Chatbot Development Is Amplifying The Business Growth Stories
Posted By Priyansha Sinha | 30-Oct-2018
In recent years, there has been an unusual surge in the implementation of chatbots and the tech communities are immensely awestruck with the wonderful results it has brought in their businesses. Thanks to the efforts shown by the bigger brands such as Microsoft's controversial ‘Teen Girl’, Twitter bot ‘Tay’, and the most successful one to date- Facebook’s integrated chatbot capabilities in Messenger. There are no second thoughts to the fact that the companies are finally starting to reap the benefits of chatbot development and their success & growth stories are amplifying rigorously.
There has been a lot of anticipations going around artificial intelligence & chatbots and their progressive integration has turned many technological heads. It is until now that we have finally started to get clarity on the value that the superlative bots can bring into our lives. As per the survey carried out by Oracle, 80% of the businesses require chatbot by the end of the year 2020 and they all have the same goal- enhancing their customer experience. All in all, Chatbot development is steadily winning the businesses and is going to be one of the most sought-after technologies in the not-so-distant future. In this post, I will discuss the success stories of the companies and the supported reasons behind it.
But first things first.
What Are Chatbots Exactly?
Essentially devised with the capabilities of emulating human conversations through written text, Chatbots are computer programmes that are currently replacing a major portion of tedious human jobs. Their design specifically includes artificial intelligence along with a set of rules that identifies texts from users.
They can be phenomenally used to know about your flight status, the weather conditions; for buying shoes, ordering pizzas, and so much more- the list can go on forever.
How Can Businesses Benefit From Chatbot Development?
Although chatbots can be progressively deployed across industries and businesses, their applications are still limitless. Well, the bottom line is- if you truly want to grow your brand today, having a strong online presence is very crucial. And in order to build that, using the right medium should be the key. Here are a few benefits how chatbot development can be really beneficial for the businesses.
- Chatbots can be used to instantly address your users’ queries.
- Chatbots deployed over messaging apps have been playing on their popularity and is allowing more users to engage with their services.
- They are widely accessible and are available 24x7, thereby reducing a lot of human efforts.
- They scale with your business operations and facilitates a smooth track for its growth.
- They greatly help in improving your customer’s experience.
- Businesses can reduce their boring and repetitive work through chatbot development.
- Chatbots can reduce development cost and cut huge expenses associated with hiring more employees.
- Businesses can successfully act as a tool for precise Market Research.
How Are Chatbots Increasing Business Sales?
Let us take a marvelous example of Facebook Messenger. If your brand is highly active on Facebook, you can save a lot of time and effort in the process of lead generation, and the answer is simple- Chatbot Development.
Messenger discovery can indubitably be a powerful way to gain more exposure for your business. Further to this, Facebook has been recommending bots as questions in actual conversations. For an instance, if you ask your friend to watch a movie, Facebook displays the Fandango Bot!
As per the studies, if a customer buys any of your product or avails your services, there are 33% chances that they will buy again from you.
The only catch here is- an enhanced customer experience. All-time availability of chatbots is what lurking the customers towards a brand and a happy-selling experience finally results in the increased chances of products’ sale in the future. Chatbots ultimately make the upselling right and offers a great opportunity to boost sales.
Predictive Analytics & Personalization
Chatbots are a great way to categorize & segment your viewers and put your respective personas towards them along with a tailored experience.
A stupendous example of this is Amazon’s “customer who bought this item also bought” and “frequently bought together" prompts. Basically, a lot of consumers come through product recommendations based on such algorithms.
Well, all these instances clearly signify how chatbots can elevate business revenues and profits. If you also want to implement them for your company, let us know. We offer avant-garde Chatbot development services that will carve a new niche for your industry.