To Bot or Not to Bot? Why Customer Service Chatbots? [Infographic]

Consumers and companies seem to be on the same page. Customer Service Chatbots are the answer for a better future in customer service. More than 60% of consumers report seeing the future in customer service through chatbots. So let us look into the question, Why bots?

The next generation of chatbots is all about having a Chabot which is AI assisted. Technology vendors like Google, Microsoft or IBM support the development of chatbots with own frameworks and ready SDKs.

Soon, researchers predict, up to $0.70 could be saved per transaction via the use of bots, according to an infographic by Comm100, a chatbot provider.

Nearly 50% of consumers are already engaged in automated conversations with chatbots. 

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This is exactly the same experience we in Skillz Middle East share. If we talk about transaction-based services, chatbots can really make a difference. With chatbot use growing, businesses and organizations are required to have a system in place to understand what sort of return they’re getting from the technology. The infographic shows in five steps how to achieve ROI with chatbots in place.

1. Identify eligible queries – First, examine what queries your company currently receives over live chat. Then, identify the top simple queries that could be resolved by a Chatbot.
2. Calculate the percentage of chat dealing with eligible queries – Calculate how many of your chats are made up of si1nple (what a bot could answer) vs complex queries (what an agent should answer). Note that the 80:20 rule usually applies – 20% of queries represent 80% of query traffic.
3. Calculate agent time spent on eligible chats – Calculate the estimated handle time for these types of simple inquiries.
4. Estimate the annual cost of handling eligible chats – Multiply the hourly pay of your agent by the hours spent on these kinds of interactions. Get your annual cost by multiplying your monthly cost by 12.
5. Understand how your chatbot stacks up – Compare your annual cost with your quoted Chatbot cost to find out how much you could save.

Furthermore, we can see impressive data about the usage and acceptance of customer service chatbots across the industry and answers the question “How can chatbots help me save?”. Are you using already chatbots in your business? If yes tell us which area and how long the learning phase has taken? Use our commenting section below to exchange with your peers in the discussion about customer Service chatbots.