Every brand today is running a race against their competition to close the enormous CX expectation gap that exists in 2021.
Meeting the modern consumer’s expectations for speed, personalization, and ease requires far more than doubling down on existing CX practices. A huge shift in consumer behavior demands a corresponding shift on the side of brands and companies.
With expectations for speed serving as the primary bottleneck for brands, meeting modern consumer expectations requires the adoption of technologies and solutions that are dedicated to generating excellent customer experiences at scale. Chatbots are at the forefront of these technologies, and while they may seem like nice-to-haves in the present moment, they will soon be seen as essential as more and more businesses that fail to meet customer expectations fail to turn a profit. Chatbots can help businesses improve CX.
This report examines how brands can begin to close the enormous CX expectation gap that exists today, and demonstrates why the adoption of technology like automated chatbots is a necessity if brands want to do so successfully at scale.
Key Insights From the Report:
- Over a five-year span, brands that were leaders in customer experience grew revenues 14% more than brands that held below average CX scores.
- In the US, even when people love a brand/product, 59% will walk away after several bad experiences.
- In 2020, brands that leveraged chatbots for sales purposes increased sales figures by an average of 67%, with 26% of all sales starting through a chatbot interaction.
- After adopting Astute Bot, quarterly customer satisfaction ratings for one retailer increased by 6%, while support operational costs decreased by an estimated $546,000.
- After adopting a chatbot, 88% of brands saw a reduction in call volume and 75% saw an improvement in cost savings.
Download the full report now and see why it’s clear as day: modern brands are facing a major CX crisis, and chatbots are a technology that will be a critical part of the solution.
Before Socialbakers, Chushi worked at an early stage SaaS startup in silicon valley as a marketing generalist. At Socialbakers, he works as a content marketing specialist.