Artificial Intelligence for SMEs: The Urgent Need to Have a Chatbot

December 1, 2019

Customers’ expectations increase every day; they expect an updated customer service including quick and reliable payment transactions, a fast request processing, an easy shopping experience, a personal approach and much more. In the democratization of the access to new technologies, it is the time of chatbots for SMEs.

To make a few simple questions about adding a chatbot to your business may help you to make a decision: Would you like your company to operate 24 hours a day, seven days a week? Would you be interested in reducing your Customer Acquisition Cost (CAC)? Would you be interested in promoting a purchase relating the chatbot with your e-commerce? In increasing the retention rate? Then it is about time for your SME to install a chatbot.

Web Global Index estimates that 75% of Internet users are implementing one or more messaging platforms. And your company cannot be outside this world. Though when listening about artificial intelligence, small companies feel it far way, expensive and difficult to implement in their daily activities, virtual assistants or bots built via AI are the most viable product within reach.

Conversations through chat robots can be as natural as talking with a human being. Furthermore, when applied to SMEs needs, they have the potential to be a differentiating factor to face competition and to be really a step forward.

What are the real benefits for the business?

Generate new clients and reduce the CAC

Your chatbot can make a big difference: from managing your sales transactions to reducing substantially your customer acquisition cost, since it can accept and process hundreds of request at one time.

Promote a purchase integrating it to your e-commerce

Currently, chatbots are becoming popular among clients as a participation platform. It is a good idea to integrate it to your e-commerce, and you can even launch it as an independent application to promote your sales and to develop a marketing action with a discount for new customers that interact with the virtual assistant.

Increase the retention rate

According to InsightSquared, a 5% reduction in the client drop-out rate increases the profit margin between 25% and 125%. However, for your chatbot to be able to do it, you need to set it up with the right and expected intelligence according to your business needs. Therefore, only a well linked and activated chatbot for

AI will be able to understand what your clients expect. Do not wait any longer to use artificial intelligence for your business’ benefit.

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