According to research, global executives accounting to almost 85% believe that with the help of AI, their productivity will enhance to a great extent. It will also aid their company in gaining an edge in the fierce competition out there. In the B2C space, many applications are readily deploying chatbots. In addition to that, the organizational scenarios of B2E and B2B marketing are also witnessing a tremendous boost.
AI has a plethora of applications that can help make the world a better place. But the one application that is gaining immense popularity day by day is the use of chatbots. According to some studies, it is clear that-
- By 2020, 80% of companies desire chatbots for their organizational upliftment.
- Between 2017 to 2021, the market for chatbots is estimated to make an increment of CAGR of 37.11.
Benefits of Implementation of Chatbots For Business:
1. Bots act as effective tools in maintaining brand consistency.
2. Bots provide customer services throughout the day without any break.
3. They reduce manual labor and save time by accomplishing mundane work.
4. The response provided by bots is instant and they reduce the waiting time to a great extent.
Significance of Chatbot Personalization
Since the onset of discussions regarding the importance of AI, most of the businesses, by now should have realized how important chatbot personalization is for the progress of their organization. With a plethora of basic generic information out there, the internet is filled with stagnancy. Users now wish to see only what sparks their interest in the first look. They like to see stuff that has been tailor-made to suit their personal requirements.
Unfortunately, there are many marketers who are aware of the benefits of providing personalized services but they don’t implement those methodologies in their strategies.
“Econsultancy states that about 74% marketer know the advantages of personalization but only a fraction of them (19%) implement this method in their marketing campaigns.”
The most important aspect of a business nowadays is utilizing tools that can collect user data and provide the required personalization that users want without breaking the budget. It might sound a bit unrealistic, but it’s not as difficult to implement as most business owners perceive it to be. Chatbots are interesting weapons that attract the attention of customers, thanks to automation and Artificial Intelligence (AI).
Botforces, that is, a group of chatbots that are interactive is ever ready to cater to different customer needs at any stage of the entire sales process. The best feature about chatbots is that they can spark the interest of new users, recommend stuff for reading to visitors who have been checking out the content repeatedly, and when a deal is almost final, they can take the conversation to the next level by discussing the pricing information.
How Chatbot Personalization Works
There are main factors on which the loyalty of customers is dependant on. Thus, companies have to make sure that they are readily available to cater to all the requirements of their customers at every step of making sales. Tracking the buying habits of their customers is one of the many methods applied by successful businesses.
In order to improvise on their customer experience, 51% of the businesses depend on 8 channels minimum to facilitate a smooth communication with the users. In 2018, most of the companies are expected to be done with the solidification of the omnichannel programs and lay the groundwork to make sure that the consistency of the messaging is well maintained across all the major platforms.
The customer interaction and its cross-referencing across all the platforms help the companies in gaining a better insight into the purchasing behavior, feedback, and complaints. They can then work on them and improve their services.
According to Aberdeen’s study, this area is estimated to witness the maximum progress in the year 2018. In the present day scenario, 52% of the companies utilize their analytics to check whether their messaging systems, chatbots, and websites are serving the needs of the customers properly. The percentage is expected to soar by 32% by the end of the year.
Live chats, chatbots, and many other services are being benefited by the use of keywords that are optimized with the help of text analytics. It provides an indication of whether the customers are satisfied with the services and pinpoint any improvisations that can help the business progress. This aids companies in adapting to customer behavior and analyze to refine their services in the best possible way.
How Chatbot Personalization Can Revolutionize User Experience
You have more chances of increasing your revenues when your users feel special and valued. Be it a chatbot conversation, e-mail or a website, you can make the users feel that they are understood and that their opinion is valued by personalizing your services. But one of the issues with most chatbots is that they lack a personal appeal. Not many chatbots can accomplish more than using the customer’s name in the conversation. Of course, that is not enough.
Understanding Personalization With The Help of a Real-life Scenario
Consider a real-life situation. Suppose you walk into a store and the shopkeeper asks you relevant questions to improve his services. The next time you visit the store, the shopkeeper is most likely to provide you with a personalized experience that caters to your specific needs. Since there was an effective two-way conversation, the personalization began.
This is exactly what efficient chatbots accomplish for a business. Social media, e-mails and landing pages offer a one-way communication that can never be as effective as a personalized two-way conversation between a customer and a chatbot.
Wrapping It Up
If you are on the lookout for creating a personalized experience for your users, chatbots are one of the best ways to accomplish that. Although make sure that the personalization is genuine as false hopes for users can only demolish your business reputation. Thai aim of the chatbot should be to ease out the customer’s life. All you need to do is train your bot to ask relevant questions. This level of personalization is sure to increase your conversion rates and make your business reach the pinnacle of success.
Anirban Guha is a seasoned Inbound Marketing & Communications professional currently working with Kore.ai, a enterprise-grade chatbot platform. He is a keen observer of latest technology trends and loves to write about them. You can follow him on Twitter and LinkedIn.