The Power of Chatbots

The Power of Chatbots

Power of chatbots

A chatbot is a digital agent that, in principle, attempts to mimic human conversation. By programming a chatbot, you can intertwine intimate information and domain-specific content related to your company. The result is a more personal experience between your potential customers and your brand. The technologies that are used in developing chatbots are more accessible than ever, and companies around the globe are hoping to incorporate them into their business logic.

In fact, the first chatbot was invented in the 1960’s by Joseph Weizenbaum and was called Eliza. Eliza mimicked human conversion by matching user prompts to scripted responses. Modern examples include Alexa (and Lex) developed by Amazon, Siri by Apple, Google by Google and Cortana by Microsoft – the list goes on.

“Almost 80% of companies are thinking of incorporating chatbots in their customer care strategy by 2020, while 62% will probably achieve this goal by 2018.” (The transformative power of chatbots and AI for customer experience, 2017). This shows that in recent years, they are becoming more and more popular and can be vital for your company. This article will go into further detail about how chatbots can help empower your business.

Improved Customer Service

Customer service is a really important factor to the success of a business. So, whether you are an international or a local business, having a good customer service department has a direct impact on your customer satisfaction levels. Chatbots are designed to work every day of the year (unless they’re down for maintenance reasons). This makes them much more flexible than human customer support – and cheaper.

Reduced Costs

According to Chatbot Magazine, chatbots can save businesses up to 30% on customer services. 265 billion customer support requests are made every year, and it costs business’ $1.3 trillion to service them. Chatbots can reduce these costs significantly.  By transforming old, inefficient technologies to a new state of the art technologies, the possibilities are endless – chatbots are just one part of this spectrum. You will also save money on employee wages and training. Staffing a full-time human support center and training employees will cost a company a lot of resources. Chatbots help with these issues because they allow your staff to get on with more business-critical tasks.

Growth in Messenger Apps

Your customers are spending more time on messenger apps such as Facebook, Snapchat, WhatsApp and many more. By integrating your chatbot with these technologies, you can target more potential customers. These companies are adopting such strategies because chatbots in messaging platforms allow brands to interact personally with their customers and make quicker long-lasting connections. Especially with younger audiences. As these demographics are now more likely to read a message through such messaging apps, when compared to older technologies such as email, targeting this change is a necessity. This is one of the reasons why over 90% of marketers say social media marketing is key to the success of a business, and current research shows chatbots get higher click-through rates and engagements.

Analytics

Chatbots can perform semantic analysis of text and speech by using cutting-edge natural language understanding technologies. They can also gain real-time insights such as customer location, age, gender and more. Then, they can use this information to create a catered, personal experience. By using analytics, this can help your business make decisions based on empirical evidence to help shape your business goals.

Conclusion

In conclusion, chatbots, although not a new concept, are really starting to be adopted by companies to help achieve their business goals. With 62% of businesses hoping to use them this year, they will see the positive effects quicker with insignificant risk. With all these benefits, chatbots have an exciting future ahead.

We Can Help!

Here at SpotOnCreative, we can build advanced automated services such as chatbots – and a multitude of cross-platform apps connected to the cloud – that can place orders and filter customer input for the most crucial information and much, much more.

We are currently testing a new implementation of Amazons Lex on our website. We have only given our chatbot a few questions and answers, so we can monitor how the AI (artificial intelligence) responds and learns under minimal configuration. This is purely for transparent experimentation, however, over time this will be an advanced example of some of the more powerful features chatbots can offer.

If you would like to know more about how SpotOnCreative can help you create an interactive customer service chatbot app for your business on multiple platforms then contact us by phone: 0800 112 3369, email: support@spotoncreative.net or use the contact form on the home page. Our chatbot can also help answer any more questions you may have.