AI Chatbot Prowess- A Remunerative Future of Digital Commerce
There is a decent amount of growth that has been seen in the E-Commerce industry from the past several years. Even the growth in the E-Commerce industry is apparently high as compared to other industries. This all happened just because of modern technologies, including product visualization and augmented reality and several others. These technologies have helped the retail industries a lot to survive in the competitive world and lead in the right direction.
Whenever it comes to online shopping, user behavior is one of the important factors to be considered. Most of the consumers want to have decent customer support whenever they are shopping through any E-Commerce store. Even, there are several eCommerce store owners available who invest a huge amount in hiring developers so that they can get the best design for their website. However, sometimes it happens that they forget to integrate some basic features. This basic feature plays an important role in providing the best support to users. And due to this less potential or lack of support, the chances of losing customers get increases.
It can easily be seen that the customers usually have queries or questions whenever they review or purchase any product from the online store. Additionally, it highly depends upon the customer that when they are visiting your store in day time or night. This fact raises a question that Are You In Need Of Hiring A Dedicated 24/7 Customer Support Need Or Not?
Well, the clear answer is NO. You do not need to hire the customer support team to provide answers every time. Here, artificial intelligence has played an amazing role. Yes, with the help of AI Chatbots, you can easily survive in this competitive world and provide the best support to your customers anytime and anywhere. It is one of the most important parts of the E-Commerce industry. Instead of hiring the customer care executive, you can easily integrate the AI Chatbots for your E-Commerce stores online. According to the latest report from the Statista, it is expected that by the year 2025, the global Chatbot market will be enhanced up to 1.25 billion US dollars.
On the basis of given statistics, it can easily be seen that the dependence of retailers towards the E-Commerce AI Chatbots is increasing, and it is becoming a major part of customer support methodology. Hence, it is necessary to understand the concept of AI Chatbots a bit deeper so that more benefits can be availed without having any inconsideration.
What ARE AI-Powered Chatbots?
There are people who do not know exactly what the AI-powered Chatbots are? Well, the answer and the concept are very simple. Chatbots are usually available at that E-Commerce store. These are the automated bots that easily interact with the consumers with the help of a chat interface, and it provides the best support to the users just like they are interacting with a real customer executive. For example, you must have seen that whenever a user logins to an eCommerce store, then a message of hi or hello or any welcome greeting pops up along with a question that “how I may help you.” This is basically the Chatbot that is working and available to help the user.
The major motive of the AI-powered Chatbots is to make the user interaction easier and natural as well.
To the digital world, artificial intelligence has proved to be a major boon. In simple words, it can easily be stated that now the machines can easily understand and learn things just like a human does.
How AI Chatbots in the eCommerce Industry Proved its Importance
According to Acquire.io, in the year 2018, 40% of the millennial said that they chat with the Chatbots daily.
According to Medium.com, 67% of the businessmen believe that the Chatbots will easily be able to run mobile applications within the next five years.
There are several more statistics available online that states about the importance and huge role of Chatbots in the E-Commerce industry. The artificial intelligence Chatbots have made the E-Commerce industry quite engaging and user-friendly for the customers. Nowadays, the customers are becoming demanding day by day, and also the major focus of this technology is on understanding their needs and analyzing their requirements. On the basis of analysis, all they want is to facilitate the users without having any human interaction.
Let’s take a quick look over some of the major brands that have used the artificial intelligence Chatbot to perfection so that they can easily outreach their potential audience and can provide the right customer service and generate the best profits as well.
Sephora Chatbot on Kik Messenger
If you are one of those who are addicted to the social messenger, then you must have heard about this application i.e., Kik Messenger. In the United States, it is one of the most popular messengers available for both males and females. Additionally, you must also have heard about Sephora – Virtual Make up artist.
After analyzing the rise of the messenger, Sephora has decided to adopt the Chatbot technology that can help its users to learn and understand more about makeup. With the help of AI-powered Chatbots, they included covered up tips, video tutorials, image tutorials for all the things like makeup and others. With the help of the chatting button, the users can easily get details about the best deals, and also can make purchases according to their choices. Apart from this, the Chatbots are also proved to be amazing and helpful for them in getting the best help.
H&M Chatbot on Kik Messenger
Another amazing example that the E-Commerce industry is highly utilizing the Chatbot with perfection is the H&M – Clothing retail company. This Chatbot has also been designed just like the integration and logics of Sephora. Here also, first of all, it will ask the users about which type of clothing they are willing to see as the women or men. On the basis of their requirements and choices, they help them in getting the best. The Chatbots ask them relevant questions regarding their preference so that they can help them in choosing the best.
Benefits That Chatbots Have Derived From eCommerce Industry
It is right that the AIK Chatbots are pretty much in their beginning stages, and also they have proved to be presenting a huge scope for the E-Commerce retailers. Now, let’s take a look over some of the benefits that Chatbots can derive from your online eCommerce store.
AI-Powered Chatbots Help Improve Overall Efficiency Rate
One of the major benefits of integrating the Chatbot to the customer service strategy is that it helps a lot in improving the efficiency rate of the overall team. In every E-Commerce company, the major priority is always about providing the best and helpful customer service. This can only be understood by the person who has already worked as a customer executive that how frustrating sometimes it becomes to answer the same question again and again in a single day.
However, with the help of artificial intelligence chatbots, it will become easier to increase the efficiency rate. The Chatbots are quite handy and play a crucial role. They help amazingly by acting just like a customer support tool. Whenever a customer asks any basic question, then the AI-powered Chatbots easily provide them straight forward answer so that they can get the solution immediately. It also helps a lot the teams in giving more effort towards the complex issues.
The Chatbots also acts as the intelligent sales associate’s new line nowadays; digital selling has become quite similar to offline shopping. Similarly, just like we hire a salesman for our physical storefront to provide knowledge and details regarding the purchase. In the digital world also, we can easily build a digital sales associate with the help of AI-powered Chatbots. These Chatbots help a lot in providing the right knowledge and details about the services to the customers. As in the above section, we have given to live examples of brands that are perfectly using the AI-powered Chatbots and getting the best results.
Future Opportunities and Challenges Associated With AI-Powered Chatbots
It will not be wrong to state that the AI-powered Chatbots are bringing a revolution in the E-Commerce industry. However, it is also necessary to understand and analyses the future opportunities and challenges that are integrated with this amazing technology.
Some Major Opportunities Include:
- Consumers do not need to worry that they are talking to a human or a bot. They get instant help regarding their queries and also can easily ask questions without having any complexities.
- It really helped in reducing the dependency upon human agents. These bots are capable of providing a solution to the problems every time in 24 hours. It is not important to have a human agent available all the time.
- The response time gets speed up, and also the customer service cost gets decreased. The Chatbots can easily answer the questions in a fraction of seconds.
Along with these benefits, there are some challenges also that are required to be understood. The major challenges are:
- It is quite vulnerable to hackers.
- Both are quite fast and accurate while answering the queries of the customers.
- Sometimes, those Chatbots fail in understanding the intent of the user.
Chatbots are required to be well trained by the real human so that the right intelligence can get built up. Now, Chatbots are no more foreign or alien or impersonal. Nowadays, users enjoy having a conversation with them and speed up answers without having any complexities.