Chatbots are becoming a mainstay of everyday commerce, helping customers quickly connect with brands of all types and sizes and facilitate online sales.
According to a new study from Intercom, the automated messaging bots are also helping businesses save considerable amounts of money, with business leaders saving an average of $300,000 in 2019. However, the findings also reveal a disconnect between shoppers’ preferences and chatbot prevalence.
Notably the study found that 74% of customers surveyed expect to encounter chatbots on a website, though more than 85% of customers still prefer speaking with a human.
Although shoppers may not prefer chatbots, there are plenty of signs to suggest the bots are a uniquely powerful tool for driving sales. One prediction from Juniper Networks estimates the tool will drive more than $110 billion in retail sales by 2023.
The reason is that having a human available to respond to questions isn’t always feasible. Brands may not have the budget to have a receptionist or social media manager available at all times.
These bots help fill a needed gap in customer service, marketing, and sales simultaneously – leading to higher sell-through rates according to the Intercom study.
“Chatbots increased sales by an average of 67%, with 26% of all sales starting through a chatbot interaction,” the study found.