Chatbots lower the barriers to talking about finances as they remove the awkwardness factor.
Customers respond better to digital conversational messaging than to either telephone calls or emails.
Users love the convenience of conversational AI guided self-service for straightforward tasks.
Conversational AI uses automated, intelligent chatbots to have two-way dialogues with customers using human-like language. They use Natural Language Processing to understand the intent of what someone is saying - beyond mere keywords and logic rules - and then they respond accordingly.
AI chatbots can also pick out entities, like dates, and can tap into real-time data using API integration. And to make the conversations ever more meaningful, the bots are continually growing using Machine Learning. See more on How Conversational AI Works.
To get the most out of conversational AI technology, you should focus on its strengths, namely, understanding human language and reading between the lines.
A propensity engine is taught using vast data sets to spot patterns and pick up sentiment within a context, so it can recognise what a person is really saying. The AI can also predict the outcome of a conversation and then route is down the best path.
For a more in-depth look at the Benefits of Conversational AI, download this guide.
What you say, when you say it and your choice of language is critical to having a positive response from a customer.
Rather than using command based texts, like “Click to pay”, use natural sounding language that communicates respect and empathy, for example, “Hi John, I see you missed your last payment. Why is that and is there something I can help you with?”
Conversational customer engagement is a skill that is well-worth mastering.
Taking a blended approach with AI automation and live agents allows you to have fewer calls but more conversations, which means your agents use their time more effectively on more complex cases. The AI chatbots can take care of over 70% of all customer conversations and can do so at scale without losing the personal touch.
When using conversational AI in debt collection, the metrics all go in the right directions: response rates go up, operational costs go down, agent handling times go down and collections go up.
A customer’s experience when interacting with you will determine whether they do business with you again, so help them by making it easy for them. Such things as using their preferred digital massaging channel, being guided along the process or handed to an agent if needs be, all add up to a positive response.
Also, customers don’t like being controlled so give them options to resolving any issues. In the end, using conversational AI for customer engagement makes a huge difference to the impression you leave and how well the customer journey ends.
If you need to improve your customer engagement, talk to us and we'll show you how AI automation via digital messaging apps works. You will love the Webio experience. We promise.Talk to us about Conversational AI