The current global market provides excellent growth opportunities for small businesses. With digital transformation leading the way in most business sectors, small businesses can now reach a global audience in a few clicks. There are currently several digital innovations that are disrupting the business world, allowing small businesses to tap into markets and customers they never dreamed possible. One of them is chatbots; AI-enabled chatbots have already become an integral part of the lives of some, with the promise to improve the operations of small businesses and more.
Awesome Chatbot Benefits for Small Businesses
Chatbots can be defined as AI-enabled, artificial chat agents or virtual agents that are capable of interacting with customers through voice and/or text messages. In simple terms, chatbots can respond to a multitude of messages, ranging from simple customer service inquiries to sales inquiries. For example, WhatsApp's no-code chatbots can handle customer support enquiries with your customers using a simple and quick conversation with their chatbot.
Chatbots are perfect for small businesses as they are cost-effective as well as efficient. For example, when an e-commerce store needs help with a customer query, the chatbot can handle this with ease, and this is without having to invest in a large-scale customer support team. Another benefit that chatbots can offer is that they are highly scalable. They can handle a variety of messages and have no boundaries. They are, therefore, much faster and more efficient as compared to customer support teams.
By integrating a chatbot solution, small businesses can not only help their customers get 24/7 assistance but reduce the cost incurred on support executives. A recent study in India revealed that more than 40% of customers trust chatbots to offer them valuable real-time assistance, and this number is growing by the day.
Suggested Read: WhatsApp Chatbot for Business: How to Create a WhatsApp Bot in 2022
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Industry Use Cases on Chatbots that Small Business Owners Should Know
If you are a small business owner that’s looking to integrate a chatbot solution to boost your business growth, it’s important that you understand some of the most common chatbot use-cases. The following use-cases are not industry-specific and would benefit small businesses across various domains:
Resolve Customer Queries & FAQs
One of the best chatbot use cases for small businesses is that it helps resolve customer queries efficiently. By updating the frequently asked queries in the chatbot, small businesses can easily deal with the queries that their customers have in real-time. This also allows customers to resolve their queries themselves without the need for human interaction.
Understand Customer Behaviour
In today’s competitive business environment, it is important for small businesses to identify customer trends and create a favourable impression on customers to make sure they gain higher revenues. In this process, chatbots can be an excellent resource to help small businesses in building strong relationships with their customers. Chatbots can help collect relevant data points about customers and with the help of that, businesses can create innovative marketing and communication strategies based on the insights. This is highly beneficial for smaller businesses that are competing with larger brands.
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Personalized Customer Support
Personalization is key to a business's success in today’s world. Chatbots help small businesses personalize their services and address their customers in a more personalized way. As more information is gathered about their customers, small businesses can learn more about their preferences and can tailor their service to suit the needs of the customers. AI-Chatbots can be easily personalized as they have the ability to learn and grow as they gather more information about their customers.
Reduce Cart Abandonment
Cart abandonment is one of the biggest problem faced by e-commerce businesses today. The issue mostly arises when customers abandon their online shopping carts as they have last-minute queries and doubts about the product purchase. A well-placed chatbot can help mitigate this issue by helping customers get instant answers to the queries that they have in their minds, which in turn would motivate them to proceed with the purchase. Since chatbots have the ability to collect insightful customer data, they can also act as a guide for them to make sure they make the right decisions.
Suggested Read: WhatsApp Cart Recovery Tips You Can Use Now!
Increase Social Media Conversions
Chatbots can help small businesses increase their conversational sales through social media channels. It’s common for businesses to advertise their products or services through social media. However, in an era of high competition, it’s critical for small businesses to connect with their customers through social media and make customer interactions more personalized and engaging. A chatbot can help small businesses start conversations with their customers naturally and have meaningful real-time interactions.
9 Reasons Why Small Business Owners Should Make Use of Chatbots
Small businesses that use chatbots will reap excellent benefits. The following are nine reasons why small businesses need chatbots:
Boost Customer Loyalty & Increase Repeat Orders
Chatbots have been helpful in increasing customer loyalty thereby increasing repeat orders. They provide the advantage of being able to create engaging conversations with customers, giving them a personalized purchasing experience. As compared to using other customer support channels, chatbots can be leveraged to develop memorable interactions with their customers. Such interactions can help small businesses gain more customers and build relationships with them, resulting in higher customer satisfaction and repeat orders.
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Engage Customers 24/7
In today’s digital world, customers expect instant support at any given point of the day. Automated AI chatbots enable businesses to seamlessly engage with customers and address their issues and queries immediately. Such interactions can help small businesses to build lasting relationships with their customers. By providing immediate assistance, chatbots can build a relationship with customers that is based on trust and transparency, allowing them to stay ahead of the competition.
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Reduce Manpower Cost
A good chatbot can handle a variety of customer queries, which makes it a perfect solution for businesses with small teams. This would help small businesses to reduce manpower costs as they can allocate their resources to more relevant and customer-facing activities. With the help of a chatbot, small businesses can also have better control of their customer support processes and help them avoid mistakes and reduce unnecessary costs. This is especially relevant in industries such as e-commerce where customers expect customer support and help 24/7.
Improve Customer Satisfaction
A chatbot can help small businesses to provide better customer service. As it becomes more intelligent, a chatbot can provide relevant answers to a wide variety of customer inquiries, regardless of the nature of the question. This helps small businesses to gain a positive reputation in their industry and become more customer-centric. This will help them create positive brand impressions among customers and increase customer satisfaction.
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Champion Innovative Strategies
We’ve seen that chatbots help businesses learn insightful information about their customers. This is the basic building block that will help small businesses create innovative customer support and marketing strategies that can set them apart from their competitors. By creating innovative strategies, small businesses can develop creative and customized customer care models that can be replicated across multiple channels and leveraged across different business lines. Chatbots can help small businesses make their products stand out from the crowd.
Generate More Leads
Chatbots help small businesses to generate more leads through their online sales channels. A chatbot that’s conversational can lead to better engagement with customers, and that will help small businesses to close more orders and get more leads. Small businesses can also use a chatbot to attract new leads and engage with customers online.
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Achieve Excellent Scalability
Chatbots are highly scalable and they can grow with the business. Most of the latest chatbots like WhatsApp Chatbot can automatically scale up as per the number of requests coming in from customers. Hence, small businesses can use a chatbot to quickly scale up as their business as it expands, and take on more customers and orders. For businesses that are looking to stamp an authority in their respective industries, a chatbot will also provide a great advantage as it can help them become leaders among their competitors.
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Reach Out to Global Clients
In today’s digital and social media world, small businesses are now able to communicate with a global audience. With the help of a chatbot, small businesses can easily communicate with customers from all over the world, allowing them to easily build relationships with global customers and get global clients that otherwise would be impossible to reach out to. In fact, many AI chatbots are capable of providing multilingual support to customers with the aid of Natural Language Processing (NLP). This allows small businesses to have personalized connections with global clients even if they are halfway around the world.
Streamline Internal Processes
Last but not the least, chatbots will greatly benefit small businesses by helping them improve their internal processes. By creating a chatbot that can help small businesses automate the processes that they use in their day-to-day operations, small businesses can not only save time and resources but also eliminate errors that might have otherwise happened. Using chatbots will also help small businesses to eliminate repetitive processes, improve speed and efficiency, and increase team performance.
Chatbot Pricing for Small Businesses: How Much Does it Cost Today?
Chatbots are often considered a costly venture by businesses. While there are costly chatbots in the market that mostly cater to large brands, there are also personalized no-code chatbots that are more focused on the needs of small businesses. The cost of chatbots for small businesses varies depending on what they are and what kind of features they provide. Businesses can look for chatbots that offer specific business goals such as better customer support or that can assist with sales and marketing. Chatbot usage for small businesses can also vary depending on the industry and type of the business. In India, this can range from somewhere between 1500 Rs/- to 10,000 Rs/- That’s why it’s important to partner with an experienced and cost-effective chatbot service provider.
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If you are a small business that is looking to grow, it’s critical that you have a personalized chatbot that is tailored to suit your business needs. Gallabox, a leading chatbot service provider, can help you build personalized no-code chatbots in under 5 minutes. Our experienced team has worked with the leading brands to build highly intelligent bots that are both intuitive and effective. From customer support to marketing, sales, and much more, our bot builder can automate your business processes and make your internal operations more efficient.
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