Whether to invest in a chatbot or not is an increasingly important question. And as bots continue to gain popularity, new chatbot use cases emerge for businesses across all industries.
There are dozens of scenarios where chatbots can improve the customer experience and drive positive ROI. For some businesses, these benefits may be obvious. But for others, it’s not so clear.
This two-part guide aims to illustrate specific chatbot scenarios based on industry verticals. The goal is to showcase just how powerful bots can be when used effectively.
In part 1, we cover chatbot use cases in the cable, insurance, and the utilities sector.
Cable and Internet providers have their work cut out for them to acquire and retain customers. Competition is fierce and price plays a major role in the buyer’s decision. With this in mind, there are 3 main opportunities for chatbots in the cable sector:
- Improving effectiveness and efficiency of technical help;
- Cross-selling products and services;
- Improve billing inquiries.
Subscription upgrades (left)
Programming chatbots to offer subscription upgrades can be an effective way to drive revenue. In the subscription use case above, the bot features built-in payment functionality to ensure the switch to the new plan is fast and seamless.
Technical assistance (middle)
Seeking technical help can often be a pain. Customers need to choose the appropriate department and know enough about the problem to articulate it. This is all comes after waiting on hold for an agent.
To improve this process, chatbots can answer the front line technical inquiries that require the same answers. Using rich media such as images and videos, chatbots can guide customers to resolution.
Simple decision tree models provide customers with a simple, intuitive process to get the information they need.
Account management (right)
Customer privacy is essential and it’s imperative that businesses protect their customers’ information.
To maintain privacy, account management chatbots (fig. 2) can use custom authentication gateways to protect confidential information. This functionality ensures personal information is secure and locked behind a secure gateway.
Few industries are as well suited to innovation quite like the insurance industry. This is a big reason why so much money is fueling artificial intelligence research in the area. Major insurance providers are looking for ways to acquire new customers while improving the experience for current customers.
Filing a claim (left)
Chatbots provide a fast, efficient way for customers to lodge an insurance claim. Once verified, chatbots guide them through the claim process using decision tree modeling.
The major benefit of automation in this scenario is speed and simplicity. By answering a few simple questions, customers can lodge their claim in the click of a few buttons.
Improve customer service (middle & right)
The net promoter score (NPS) is the industry standard in assessing the customer’s experience. A high score (8-10) indicates a positive experience and that the customer is more likely to share their experience with others.
Customer service is the direct line between a business and its customer. Therefore, it plays a significant role in determining a company’s NPS. Poor customer service experiences result in a low NPS.
Chatbots offer a solution to make FAQs conversational. They can provide customers with the quick answers they need to common questions. An added benefit of this is the reduced impact on customer service teams. With lower volumes of inquiries hitting call center agents, they have more time to individual customers. This improves the quality of service and drives a higher NPS.
Utility providers are often renowned for less than favorable customer service. Long hold times, complicated processes, and a lack of communication are among the common problems facing customers. And contacting customer service department doesn’t exactly instill a sense of confidence.
Account inquiries & customer service
An always-on connection to customer service provides peace-of-mind for customers. With a chatbot, they can enjoy an always-on connection to businesses and access their account at any time.
Automating the repetitive customer service requests is an easy way to improve the experience for customers. In the end, customers will value the direct and open communication line to customer service available through bots that saves them from waiting on hold or waiting for an email reply.
Emergency updates & outages
This is a scenario that’s unique to the utilities industry. Here, mobile messaging and automated chatbots can be used to provide customers with relevant, up to date information in real time. With an open, free-flowing line of information, customers can easily stay safe and informed.
Again, this would improve the relationship utility providers have with their customers.
The tip of the iceberg
These are just some examples where chatbots can improve the customer experience for businesses. It’s important to remember that we’re only in the early days of chatbots. As such, there will be plenty more opportunities that arise for businesses to use bots and automation to improve efficiency.
What matters now is that businesses assess the applicability of bots so they can take full advantage when the technology matures.