A chatbot is a conversational software that has become commonplace, whether you open a website or call customer service. It is a bot that chats like humans, i.e., it mimics human capacity to comprehend languages with increasing accuracy as they evolve. Chatbots can understand and interpret both written and spoken text. It is a software that typically carries out automated tasks or performs a workflow. Chatbots’ role to completely replace human intervention is arguable. However, their increasing popularity makes it pertinent to understand their position in today’s business world.
What makes Chatbots so widespread is the way they seamlessly integrate with existing systems. Bots are finding their uses in broader platforms and are expected to make interactions with software easier. Chatbots are used in messaging applications, websites, mobile apps, and through the telephone. The majority of the existing solutions can be added to the bot framework without hassle.
There are mainly two categories of chatbots. Command based chatbots can answer a fairly reasonable number of typical questions. However, for any nonconforming requests, human intervention is required. Command based chatbots use template search or dynamic search to understand questions. Their ability is conditional on the scope of the programming. On the other hand, AI-based chatbots learn continuously, depending on the inputs they receive. Once a thing in movies, we have Artificial Intelligence in chatbots, where humans and machines interact through natural languages. Machine learning enables these bots to learn from human conversations and use that information to provide better responses in the future. AI chatbots use artificial intelligence to establish the users’ intent and return a predetermined response that may include text, pictures, external links, videos, or product recommendations. These chatbots can be used in various contexts, from sentiment analysis to determining the likelihood of the purpose of visits on a website.
Chatbots have led to enhanced customer service. Without waiting for the call center agent’s response, a chatbot can handle various queries around the clock. Instead of long lists of FAQs, customers find it convenient that chatbots return answers to specific FAQs. Chatbots also make online shopping an exceptional experience. Chatbots remember the preferences and use the information for subsequent visits. Personalized communication with chatbots stimulates the customer’s desire to purchase. The speed of processing customers’ requests helps gain their satisfaction and loyalty.
One of the primary uses of chatbots in a business is that of lead generation. Using a conversational approach to marketing, organizations engage lead generation bots to identify potential customers, generate their interest, and foster rapport with the prospects. According to a survey cited in Chatbots Magazine, 67% of the respondents expressed a higher likelihood of purchasing products and services from businesses using a chatbot. Lead generation bots ensure that a visitor is attended 24/7 and receives a timely response. Furthermore, visitors are more comfortable talking to chatbots in this scenario to avoid potential hard-selling exposure. Therefore, lead generation chatbots are the perfect way to automate sales and lead generation processes by turning prospects into leads across client websites and platforms on social media.
Besides, businesses use chatbots to get rid of routine tasks and instantaneously process multiple requests. While many customer queries remain unanswered, or at best get a late response due to bogged down agents, chatbots respond to 100% of messages irrespective of the time of a day or a week. There is substantial evidence based on the trend in sales statistics suggesting that the businesses that use conversational software will be at an advantage over those that don’t.
A combination of chatbots and live chat offers entirety to a communication process in various scenarios. Chatbots help users with search, leaving contact information, or suggesting products and services. However, live chat is preferred when an existing customer wants to register a complaint, or a potential customer needs to derive a price based on certain exemptions. To avoid undue back and forth of messaging, live agents may resolve the issue and improve customer experience. Furthermore, it is cost-effective to live chat with a customer compared to phone support. Live chat agents can share information on various media and multitask that isn’t possible over the phone. Nevertheless, implementing live chat to substitute phone support can improve operational efficiency and overcome chatbots’ limitations when human intervention is essential.