How Chats Bots Are Changing The Face of Business

From early childhood, Millennials have been exposed to technology. This has altered their behaviour and expectations of business as well as their engagement with consumer brands. These individuals with a significant buying power are tech savvy, yearning convenience, time-perceptive and overindulged by choice. So how can business utilise the latest technologies to better cater to millennial customers and surpass their expectations?

Instant Gratification

Millennials have access to smartphones, laptops and gadgets that offer real-time access to the latest information and instant gratification at their fingertips. However, this has created a generation of time-sensitive and impatient consumers. According to Desk.com, 52% of millennials will abandon a purchase should they not find an answer to their inquiry quickly. These customers have no time to waste, so speedy customer service has never been more important.

Responsively, smart brands are turning to AI-powered ‘chat-bots’ to converse with customers. Chat-bots allows brands to setup 24/7 instant customer services for inquiries, automated ordering systems and customised suggestions. 


Driving Conversation & Sales

Conversation commerce is the act of purchasing goods through online dialogue and millennials are the key driving force behind this trend. Their mass adoption of smartphone technology and messaging apps paired with a desire for convenience, presents a huge opportunity for businesses brave to take on this challenge.

Chat-bots arm businesses with the ability to engage millennials via messaging that they access consistently via their smartphones. Using this interaction, big data and advanced analytics allows businesses to offer personalized product options perfectly matched to each individual. Exactly what millennials seek from brands - an entire online experience crafted to their personal tastes.

With an increasing volume of millennial customers seeking personalisation it is clear that no human salesforce could compete and offer a credible profit margin. Chat-bots are the only viable solution to this emerging market space.
 

Gen DIY

When it comes customer issues, tech savvy millennials are major users of do-it-yourself customer service. They are comfortable searching web forums and FAQ pages. Businesses must ensure that their DIY customer service options are comprehensive and flexible enough to deal with an increasing range of inquiries. 

Chat bots can add benefits to this experience through site direction, recognising hidden opportunities for the customer experience, predicting gaps in service and answering inquires. All in all adding positively to the millennials consumption of your site and products.

Brand Disloyalty

And why is it important to impress millennials?

This generation of customers are offered more choice than any previous buyers, which means that customers are no longer afraid to leave brands behind if they are not satisfied. Likewise, millennials typically avoid human interaction in a complaint situation, so there is little room to re-capture their loyalty once they have been disappoint.

However, chat-bots are set to be crucial in this space. Chatbots offer a speedy responses, sentiment analysis, instant feedback and escalation if required, leaving you with a chance to re-gain the customer before they lose interest. Best of all is that these artificially intelligent chat-bots don’t get tired, are un-emotional and always respectful. This is the winning combination that is bound to end in positive complaint resolution and capture customers returning.

The truth is that the face of customer service is changing, whether businesses are willing or not, they must adapt to the needs of their consumers. This means moving into new conversational spaces for millennials in order to tap into their huge spending capital. Businesses that fail to evolve will ultimately risk their place amongst competitors in the marketplace.