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5 AI Revolution Benefits Entrepreneurs Should Look Forward To

By: Fintech News


Whether you are a brick-and-mortar business entrepreneur or an eCommerce storefront manager, AI revolution in digital marketing is looming on the horizon just the same. Businesses are expected to offer more value for the money and support they receive from their B2C stakeholders now than ever before. This is where chatbots come to the forefront as a representative example of machine learning algorithms applied in customer support roles.

According to Customer Think, 54% of customers have higher servicing expectations today compared to only a year ago. The same data also shows that 84% of surveyed organizations work on improving their customer experience projects around the clock.

The benefits of artificial intelligence (AI) in light of these trends cannot be overstated. However, preparing for the proverbial artificial intelligence revolution isn’t simple no matter how well-developed your customer support channels may be. With that in mind, let’s take a look at how preparing for the future of artificial intelligence can benefit your enterprise in the long run.

What do Chatbots do?

In order to get a better perspective of what the benefits of artificial intelligence can bring to the table, it’s worth noting what chatbots are in practice. Chatbots represent AI algorithms capable of conducting customer servicing and support activities in accordance with your business standards.

You can set up chatbots to engage customers in need of assistance, to collect after-purchase feedback or deliver marketing content via messaging apps. The artificial intelligence revolution effectively bridges the barrier between businesses and their potential and existing customers. As such, chatbots will never say something which hasn’t been programmed into their conversational database, allowing for high levels of curation and customer support control.

Combined with a translation review website such as IsAccurate where you can choose localization services, preparing for the future of artificial intelligence has never been more straightforward. Chatbots are an affordable addition to live support agents (which you should have on standby for emergency situations).

  • 24/7 Customer Servicing

Now that we have the basics out of the way, let’s talk about the benefits of artificial intelligence in terms of business implementation. As we’ve mentioned, chatbots can help your customer support efforts in a number of ways.

You can have 24/7 coverage of customer support no matter the volume of tickets sent at any given moment. It’s also possible to serve customers who might not speak your native language, allowing for an even higher level of customer engagement through service.

This type of customer support is difficult to pull off with support agents, especially when you consider multilingual needs of your website (depending on your industry). Preparing for the future of artificial intelligence is just as important as being present at any given moment in regards to customer servicing, something which chatbots are great at providing.

  • Better Back-End Coordination

The artificial intelligence revolution will undoubtedly affect your back-end staff in a positive light. Remember that customer service is only a part of what makes your business tick.

Reseller enterprises still need to coordinate shipping, handling and website management. The same applies to businesses with their own branded goods, indie arts, and crafts salespeople and eCommerce store managers.

Your back-end staff will have more freedom to explore how to coordinate your business workflow if the servicing aspect is delegated to AI chatbots. This will leave you with precious free time available for website content management, product handling or updates to your digital services depending on the type of business you run.

  • Streamlined Customer Journey

One of the things customers like to see in their online storefronts is a streamlined customer’s journey. The less clicks it takes for someone to order an item or subscribe to your service, the more likely they are to advocate for your brand.

The artificial intelligence revolution allows you to streamline the customers’ process of purchasing something from your business through chatbot assistance. You can program your chatbot to engage customers through on-site popups with questions about their purchasing habits, what they are looking for or if they require assistance.

Communication between you and the customer base will likely result in better brand reception on the web. Similarly, you will have higher conversion rates as a direct result of pacing your purchase methods in a way that doesn’t waste the customer’s time.

  • Customer Data Analysis

The benefits of artificial intelligence go beyond customer servicing. Any conversation your chatbot participates in will be logged for further analysis and data extrapolation. This means that you will have an abundance of customer data to work with in terms of figuring out what your followers want to see in your brand.

Similarly, you can collect customer data in regards to product and service feedback, reviews, testimonials and other materials for public exposure. It’s worth noting however that any materials published under your brand’s banner should be approved by individuals whose quotes and reviews you are using (if it’s a direct quotation and not a paraphrase).

Delegating this segment of customer engagement to your chatbots with pre-planned questions will allow your marketing team to focus on workflow improvement instead of mechanical data collection. Preparing for the artificial intelligence revolution in this regard is more than welcome since it will effectively reinvent the way you serve customers and engage potential stakeholders through chatbots.

  • Business Expansion Opportunities

Lastly, the artificial intelligence revolution will undoubtedly bring numerous business expansion and growth opportunities for your enterprise. For example, you will be able to survey your customer base in regards to what they would like to see more of in terms of products and services you offer. This will open up new opportunities for creative expansion ideas which will attract investors and partners to your projects as a result.

Preparing for the artificial intelligence revolution can also involve AI-centric projects which focus on different aspects of chatbot integration within your customer support department. A good example of the possibilities open for exploration is pre-emptive customer servicing. It can involve chatbot follow-up with a customer who bought your product a week or a month ago in regards to their experience so far.

Make sure to explore the possibilities in which your enterprise can expand in reach and service portfolio under the influence of benefits of artificial intelligence before dismissing the idea as a passing digital trend – which AI certainly isn’t.

Taking the Next Step (Conclusion)

The challenges of the artificial intelligence revolution involve workflow reevaluation, customer’s journey updates and changes to the way you service customers. However, all of this and more can be done if you choose the right chatbot platform for your enterprise’s needs.

Implementing AI and chatbots into your business isn’t chasing after trends – it represents pioneering new digital grounds in your industry. Take the initiative and start your artificial intelligence revolution now to reap the benefits of what it has to offer as soon as possible.