More and more companies are embracing artificial intelligence (AI) business solutions, and the most popular AI business tools are conversational AI platforms. According to a 2023 Forbes Advisor survey, 73% of businesses use or plan to use AI-powered chatbots for instant messaging, which is skyrocketing as we power through 2024.
However, conversational AI is more than just a helpful and automated way for customers to ask basic questions over the internet. Conversational AI can significantly help your business grow revenue. From providing detailed and invaluable insights into your target audience to finding new avenues for upsells and product promotions. As a result, conversational AI can be integrated into your business to benefit your bottom line.
When using conversational AI for customer service, marketing, and identifying new or enhanced revenue streams, the key is to start by partnering with an expert. This is where C1M can be your guide on the conversational AI market and can provide the best AI business tools that are tailored to your distinctive company.
In the meantime, if you’re uncertain about using conversational AI to boost your business consider the following benefits of integrating AI into your everyday operations.
Top benefits of conversational AI in business
We will explore some of the many advantages of AI tools. Keep in mind that the best benefits for your company will be completely specific to your industry, business, and operations.
Enhanced customer service
The idea of chatbots in business environments can sometimes stir up misconceptions. If you remember the older, pre-AI chatbots of the 2000s to 2010s, you likely envision a basic messaging platform where you had to watch exactly how you phrased your queries, and you could only ask the most basic questions possible, like “when are you open?” or “what is your address?”
Modern conversational AI tools are miles away from their predecessors – like the way that modern smartphones are more advanced than their phonebook-sized 1980s mobile phone counterparts.
Today, conversational AI can tackle different verbiage, writing, and language styles. In addition, it can answer advanced questions and be trained to ask follow-up and personalized questions based on the users’ responses. Basically, customers can expect a high level of customer service any time they need to communicate with your company, and not just during business hours. This saves your personnel time on the phone or a messaging platform fielding question. It also gives your customers the freedom to seek out information on their schedule whenever they want.
Scalability and cost efficiency
Since this adept customer service at any time of the day (or night), conversational AI tools can save tons of labor costs and resource allocation for customer support while also handling thousands of simultaneous conversations at once. This means that businesses can expand without negatively impacting the level of their customer service. Therefore, it gives personnel the opportunity to focus on more advanced and proactive tasks that can enhance operations in new and distinctive ways.
Improving sales and conversion rates
Conversational AI is becoming so powerful and instrumental for businesses because conversational AI platforms are always learning.
Through thousands of conversations, these AI tools are learning more about your business and your customers, from their buying habits to their pain points to the products or services that catch their attention.
This information can be helpful in countless ways, starting with the conversational AI platform. Depending on the distinctive tool, businesses can use conversational AI to create personalized product or service recommendations, suggest upsells on current or future purchases, and increase revenue in many ways.
Conversational AI also tracks the timing of customer browsing and purchasing activities, as well as their progression through these steps. As a result, conversational AI can be utilized to guide customers through the sales funnel, leading to more transactions and conversion rates from your target demographic.
Gathering insights and analytics with Conversational AI
While conversational AI tools are doing repetitive tasks when it comes to customer support and sales initiatives, your human personnel behind the scenes are now aware of all data resources.
Every point of contact with a conversational AI tool provides insights. These insights include customer behaviors, common questions or complaints, your most popular products or services, to what triggers a consumer to make a purchase.
Best of all, this vast suite of data is specifically tailored to your business, so you no longer must rely on broad industry statistics that are merely generalizations.
Instead, your data collection and behavior analysis are tailor-made for your company and your company alone. Therefore, this makes conversational AI like a highly trained and detail-obsessed marketing executive that is solely focused on increasing your company’s revenue.
Enhancing – not replacing – your workforce
One of the most common fears when it comes to AI tools of any kind is that they have the power to replace humans, but this is not the case. The best way to implement AI in business is to treat these conversational AI platforms as the tools that they are – designed to enhance your personnels’ ability to do their job.
AI tools for business work best when they are utilized as a supporting instrument or an assistant, and not the sole provider of a particular job. When combined with your expert workforce, there is no telling what new initiatives your new team can take on, and what new heights your business can reach!
Implementing conversational AI for your business starts with expert guidance
Perhaps the most difficult part of using conversational AI to enhance your business operations is getting started, and this is where C1M can help.
We constantly follow and research the rapidly evolving artificial intelligence technology. In addition, our team of experts can help you find the best path forward when it comes to identifying and utilizing the best AI business tools that will transform your company.
Reach out to us today to start the conversation about conversational AI platforms. Our friendly and expert team at C1M is ready to show you how integrating AI into your operations can revolutionize your business.
