For online businesses, it has become necessary to solve the queries of their customers to ensure consumer loyalty along with their brand establishment. Nearly 80% of businesses use a chatbot in one form or the other. But earlier what used to happen was that a man always sat on the answering machines waiting for the call and solve the queries of their customers. So, it was a cumbersome process. What chatbot has replaced now is a man looking for help from machines to remove the constraints of human limitations.
Since the time is the customer service industry which has been revolutionized, and the innovation responsible for this is the chatbot. Chatbots are considered the future of customer service and management.
Emirates increased their engagement rates by 87% after deploying chatbots.
What Are Chatbots?
Chatbots are those computer programs that can have real conversations with you with the help of chat interface, which allows real-time conversations with users. Chatbots are generally used with all of the popular messaging apps. The fun part is when you have conversations with them, they all seem real. For instance, Mark from XYZ company will help you out with FAQs and will direct you to the real seller and then he’ll call you back. Also, there’s no timing issue; if you open a website at 12 midnight, the bot is still ready to have a chat with you.
Chatbots can understand written and spoken text, and interpret its meaning. The bot can then look up relevant information and deliver it to the user. Most modern smartphone apps rely on chatbots to function. Chatbots have become an important part of business growth and the need for these AI-powered bots is only going to increase in the future.
Technologies Used In Chatbots
The cost and power of a chatbot depend on the technology it uses. There are two categories of chatbots –
1. Command Based Chatbots
As the name says, these types of chatbots rely on a databank of replies and heuristics. The bots reply by selecting an answer that matches the context of a query. Command based chatbots cannot create new texts. These chatbots can answer a set of limited questions so there is a need for manual help at the back-end for atypical questions asked. To answer a question, the chatbot has to understand it first. Command based chatbots use template search or dynamic search for understanding and answering questions.
One main limitation is that the command-based chatbot cannot perform functions outside its code, so what it lacks is the second technology.
2. AI Based/ Machine Learning Chatbots
What the command-based chatbot can’t do, the AI/ ML-based chatbot can do it. It can answer all of the ambiguous questions of the user, meaning; you do not have to be specific when asking questions to these chatbots and no databank of replies. The chatbots create replies from scratch using natural language processing. These chatbots become smarter with time, learning from past questions and answers.
The star point, here could be: Both categories have their advantages and disadvantages. Command based chatbots can give more reliable and grammatically correct answers but fail to respond to questions outside their knowledge base. On the other hand, artificial/ machine learning chatbots need a vast amount of learning data and can struggle to form longer sentences.
If you are still wondering why you should get a chatbot for your business then we are going to give you seven different reasons why your business needs a chatbotright now.
Top 7 Reasons ‘Why Your Business Needs A Chatbot?’
1. You Want Your Business To Be Open
Keeping the business around the clock is difficult, especially for small and medium-sized businesses. This means when a customer reaches out to your business, they won’t get a response from you till business hours resume. What chatbot gives you is its incredible feature of time-boundness. There’s no timing issue; if you open a website at 12 of midnight, the bot is still ready to have a chat with you.
A chatbot can ensure that your business remains open all the time in one form or another. In fact, it can do more than just answer your customer’s questions. It can make reservations, ask about the menu, and give a plethora of different details about your business.
2. You Can Build Trust By Answering Questions
You know the drill when a small business gets on start then there’s not only one single established business. This means that the competition is always fierce and you need all the help you can get to stand out in the crowd.
When a customer has a query regarding your bran then it reaches out to you and then what they expect is an instant reply. This gives them the sense of, that the brand can be trusted and is always going to be with you in hard times. However, providing instant replies to all the questions can be outright impossible, especially for human agents. Chatbots, on the other hand, provide you with the ability to answer queries round the clock.
By adding frequently asked questions to the chatbot, your customers can search for the right answers anytime. This will build trust among your current and potential customers.
3. Scale Your Business
Chatbots are an automated solution that lets you handle your business handle easily with customer’s queries. Earlier what happened was, when the queries needed the real guidance then you have to book a meeting, so handling only a number of customers because a human agent can only attend two or three customers at the same time. This was the biggest limitation which businesses need not brag it until now when chatbots came into power.
However, if you use chatbots in addition to your human agents then your business can easily scale its operations without having to worry about the increasing number of customer chats and calls. Simply put, if you are looking forward to scaling your business then look into chatbots because chatbots helped scale India’s largest sports game by 30 times.
4. Right Products and Services to Customers
There will be times when your customers will need help figuring out the right product or service that fits their budget and requirements. This mostly happens when your customers are looking for something expensive to purchase or when they don’t have enough exposure to a particular product or domain.
Chatbots come in real handy when the customers aren’t sure what they are getting and whether it’s worth spending a big amount. Your Chatbot knows when your customers need help with their purchase decisions. The bots not only give an explanation regarding a particular product but also give recommendations based on prior queries from the user. Thinking practically, one could say that your chatbot loves your customers more than you.
5. Target Millennials
Millennials are not impulsive buyers. They like to inquire and compare products before they buy. They love chat channels more than any other form of customer contact services. So, if your product lines are aimed at Millennials, introducing chatbots in your customer service will be a prudent investment.
According to a survey, millennials prefer solving their issues on their own rather than reaching out to someone or a customer service agent. This exact point is why chatbots are needed and give this service to them can help your brand gain reviews.
6. Better User Interaction
Chatbots are capable of having conversations with customers like a human agent would. A funny instance that happened with me was, that I was reviewing some online coaching class, then a chat box popped up and from there Aksh helped me throughout the process. Here’s the fun part when I said it was nice talking to you and a sweet welcome came from there; then I had to ask if he was real. Oh No! He was a chatbot and I got fooled.
Coming back, they can keep your customers engaged in a specific platform by maintaining a conversation. When a web application is opened, the user is greeted by the chatbot in a non-intrusive manner. The user can then ask the chatbot specific questions regarding a product or a service. Most of the time, the user is provided with answers from the database, but in a structured manner that mimics human interaction. With each question, the bot also provides a list of options making it easy for the user to input the necessary query.
7. More Affordable Than Building an App
Most businesses come up with an app for their products, which customers have to download from play stores. Imagining the whole of this gives me like a lazy look, because whatever it is; it’s a cumbersome process. Looking from business point-of-view, apps are expensive and require a lot of time for development. And also, building an app and expecting them to download an extra app on their device for the query is going to get you only a handful of customers which is bad notice.
Here’s where you can implement chatbots on messengers, which is where most people spend their time. They are a better alternative to having an app. The chatbots are designed in a way that engages the customers who come in and makes them try the company’s products and services.
Things To Keep In Mind While Developing A Chatbot For Your Business
- Keep personalization in mind. Your welcome screen should tell the user about the features of your bot. A user will feel more at home with your service if the bot is using his name for greeting and interaction.
- Take care of the design of your chatbot because the user is going to trust a well-designed chatbot.
- Use proper text-formatting, high-quality links, and high-resolution pictures in your bot replies.
- Ask users for all the information you require, upfront, and take care of the conversation as well. Keep them connected to their mails.
- Linking your chatbot with an NLP library can help in minimizing grammatical errors.
Readymade Chatbot Platforms You Can Use
In today’s competitive industry, customers are always looking for customized solutions. You need to satisfy your customer’s requirements and do it in a way that makes you stand out from the crowd. Chatbot scale up your operations. It does not suffer from the limitations of a human agent. Where live agents can handle only 2 to 3 conversations at a time, chatbots can operate without an upper limit. By employing chatbot solutions to complement your human task force, your business can get the boost it requires entering new markets.
The future will be heavily directed by Artificial Intelligence (AI) technologies which prominently include chatbots. There’s a positive response to many chatbot benefits such as an increase in process efficiencies, decreased workload, and improved customer service, but it’s important that a measured approach is taken to implement these technologies.