Calculating the Value: Measuring ROI from Conversational AI Chatbot Investments
Conversational AI chatbots have evolved quite a bit since their days as bulky FAQ engines. Today, they perform lead qualification, customer support, booking appointments, order tracking, and upselling, all without breaking a sweat . But the real question every company wants to know the answer to: Is it worth it? Spoiler alert: it is. And when powered by platforms like Sinch, the best conversational marketing software, chatbots can generate significant returns just as much as they save time and resources. The challenge is knowing how (and where) to measure t hat ROI. Where the Value Hides Let's analyze the math. The ROI from an Ai conversational chatbot typically falls into four categories: Cost Savings: Automating repetitive inquiries decreases an agent's workload, significantly decreasing support costs. Speed to Resolution: Speed = happy customers = client retention. Lead Conversion: Intelligent bots qualify and engage new leads i...