Considering the need to adopt customer-centric marketing approaches with cutting-edge technological capabilities, more and more enterprises are counting on conversational AI tools to fuel their business performance. Although the top retail businesses have already employed chatbots to streamline their marketing endeavors, a lot of decision-makers are still looking for answers to some of these questions – ‘How is it going to help me in my business?’, ‘Is it a surefire mechanism to attend my customers?’, ‘Do I need to hire more people to manage it?’, ‘Is it too cost-intensive?’If you are one of them then we have you covered with a lowdown of chatbot technology and how it can scale up your retail business performance.

1. Enhanced customer service

Your buyers have become more tech-savvy than ever and they expect a prompt response from their service providers. It often becomes challenging to attend them at their beck and call and this is when chatbots come to play. From helping your potential buyers navigate your products better to addressing the complaints of your existing customers, your chatbot will take care of the response management 24x7. So when a customer wants to find out more about your products or services on your website or social media platforms, make sure they are never left unattended.

2. Streamlined marketing and sales assistance

Chatbots can be an invaluable source to boost the skill set of your marketing and sales associates. It helps keep track of all the queries and suggestions and your team can collect and curate the data whenever they want. This will help collate valuable insights and use it to improvise customer experience in the future.

3. More power to personalization

You can personalize the chatbot responses with different levels of communication techniques based on the questions they ask. AI Chatbots can be categorized into two – Structured chatbot and NLP-driven chatbots. While structured chatbots are scripted with a limited set of commands and expressions, Natural LanguageProcessing or NLP based chatbots are armed with the continuous machine language training support resulting in more human and intelligent response. You can consult with your technology provider to understand which type of chatbot will be ideal for your business.

4. Cost-effective than traditional customer services

According to Chatbots Magazine, business set-ups can save up to 29-46% in their customer services investments depending on the business type. Imagine attending to thousands and thousands of your global customers at the same time through a single chatbot versus a cost-intensive customer services team who might not be available round the clock to attend promptly to your buyers.

5. Remarketing made easy with email bots

Did you know, a majority of marketers give up after 2-3 attempts of follow-up marketing emails whereas over 50 percent of recipients are more likely to respond after 4-5 attempts? From keeping a record of all the potential leads to sending across effective persuasive messages, an email bot can be no less than high-performance marketing pro. What’s more, you can also keep track of the key performance indicator of your remarketing strategies by the bot analytics reports including bot conversations and sentiment analysis.For more information on how chatbots can streamline your retail marketing and lead engagement endeavors click here.