Taking Shots at Chatbots
In the current times, we are witnessing a trend shift in how consumers are interacting with businesses globally. Instant messaging apps such as Facebook Messenger, WhatsApp, and others have taken over traditional ways of conversations. In customer support, telephone is gradually losing its importance as the preferred channel of communication. New age channels such as mobile apps, social media and web chats are increasingly gaining momentum. This trend, coupled with developments within artificial intelligence (AI), has resulted in companies increasingly experimenting and harnessing the power of Chatbots. This shift points to a major disruption in the global market for Chatbots which is currently estimated at over US$1 billion.The Basics
Chatbots are automated dialog systems which trigger dialog with customers within a messaging app or intelligent personal assistants (IPA) that use voice recognition with an aim to drive engagement and generate sales. They are smart, automated conversational identities that make tapping on drop-down menu buttons, opting for search functions and navigating through pages on websites redundant. They provide instant, specific results in a smooth-flowing conversational format. A Chatbot is capable of having natural conversations with human beings. It aims to accomplish particular tasks such as attending to user queries, presenting the intended content and supporting online purchases. These bots are powered by a set of simple rules with varying levels of AI.
The Rise of Chatbots
Intelligent bots built for achieving a special purpose are growing rapidly and are driving a shift in user interactions with businesses. Here are some key takeaways:
• The number of Chatbots available on Facebook Messenger trebled within six months. 11,000 in June 2016 to 34000 in November 2016
• More Chatbots are in development for messaging apps than forvirtual assistants
• Consumers prefer messenger over intelligent virtualassistants when it comes to Chatbots
• One in ten have already used Chatbots in e-Commerce, a thirdis open to trying bots
• Companies that use Chatbots are seen as less human by majority, yet a third wants recommendations and advice by Chatbots; a third – offers & coupons
• Messaging apps now have the largest numbers of active users, having overtaken social media apps in 2015. For example, Facebook Messenger has a one billion strong user base, while Telegram’s is already over 100 million.
Excited? Look before you take the leap.
Points to Keep in Mind before Getting Started with Chatbots: Recent Facebook IQ research states that the convenience of Chatbots brings customers closer. Also, messaging brings personalization in commerce. While, Chatbot services have enormous potential, one should also be aware that any new technology brings along its own implementation challenges.
Cut the clutter and stand out of competition: Recent Facebook IQ research states that the convenience of Chatbots brings customers closer. Also, messaging brings personalization in commerce. While, Chatbot services have the rise, to differentiate them from the competition, businesses need to ensure what value addition they are proposing with Chatbots.
The power lies with customers: It is critical to ensure that interactions with Chatbots are kept simple and tasks are completed seamlessly. If Chatbots are not able to comprehend even the easy questions, customers are more likely to turn away; when such scenario of bots not understanding the user arises, fallback procedures of quickly and smoothly shifting the users to human interaction is essential.
Its UX instead of UI: User experiences will be vital for Chatbot interactions. Ensure efficient, short and painless interactions as possible compared to clicking or tapping through a menu on a website or app to get to the needed information.
Relevance: If Chatbots fail to provide relevant conversations to users, their usefulness will diminish. Customers will simply stop engaging with Chatbots and worse; it will create a negative impact on brand value.
How can you benefit?
The power of Chatbots isn’t limited and is all set to elevate customer experience to new levels thus impacting companies across all industries. By 2020, ‘conversion platform’ will change how we engage on the web.
Companies today are using Chatbots for both - engaging customers by prompting purchases and other calls to actions as well as bringing operational efficiencies by augmenting human capabilities.
Faster customer support: Providing quality and faster customer support has always been a priority for companies. Again keeping the mounting costs of support manpower in control is a challenge. Chatbots promise way faster customer support compared to wait times with other channels of integration and that too with a fraction of a cost.
Sales and marketing: Chatbots bring newer ways to reach out, delight and engage prospects and potential consumers. The bots are capable of sending targeted email campaigns as well as connecting to CRM tools to bring personal engagement and prompt users to make a purchase.
Automating business operations: Bots can be programmed to carry out multiple follow-on-tasks triggered by a primary task. If an employee emails or enters timelines for tasks pertaining to a project into the project management tool, the bot can make auto entries in the calendar and send follow up emails to stakeholders involved for completing the tasks.
The Future & Beyond
The future as we see it is ABC – AI, BI and Chatbots Remember, Chatbots are still in their embryonic stage. In the coming years, we will witness newer capabilities of Chatbots and subsequent opportunities. Also integration with other components in IoT and BI will emerge. More intelligent Chatbots using AI and machine learning will be developed that can learn about users based on past interactions and existing data of that user within the systems. For example: To a returning user on the website, Chatbot will learn and say – ‘Welcome back’. Chatbot integrated to CRM will check if the user is a prospect that interacted in the past regarding a service OR whether the user is already an existing client and initiate a relevant conversation accordingly.
Cut the clutter and stand out of competition: Recent Facebook IQ research states that the convenience of Chatbots brings customers closer. Also, messaging brings personalization in commerce. While, Chatbot services have the rise, to differentiate them from the competition, businesses need to ensure what value addition they are proposing with Chatbots.
The power lies with customers: It is critical to ensure that interactions with Chatbots are kept simple and tasks are completed seamlessly. If Chatbots are not able to comprehend even the easy questions, customers are more likely to turn away; when such scenario of bots not understanding the user arises, fallback procedures of quickly and smoothly shifting the users to human interaction is essential.
Its UX instead of UI: User experiences will be vital for Chatbot interactions. Ensure efficient, short and painless interactions as possible compared to clicking or tapping through a menu on a website or app to get to the needed information.
Privacy and Security: Especially when your customers are making a purchase online, user privacy and security should be the prima facie factor in consideration.A Chatbot is capable of having natural conversations with human beings. It aims to accomplish particular tasks such as attending to user queries, presenting the intended content and supporting online purchases
Relevance: If Chatbots fail to provide relevant conversations to users, their usefulness will diminish. Customers will simply stop engaging with Chatbots and worse; it will create a negative impact on brand value.
How can you benefit?
The power of Chatbots isn’t limited and is all set to elevate customer experience to new levels thus impacting companies across all industries. By 2020, ‘conversion platform’ will change how we engage on the web.
Companies today are using Chatbots for both - engaging customers by prompting purchases and other calls to actions as well as bringing operational efficiencies by augmenting human capabilities.
Faster customer support: Providing quality and faster customer support has always been a priority for companies. Again keeping the mounting costs of support manpower in control is a challenge. Chatbots promise way faster customer support compared to wait times with other channels of integration and that too with a fraction of a cost.
Sales and marketing: Chatbots bring newer ways to reach out, delight and engage prospects and potential consumers. The bots are capable of sending targeted email campaigns as well as connecting to CRM tools to bring personal engagement and prompt users to make a purchase.
Automating business operations: Bots can be programmed to carry out multiple follow-on-tasks triggered by a primary task. If an employee emails or enters timelines for tasks pertaining to a project into the project management tool, the bot can make auto entries in the calendar and send follow up emails to stakeholders involved for completing the tasks.
The Future & Beyond
The future as we see it is ABC – AI, BI and Chatbots Remember, Chatbots are still in their embryonic stage. In the coming years, we will witness newer capabilities of Chatbots and subsequent opportunities. Also integration with other components in IoT and BI will emerge. More intelligent Chatbots using AI and machine learning will be developed that can learn about users based on past interactions and existing data of that user within the systems. For example: To a returning user on the website, Chatbot will learn and say – ‘Welcome back’. Chatbot integrated to CRM will check if the user is a prospect that interacted in the past regarding a service OR whether the user is already an existing client and initiate a relevant conversation accordingly.
