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Why chatbots are the future of market research

Why chatbots are the future of market research

May 3, 2020

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Introduction

As technology continues to change every day, businesses are looking to renew technologies every day which will help them promote their products and services which demonstrates the fact they must adopt in order to compare with other companies. With everyday progression in the digital revolution, we are closer to the world where marketing opportunities are endless. Chatbots provide endless intelligent conversational experiences for buyers and benefits for companies helping them conduct market research. Can you even count the possibilities of chatbots? If not here are few just to remind you of some most known.

Why chatbots are the future of market research

Brands are using chatbots for almost every possible task in customer service, doing proper chatbot market research, increase sales, generating leads and much more. The results that bots are providing are quite fruitful and it’s safe to say that bots are here to stay. Various marketing and financial specialists have faith in the potential of chatbots and conversational marketing. With technological advancement fueling industry growth, bot technology has come a long way indeed. From a basic menu/button-based chatbot to logical AI chatbots and natural language processing, the pallet of possibilities is becoming endless! It’s even fair to say that options available in this moment are a luxury.

A chatbot is one of the most promising and technologically advanced ways of communication between humans and machines. A chatbot gives fast response depending on user input. The process seems simple but in real life, things get quite complex to assemble. If a chatbot is unable to precisely comprehend the user’s request, you won’t be able to provide a correct answer. Chatbots can be programmed in a few different ways in order to comply with its purpose. Also, the reasons for interacting with a bot can vary productivity, entertainment, social factors or even just curiosity.

Endless possibilities

AI chatbots are in different industries like telecommunication, training, travel, food, banks, hotel chains, insurance agencies. Even governments are utilizing chatbots. In order to handle straightforward customer interactions, the chatbot helps the to put the presser off their employees so the chatbot handles simpler requests.

Communication has changed and people are tired of sending emails and waiting for a response, that era is over. Everything is changed, let’s take Google for instance. Would you use it as the platform if it needs more time to respond to your request if Bing can handle it much faster? The same is happening in the field of communication because people need answers at an exact moment, fast. That’s why chatbots are becoming popular among the customer and trusted by large companies.

Many times chatbots are in a messaging application. People trust many smart assistants within operations systems, like Siri for Apple, Google Assistant in Android devices Cortana for Windows and even Amazon Alexa that comes separately. They are able to perform a great variety of functionalities based on user’s commands. Almost every business, being big or small have the opportunity to hop on this train and incorporate these interactive agents into their daily functions, operations, communications with the customers.

Improve existing customer service

This is the finest solution for those businesses that don’t want their customers to keep waiting on the agent’s response. Hearing „Please stay on the line, your call is important to us“ for over and over is very frustrating. An even worse scenario in which customer has to dig in the frequently asked questions (FAQ). Users hate doing the endless scrolling through dozens of pages with the instructions which may or may not resolve the problem they are having.

Receive responses faster

In the case where the company sends out a survey, they want to start analyzing the results right away. Using emails, the least wait time is around a week. With messaging apps, the responses are coming right away. As a matter of fact, the average response time is around 90 seconds. With the help of chatbot, we are able to watch the data in real-time. In conclusion,there’s no need to wait for respondents to finish the survey or worry about losing the data if he/she drops off before the end.

Improve the shopping process

In addition to one of the best chatbot possibilities is to memorize your preferences and uses that information later when the interaction is again initiated. Dominos chatbot is the greatest example of that ability because it’s able to memorize the preferences regarding the food and your address.

Improve the response rate

Approximately 90% of queries sent from social media like Facebook and Instagram are unanswered. Same with the email. The chatbot responds to each one of those messages and it’s able to convert those inbox visitors into buyers.

Personalized communication

Customer is happy to see a chatbot knows his or her name, they feel more comfortable to keep the conversation alive. More the attention on the customer gets it’s more likely is to make a purchase.

Automate repetitive tasks

Most messages businesses get are related to simple and in most cases similar questions like „When do you work?“,“What’s your location“ etc. In order not to waste time providing the answers on such simple questions and repeat the same routine every time, build a chatbot.

Conclusion

Chatbots can come in handy in most cases and can be used in many industries the best example, market research is shown here. With chatbots, it is possible to tailor your survey questions depending on the respondent’s answer to previous questions, and even provide encouraging messages to ensure respondents to complete the survey. It’s up to you to know the right way to set chatbot to fit your needs.

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