Let’s start with throwing some light on a fascinating finding by Gartner. It suggests that by 2020, an average person will have more conversion with bots than with their spouses. 

It’s not wrong saying that most of our daily routines have shifted to the online world. We shop, communicate, relax and learn new things virtually. The Internet has absolutely modernised our lives and simplified the way both individuals behave and businesses operate.

However, even with all these blessings in place, many businesses still struggle with low website conversion rates that hamper their growth in the long run. This article offers you a solution to boost your website conversion rates in real-time through the effective use of a chatbot.

What is a chatbot?

We have all seen a number of chats opening up the moment we visit a website, haven’t we? A chatbot provides an interactive chat-based platform wherein a user can get answers and information quickly. These conversations range from simple onboarding and documentation related queries to tech-related troubleshooting ones. 

Usually, a chat-bot is a one-time investment of time and effort, which in the long run helps in reducing manual effort and operational costs for a business and if designed well, offers a hassle-free and soothing experience for a customer. 

As per a report by the Business Insider, 67% of consumers worldwide have used a chatbot for customer support in the last year. According to another report by Forbes, 60% of millennials have used chatbots and out of them, 70% reported a positive and fulfilling experience.

Use cases of a chatbot

01. A chatbot can help you answer FAQs 

Let’s say a company hosts events. Prior to the event, there’s a lot of manpower required hence, it gets difficult to answer the questions attendees have via email or calls. These questions are usually like ‘Will the same pass be valid for 2 days?’, ‘Can I transfer my ticket to someone else?’, ‘Will there be on the spot registrations?’ ‘Can I get a refund?’ and so on. 

In such cases, setting up a chatbot, which can be activated on your website 24/7 can be of immense help. There are a number of platforms available to create chatbots within minutes that are quick, reliable and easy to integrate. You can simply set up the chatbot to answer the above-mentioned questions and more and let it interact with your visitors. 

chatbot use case
Source: Slush

02. A chatbot can help you collect feedback

You must have experienced a chatbot asking you to rate the services (remember the last time you chatted with SwiggyBot!). Every company that uses surveys to collect feedback has one thing in common: the difficulty in getting customers to participate in the survey.  It’s the effort to click on a link, land on a new web page, fill out a lengthy form that increases the drop off rate and hence, does not bring up a reliable score. 

However, if you embed your survey questions within a chatbot, you might get better results since all the middle steps will be gone and everything can be asked and gathered within one small box. 

03. A chatbot helps in lead generation

The way sales and marketing teams operate has changed drastically. Gone are the times when the leads were collected by door to door visits or by organising an event or sending long forms via email. 

To get in touch with a prospect customer, chatbots are currently one of the most efficient tools. Simply ask details like name, email address and if possible, contact number and get them stored in your database. You can further get in touch with them and start your post lead generation campaigns!  

04. A chatbot helps reduce load on customer support

Usually, an e-commerce business’s support teams are bombarded with calls for queries on delivery status, refund, exchange, return policies and so on. Building an efficient and robust chatbot can filter the queries by trying to answer most of them within the conversation and only forwarding the relevant queries to the support team. 

Source: GetJenny

The above mentioned are just some of the many use cases that a chatbot serves but did you know what’s the best part? You can also collect payments via chatbot! Read on to know how.

How to accept payments via a chatbot

One of the easiest ways to collect payments via a chatbot is through Razorpay Payment Links. 

Let’s say that you have built an awesome chatbot for your SaaS-based business. Now a prospective buyer is having a conversation with your business via chatbot and getting answers to some of the questions he has before he makes the payment. After he or she is convinced, you can offer them an option to pay via Razorpay by sending them a payment link. By doing this, you will make sure that the customer stays with you!

It is usually seen that with a plethora of choices, a user is likely to change his decision any minute and hence, it’s important that you convert the user to a customer the minute they are convinced. 

Does this sound like a working thing for your business? Here’s how you can easily create a payment link within minutes and start accepting payment on the go:

1. Sign up on Razorpay

2. Create a payment link by adding relevant details and share the payment link

razorpay payment link3. Your customer can choose to pay via credit/ debit card, netbanking, UPI and wallets

4. You will get notified as soon as the customer makes a payment!

Not just that, with Razorpay Payment Links, you can also send payment reminders, download reports and track payment status. 

Get started now and 10x your conversion rates!

Chatbot statistics at a glance

  • Chatbots can cut operational costs by 30%
  • 85% of customer interaction will be handled by chatbot by 2021
  • 50% of businesses plan to spend more on chatbots than on mobile apps 
  • Chatbots can answer 80% of the basic questions
  • 64% of intent users say 24-hour service is the best feature of chatbots

Let us not forget that these chatbots give companies the ability to provide 24/7 support in a human-like manner, which in the long run brings loyalty and customer satisfaction towards your brand. 

So start building a robust chatbot and do not forget to embed payment links to make the best of real-time conversions! 

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Khushali is a content marketer at Razorpay. A logophile, traveler and inbound marketing enthusiast, she loves questioning the 'why' and 'how' of almost everything.

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