As a social creature, we tend to follow a trend which influences our behavior and process of thinking! And one of the ongoing trends in tech-industry is definitely — Chatbots
What exactly is Chatbot?
A simple basic bot is nothing more than a computer program that automates certain tasks. A more advanced side of bots is supported by artificial intelligence and NLP to handle more complex requests, to provide customized responses and to improve interactions over time. A simple bot follows a set of instructions programmed by us via a bot-building platform.
Why chatbots are in great demand?
Chatbots definitely modernize a business’s customer services. Chatbot applications streamline people-to-service interactions, improving the customer experience. They also offer fresh possibilities for businesses to enhance the process of customer engagement and operational efficiency by decreasing the typical price of customer service. As the best type of online communication between brands and customers, chatbots are becoming increasingly popular. According to Gartner, up from less than 2 percent in 2017, 25 percent of customer service and support activities will incorporate virtual client assistant (VCA) or chatbot technology across channels by 2020.
What are the benefits of chatbots to businesses?
In many elements of customer experience, chatbots can be helpful, including offering customer service, presenting product suggestions and engaging clients through targeted marketing campaigns. If a customer has an issue with a product, he/she can connect with a chatbot to explain the situation and the chatbot can input that information to provide a solution to resolve the issue. Chatbots are easy to use and they are preferred by many customers to call a representative on the phone because they tend to be faster and less invasive. They can be set up very easily.
One chatbot is equivalent to so many apps!
Some of the benefits are as below:
- Easily Approachable — The major issue with the current customer service industry is to provide services as quick as possible and thanks to chatbots the wait time is over now! Chatbots are available whenever you need them. These virtual robots can never get tired and continue to help customers all day 24*7.
- The Contentment of Customer’s experience — Customers want smooth interactions and all transactions as simple as possible, especially when they want some information about product or service. Chatbots attempt to match customer expectations by providing simple workflows.
- Capacity Management — Chatbots can handle multiple customers simultaneously by having a conversation with thousands of customers at a time. This type of management is necessary for a big scaled consumer-facing service industry.
- Cost-Effective — As chatbots can interact readily at the same moment with thousands of clients. We would need only a handful of individuals to sometimes jump into conversations if needed. It would therefore drastically reduce costs and lead to an increase in business revenue and customer satisfaction.
Chatbots have a wide array of applications and many more than just those mentioned above and it can be explored further as per the business’ requirements.
Despite a plethora of benefits, there exists some resistance in embracing chatbots as the future of business. In some scenarios, customers do have some different expectations from bot which the bot is not able to achieve and in the end, customers get frustrated! Chatbot’s inability to understand due to fixed workflows can lead to customer dissatisfaction. They are also considered to be Time-consuming in terms of processing the queries and giving the response which can sometimes test the patience of customers. The Zero decision-making power of bot leaves many doors open to question its ability.
Though this technology is still in its infancy, creating a chatbot with so many platforms out there has become very easy. With technology moving faster than ever, it’s safe to say that chatbot revolution is coming and they are laying the foundation for improved customer experiences and have the power to replace search windows and many apps in the not-so-distant future!
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