According to a recent report by Grand View Research, the global chatbot market is expected to reach $1.25 billion by 2025, growing at a CAGR (Compound Annual Growth Rate) of 24.3%. The chatbot industry is definitely going to experience significant growth in the coming years, which is something that businesses of all sizes are increasingly using to their advantage, as they should.
Chatbots can undeniably bring plenty of benefits to businesses in every industry but, regardless, many business owners are still quite skeptical and choose to stick only to their human customer support. Of course, there’s no human touch when interacting with chatbots, but is human customer support capable of delivering the same results as chatbots? Not so much.
Chatbots can really outperform human customer support, so read on to explore the reasons why.
Fast Response Time
According to a chatbot report by Ubisend, 69% of consumers would consider interacting with a chatbot before engaging with a human because they want to receive an instantaneous answer. The surprising fact from this report is that 19% of survey respondents said that having a human interaction was not important to them when contacting a business, because they simply care about the results.
When you think about it, it’s not so surprising after all. Customers get in touch with a business when they need a solution to a particular problem, and that’s all they care about – getting the results, no matter who (or, in this case, what) provides it.
Chatbots provide instant answers, as they don’t need to think about all the possible solutions to a problem before they can come up with something helpful. They are programmed to answer simple, specific questions and they have all the answers ready to go at all times.
While a customer service agent is sifting through the files in search of the right information, a chatbot has already solved the issue, and that is the greatest benefit of these revolutionary computer programs.
This is the most obvious reason why chatbots outperform human customer support – they are available 24/7, 365 days a year. They don’t need sleep and rest, nor do they need a break in order to recharge their batteries and perform better, which is exactly why they will always beat human customer support.
You need to be available to your customers 24/7, because they will simply switch to your competition if you are not there to offer a helping hand when they need it. Contrary to your customer support agents, your chatbot will always stay online and answer all your customers’ questions in real-time, ultimately retaining them and improving their experiences with your brand.
Have you ever tried managing ten tasks at once? What about talking to ten different people at once? It’s pretty tough for a human to hold that many conversations at the same time and manage to reach a consistent level of effective communication with each and every person.
For chatbots, this is a piece of cake. They can interact with dozens or even hundreds of people simultaneously, without putting a single person on hold. Again, this is because they don’t “think” – they are programmed to instantly answer customers’ questions and they will always seamlessly execute the instructions.
Multitasking is pretty essential for successful customer support, especially since consumers expect businesses to provide customer service across various channels. Constantly switching between different channels to attend to all your customers can be overwhelming, not to mention very inefficient.
This is also where chatbots definitely win, as they can provide omni-channel service without any friction whatsoever. SnatchBot is one excellent example of a brilliant omni-channel platform that can help you build your own chatbot and publish it into every channel you want, entirely for free, with no hidden costs down the line, so you should definitely check it out.
Higher Level of Personalization
Human customer support can be personalized, but it can never reach the same level of personalization as a chatbot can. This is because chatbots can analyze huge amounts of data in seconds and personalize conversations to every individual using all the customer information available.
They don’t need to memorize names and sift through previous customer interactions in search of the right solutions or for an insight into customer behaviour, as they can instantly access that information. Your support agents would need some time to retrieve the necessary information, which translates to slow response time and frustrated customers.
No Need for Regular Training
As opposed to customer support agents, who need regular, time-consuming and expensive training in order to be able to perform their tasks effectively and learn the best practices for communicating with and truly helping customers, chatbots don’t need to be trained regularly. You train them by programming them to perform specific tasks and they only need to be installed once in order to effectively serve customers.
If you want to deploy your own chatbot, you don’t even need to worry about having to program and create it on your own, as you can easily launch one with the help of pre-built bots. SnatchBot has a Bot Store with many bot templates that are ready to use and specifically designed for many different industries.
Chatbots can definitely outperform human customer support, but that doesn’t mean that you should no longer hire customer service agents. Your support still needs a human touch, especially because chatbots cannot really solve complex problems – not yet, at least. They can recognize the point in a conversation where they can no longer be of help and transfer the chat to an appropriate agent, but they cannot fully replace the agents.
You need to strike a balance between the two, because that is exactly what will help you stand out and truly delight your customers. Without implementing a chatbot in a time when consumers expect fast service and instant answers across all channels, you risk drowning in a vast sea of competitors. Don’t blend in – harness the power of chatbots and outperform your competition.