What’s the ROI of a Chatbot for Your Store?

By December 20, 2018ecommerce cro
Chatbots

70% of millennials prefer to shop online and spend 6 hours per week doing so. They also prefer using text messages over emails to communicate with businesses on their smartphones.

40% of shoppers don’t mind getting help from an AI tool.

Furthermore, 80% of businesses either already use or plan to use chatbots by 2020.

While only 27% of consumers expect an instant response to an email, 75% of consumers expect an immediate response from a chatbot. Giving immediate responses is surely a plus in favor of having a chatbot.

For example, with over half a million fans on Facebook, Cupshe’s chatbot lets customers browse and shop conversationally.

Chatbots can serve various use cases, such as for top of funnel conversions, boosting your marketing strategies, and cutting down on customer service costs.

What’s the ROI of a chatbot, you may ask?

Take this hypothetical scenario by Ecommerce Chatbots: A call center has 50 seats and answers calls between 8 am and 8 pm. The average call is 5 minutes long, and each agent takes about 10 calls per hour. That’s 2,400 calls per day. We can assume that 50% of those calls are for order status, product inquiries or FAQ type questions. If a chatbot is used to completely handle 50% of the order status, product and FAQ calls – that’s 600 calls. Let’s say that average cost of an inbound call to a customer contact center would be around $5. For 600 calls, that’s $3,000 per day. That is a total of $780,000 per year, far outweighing the cost of the chatbot development and maintenance.

I recommend you test out a chatbot on your site, which integrates in your Live Chat, and also Facebook Messenger. I haven’t researched all the solutions available, but a good example is Ochatbot by Ometrics.

Do you have a chatbot set up for your online store?

 


Sources:

Matt

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