AI customer support is truly the future of seamless customer experience. According to Statista, 78% of organizations today use AI chatbots to assist customers with self-service on their websites and apps. In addition, 75% of the company executives will implement AI in their businesses in the next three years.
Are you also considering adopting conversational AI – such as chatbots and virtual agents – to improve customer satisfaction for your business? Maybe you like the idea but are not sure whether you should invest in AI technology right now. This article will discuss why AI customer support is an excellent investment for businesses that want to stay ahead of the curve.
6 Reasons Why AI Customer Support Is the Future
From marketing to sales, artificial intelligence has managed to find its place in every business department, including customer support. But this doesn’t mean AI is eating into human roles. On the contrary, AI technologies are actively supporting human agents in several domains.
So it will come as no surprise if AI replaces a majority of human agents’ roles in customer support as well, giving them more scope to handle the intricate tasks. Here are six compelling reasons why you should invest in AI customer support:
1. Round-the-Clock Customer Service
According to VentureBeat, more than 50% of customers nowadays expect business to be available 24×7. That’s why the most significant advantage of AI customer support is its 24×7 availability without fail for 365 days a year. While employees can only work 40 hours a week, AI chatbots and virtual agents have no limitations. They can even handle customer queries during public holidays such as Christmas, Thanksgiving Day, and New Year’s Day.
It makes the customer support process a lot more efficient by reducing the wait time. For example, if a customer raised a query on a Friday evening, they would have to wait until Monday to get a response if the brand only relied on human agents. With conversation AI, the response will be instantaneous and on-point.
2. Reduction in Labor Cost
For startups and SMEs who have limited resources, it’s not easy to hire customer support agents at a whim. So instead, they would focus on hiring marketing specialists and developers who will help them build their business.
In this scenario, it’s a good idea to invest in AI customer support technology. Firstly, AI chatbots cost less than human agents and can engage with customers simultaneously without breaking a sweat. For instance, they can make product recommendations to one customer and ask for feedback from another.
3. Decrease in Customer Churn Rate
A churn rate is defined as the rate at which customers stop doing business with a company or a brand. You would be surprised to know that the biggest reason for customer churn is not a better price elsewhere but lousy customer service. 65% of customers have switched to different brands because of poor customer service, according to research by Khoros.
Artificial intelligence can bridge the gap with chatbots and virtual agents and improve the overall customer experience. They can offer personalized customer service, reduce support tickets, avoid complications, and automate processes like order status, return policy, and delivery time. You can measure the performance by looking at metrics such as average handling time (AHT), customer satisfaction (C-SAT), and deflection rate.
4. Data and Insights on Customer Behaviour
AI customer support provides comprehensive customer service and collects data about customers such as demographics, psychographics, interests, purchase history, etc. Businesses can use this data to find valuable insights and adjust their marketing and sales strategy.
AI chatbots use natural language processing to understand the context behind service requests and collect behavioural insights that businesses can use to improve customer experience. For example, a business may notice that they are getting a lot of order return requests. AI insights might reveal that the reason for the increase in order return requests was damaged goods. Now the business can take actionable steps to resolve this issue.
5. Automated and Secure Transactions
Almost 60% of people aged 25-40 use chatbots to make purchases regularly. That’s why businesses are integrating chatbots with payment gateways companies like PayPal, Stripe, etc., as part of the sales strategy. As a result, it is easier for customers to make payments automatically without any fear of fraud and scams.
Mastercard, for example, created a Facebook Messenger chatbot for merchants and companies who want to accept QR payments from their customers via Facebook.
6. Achieve Unparalleled Scalability
Conversational AI technology offers scalability that human agents cannot match. Take the holiday season, for instance. It’s that time of the year when businesses see a 50% increase in customer queries and complaints. It would be difficult for human agents to handle a sudden rise in support tickets. Even if they do, the quality will suffer, which could result in a below-average customer experience.
With the help of AI chatbots, you can handle the holiday rush without compromising the customer experience. You don’t have to hire new support agents and train them.
Similarly, if your business grows exponentially in the next five years, the capital investment in the customer support department will remain insignificant, thanks to artificial intelligence.
The Future is Here
Businesses of all shapes and sizes have already started shifting towards AI customer support, and so should you. Insync.ai offers custom-built AI chatbot solutions that you can integrate into your business within weeks.
Request a Live Demo to see how the enterprise-grade AI chat technology can seamlessly work with your company’s CRM system and satisfy your customers.