Why so many companies are NOW adopting 'Chat-First' strategy for Customer Service?

What is Chat-First strategy?

Using Automated Live Chat as the primary mode of communication to service customers or employees, 24/7 by addressing their requests, from simple inquires to complex tasks.

Human agents are involved rarely and only for exceptions.

Automated Live Chat typically starts with 'Text' and as needed, can be extended to 'Voice'.

Why Live Chat you may ask?

Well, 2022 Statistics on Live Chat are staggering. I will share a few here:

• 97% of customers say customer service is important in their choice of a brand.
• 75% of customers prefer Live Chat over any other channel.
• Customer satisfaction with Live Chat is 85%.
• Primary reasons more customers prefer Live Chat is no wait time and convenience.
• ‘Chatters’ spend on average 60% more per transaction than ‘non-chatters’.
• Live Chat is at least 5X less expensive than voice.
• Using Live Chat, companies have realized more than 9X ROI in terms of cost reduction, increase customer retention, sales and lifetime value, yet less than 9% of all companies used Live Chat in 2022.

Why NOW?

Three factors are driving the need and continue the mass adoption of 'Chat-First' strategy for the foreseeable future:

1. Customers are tightening their budgets in 2023. Here's how the COO of a Global HCM (Human Capital Management) put it last week during the course of our discussion on this subject:

"We plan to invest ONLY in technologies that would help us SAVE costs by optimizing our operations NOW, quickly, economically and permanently in a manner that is responsive to future changes. "

He said that every technology investment big or small needs to be aligned with their new mantra below - in general this seems to be the market sentiment in 2023.

Optimize, Catalyze and Thrive

Key Question by Senior Executives:

How can your technology help us SAVE money by driving efficiencies in the short-term while positioning us for greater success in the long-term? - Automated Live Chat Technology fits the bill here.

2. The second driver is that Call Centers are experiencing the Trifecta of Pain with rising call volumes, customer expectations, cost and attrition rate of human agents. It is becoming increasingly harder and expensive to manage Call Centers in the post-pandemic era.

Key Question by Senior Executives:

Is there a way to significantly reduce our dependency on human agents thereby eliminating fully burdened costs such as Salary, Benefits, Utilities, Facilities, Tools, Software, Hardware, Travel, Management, Hiring, Training, Retention Programs and more. - Automated Live Chat Technology fits the bill here.

3. The last driver combines the success of Live Chat with the advancement and the maturity of the technology that is driving mass adoption of Automated Live Chat Technology

One of the Automated Live Chat technology that captured the hearts and minds of many people in the last few weeks is #ChatGPT.

And now senior executives everywhere are asking the same question:

How can we use #ChatGPT type technology in our business?

Can we use it for Customer Service?

Can we use it for Employee Service?

What does it take to have #ChatGPT type technology focused on our business? - that can answer questions and get the job done as requested by customers, where the response by this technology is:

• Accurate
• Consistent
• Explainable

Moreover this technology would be

• Deeply integrated into enterprise business systems
• Hosted behind enterprise firewall
• Delivers Hyper-Personalized Conversational Experiences @Scale

Imagine over 90% of customer requests getting fully addressed without intervention by any human agent, 24/7. It is happening right now.

This technology continues to deliver 20X to 50X improvements for enterprises.

This is exactly the reason why we've created Aigo.ai - The Company with a Direct Path to AGI for the enterprise customers.

Aigo is both industry agnostic and domain agnostic.

Here is a quote from the CIO of 1-800-FLOWERS.COM, INC. , one of the largest publicly traded Gifting Companies in the world, whose name is their phone number yet they chose the 'Chat-First' strategy.

Innovative Leader, CIO Arnold Leap is redefining 'Conversational Commerce' using Aigo.ai - The Company with a Direct Path to AGI , you can listen to the full episode here.

Are you ready for your 'Chat-First' strategy? Would love to hear it.

Experience Aigo today!

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