Terrace’s last blog discussed how using tactics like personalized emails, utilizing text messaging, and responsive social media practices can help reach customers wherever they may be and provide a cohesive customer service experience. However, responding to customer service requests can be challenging, especially as customers increasingly turn to non-traditional channels online in search of quick and easy answers to their problems.
By 2020, 85% of all customer interactions will be performed without a human. To stay ahead of competitors, the average eCommerce business should make the investment and use automated technologies to handle the top 25% of its customer service requests in order to give customers the best possible experience.
Automation is Worth the Investment
Customer service expectations are at an all-time high. 54% of overall customers and 66% of millennials have higher expectations for customer service than they did a year ago. As positive customer service experience becomes more prevalent and hands-on in the eCommerce industry, meeting customer expectations is now critical to customer retention. Consider the benefits of four key automation techniques:
- FAQs: Frequently Asked Questions sections have been a staple of many websites for years. However, providing an engaging chatbot platform that works within the confines of the FAQ page combines those questions with natural language understanding technology to give immediate answers. It’s like having a customer service representative available 24/7. In addition to increasing engagement and customer satisfaction, ROI is increased when your employees have to directly answer fewer requests.
- AI: Chatbots and voice recognition aren’t the only uses for AI in customer service. For example, excellent customer service hinges resolving issues quickly. A key way to identify problems is through “social listening” in order to understand what customers are saying and which customers are having issues. It is virtually impossible to monitor every mention of your brand online; however, AI can use Natural Language Processing and machine learning to process mounds of data and identify which customers need response. Additionally, artificial intelligence can sift through millions of pieces of data about customers and help personalize messages and marketing tactics.
- Chatbots: While the exact cost savings varies by industry, recent findings from Juniper Research estimate the banking and healthcare industries alone will save $8 billion per year by 2022 just by using chatbots. Bots improve efficiency and productivity by providing quick answers to customers, which reduces administrative costs since staff can spend time on more complex tasks. Additionally, bots can handle simultaneous interactions so customers aren’t required to hold for a representative and additional staff is not needed when customer request volumes increase.
- Voice recognition: Advanced technologies in voice recognition have evolved beyond antiquated automated systems that rarely understood customer voice commands. New solutions combine machine learning and advanced speech recognition to provide superior interactions, efficiently translating a customer’s words into commands. According to IBM, these new technologies can deliver 60% to 80% cost savings when compared to traditional call centers using actual humans.
It’s What Your Customers Want
With automated customer service, consumers get immediate access to reliable service that never closes for the day. One survey found that 69% of customers prefer chatbots for quick communication, indicating that customers want self-service options instead of waiting on the phone or waiting for an email response. Further statistics suggest: 50% of customers think they should be able to solve service issues themselves, and 70% expect a company’s website to offer these options.
- 50% of customers think they should be able to solve service issues themselves.
- 70% expect a company’s website to offer these options.
- Consumers are willing to spend 17% more with brands that deliver superior customer service.
- 77% of customers will recommend a brand to a friend after just one positive experience.
- Increasing customer retention by just 5% increases profits anywhere from 25% to 95%.
Automating at least 25% of customer service requests with artificial intelligence and chatbots can help to improve the overall satisfaction customers have with a brand and lead to immediate financial results while simultaneously freeing up staff to address more complicated issues.
Be the best at making your customers happy, and you’ll get customers that continue to come back. Visit our website to get in touch with Terrace’s team of experts to learn more about the services Terrace can provide.