Chatbots are one of the fastest growing tech tools and strategic hybrids that even some of the largest corporations in the world are embracing. Coca Cola uses chatbots to help increase sales with vendors, Marriott has three different chatbots to help increase bookings and upgrades, and 1-800-FLOWERS is developing chatbots for every major channel. In fact, according to a 2018 Oracle survey, 80 percent of businesses want chatbots by 2020 with the goal to improve their bottom line reporting.
But how to chatbots have a direct impact on your company? And how can they leverage marketing automation for your own company?
This article is intended to help businesses learn how to find the best chatbot technology suited for their business goals, and what other strategies can potentially play vital roles in maximizing chatbot technology and your ability to hit your high revenue targets.
Why are Chatbots Such Crucial Parts to Digital Growth Marketing?
Remember back in 2005 when “content is king” was that overused slogan through around at every digital marketing meeting from Los Angeles to London? Content is still crucial, but now many are arguing that “technology is king”, and with good reason.
Today’s buyers are savvy. Gone are the days when someone finds a landing page that invites them to call a sales team. People use technology in their daily lives from smart home devices to mobile phone personal assistants, and from gadgets like the Oculus to improve the entertainment, gaming and online shopping experience, and everything in between. People also like to research before making a purchasing decision, and they like to compare product features, read reviews, and compare costs.
Chatbots can fill this void; they can cut thousands of dollars in cost by assisting leads in making a purchasing decision while removing the need for human beings to do it (usually companies spend thousands outsourcing to call centers to engage in live chats). Chatbots can be customized to improve the user experience, educate leads, book reservations, and even play a direct role in converting leads to sales.
How Chatbots Save Companies Money
Chatbots allow companies to streamline how employee time is being spent in operations, and it can even remove the need for additional salaries. Today’s chatbots can be programed to give that human experience by asking deeper questions, they can collect data on your leads, and help answer questions thus removing the need for human beings to perform the role. This means your internal team can play a role in areas where their skills and time can be best spent to help you hit your goals. As previously mentioned, thousands of companies spend obscene amounts of money to outsource live chat to foreign call centers. In most cases, performance is poor, and the ability to collect valuable insight and data from leads that can be shared with your sales and marketing teams are virtually impossible.
On the other hand, chatbots are cost-effective, your digital growth marketing agency and internal marketing teams have a clear screenshot of all conversations, acquired data that can be used to optimize various campaigns, and, if you invest in a growth marketing stack from a top digital marketing agency using a powerful CRM, you can even see how many leads converted from chatbots and even earned revenue amounts.
Chatbots and Growth Marketing Stacks Work Together for Maximum Results
If you are a mid-size or large corporation with a longer sales cycle, investing in a growth marketing stack that includes chatbot technology will likely give you the biggest return and allow for the greatest improvements to your bottom line. Remember, chatbots can only work well if the traffic quality is solid, and a growth marketing stack is a set of tools and strategies that work together to help generate, nurture and convert high-quality traffic–people who would land on your target page with chatbots engineered to speak specifically to your customers, and that know their needs and pain points at an intimate level.
The WEBITMD Growth Stack: Accelerates Business Growth, see how Chatbots can Improve Your Bottom Line
Download our FREE guide on the WEBITMD Growth Stack. Learn why our methodology works, how you can track your investment, how it improves bottom line reporting, and imagine how chatbot technology can leverage every tool and strategy in your own custom growth stack.