The global chatbot market is anticipated to reach $1.23billion by 2025, and 80% of businesses plan to use chatbots by 2020. Chatbots increase user experience and reduce labor inefficiency and cost, and as a result, they are fast replacing the apps. The idea of a chatbot might be both intriguing and intimidating to you. You might wonder how a machine can engage us, human beings, into the conversation! You might even wonder whether science and technology soon replace human beings and make our living hard! But the truth is that technology only makes our life more comfortable and saves our precious time!
Chatbots which maintain a superficial contact between the man and the machine is not exactly new. It has been for quite a while, but the hype has developed in recent years as it is smarter with the help of technology. A chatbot is a programmed messaging app which conducts a conversation via auditory, visual, or textual methods.
What Is a Chatbot?
A chatbot is a program or algorithm that allows you to interact with technologies 24/7 using different input methods such as voice, image, or text. For many years chatbots were used for customer service-related issues. Still, the use of chatbots online got accelerated when, in 2016, Facebook introduced Facebook chatbot, better known as messenger bot, and showed the world what to do with chatbots.
A chatbot can respond to messages containing specific words or phrases. Or it can use artificial intelligence to analyze and understand to engage in a conversation. It is referred to as an AI chatbot or AI bot. Chatbots have varying degrees of knowledge as well as a variety of names such as AI assistants, intelligent virtual assistants, digital assistants.
Important Things You Need to Know About Chatbot
You can build your chatbot using chatbot API, which is an API (Application Programming Interface) that offers features to developers to make chatbots. Some of the best chatbots are featured with facilities like adding content cards and sharing them with the followers automatically. The best chatbot developers provide artificial intelligence technology to script interactive conversations. They also avail easy integrations via plugins. Best chatbot development platforms also have smart AI, machine learning, and analytics integration.
Now that you know what chatbot is, you may want to know how it works. It analyses the user's request to identify the intent and find relevant information; then, it delivers the requested information to satisfy the user. Chatbots are either rule-based/ linguistics based or machine learning-based (AI based). The most advanced chatbots use AI or machine learning to give the feel of a real conversation. A chatbot can handle millions of conversations at the same time, maintaining the standard. The best AI chatbots can handle any scenario of a conversation easily.
These days, the chatbot website is more intelligent and capable of completing different tasks. Many users want to engage in interactive conversation while visiting a website. Many popular sites are planning to use or already use the best chatbot website to make their website more attractive, so you may consider adding chatbot on your website too.
In recent times the hype about chatbots has increased; significantly as it is being used in different ways. Since it increases business efficiency in many ways, people in business are using chatbots to stay competitive. We learn how it is beneficial for online marketing.
How Does It Help Digital Business?
Customers use chatbots because they are fast, convenient, and intelligent enough to satisfy their queries. The best AI chatbots make a significant impact on business by reducing costs and enhancing customers' experience. Best chatbot templates enable people to engage in conversations they love. Many young people, especially the millennials, prefer to seek help online and do their shopping with bots instead of seeking help offline. Below are benefits that show how business can derive value from chatbots:
Reduce Costs: Chatbots reduce costs by providing customers with services to assist them virtually without needing many live agents or employees, which costs much money.
Saves Time: Conversation with chatbots takes less time to answer the queries of a customer, so it is convenient to use chatbots instead of employees and allocate the time and effort to engage in something else. The answer is more accurate and fast too!
More Revenue: Chatbots remember customer preferences and provide help and tips and guide them on a buying journey, driving sales conversation and revenue.
Guide Users to Better Outcome: customers are not always aware of what to look for or where to look. But by asking them a series of questions, you can guide them to where they would like to be or where they might find necessary information.
Availability: The best thing about chatbots is that they provide answers and necessary support at any time. And as they offer support 24/7, customers from any time zone can gain access to the information they need.
Increase Engagement in Unique Ways:Chatbots improve customer satisfaction by engaging the customers more into communication and providing personalized service. Sometimes they use unique methods instead of the traditional to make it more interactive.
What Are the Features and Benefits of Chatbot?
Natural language: Some of the features of chatbot include the ability to understand natural language and interact in a more human-like manner.
Machine learning: Learning dictionary and algorithms.
Prediction: The ability to predict based on the conversation with other customers.
Context and coherence: The ability to keep up with a long conversation without being incoherent.
Enterprise-grade: Provides a reliable infrastructure
Collaborative model training: Provides customized training with machine learning and conversational AI.
Account Manager: Designing, testing, and using conversational AI.
Virtual agent: Intellectual and conversational service experience.
Payment request API: Provides payment, shipping, and contact related details of the user.
Automated sequences: Automated messenger marketing with engaging conversation.
Live chat and broadcast: Enable individual conversation and sending messages to customers.
Application insight: Service level and instrumentation data with reporting.
Audit trail: Tracks and locates received and sent communication.
Advanced Reporting: Easy access to critical data and needed information.
Role-Based Access Control (RBAC): Restricts the access of systems to authorized users.
Trigger support: Send messages to redirect users to a relevant website.
Today we expect immediate and accurate answers, which are only possible with the help of technology. So, today's marketing and sales team continually try to improve the customer experience to boost sales. Below are some benefits of using chatbots as a platform:
The information can be accessed quickly and easily.
Using chatbots as a medium to engage with customers enhances the work quality and ensures success.
Improved communication with transparency empowers the workflow and strengthens the organization.
The increased revenue boosts sales. By using chatbots, you increase customer satisfaction, which is very important as the majority of the customers need help while purchasing.
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