Bots for business are huge. According to Facebook, businesses exchange one billion messages through Messenger every month — and the trend is growing. Chatbots make communication simpler and faster, benefiting businesses in many ways. If one thing is clear, it’s that AI is the future and enterprises need to embrace it to build better business relations and compete in today’s market.
What Exactly Is a Chatbot?
A chatbot is a computer program designed for conversational interactions. Users can ask them a series of questions and the bot will answer because they have the ability to understand and interpret conversations. What’s more, they can learn from customer responses and find solutions to new problems.
Chatbot design is becoming increasingly sophisticated and can carry out multiple functions like automating business tasks.
Why Are Chatbots a Popular Choice for Businesses?
Chatbots help business owners manage their time more effectively because a number of assignments can be delegated to these clever computer programs.
Having your own chatbot design is a lot like having your very own highly intelligent personal assistant. If you want to reschedule, edit, and cancel both events and meetings, your chatbot will do it for you. It will notify you when you have personal and private appointments, and it will also send and receive emails on your behalf.
What’s more, a chatbot can automate business processes across multiple departments. It can, for instance, alert team members when a task has been completed, and it can be programmed to answer frequently asked questions from both employees and customers. The possibilities are becoming limitless.
Chatbots Improve Contact and Qualification Rates
According to Inside Sales and Harvard Business Review contacts made from first-time dials can be compromised when there is a time delay. They found that it is best to respond within the first five minutes. When the contact is kept waiting 10 minutes or more, the chances of getting the effective contact drops dramatically. However, chatbots can improve this because they can offer the contact an immediate response, which is likely to improve contact rates.
Chatbots Collect and Interpret Data
Chatbots are able to find out what your customers really think about your company by gathering data from all the conversations they have.
This information is invaluable because it not only enables you to improve your sales and marketing strategies but also to forge long-lasting relationships with customers.
The Chatbot Revolution
It wasn’t so long ago when AI enthusiasts would daydream about the future capabilities of robots and now, in 2018, it’s possible to not only converse with robots but to give them the same kind of tasks that are given to employees to complete. There is no doubt that these bots are going to change the way we do business forever.
A 2017 Global Humans Trend Capital Report found that as many as 41 percent of company chief executives had already implemented a chatbot because they wanted to be prepared for the shift to AI technology. A further 34 percent of respondents had launched pilot prototypes.
The American research and advisory firm Gartner stated that, by 2020, chatbots will be involved in 85 percent of all types of business to customer interactions. This is hardly surprising when you think about it. Who wouldn’t want to embrace a technological advancement that makes doing business easier and more cost-effective? Business decision makers are all too aware of the technological advances happening right now. That’s why keeping a finger on this pulse is paramount to a company’s longevity.