Are chatbots helpful in B2B? Part 2: A look at the 5 advantages of chatbots

Can a chatbot improve sales and services in B2B, or are the advantages not enough to justify their use?

Caravan Coop
Jul 25, 2017 · 4 min read
Photo by Igor Ovsyannykov on Unsplash

In Part 1 we looked at the different types of chatbots and whether they are useful in the B2B space. In this article, we look at the inherent advantages chatbots have over human-to-human communication, and assess how this helps could help B2B businesses. Between the two articles, we hope B2B businesses will have a firmer grasp on what chatbots can do for them.

While there are 4 different types of chatbot, there are 5 distinct advantages that chatbots can possess over human staff.

B2B companies should measure how valuable these advantages are to their operations before starting to build a chatbot for any one purpose.

The 5 advantages chatbots have over human counterparts, and how they matter to B2B

1. Swift action

Nothing can respond faster than an automated program, like that of a chatbot.

There is a statistic that certain B2B companies might want to heed: the ideal timeframe in responding to leads is under 5 minutes. According to a study conducted by MIT Faculty Fellow James Oldroyd, after 5 minutes, there’s a 10x drop in your odds of actually getting in touch with a lead.

In B2B, lead response times are rarely 5 minutes, and there is not quite as much pressure as in B2C to be quite this swift. However, when sales personnel are not available immediately, the swift action that a chatbot’s response could provide might help to ‘1/2’ convert a lead and have it ready to go for the sales team when they are ready.

2. Two-way-communication on inbound lead generation channels

Most inbound lead generation channels (website, social media, blog, subscriptions) are a one-way communication platform. They don’t allow for user interaction where it might be possible.

For B2B, like any business, you have to ask whether two-way-communication between a chatbot and a human at this point in the conversation is ideal, and better than traditional one-way communication that quickly leads to two-way, human-to-human conversation. Most likely the answer will be that some two-way conversation on lead generation channels could be useful, but only if the ‘conversation’ is satisfying.

3. Data collection

With complete accuracy, chatbots will classify customer information according to the user’s responses. This data have the potential to improve future communications with customers and help with future sales.

In B2B, any data collection a chatbot does will be limited to the extent of its capabilities in interacting with the user, and the cookies and metadata it can obtain. Using the example of a triggered task chatbot, the chatbot could act like a lead capture form that also gets to know some of the specifics of the potential client (what they are interested in specifically, why, etc. ).

4. Content sharing, 24/7

A chatbot doesn’t work like a human — for eight hours at a time and not on weekends. They operate all the time. Customers and prospects don’t have to wait until working hours to get responses from a chatbot, which is especially valuable if they’re located in a different time zone.

In B2B, if your brand can follow up promptly to any request no matter when it comes in, you’ll be sure to reduce wait times and improve your chances of conversion.

5. Automate Everything

Having a database for everything helps your business maximize time saved since all sessions are documented, which then makes follow-ups a breeze. This aids your lead generation efforts as it simplifies the process of qualifying leads and handing them over to the sales team. Not only is the process more efficient, it is potentially more effective for sales conversions.

One of the main goals of chatbots is to improve efficiency in your business, but it doesn’t mean you won’t experience hiccups once in awhile. Your business should be aware of these obstacles to prepare the necessary contingencies.

In conclusion: there are real benefits to chatbots over their human counterparts

The advantages of chatbots all derive from two things that humans can’t do: be available 24/7 without fault, and perfectly organize all client information along the backend. With this, information can be standardized and databased for the optimal use across all departments. However, for many businesses, having this capability is not necessarily a priority. As the technology improves and as human-to-machine communication becomes more common and accepted, B2B companies will not want to miss out on providing this service, which can be win-win.

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Interested in chatbots for your business? Caravan is available for a consultation and assessment of your needs.

Caravan Coop

Caravan, c’est une coopérative de travailleurs et travailleuses engagés, un incubateur d’idées où l’intelligence collective et un brin de magie se mettent au service de l’innovation numérique.

Caravan Coop

Written by

Montreal-based Web and Mobile Application Development Cooperative

Caravan Coop

Caravan, c’est une coopérative de travailleurs et travailleuses engagés, un incubateur d’idées où l’intelligence collective et un brin de magie se mettent au service de l’innovation numérique.

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