7 Must-Know Chatbot Benefits to Grow Your Business

In recent years, chatbots have come onto the scene, assisting businesses in serving consumers, enhancing user experience, and increasing sales.

There are many wonderful benefits of using chatbots. They respond quickly, are simple to use, and can answer many simple queries. And they've only just begun.

There are currently 1.4 billion chatbot users globally, and in 2025, the market for chatbots is projected to grow to a staggering $1.25 billion.

And not long after that, according to Gartner, chatbots will serve as the key customer service tool for 25% of firms.

To get you ready and excited about the chatbot take-over, in this post, we'll examine some of the key benefits of chatbots for providing outstanding customer support to your users!

How does a chatbot work?

Chatbots operate in only two easy steps.

👉 First, they determine the question's intent and gather all user information that would be needed to provide an answer.

👉 They then respond to the question in an appropriate manner. 

The answer obtained is affected by the sophistication of the chatbot in question.

If the bot is somewhat stupid, it might just give a general, already recorded response; if it is more clever, it might come up with a unique response depending on the user's query and the data already kept in the bot's knowledge base. If it has any doubts, a smart chatbot might even inquire more!

So different types of chatbots work somewhat differently, but the basic idea is the same!

What are the benefits of chatbots?

Chatbots come in a variety of forms that can be used to interact, help, and connect with both current and potential consumers.

And as conversational AI develops, high-quality chatbots are increasingly able to assist customers with a range of tasks all the way from product recommendations to post-purchase support.

Here are some of the top benefits of using a chatbots for your business:

1. Immediate support

Nowadays we are getting used to immediate loading times, rapid search results and quick buying processes. It is obvious that we have high expectancy when it comes to customer service and live chat, otherwise it won't be considered sufficient.

That is why chatbot wins first place. Their 24/7 availability, the power to help and communicate with a high number of customers, as well as performing better than human staff in regard to the time of the response. With chatbot there is no waiting, anytime you always get an immediate answer.

2. Better and more relevant data

Data is everywhere.

And if the data is properly stored, used and controlled its use can result in a fair amount of valuable insights and benefits for businesses. 

This is how chatbot and customer service work with data in two principal ways:

• Chatbot give the customer a tailored answer options, instructions or recommendations. This happens as it uses already existing data plus it has access to prior chats to see where the conversation or task left off and where to pick up.
  
  
• During the conversations with the customer, chatbot collects data by asking and recording answers. The goal is to gain a bigger picture of your customer's wants, needs in order to sell more and make them easily satisfied.

3. Exceptionally cost-effective

Is amazing how low-cost chatbots are. As opposed to human support employees, chatbots don't require a salary, hiring or training, as long as they are once programmed. They are available anytime and can support a limitless number of customers.

The expected business cost savings due to chatbots was valued at $11 billion by 2023.

You can invest the money you saved in other sectors of your business! It's a win-win situation.

4. Chatbot can connect clients with human agents

Although chatbots are an amazing revelation, they will still not be able to completely replace human employees, probably still for a long time.

Luckily they don't have to do all the work.

In fact, they work the most efficiently when collaborating with real humans. That's why most of the time they're programmed to transfer the clients to the agents when needed.

For instance, giosg’s sales chatbots will proceed by asking basic questions before transfering customers and connecting them with a member of your sales.

This way your team gets a more specific understanding of the case and can complete the customer buying process seamlessly.

This method can help improve the customer service experience!

5. Chatbot lead clients throughout the sales process

As already stated, chatbots are able to lead clients to a conscious buying decision, giving them important facts and details that will help them make the best choice.

Thanks to the fact that chatbot can collect data, it greatly supports the sales team as it analyzes and filters the information for them along with separating the incompatible and compatible leads to then easily take over.

6. Chatbots are able to function in different channels

Doesn’t matter in which platform your potential buyer is trying to reach you, now is possible to merge chatbot in different channels, such as your own website, Whatsapp and your company social media pages.

The functionality remains strong in every platform, and your chatbot will be ready anytime to support and lead the interested customers.

7. Chatbot provides effective personalization

Personalization is a must in today’s marketing strategy as 36% of consumers stated, they notice the difference and they find its presence essential. Luckily - chatbot can do this!

Chatbot collects the consumers’ data from current and previous conversations to customize the conversation and understand what the visitor needs without any time wasted.

Helping, supporting and leading your clients to the right buying process path, will establish a worthwhile relationship with them.

And that is what matters.

Conclusion

There are many benefits to using a chatbot, of which several are discussed in this blog post. These bots, which work round-the-clock for their owners, will enable businesses to drastically cut expenses while boosting profits. 

Furthermore, with new developments in AI, NLP, and Machine Learning arriving every year, the bot will get more sophisticated to the point where it will no longer need to be told what to do. Therefore, it is safe to claim that chatbots for business have a promising future.

So whether you're considering developing an artificial intelligence-based chatbot or a sophisticated rule-based assistant, you stand to gain from a number of advantages. All you need to do is pick the finest chatbot platform for your business!

giosg’s chatbots are built to engage with your customers in a personalized and valuable way, quickly solving their problems, guiding them through the buying process, and connecting them with human staff whenever it’s time.

To find out more about how our chatbots can help you, click here for a demo!