Do you know what the correlation is between chatbots and cash flow? Chatbots are designed to integrate with web-based platforms and interact with customers – providing them with product information, answers to their questions, entertainment, tips, and more. But, there’s a lot that these bots can do to eliminate tasks for small business owners. In fact, a term commonly used to describe bot technology is “Virtual Assistant.” Shopify says you can “hire” its “virtual marketing employee” Kit starting at just $10 per month.
The Kit API performs digital marketing tasks, such as email marketing and Facebook and Instagram advertising – and, sends a daily follow-up via SMS or IM with advice on how to improve marketing campaigns, which users can implement at the click of a button – by simply replying ‘Yes.’
This is just one of many ways SMBs can utilize bot Virtual Assistants to perform daily tasks. However, chatbots can do more than filter calls, generate leads, and support marketing campaigns. Chatbots can help small business owners improve cash flow.
5 ways SMBs can use chatbot technology to improve cash flow operations:
Reduce Costs for Live Customer Support
Chatbots can be used to replace live customer support agents. By hiring Twyla, for example, businesses can focus on sales and use customer service agents more efficiently. And McKinsey research shows a purely digital journey drives higher customer satisfaction.
Related: SaaS Platforms To Growth Hack Your Business or Career
Increase E-commerce Sales
Bots can improve your entire sales channel. They can collect and gather data for new sales leads and tailor product offers to influence purchase decisions. The 1-800-Flowers bot offers suggestions and allows users to select and send floral arrangements – completely eliminating the need to speak with a sales agent. The company’s president Chris McCann told Digiday, “Most customers, especially millennials, would rather interact with a robot than a human.”
Educate Personnel/Reduce HR/Increase Worker Productivity
Smart bots can train personnel, handle Human Resources’ onboarding of new employees and boost employee productivity by delegating tasks. Loka, Inc’s enterprise chatbot Jane is a knowledge base for your business. Employees can ask it anything and receive a timely response – allowing HR departments to tackle bigger problems.
Improve the Customer Knowledge Base
Similarly, bots can be used to improve the customer’s knowledge base by helping them easily find the relevant company and product information they need. noHold, Inc’s. Albert is a patented technology that feeds bots information from Word and Google documents – turning Product Guides (or backend Policy Manuals, etc.) into informative conversational chatterbots while reducing delayed response times and misguided information.
Boost In-Store Sales
Using Amazon’s Echo and Alexa Skills Kit, the voice behind Echo, Campbell’s soup customers can give the voice command “What’s for dinner?” and instantly receive meal and recipe ideas. Fandango’s bot delivers nearby theatres locations, showtimes, trailers, and movie tickets.
