automation technology world? One of the major factors may be credited to the COVID Situation that is hitting the global economy. Most of the companies are drooling for digital transformation for mere sustenance in the market.

If you are looking for investment opportunities in an otherwise slow market or struggling to retain your customers in this crisis situation, this blog will help you take advantage of the new technologies that are emerging in the Automation world.

Let us jump into our 5 reasons why your business needs Chatbots, RPA, and other Automation technologies:


Chatbots as service

According to a HubSpot report, business is said to grow its revenue 4% to 8% more than their market rates when they provide better customer experiences.

Most of the customer queries are repetitive and easy to answer. Companies who answer such customer queries have the habit of documenting such queries for future reference most probably in a digital format. Also, the most famous segment of FAQs are usually made available to customers so that they can understand the company’s offerings better.

Can the customer query process be automated? Of course, yes! Since 80% of the queries are repetitive in nature and FAQs are fixed set of questions with pre-defined answers, this process of customer query handling is the perfect use case for Hyper-intelligent Automation.

By training the bot with every new query, the AI bot will learn and replicate the scenario better with time. Hence, a perfect blend of chat or voice bots can be designed to directly converse with the customers and provide them with first-lever support.

   Benefits of using Chatbots or Voice bots are:


1.      Easy Implementation of the process flow with limited effort. 

2.      Simple, intuitive, user-friendly bots can be developed as per the customer’s requirement.

3.      Solve simple first-level Support queries or relatively less complicated inquiries

4.      With AI Integration, language patterns can be recognized, and hence, a valid answer can be responded to any form of query.

5.      The bots can interact with the customers around the clock.

6.      Any urgent queries from the customer can be immediately responded to without making the customer wait for any service staff to tackle the situation.

7.      Bots require low maintenance, are 100% accurate, and are in a continuous process of learning and implementing to provide efficient customer service and elevate customer satisfaction.

With Chatbots in place, the business is bound to work more effectively in the customer service segment but, along with that, even the service time will acquire more time to provide second-level support to the customers.


Using automation in Marketing

How to attract your customers to your products or services? This is the biggest challenge every business faces and invests a lot of their funds to run various marketing campaigns?

But, how many such campaigns are successful or bring a good number of customers immediately after the campaigns are done? Very few conversions, right?

But, here is a full-proof idea to quantify your marketing strategies? Yes, you heard it right! Marketing automation is the solution for all your marketing problems!

   Marketing Automation:


1.      Supplies relevant information individually to customers with very little effort.

2.      Enables one-to-one relationships with the customers and develops trust.

3.      Provides complete support from automatic lead scoring to qualifying interested parties.

4.      A measurable outcome with actions of the interested partied weighed and stored with values.

5.      Immediate ROI with the faster acquisition of customers and leads.


Voice bots can be a partner in sales

One of the best tools for the Sales Domain is Customer Relationship Management. It helps establish a long-term relationship with customers with little effort. But, to build this type of relationship, the business has to enrich the tool with all the customer data that it can possibly collect.

But, with the global crisis that all the businesses are facing, there is no much connection built with face-to-face interactions and to interact with the customers via the internet or phone, the employees have to be proactive in updating the customer information and make it handy whenever the customer tries to communicate with the.

The underlying manpower efforts to facilitate this process are difficult and need quick alternatives to make this process more efficient.

There is a solution for all problems and this particular problem, the voice bots are the perfect package to deal with this.

   With Voice Bots:


1.      Quick and easy data maintenance.

2.      Faster interaction with customers and available 24*7.

3.      Seamless integration with existing SAP Sales Cloud.

4.      Control everything from the appointment system to follow-up of appointment in one's language without having to open up a mask in the SAP system.

     

Supporting smart commerce

One statistical report points out that 70% of the customers feel chat-bots can support them in ordering their e-commerce products.

Due to recent crises, many brick-and-mortar stores have brought their business online including different wine traders, food traders, fashion stores, pharma companies. So, how can such stores immediately capture the attention of their customers and provide a differential shopping experience for their customers? 

One way is to integrate their shopping websites with chatbots to support purchasing and placing order process. Smart commerce experience can be shared with the customers using chatbots because of these functionalities:


1.      Bots bring customers directly to the destination page of their products and can also make recommendations based on the requirements shared by the customers.

2.      Bots can be used for up-selling and cross-selling.

3.      Bots can collect information, needs, and feedback, store them and use them for remarketing and retargeting strategies.

4.      Bots can advertise products based on consumer needs and behavior whenever the customer revisits the website.

Using chatbots, customer experience will be enhanced effortlessly and a sudden increase in sales can be expected with very high ROI.


Intelligent processes in the back office

One of the most popular Automation processes is the Invoice process. Integrating back-office processes like invoices, sorting mail and emails, opportunity scoring, with automation and AI will make the entire workflow more efficient, accurate, and less human intervention. With high-cost savings and low to zero errors, Hyper-intelligent solutions are very optimum for back-office workflows.

Also, employees can be released from the manual, repetitive process and can be used for more productive jobs which required analytical and decision-making skills especially during these crisis periods.


Chatbots satisfying the customer experience

Chatbots and automation processes can be integrated with most of the horizontal domains in the business to improve the overall efficiency of the business and provide an enhanced customer experience with limited efforts.

Chatbots can be used in marketing, commerce, and service systems as quoted in the above sections of the blog. Even a chatbot in back-office processes can elevate the customer experience. Wondering how? Generating bills, completing the customer requests quickly without making the customers wait is some activities that will make increase the customer experience.

Not only this, if the chatbots can help sales representatives through CRM system or help other employees by reducing their manual process and provide them with the necessary information immediately, then the employee experience will increase tremendously.

Employee satisfaction is the key to enhanced customer experience. A happy employee will think out of the box to serve his customers which are bound to make the customers happy.

Every Process, every bot, or automation idea can make the business life easy for employees and customers. This will increase the overall efficiency of the business and lead to cost-saving and optimized business solutions. It is time to extract this potential to the maximum especially during these pandemic days.


 

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