What is CRM and why does it matter?
CRM stands for customer relationship management. It's a system that helps companies understand and manage their customers better. CRM systems let companies store all customer data in one place and so improve customer care.
CRM systems matter because they help companies understand their customers better. By analyzing customer data, companies can find out which customers are most likely to buy or to leave. That way they can adapt their sales and marketing strategies and generate more revenue.
Another reason CRM systems are so important is that they improve collaboration between a company's departments. By sharing customer data, employees can work together better and so increase customer satisfaction.
That's why companies with good customer relationship management strategies usually record higher profits. Companies without such a strategy, on the other hand, struggle to build close ties with their customers because they lack valuable insights, and they miss out on potential profits.
Chatbots are among the best and most popular CRM tools on the market, because they save time by automating real-time customer support.
Want to learn more? Read on to find out what customers think of chatbots and how chatbots can support your CRM.
What do customers think of chatbots?
Chatbots are no longer the new technology everyone wants to get their hands on. Today, chatbots are fairly ubiquitous on most company websites and mobile apps.
A study by Mastercard shows that 87% of consumers know about chatbots, 66% have used them and 65% were satisfied with them.
We're in a time when the customer experience needs more attention than ever. The standards for a "good experience" have risen considerably.
With so many capable companies on the market, customers won't stick around if they feel they're not being treated well.
Chatbots can't fix all of a company's customer service problems, but they can certainly complement the customer experience in meaningful ways. We've reached a point where they're expected on most websites, and many industry insiders take this as proof that consumers like chatbots and enjoy interacting with them.
But what exactly do customers like about chatbots? Let's take a look.
Why do customers prefer chatbots?
Let's dive right in and find out why consumers like chatbots.
24/7 availability
Since chatbots aren't real people, they're available to customers at any time, on any day of the week. Regular business hours don't apply, and customers like that.
Instant answers
Consumers don't like to wait. In fact, almost 60% of consumers name long waiting times as the most frustrating part of any customer support experience.
About 65% of consumers wait 2 to 3 days for a reply from customer support.
Customers also increasingly refuse to wait on hold for help. Instead, they choose to find another company that doesn't keep them waiting.
Since chatbot answers are automated, customers get answers to their questions much faster than by email or phone.
Convenience
People's phones have essentially become an extension of themselves. The convenience chatbots offer on mobile devices lets consumers get help on the go at the push of a button.
The popularity of text
Consumers rely more and more on text rather than voice calls, and many people actually prefer texting with a chatbot to talking to a person.
Because of this trend, chatbots let people who prefer texting get the help they need while using their favorite way to communicate.
Familiarity with machines
Some people feel anxious or shy talking to strangers, even dedicated customer service agents.
Chatbots let people get answers to their questions without leaving their comfort zone and interacting with someone over the phone.
On top of that, the pandemic has made most people comfortable with machines, which has led to a trend of preferring them.
People who used to scorn Alexa or Siri now rely completely on this technology.
The same goes for chatbots. People who didn't use them in the past are finding that they can be just as helpful as live agents and are choosing to interact with them more and more often.
How can chatbots be used in CRM?
Now that we've explained why consumers like using chatbots, let's look at how chatbots can support your CRM.
Automate support
Chatbots are incredibly intuitive and able to recognize and respond to customers' needs automatically. If you let chatbots answer frequently asked questions, your customer service agents can focus on the problems that really need human help.
Increase customer satisfaction
As mentioned in the last section, customers hate waiting. But you can use that to your advantage by offering them instant answers! Chatbots answer instantly, and your agents can adjust the answers over time to make the chatbots even more intuitive.
Requests a chatbot can't answer can be forwarded automatically to your CRM, which creates a ticket and assigns it to a human employee. That way, customers can always reach the person who can help them.
Cut costs
The smarter the solution, the lower the costs. Instead of paying for a team of live agents to monitor the chat software on your website around the clock, chatbots can perform these functions automatically. That removes the need to pay for a human support team working outside regular business hours.
Drive sales
Chatbots can be programmed to recognize sales opportunities and even carry out sales actions such as recommending services or products. When the chatbot detects a sale, it can ask customers to fill out a form that's automatically forwarded to your sales team. In this scenario, the chatbot is essentially an automatic lead generator connected directly to your CRM workflow.
Scalability
Chatbots can make scaling a business easier, because they can seamlessly handle an increase in customer requests without your company having to hire more staff. This kind of scalability is crucial for companies that need to spend carefully.
Chatbots let your company handle more customer support requests without interrupting the flow or lowering the quality of the support your company offers.
Conclusion
CRMs matter because of their far-reaching impact on every aspect of a business. A positive customer experience is a prerequisite for success, and a good CRM can help achieve it.
And as you've seen, chatbots are among the most effective CRM tools a company can use. Make your life easier and keep delivering high-quality customer care by implementing a chatbot today!
