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A few reasons why chatbots are the future of marketing

A few reasons why chatbots are the future of marketing

March 12, 2020

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Introduction

There is no reason to make it more complicated than it is. A chatbot is just a computer program that automates certain tasks, typically by chatting with a user through a conversational interface.

High-end chatbots are run on artificial intelligence which helps them to understand complex requests, personalize responses, and improve interactions over time. Technology is still in new, so the biggest percentage of bots follow a set of rules programmed by a human via a bot-building platform. It is a basic ordering of responses to make a dialogue flow.

Just like using if and else statements in programming, often without needing to know a line of code. Of course, they are some agencies which are specialized in bots powered by artificial intelligence, and those agencies follow the newest research on neural network models and natural langue processing. If you want that kind of bot for your consumers, you will have to set aside quite a bit more money, but end result can be more then worth it.

Why are chatbots a powerful marketing tool?

They accomplish their task in the place where you already spend your time, messaging apps. Whether it is WhatsApp, Facebook Messenger, Viber or WeChat, bots integrate with these apps and are available for you, eagerly waiting for you to message them.

If you were making plans with a friend, for instance, you could invite a bot into the thread to place a takeout order or call a Uber, without need to leave the messaging app to open a browser tab or another app. In other words, bots solve the thing we hated about apps. You don’t have to download something that you know you will not use ever again.

People usually stick to just five apps, and they’re increasingly being claimed by messaging apps. At this time, messaging apps have over 5 billion monthly active users, and people are using them more than social networks.

Use of AI customer service

Chatbots, messaging, virtual assistants and other new technologies are already helping transform call centres all around the world.

AI chatbot trends aim at saving costs significantly when businesses upgrade from not so good IVR technology to AI. Chatbots Magazine says businesses can reduce customer service costs by up to 30% by implementing a conversational chatbot.

Bots without human involvement can handle simple requests such as scheduling an appointment, requesting a balance, changing a password. More sophisticated bots can do a lot more than that.

Some common chatbot use cases

  • 68% of consumers have said that messaging is the most convenient way to stay connected with businesses.
  • Cost-saving
    The QATC report has shown contact centre attrition rates are twice the average of all other industries combined (30% – 45% compared to the U.S. average of 15%). Bots can greatly reduce the number of human agents required and improve on employee attrition ratio, which is due to the repetitive nature of routine calls.
  • 24×7 support
    Employing staff 24×7 in your customer service can be costly. Adding data and information to support multiple lines of business and languages jumps the headcount to handle customer queries around the clock. The concept of conversational commerce is more preferred as it encourages buyers to shop online with chatbots. Messaging platforms integrated with bots help businesses to revive their approach from improving branding to deliver the best customer service. With time more brands will adopt messaging platforms to boost customer engagement and strengthen customer loyalty as these platforms will have strong bot capabilities and an integrated approach with various business functions.

Using chatbot businesses can boost

  • Marketing engagement
    Customers have in favour of business offering bot support. 52% of users are open to purchasing items through a bot. The chatbot stats show that most of the buyers trust chatbot as the best way to interact with businesses.
  • Brand awareness
    Strategists in marketing advocate the use of bots as it enhances brand awareness and customer retention. One of the most impressive facts behind the growing of chatbots is giving quick answers to customer queries.
  • Customer support
    Chatbots can engage customers with the act of answering their simple queries in the odd hours. As AI improves, bots can get smarter to tailor their responses to the individual.
  • Sales and lead generation
    Chatbots can be the best channel to automate your sales and lead generation process by qualifying your prospects into leads across your website and social channels.
  • Marketing engagement
    Customers have in favour business offering bot support. 52% of users are open to purchasing items through a bot. The chatbot stats show that most of the buyers trust chatbot as the best way to interact with businesses.
  • Brand awareness
    Strategists in marketing advocate the use of bots as it enhances brand awareness and customer retention. One of the most impressive facts behind the growing of chatbots is giving quick answers to customer queries.
  • Customer support
    Chatbots can engage customers with the act of answering their simple queries in the odd hours. As AI improves, bots can get smarter to tailor their responses to the individual.

Conclusion

According to the newest report, the worldwide chatbot market is expected to exceed $1.34 billion valuations by 2024. With time technology will be improved and that will result with: improved communication and greater reliability of enterprises, chatbots will allow businesses to achieve an ideal human and machine employment ratio that complements each other’s efforts while achieving companies’ goals.

Customer service is one such segment that has already shown clear signs of growth post chatbot integration. The future promises much more prosperity. Chatbots have moved forward from being a fun tool for the retail industry to a real solution that guarantees stronger customer relationships.

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