There are four reasons why businesses are turning to voicebots to improve their customer service. CX
Chatbot vs. Voicebot
There have always been debates and arguments about which of the two is the better option. Voice and chatbot preferences are mainly business and geo-specific. Although chat is convenient for emerging markets, users in North America and Europe continue to prefer voice as their primary communication method. Is there, however, a true winner?
More than 80% of companies today have automated their customer service communications in some way, according to estimates. Chatbots have played a significant role in this, and with the advancement of advanced speech recognition technology, voicebots are quickly gaining popularity as the preferred customer self–service tool.
What are voicebots, exactly?
A voicebot is a virtual conversational agent that allows customers to communicate with them solely via voice.
Customers’ queries are ingested, analyzed, interpreted, and responded to in natural language by voicebots, with the aim of addressing the customer’s question in real-time with meaningful verbal interaction. If the voicebot is unable to address a customer’s query, the call is transferred to a human agent who can provide additional assistance.
Voicebots, unlike chatbots, require additional speech recognition and synthesis capabilities. voicebots must be able to comprehend customer requests and assess the intent of the demand. This crucial aspect has a direct effect on how accurate a voicebot’s answer is. Voicebots do this by synthesising a voice request, converting it to text for processing, and then returning an accurate vocal response—all in seconds.
In order to provide more relevant and customised responses, voicebots must be able to access caller or user data, which includes the caller’s age, gender, purchase history, and so on.
What’s the main distinction between voicebots and chatbots?
Today, an increasing number of businesses are turning to chatbots to provide better customer support. They use chatbots or voicebots to mimic real-life human communication in order to streamline the customer experience and reduce contact density. According to a juniper research report, chatbots are projected to save more than $8 billion per year in the banking and healthcare sectors alone by 2022.
Chatbots’ the success is clearly a foreshadowing of voicebots’ imminent pervasiveness in the customer service experience. Although both chatbots and voicebots have the same goal in mind – to involve consumers in dynamic, highly customised interactions – the most significant difference is voicebots’ inherent accessibility: a request can be made entirely hands-free, without the need to manually enter text. And, given how popular voice search has become, it won’t be long before voice-based customer service via voicebots becomes commonplace.
Why are voicebots gaining popularity among brands?
The change from text to voice
The evolving user demands are credited as the primary driver of the change to voice ui. Millennials, in particular, have a greater understanding of voice technology and a higher degree of confidence with it. The widespread use of artificial intelligence in our daily lives is also contributing to the transition toward speech. Voice assistants are becoming more valuable in the daily lives of connected users as the number of IoT devices such as smart appliances and speakers grows.
The rapid advancement of speech and voice recognition technology has piqued the interest of many major corporations, including Google, Apple, Microsoft, Amazon, and others.
The voice assistant industry, according to the tech giants, will be powered by the widespread adoption of connected devices, which is expected to reach $20 billion in the next five years.
Many brands and businesses are eager to communicate with customers—and also allow them to make purchases—via voice-enabled technologies because of the convenience of using simple voice commands to get answers or details. Voicebots will also have a significant effect on the overall customer experience in the future, as shown by the increasing popularity of voice search and how users find and act on information.
The impact of voicebots on the customer service experience
Customer satisfaction is a constant struggle for all companies. offering customer service solutions that meet the needs of today’s consumers – pace and autonomy – is the best way to do so. Users are not required to wait in line to talk with a customer service representative or to call only during business hours at the call center. The instantaneous bot–driven interactions enhance the overall customer service experience significantly.
voicebots undeniably provide a pace and immediacy advantage, allowing users to stop typing their questions or queries.
We type 53.5 words per minute on average, but we can talk about 161 words per minute—more than three times our typing speed!
As a result, voicebots deliver on their promise of real-time customer service experiences with minimal to no downtime.
When it comes to autonomy, voicebots are essentially self–service tools for customers. They cut down on the number of emails, chats, and phone calls to customer service agents. It also assists consumers with special needs, such as those who have trouble reading small type font on a tablet, in locating the details they need in the simplest manner possible.
Voicebots are ideal customer service tools for multi-tasking. customers may communicate with customer service when driving or cooking, since the instructions are voice-based only.
customer relationships that are tailored to the individual
Voice-based consumer experiences open up new possibilities for improving personalization. Voicebots, for example, may decide the gender of a caller using voice recognition. Voicebots can easily verify a customer and provide personalised responses based on details such as the customer’s experience with the brand.
Given the conversational nature of the technology, voicebots add a user-friendly dimension to the overall customer service experience. After all, as opposed to premeditated text-based interactions, we are more spontaneous in verbal interactions.
This will result in a more optimistic customer service relationship, even though it is solely through the use of technology.
Since voicebots are driven by artificial intelligence (AI) and machine learning, even if they don’t react well to a customer’s needs, they learn from the interaction and use that knowledge to contextualise potential responses. In other words, they are still learning and looking for new ways to have better experiences.
Customer support interaction rates are lower.
This is perhaps the most significant advantage voicebots provide to brands and businesses: they help brands and businesses maximise resources and minimise overall customer service contact rates by automating basic customer experiences that do not require human intervention. digital collection agents driven by AI, for example, will alert customers of payment due dates and past due amounts.
Artificial intelligence (AI) is transforming the customer service experience at a breakneck pace. Voicebots are well on their way to being the new norm of customer service, building on the momentum provided by chatbots. Are you willing to incorporate the winner’s strategy into your customer service efforts?
Agara’s AI-powered voice bot offers self–service phone support and allows companies and customers to connect without friction. Like a highly qualified human agent, the automated voice bots converse and have end-to-end resolution of customer queries. Here’s where you can learn more about AI-powered, self-driving voice bots.