Social media channels are now primary customer contact points because companies receive millions of daily queries. The art of managing social media inquiries, especially as businesses expand their online footprint, has become a challenge. AI-based chatbots offer a perfect fit, as they help organisations handle and respond to such inquiries cost-effectively and efficiently while improving consumers’ satisfaction.
In fact, according to a report by Yahoo Finance report on global chatbot market growth, the global chatbot market size was valued at USD 3.78 billion in 2021 and is projected to expand at a compound annual growth rate (CAGR) of 30.29% by 2027. This kind of growth makes using chatbots more critical, especially when handling the influx of social media requests.
According to a survey by HubSpot, 90% of customers expect an ‘immediate’ response to their question about customer service as either important or very important, with 60% of consumers defining ‘immediate’ as 10 minutes or less.
This expectation can be highly challenging for businesses in different time zones or those lacking an adequate customer support staff. Chatbots maintain 24/7 customer support, and any query is immediately replied to. For instance, rather than forwarding a basic question regarding your business, such as “What time are you open?” or “Do you deliver your products to other countries?” to a human representative, the chatbot can professionally address it immediately.
These are the 24/7 availability capabilities that help to increase customer satisfaction, especially in markets with active customers during off-business hours. According to the Zendesk CX Trends Report 2024, 70% of CX leaders are reimagining customer journeys using generative AI, leading to improved personalization and customer satisfaction. Additionally, 83% of CX leaders who have implemented generative AI report a positive ROI due to enhanced efficiency in handling customer inquiries through chatbots and other AI-driven tools. Handling High Volumes of Inquiries
The increased adoption of social media has led to organizations being flooded with many customer queries. Indeed, it has been evidenced that organizations these days get at least nine times more customer service inquiries through social media platforms than they used to five years ago. Human teams fail to perform even if reasonably resourced, customers, and are as they often lag, especially during heightened demand or after an announcement/promotion.
Chatbots are effective in handling such large volumes of queries. Tidio reported that the firms that incorporated chatbots saw a drop in their cost of customer service of up to 30%. Chatbots can attend to 1000s of queries at the same time. Sophisticated inquiries can be easily transferred to operators, which helps businesses manage their resources optimally while not neglecting any client.
Another significant advantage of using chatbots is that they frequently offer predefined answers to customer issues. While human agents are expected to know their script, they may sometimes give different responses due to misunderstanding or tiredness, to the dismay of clients.
For instance, chatbots can be designed to help manage social media inquiries such as refund policies, stock, and delivery details. This consistency ensures that customers consistently get credible information, which builds their trust in your brand.
However, while it is wise to maintain consistency, it is equally wise to deliver personalization for the customers. Today’s chatbots possess artificial intelligence that enables them to adapt the communication process to fit the user’s previous actions and preferences. Salesforce’s State of the Connected Customer Report showed that 57% of consumers are ready to share personal information for the sake of being offered or provided personalized products and services.
Chatbots then employ this data to create better experiences. For example, if the customer wants to find some products with sustainability issues, the chatbot can recommend similar products the next time they talk. Such a proactive approach helps keep customers engaged and interested in returning for more services.
Also, the information consumers provide during the chat with the bots is valuable for identifying their wants and needs. Data-oriented companies are more likely to acquire customers more likely to be profitable. Chatbots do not only collect information but also assist businesses in understanding patterns and enhancing their products, making them valuable for the long term.
However, the human touch is still relevant in resolving customers' complex queries or complaints, involving emotions and critical thinking. For instance, a recently released PwC report shows that 59% of consumers think that businesses should use a blend of chatbots and human agents.
Chatbots would help sort out basic queries and generate solutions while allowing human agents to address a higher level of concern. Such integration of AI and human agents also increases efficiency without compromising the attention a customer should be offered if necessary. The customer details that the chatbot acquires and consolidates help the human agents get right to the issue instead of asking basic questions, saving time.
The discussion of the economic impact of chatbots shows that it is not limited only to the positive outcomes of customer satisfaction. These cost savings are primarily attributed to the ability to eliminate time-consuming tasks and the diminished need for large customer support divisions.
Customers are valuable assets, and keeping them engaged helps with customer retention. Intercom mentioned that the companies that adopted chatbots recorded a 67% boost in customer interaction. Regardless of whether they are helping customers navigate through the buying process, customer service, or product recommendations, chatbots do not let the clients disengage from the brand.
Social media has become crucial for managing social media inquiries, and chatbots are an effective, affordable solution for improving customer experience. Some of their strengths are their availability, capacity to handle many queries, proactivity in customising answers, and integration with human advisors.
The statistics are clear: chatbots are enhancing customer experience and cutting billions of dollars for companies. As more companies embrace AI-powered chatbots, the potential for improving customer service, driving engagement, and boosting profitability becomes clearer.
Why let slow responses damage your reputation? Learn how ServQuik’s chatbots can help manage social media inquiries and 24/7 customer support, ensuring no customer is left waiting. Don’t risk losing customers to competitors with faster support.