Can chatbots bring forth cost savings?

Everyone is looking for more efficiency in their business. Can chatbots make your customer experience more efficient and cheaper? (Yes.)

How much money you can save does vary by industry, but in general, customer service costs can be reduced by 30%. Businesses all-in spend about $1.3 trillion on 265 billion customer calls per year. Chatbots can help businesses save on customer service costs by speeding up response times, freeing up agents for more challenging work, and answering up to 80% of routine questions.

Chatbots are expected to help trim $8 billion from business costs by next year. And it’s not just about shaving costs, either: many businesses use Chatbot technology to generate leads and make sales. Chatbots can proactively alert customers to sales and discount opportunities, increasing upsells and engaging visitors. Chatbots on third-party messaging platforms such as Facebook Messenger can provide useful content that drives visitors to the company website. They can also offer expansive menus that present customers with options that they weren’t even thinking about when they initiated the chat – encouraging clicks and product discovery.