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3 Affordable AI Technologies for Business Growth

AI technologies have enabled virtual machines to automatically learn by picking up data patterns and using these to generate recommendations or address business concerns. These capabilities have made AI an essential investment for businesses looking to increase their productivity, efficiency, and profit.

If you’re a small/medium business owner or your company is not ready for a major technology investment, you can still benefit from AI solutions using various budget-friendly solutions.

1) ManyChat for Facebook Messenger Chatbots

If you’re looking to enhance the client experience with self-service support, and pivot your customer service team toward solving more complex issues, consider deploying pre-built or custom chatbots.

If you want to tap Facebook Messenger for marketing, ManyChat’s free plan allows you to have unlimited subscribers and broadcasts. Meanwhile, their Pro account, which costs $10 per month, enables you to collect subscriber data, link your chatbot to Facebook ads, and include buy buttons. You can even integrate your ManyChat bot with your other business tools, such as your CRM, email marketing, LMS, e-Shop store, and payment systems.

Massive Growth AI based Chatbot Market Benefits

The AI based Chatbot market size is expected to grow from USD 2.6 billion in 2019 to USD 9.4 billion by 2024, at a Compound Annual Growth Rate (CAGR) of +29% during the forecast period. 

4 Simple Strategic Ways to Use Chatbots in Your Business

There are 4 simple ways that ChatBots can help your business growth:

  • Make Your Sales Pipeline (e.g. Run retargeting ads to people who bounced off your website without buying anything, and present them with some type of special promo). As key use cases here we can have:
    1. Run retargeting ads to people who bounced off your website without buying anything, and present them with some type of special promo
    2. Set up a chatbot so that any time someone comments on one of your Facebook posts, they receive an automated message
    3. Run Facebook Lead Ads for things like free downloadables. Then, push these new leads directly into your Facebook chatbot for more information, which can be delivered automatically
  • Up-the-Ante on Your Marketing Strategy (over 50% of customers are more likely to buy something from a business they can message). An average email marketing campaign has an open rate of roughly 24%, with a click-through rate of just a little over 4% and a conversion rate of 1-2%. In some instances, live chat has improved conversions by up to 20-30%.
  • Provide Better Customer Support (with a chatbot you can have a customer service agent on standby, 24/7!)  
    A chatbot can analyze what someone has written, and then respond accordingly. This can massively improve customer satisfaction, as well as amplify your brand loyalty.
  • Run Surveys and Collect Insights (with a bot you can collect some quick information from people to help gauge their sentiment about your brand).
    Do you want a clear insight to test market viability for a new product or service that you’re going to be offering? Create your own survey chatbot that people can take at their convenience on Facebook Messenger.