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Top 5 Ways Chatbots Will Help You Increase Revenue Generation

Top 5 Ways Chatbots Will Help You Increase Revenue Generation

Admin 02-12-2020

Have you ever went on a website and enquired about their product or service from the small chat button place in one of the corners of the page? That’s a chatbot. And integrating chatbots in websites to answer consumer inquiries is one of the most popular uses of them among businesses, brands, and marketers.

However, that is not the only use for chatbots. If handled correctly, these chatbots can become a powerful digital marketing tool for your brand or business. Many brands have already started using bots to increase their business without having to increase their manpower.

To understand how you can use chatbots for your business, you need to first understand what a chatbot is and how it works.

What is a Chatbot?

It is not hard to imagine what a chatbot is, a computer program designed to hold a conversation with you. Simple right? However, a chatbot does more than just chatting. It is a tool that interacts with your consumers to keep them engaged with your business without added manpower.

That being said, bots are not out there to get your jobs from you, instead, these bots will be your assistant in making your business grow more efficiently. You will still need your prowess in handling the important and creative tasks of your business while bots help you manage the smaller tasks that take up too much time.

Chatbots in digital marketing is going to revolutionize how you interact with your customers, how you direct them through the sales funnel, or even how your customers purchase your products and services.

You can program your bot with a series of potential questions from your consumers and their answer. Chatbots are cheaper and easy to set up so you can use a bot even for a medium-sized business.

With that said, let’s jump right into how your business can benefit by integrating the right chatbot.

1. They respond to your website visitors.

Let us start from the most traditional use of chatbots - website interaction with your customers. More and more businesses are now integrating chatbots into their website. This not only increases consumer engagement with the website but also provides better customer support and site navigation when the customer needs it.

If you have an e-commerce website, then chatbots can be a better option to provide your customers easier and faster service. They can interact with your customers and help them find out the product they have been searching for without having to look at the product category, and then going through the long catalog to find the product. In that sense, they save a lot of consumer time and effort as well.

2. They can be integrated into your messaging applications

Do your customers communicate with you on WhatsApp or any other messaging application? Then you would know how hard it can be to respond to all your consumers within a few minutes. Thankfully, chatbots can be integrated with your messaging APIs to help you cater to all your customer queries without any delay.

Similar to your website chatbot, this can also be programmed with a conversational hierarchy where you put a sequence of “if”s and “then”s. However, modern conversational chatbots are much more advanced thanks to artificial intelligence technology.

The most popular chatbot used by businesses all around the world is probably one used in Facebook Messenger. Businesses that are already present on Facebook use these bots to answer any query of their customers and even lead them to purchase. Hence, in a way, chatbots can be of immense help in lead nurturing right up to the purchase and even retargeting if you use them innovatively.

3. They provide a better-personalized user experience

One of the amazing things about chatbots is that they are a good medium to collect data from your customers to provide them more personalized content. As compared to generic ads, almost 71% of customers preferred getting personalized ads.

Conversational chatbots are easier to talk with and so users are more inclined to provide data that can be used to personalize their experience with your brand. If you are not providing personal content then your customers might choose to purchase from your competitor who offers personalized content, product, and services.

You can program your chatbot to gather data from your consumers and use it to personalize their experience. The best way to do that is to create a survey that helps you understand your customer better.

However, unlike regular survey form, these questions need to be in a casual conversational tone rather than the usual formal tone so that the customers feel like they are talking to a friend and not a bot.

4. They sell your product for you

As mentioned earlier, chatbots are not only useful for interaction with your customers, they are capable of leading your customers through the complete sales funnels right till checkout.

You can program the chatbot to ask a series of questions that understand what the customer wants and then show the results that match all the criteria. For example, if you are operating an online footwear business, you can program your chatbot to ask questions about the gender, footwear category, color, size, and budget. These are all the filters that are normally present on any e-commerce website.

The chatbot will ask these questions to the customer and according to the answers given by the consumer, it will show only those products that match the answered criteria. While gathering this information, you can store the data for improving customer experience in the future.

Once the customer is shown the list of products that matches their description, they can choose the products they like and choose to buy them from the chatbot interface itself. The chatbot will then direct them to the checkout where they can pay for their purchase as they usually do.

5. They help you behind-the-scene

From the beginning of this blog, we have been discussing how chatbots help you to offer better services to your customers. However, it is not only the customers that your chatbot can help.

You can also program the chatbots to help you and your team. These chatbots work behind-the-scenes to increase the productivity of your business. You can use chatbots to streamline the internal communication of your business with your teammates and coworkers.

It helps you in managing their tasks and provides constant updates on which individual or department is doing what. That is how it helps improve communication between team members and increases work efficiency.

Some chatbots help you to do market research for your business. Right from keyword research to consumer demographics, these chatbots can gather data required to increase client reach and predicting consumer behavior to benefit your business.

EndNote

Chatbots have already become an inseparable part of digital marketing. However, it is, comparatively, still in its early phase. With further innovation and creativity on how you can use chatbots to increase your business, it poses innumerable possibilities.

For now, it increases your customer retention and revenue by nurturing leads towards buying your product or service while also helping you out in research and management.

How else do you think chatbots can be helpful for brands and enterprises? So share your thoughts in the comments below, and be sure to check out other blogs for more topics like this. 

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