People will always choose a financial advisor they can trust. But how do you gain their trust?
You need to be able to display a degree of expertise that will give them the confidence to let you manage their money. You also need to be able to communicate with people effectively and build a relationship with them.
With the help of chatbots and AI, your clients can get answers to their questions 24 hours a day, 7 days a week. This gives them constant reassurance that you’re there for them and eases any concerns they may have using messaging that’s consistent with your brand.
Here are a couple of reasons why chatbots are an excellent addition to any financial website.
Research has shown that chatbots can handle up to 80% of routine questions that you or your customer service frontliners have to deal with every day.
A chatbot can also quickly filter out spam messages and interactions. This frees up a lot of valuable resources, which you can then focus on resolving more important issues.
With enough data and good AI, you can even train your chatbots to answer more advanced queries that can further reduce the load on your frontline staff.
Adding a chatbot to your financial site lets you interact with your clients on at least a basic level even in the middle of the night. A pressing concern during off hours or when you’re on vacation can often be addressed by a bot.
Chatbots can provide additional information that may not be able to fully resolve an issue, but can at least put your clients’ minds at ease. Bots can respond immediately and can quickly alleviate any growing concerns. In many cases, users can hardly tell if they’re talking to a machine or a human. It doesn’t really matter who is delivering the message. Sometimes, all a client needs is a prompt response and some form of reassurance.
You can train a chatbot to let customers know when they can expect a reply from you or give them other ways to contact you and your team. Ideally, your chatbot should be smart enough to be able to quickly suggest possible solutions or answers that can point your client in the right direction.
Whenever you’re up to your neck addressing multiple client concerns, there are going to be times when you simply cannot handle any more requests due to lack of manpower.
A chatbot never gets tired and can reply to multiple customers simultaneously. If you have a chatbot, you’ll have at least one channel that never drops or refuses incoming clients due to being too overworked.
When you have a bot manning the helm, your business can interact with and respond to every potential or existing client that has a concern.
Chatbots can also significantly decrease the number of dropped or bounced chat sessions where clients just gave up after waiting too long for a response from a live agent. This should help nudge your customer satisfaction numbers a few points higher.
A chatbot is an excellent resource for generating new leads and collecting information from your target audience. Having a chatbot on your website that’s always ready to collect information from website visitors means you can constantly collect data about your target audience.
A chatbot session can tell potential clients how to set up an appointment, which department or people to contact, or when they expect to get a response back from a member of your staff. In return, your customers are giving you more information about themselves and what their issues are.
What else can you do with all the data your chatbot is able to capture from your site visitors? You can use this new data to further analyze the needs of your user base and prioritize the most important ones.
This crucial data can help shape the future of your business and drive you to make operational decisions you wouldn’t have normally made if there was no data to back it up.
You can also use the consistent stream of customer feedback your chatbot is able to capture as a barometer for how well your business is going. This data is an extremely valuable resource to your business if you know how to analyze it properly.
Chatbots may seem like a frivolous use of your time and money at the moment. But eventually, more and more people are going to expect that many customer service interactions will be promptly resolved by a bot.
More and more companies are adopting the technology, and interacting with a bot is quickly becoming a daily thing for many. We have Siri and Google Assistant on our phones, and many have Alexa at home helping us sort out some of our daily concerns.
AI technology is also advancing very quickly, and has made huge leaps and bounds in the last five years or so. In just a few years, pretty much every company will have a chatbot on their website.
If you don’t act soon, your competitors might get a huge head start in the chatbot and AI game, and make changes today that will propel their business forward into the future.