To build an online business, you will need to identify your customers. Most of the businesses have an application to discuss the services of company. Some of the ways by which a business tries to reach to its customers are blogs, catalogs, forums, social media platforms and chat applications.

The major factor that enhances the revenue of the company is how much attention customers pay to the company’s sources and the duration they spend on each of these different platforms of the company.

What are chatbots and its impact on the business?

Chatbots are significantly changing the way most of the businesses operate nowadays. These are artificial intelligence enabled virtual assistants that have the capability to influence almost all features of a company.

• These bots offer phenomenal customer service tools to provide all round assistance to customers.
• Chatbot and AI integrated to payment solution generate traffic to online sales
• Chatbots have the potential to enhance the productivity of the organization by providing assistance to different departments such as human resources, production, marketing, and sales.
• A chatbot presents a new channel and a method to communicate. By implementing it in your company, you can definitely create a positive impact on the marketing and sales of your business.
• To get more sales in a business, chatbots automate specific processes that enable them to focus on different activities.
• Chatbots proves to be an important resource that boosts the overall sales and rate of conversion.

Types of chatbots

Pure retail sales bots

Retail is the sector where you would find extensive use of chatbots. Chatbots enables users to do the purchase transaction directly using a chatbot. The users of the website will not know that it is happening through the use of a chatbot. It will appear to them that the transaction is happening from a website.

Chatbot will record the shopping habits of the individual, by which it will predict what the end user would be keen to buy. This will result in prefilled carts with type of products the chatbot will pick. Thus, a chatbot will increase in more sales and productivity of a business.

Bots for lead generation

Common lead generation process that business implements without a bot.

• Creation of a landing page.
• Acquisition of targeted leads.
• Selling that leads to producers
• Generation of profit

With the use of chatbot, lead generation process is improved:

• Company produces lead generation bot
• Bot approves the lead
• Lead is then passed to the company
• Commission is paid by the company to bot
• Cost per customer conversation/task is calculated

Bots for research

Bots have a remarkable ability to even perform a search for its users. Instead of investing in a costly research firm, with research chatbots, you can easily run effective research campaign that asks local users about their shopping preferences, etc.

Conclusion

Looking at the potential of chatbots, they are increasingly used by businesses. Different type of chatbots provides different types of functionality to the users. Better utilization of the chatbots helps in increasing the revenue of the company to leaps and bounds.