Conversational artificial intelligence (AI) sounds like a complex term, but it just refers to computer systems that are capable of communicating with people. If you have ever asked Siri for directions or instructed your Amazon Echo to give you the weather report, conversational AI is already part of your life. What many business owners don't realize is that conversational AI software solutions are also ideal for reducing business expenses and increasing revenue. Here are three ways this technology can help you improve your business.
1. Reduced Staffing Levels
Conversational AI is useful for reducing staffing levels if you need to cut payroll expenses and overhead costs. If you use conversational AI to respond to first-level support requests, you do not have to hire as many customer-service agents. For example, many retailers use chatbots to assist customers. Sephora is a good example. The beauty company uses a chatbot to help customers pick out new products, and the bot can even "watch" video tutorials and determine which Sephora products were used to create the looks in the video.
2. Increased Productivity
If you currently have paid staff monitoring your live-chat service, those employees have a limited amount of time to perform other duties, as they cannot leave their desks while chatting with customers. The use of bots and other conversational AI tools frees up paid employees to perform high-level tasks that cannot be completed with artificial intelligence. This can increase productivity, allowing your company to generate additional revenue or prevent financial losses.
3. Improved Customer Satisfaction
One of the main advantages of using artificial intelligence to grow your business is that AI tools give you an opportunity to improve customer satisfaction. You can use these tools to help customers pick out products, answer basic questions about your return policy and suggest additional products to complement the items in each customer's shopping cart. True Fit is a good example of how businesses can use conversational AI to improve customer satisfaction. Several retailers, including Ugg and Nordstrom, use True Fit to help customers choose the right sizes when they buy clothing and shoes. True Fit uses data provided by individual retailers to determine how a product is likely to fit a customer, which can help customers avoid purchasing items that turn out to be too large or too small. Using this service increases customer satisfaction and can even reduce your return rate.
Conversational AI software solutions have many applications in the business world. No matter what type of business you run, you can use artificial intelligence to save time, increase productivity and give your customers a positive experience.
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