Chatbots: How They Help Increase Sales And Revenue For Businesses
Reach Millions Of Potential Customers Through Messenger Platforms
In order to grow your business, you need to interact with as many potential customers as possible.
This is where chatbots come into play, they create an effortless path for customers to transact with your business through conversational AI via messaging platforms like Facebook Messenger, which recently passed 1.3 Billion users as you can see from the chart via Techcrunch.
That is 1.3 billion potential customers with direct access to your Chatbot already installed on their devices.
For reference, the average cost per install (CPI) globally for iOS Apps in USD $0.86. Leveraging a Chatbot saves you roughly (1.3 billion x .86 = $1,118,000,000) in marketing budget dedicated towards user acquisition.
In short, Chatbots leverage messaging platforms with built-in audiences allowing your business to transact with hundreds of millions of potential customers without the need to waste valuable resources on downloads.
Increase Sales Through Improved Order Efficiency
Chatbots can dramatically improve sales for any business. This is accomplished in two ways.
- Reduce the number of steps it takes to purchase a product
- Reduce the amount of time it takes to receive the product
For example, A coffee shop struggles to serve a large volume of customers during the morning rush. Long lines slow down order efficiency and deter potential customers who are time sensitive.
However, with a bot such as OrderBot in place, customers can complete their order prior to arrival in three simple steps, illustrated below.
Customers are now able to purchase and prepay for any product in three simple steps. Reducing the time in queue significantly for QSR businesses. A simplified order process has led to an average increase in order quantity by 23% along with a 30% increase in sales across OrderBot clients.
By 2020, 85% of all customer interactions will be handled without a human agent. Chatbots are integral to the shift from human to automated customer services for every business. Bots will bridge brick and mortar businesses with e-commerce through their ability to facilitate seamless payments to the largest number of potential customers.
Originally published at mindat.io on September 10, 2018.