While running a business the target of an organization is to keep the cost as low as possible. It serves the dual purpose essential for an organization; firstly it helps in maintaining the profit margin and secondly it keeps the prices reasonable for your customers to remain loyal.
An organization always strives for opportunities wherein they can benefit their business by keeping an eye on their business costs. Chatbots could be an example of one such opportunity.
Though they have been around for a while now an increase in its usage was recorded last year. Let's have a look at some of the Pros and Cons of Chatbots.
• PROS OF CHATBOTS
1. Quick Customer Service
Chatbots aid in providing faster customer service. The trouble of waiting for a human to retrieve is gone, as you can ask anything from the bot on your device and they can answer in a few keystrokes.
2. Customer Satisfaction
The advantage of this technology is that your customers will be satisfied. Satisfactory answers, fast services will make your customers happy and force them to come back and shop more.
3. Reduced Labour Costs
Since you don't have to pay for employee benefits, Chatbots give you the advantage of keeping your costs down Hence decreased labor costs translates into increased profits for an organization.
4. Multipurpose
Chatbots can be used for customer service or orders, advertising purposes, etc.
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• CONS OF CHATBOTS
1. Limited Responses
Chatbots offer faster customer service, but they aren't perfect. They provide limited responses to the customers therefore not everyone will seek answers they were searching.
2. Frustration
Since Chatbots reply from a limited database, they can't improvise. If they get confused, the conversation between the customer and chatbot will run in circles, where they won't arrive at any conclusion thereby resulting in frustration among the customers.
3. Complex Chatbots are Expensive
Though Chatbots could quickly solve the problems mentioned above, they would cost more than the simple chatbots. Hence the purpose of Chatbots of saving the money thus becomes a failure.
4. Chatbots are not fruitful for all Businesses
Individual businesses are way too complicated for Chatbots to be practical. Trying to program answers to all the queries would be expensive. Additionally, to design such a programme will be a mammoth task.
It's valid that utilizing chatbots in a few organizations is a suitable method to bring down expenses and increment benefits. Be that as it may, you ought to think about the more significant part of the advantages and disadvantages before adding them to your business.
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