Agent efficiency, automation, and operational insights
Chatbots, which are artificial intelligence systems that interact with users through messaging, expand business’ ability to provide timely and efficient customer support. The benefits of using chatbots are extensive: automated workflows, increased resolution rate for consumer inquiries, and useful data gathering, to name a few.
While savvy digital customer care has become commonplace for enterprises, there’s still a large percentage of businesses struggling to provide the level of support that consumers expect. The reasons are two-fold:
Businesses that currently use chatbots need to take stock to ensure their support is up to par. And for businesses that don’t already use chatbots, escalating reliance on them by consumers will make it difficult to hold out for much longer.
Understanding the current state and capabilities of chatbots, as well as consumer expectations for them, is crucial. That’s why we’ve rounded up the most relevant chatbot statistics that customer care teams need to know today. The following information helps inform businesses as they continue to manage more of their sales, customer service, and general communication online.
It’s projected that the market size of chatbots will grow from $2.6 billion in 2019 to $9.4 billion by 20247
Source: Business Insider and ResearchAndMarkets.com
Chatbots aren’t just for ecommerce. The rise of chatbot usage is a direct result of consumers demanding round-the-clock service in a wide range of industries, including banking and finance, and healthcare, as well as online shopping.
The ability to respond quickly to customers is a universal benefit for most businesses. The size of an operation can pose different challenges: Small businesses might not have the manpower to stop what they’re doing to respond to customers in real-time, whereas enterprise-level businesses must manage a large volume of consistent requests. Chatbots provide a solution in both of these cases.
Automated responses enable customer care teams to spend less time with standard questions and more capacity to tackle issues requiring human interaction:
Using chatbots can be intimidating for some business owners, especially for those at the helm of legacy enterprises that don’t do a majority of their business online for. But with a reliable chatbot software, implementation processes are largely built-in and easy to customize.
When chatbots first were created, many viewed them simply as a novelty. As software has improved, however, more businesses are grasping the possibilities of using chatbots, and customers are coming not only to accept, but to expect them.
Among the many reasons for consumers to communicate via a chatbot, these were cites as the main motivations:4
In addition to round-the-clock customer service, a majority of consumers prefer not having to stop what they’re doing to make a phone call. In fact, 56% of people would rather message than call customer service. This raises the question of who should be on the other end of that chat: a person or a bot? Finding the answer isn’t always easy. 53% of consumers don’t care whether a chatbot or a human solves their issue, as long as it gets solved. Chatbots have proven themselves to be capable of handling simple inquiries, and many inquiries fall under this category. This means that chatbots are an easy way to improve customer satisfaction — and just as importantly, gain customers — without expanding a contact center. Still, customers do prefer humans to help them with more complex inquiries.
Even though chatbots are capable of handling many simple inquiries, sometimes they’re not enough. If your chatbot software provides canned responses that are vague or lack next steps, the user’s experience can be extremely frustrating. Even worse, if there isn’t a way to easily escalate conversations to speak with a human customer support representative, consumers can be left feeling like there’s no way to get the help they need.
Of all communication channels, chat has the highest expectation for speedy response times.
For many consumers, chat has been sold to them as a way to speak with a customer service representative — or at least get help to resolve their issue — quickly. If that expectation isn’t met, it defeats the purpose. And brands fail to meet this expectation more often than you might think; in most industries, consumers that use chatbots to reach customer support have to wait as long as 24 hours to hear back nearly 25% of the time.10
Slow response times are common across many industries:10
Regardless of the amount of time it takes for an initial response, customers expect their issue to be resolved. When this doesn’t happen, it puts a bad taste in consumers’ mouths and decreases the likelihood that they will use that business again.
Most traditional chat solutions are synchronous, which means that sessions will time out and end if the customer isn’t responding quickly enough. This creates frustrated customers. While the best solution to this problem is to migrate to a modern, asynchronous chat solution, chatbots can also help keep customers engaged and route them to a human agent if and when they need it to ensure their issue is resolved.
Providing efficient and, above all, helpful chatbot messaging to your customers requires software that creates a good experience for them as well as support teams. Khoros Care equips businesses with advanced messaging capabilities, such as chatbots and asynchronous chat, to bring conversations across multiple channels to create a seamless experience. Teams that can leverage the best of automation and also human interaction are extremely well positioned to create an experience for customers that makes them feel taken care of, quickly and thoughtfully. Contact us for a free demo today.