What are chatbots?
Software applications that use artificial intelligence and natural language processing to acknowledge the wants of a human and guide them to their desired outcome with as little work for the end user as possible; this process is known as Chatbot.
Chatbots can be programmed to utilize machine learning to adapt their comebacks to fit the situation and also to respond disparately towards the messages carrying certain keywords. Responses run the gamut.
Chatbots come in all forms. There are some goofy and fun chatbots like Cleverbot. Cleverbot is used to chat with individuals while learning as it goes.
Other than that, there are also business bots used for the purpose of satisfying customers. Facebook recently released a host of data providing the value of bots for business:
- 56% of people would prefer messaging the customer service instead of calling.
- 53% more presumably choose to shop with a business they can message.
- Around 2 billion messages are sent between companies and people monthly.
The use of chatbots has no doubt gained momentum over the last few years, while they aren’t a new business tool. According to data from Google Trends, search volume around “chatbots” evolved 19x as individuals in the last five years. However, many businesses began to realize their value.
The ultimate guide to chatbots
A well built and well-designed chatbot will:
- Utilize existing conversation data to acknowledge the type of questions people ask.
- Analyze accurate responses to those questions through a ‘training period.
- Utilize NLP and machine learning to learn context while continually improving at responding to those questions in the upcoming years.
Natural Language Processing (NLP) is a component of artificial intelligence that enables computers to understand, interpret and manipulate natural language as humans do.
There are various ways you can build a chatbot, which is one of the most interesting parts of the software. However, there are three types of chatbots you can mostly see today:
- AI Chatbots – These Chatbots automatically learn after an initial period of training by a bot developer.
- Live Chat – It is a much simpler chat option to answer questions in real-time. Customer Support organizations can also use these bots. However, they are mainly utilized by Sales and Sales Development teams.
- Rules-Based Chatbots – These chatbots have pre-designed rules, which are sometimes built using a graphical user interface.
Pros Of Chatbots
Its pros are not limited to their 24/7 availability. Today’s sales and marketing teams are under a lot of pressure to deliver outcomes and constantly ameliorate customer experience and customer service. Of course, it’s a big task.
Moreover, we expect immediate answers with 100 percent accuracy. This can only be done with human beings up to a certain tipping point. Technology has to be the answer to today’s ever-increasing expectations of the customers.
Get the full picture and decide for yourself whether a bot is a worthwhile investment for your company:
- They can increase your sales: A chatbot will help you get the correct information and offers to your potential customers at the right time. This would significantly increase your chances of closing a sale.
- They give your company a face: Chatbot is the first touchpoint with your business for many users. It helps your company by giving it a face that can be more personal than a conversation by phone or mail.
- Increase your website conversion rate: Chatbots assist you in increasing your website conversion rate as today; marketers put a lot of work in to drive traffic to their website.
Cons Of Chatbots
- Cannot handle angry customers: Due to incompetence and lack of empathy, the company could lose customers and revenue.
- Cannot always provide correct solutions: Chatbots essentially are machines, so they will definitely make mistakes while sometimes giving wrong answers to the customers.
- Not suitable for all businesses and applications: Chatbots cannot handle each business. For example, fire brigades, hospitals, and the police require an immediate response. Chatbots might not provide any sustainable benefit in such cases.