Chatbots Offer Unique Benefits to Brands with Diverse Portfolios
Brands in many industries understand how chatbots can make their customer care more efficient and cost-effective by automating processes previously handled by live agents. The potential advantages from implementing chatbots are particularly high for brands with diversified business interests. Underlying chatbot technology can be tweaked to provide a wide range of customer care services across their portfolio, spreading the benefits of chatbots from one branch of their company to many.
One example of a brand with diversified business interests using chatbots is American Express. Although it is primarily known for its credit cards and other financial services, American Express is also a major player in the travel and hospitality industry. American Express’ Global Business Travel arm had $31.1 billion in sales in 2016, and a large percentage of the brand’s credit card usage comes from business or personal travelers.
In late January, American Express announced that it had completed a deal to purchase Mezi, an AI-based travel assistant that currently powers the AskAmex personal concierge service. AskAmex responds to queries on flight, hotel and restaurant reservations or recommendations and passes along requests to a human agent to complete a reservation or purchase. AskAmex learns about a person’s preferences over time, allowing it to make more intelligent recommendations the more it is used.
With American Express bringing Mezi in-house, the brand can continue to innovate its travel and hospitality offerings but also can use Mezi as a platform for integrating chatbots into other customer care offerings. The same technology that is now used for travel recommendations could be easily modified to help customers perform account management tasks or get help in emergency situations.
According to a Jupiter Research report, chatbots will be responsible for $8 billion in cost savings annually by 2022. This highlights the substantial benefits of chatbots for brands such as American Express that provide customer care across multiple products. Chatbots can also help brands provide better interactions and increase customer satisfaction. Jupiter Research also reported that the average chatbot-assisted inquiry is four minutes faster than one made to a traditional call center.
The use of chatbots on mobile devices gives customers a way to quickly speak with a live agent directly from their device if a customer care situation needs to be elevated. Financial services and travel and hospitality are two market segments where many consumers prefer to interact with brands through mobile devices. By adding Mezi to their internal toolkit, American Express has taken an early step to exceed their customers’ expectations and has proven that it knows the importance of mobile interactions.
Brands that need to offer customer care across diverse business areas should to take an example from American Express and consider the benefits of chatbots as part of their mobile strategy. mGage can help you to do this by identifying areas where innovative technologies such as chatbots or messaging can transform your business. Send mGage an email or text “Hi” to 26161 to speak to one of our experts.