HOW CHATBOTS ARE HELPING BUSINESSES GROW

Customer service is one of the most important aspect of any business. And like anything in the 21st century, technology has helped it evolve. I’m talking about chatbots here. What is a chatbot? Well by definition a chatbot is “a computer program designed to simulate conversation with human users, especially over the Internet”.

Recently chatbots are becoming more and more common. Chatbots can do jobs ranging from answering simple customer quarries to booking you a cab. Chatbots are most commonly used in the retail, food and banking industries. A survey conducted by Capgemini Report in 2018 showed that about 35% of global users have already purchased food and clothing items using voice assistants. And these numbers are only increasing.

So here are a few reasons to implement chatbots in your online business RIGHT NOW! Let’s have a look.

 Things that you need to know…

Before we go any deeper into this, let me explain what a chatbot actually is and what it does. As explained earlier it is a computer program that simulates human interaction. These chatbots have a messenger like interfaces that help the interaction feel very organic. A lot of the modern apps rely on these chatbots. They can analyze your question or request, using natural language processing technology. And provide you with a suitable answer. They can even be assigned different personalities.

1)Provide 24/7 customer service

Any business owner will agree that there are some questions that almost all of their customers will have. And it’s very repetitive and frustrating to answer them every single time. With more and more businesses going online this problem can be solved very easily using chatbots. These bots can be programmed to answer specific questions very accurately. And as we are going to discuss later implementing these bots is really not that expensive.

2)INCREASED PROFITS

These chatbots can drive huge amounts of traffic to your website. Catering to the needs of all sorts of people. They can help customers make an educated choice by communicating with them at a personal level. And using the latest natural language process technologies they can breakdown those linguistics barriers. As an example, in the first few months of 2017, a floral company called 1-800-Flowers used a chatbot named GWYN. As a result, they showed a total revenue increase by 6.3% to about $165.8 million.

3)REDUCED HUMAN EFFORTS

Using chatbots we are essentially reducing human efforts. Human work time that can be used for something more important than answering repetitive questions. By doing this we can not only reduce costs but also make a much more efficient system. Also, this removes the potential of any human error. Don’t get me wrong, these chatbots do sometimes make mistakes. But, as technology evolves the margin for these mistakes are gonna get smaller and smaller.

4)CHEAP AND EASY TO BUILD

As mentioned earlier chatbots are really cheap. You would spend more money on building a good high-quality app than on build a chatbot of similar quality. And being like webpage extensions, the user does not have to download anything. As mentioned earlier they provide a messenger like an interface. So the user feels very familiar with the environment. Lastly, they are fairly easy to create compared to a mobile app.

Here are a few popular chatbot building platforms,

1. Motion.ai
2. Converse.ai
3. QnA Maker
4. Octane AI
5. IBM Watson
6. Botsify
7. Chatfuel
8. Pandorabots
9. Microsoft Bot Framework 
10. Wit.ai
11. Semantic Machines

5)EXTEND YOUR REACH

With a plethora of online platforms like Facebook, Instagram and many more you can easily extend your reach to millions. You can run your chatbots on any these platforms. Where humans can handle maybe one or two customers at a time, these chatbots can potentially handle an innumerable number of customers at a time. And they are super easy to share. Unlike an app, that you need to download in order to share, chatbot can be shared just like a message.

CONCLUSION

In the end, I would just like to say that, chatbots are the future of customer service. Like any piece of technology, they are going to get even better with time. Chatbots can provide an extremely personalized user experience. As the user can ask them any number of questions. Any time they want. This ensures customer loyalty. It is THE TIME to get on this chatbot bandwagon before it’s too late.

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