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Enterprises. Think behemoths. The big guns. The giants in the industry.
While there is no cut-and-dry explanation as to what exactly an enterprise is, one can safely assume that enterprise businesses are those whose revenues range from $1 million to a few billion dollars.
The E.U. defines enterprise businesses as those that employ more than 250 people.
According to Abhimanyu Singh, who leads the sales function here at Kommunicate, “Any company whose revenue exceeds $1 million is an enterprise by Kommunicate’s lens, but then, this varies from company to company.”
As you can see, the definitions may vary, but there does seem to be a clear picture emerging as to what an Enterprise business is.
An Enterprise business is a well-established, well-oiled machinery that employs a large number of people, has very well-defined processes, a complex structure, and generates a large amount of revenue.
We can already see enterprise businesses adopting chatbots to automate some of their functions. But there is a lot more that chatbots can do to help grow an enterprise. This is exactly what we are going to look at in this article.
Before we dive in, what exactly is an enterprise chatbot?
What is an enterprise chatbot?
An enterprise chatbot is a scaled-up version of a regular chatbot built to match the scale of a large organization. A normal chatbot and an enterprise chatbot solve essentially the same problem. The key difference here to note is that an enterprise chatbot helps solve complex, enterprise-level challenges to the business.
Here are some of the methods Enterprise chatbots can help businesses scale:
Businesses, especially eCommerce websites, occasionally see a massive spike in the number of concurrent users. This is especially during peak shopping seasons such as Cyber Monday or Black Friday.
Spikes may also come in during long holiday weekends, for which your business needs to be prepared. To mitigate these, you cannot entrust a normal chatbot. A normal bot may not have the bandwidth or the technical capability to handle thousands of users at the same time.
This is where Enterprise chatbots come in. Enterprises have the freedom to scale their conversation systems so that the chatbots can handle the plethora of queries that come with systems of such scale.
Customers expect consistency. In fact, investing in a consistent customer experience can potentially double your revenue, according to this research by the Temkin group.
A good customer experience means customers are willing to spend more on your product.
Case in point, the Apple stores. Sleek interiors, products that are displayed beautifully in aesthetically pleasing cases, and helpful and knowledgeable staff. These are the hallmarks of an Apple store.
No wonder that when the iPhone 14 Pro started retailing at $999, people queued up outside these very stores to buy them.
For an enterprise business, it is difficult to deliver personalization at scale. This is why an omnichannel approach works best to provide a superior customer experience.
This is where enterprise chatbots come in. One can deploy enterprise chatbots across multiple channels by techniques such as cloning. With this, they can provide a consistent customer experience across multiple communication channels, maintaining your brand’s omnichannel strategy.
Enterprise businesses, by nature, structure themselves in such a way that there are no data leaks. Considering the fact that they deal with customers’ sensitive data, which in some cases may run into thousands of customers, this data is extremely valuable.
With an IBM report that estimates the cost of a data breach as $9.4 million in the US, this is no laughing matter. Data, like oil, is one of the most precious commodities in the world at the moment.
Enterprise chatbots are already subject to a lot of regulatory procedures that help prevent data leaks and ensure security. Chatbots can also help in fields such as:
Customers of enterprise businesses expect a response from the companies around the clock, irrespective of where the business headquarters are or what their working hours are.
Taking time to respond to customer queries leads to a bad customer experience, something that companies should avoid like the plague. In fact, according to this Zendesk report, about 80% of the respondents would rather do business with a competitor after just one ‘bad experience.’
With chatbots, enterprise businesses can be online all the time and also provide instantaneous responses to their customers. Also, there is a reduction in the dependency on support agents who, in turn, can concentrate on resolving more complex queries.
Chatbots can be the first point of contact for customers, and the bot-to-human-handoff feature can also provide a seamless experience.
For repetitive queries, you can always use an enterprise chatbot that you can easily be trained to provide quick responses to customers. This creates a positive customer experience, which, in turn, can turn to increased revenue.
Even if the query is irrelevant / a chatbot is unable to provide the exact responses, getting quick feedback means customers feel looked after. This affects your customer satisfaction and CSAT scores, metrics which are quite important even for enterprises.
A good enterprise chatbot is also very proficient in the following fields- monitoring and analyzing customer data. This is a highly useful feature that helps organizations make sense of customer behavior and help effectively market their products.
Customer attention is also something that a lot of companies compete for, so enterprise chatbots can help grab this attention by sending out push notifications. Push notifications sent regularly at fixed intervals help enterprises increase their customer engagement.
Enterprises can also use chatbots to collect feedback from customers, which they can then use to improve their website, product, or service.
Another important application of enterprise chatbots is lead generation. How? When a customer is browsing through the enterprise’s website, chatbots can initiate a conversation with the customer. This can help the enterprise nurture leads and then nudge them toward the right team members.
Chatbots can help provide instantaneous responses to customer queries, and this level of customer engagement can act as a natural boost to the number of leads and conversion rates.
Parting words
Businesses today are trying to survive in an environment that is getting more and more competitive with each passing day, and it is the only technology that can help them stay afloat. An enterprise chatbot powered by AI is at the forefront of this technological revolution. Enterprises that decide to implement these enterprise bots have an advantage over those who choose not to do so. With a chatbot solution provider like Kommunicate, enterprises can be sure their needs are taken care of.
Originally Published here
5 Proven Ways How Chatbots Can Help Enterprise Businesses Scale was originally published in Chatbots Life on Medium, where people are continuing the conversation by highlighting and responding to this story.
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