Chatbots: The Next Big Thing You Ought to Know
Author: BUKA CHINA SKYLINE TELECOM CLOUD SMS PLATFORM Release time:
What Is Chatbots?
The meaning of chatbots in Wikipedia is "a chatbot or chatterbot is a software application used to conduct an online chat conversation via text or text-to-speech, in lieu of providing direct contact with a live human agent. Designed to convincingly simulate the way a human would behave as a conversational partner, chatbot systems typically require continuous tuning and testing, and many in production remain unable to adequately converse, while none of them can pass the standard Turing test. The term 'ChatterBot' was originally coined by Michael Mauldin (creator of the first Verbot) in 1994 to describe these conversational programs."
The working process of chatbots is like this:
The Advantages of Chatbots
1. Non-sleep
Compared to human agents, chatbots will never need to sleep or rest. They can work non-stop, all day and night. It is a feature favored by company managers. If chatbots are well trained, they can perform the duties of human agents.
2. Cost-effective
It is another feature of chatbots. Usually, if an enterprise purchases a chatbot, it is a one-time investment, with fewer maintaining fees regularly. A chatbot can serve multiple customers simultaneously with no upper limit in the customer number. That is to say, the more customers an enterprise has, the more cost-effective for them to use a chatbot.
3. Real-time engaging
Anywhere and anytime with any customer amounts, chatbots can reply to customers' inquiries in real-time. This feature can provide good customer service experiences, improve customer engagement, therefore, increasing the sales rate.
4. Improve in all sorts of metrics
As human agents, they might have different blind spots that may not improve in a short time. For chatbots, however, they can learn and improve in all sorts of metrics. For example, they may improve customer engagement and serve customers anytime to increase the click-through rate. They can learn good examples to study what kind of answers satisfy customers the most or make them happy. This is the customer-sentiment metric.
Use Cases of Chatbots
1. Provide support
Chatbots can provide almost any kind of support, from technical to logistics, from order information to after-sales support.
2. Product recommendations (Domino's pizza order)
Once a customer is interested in the products or ready to make a purchase, chatbots will showcase the products to help the customer make the orders.
3. Conversational marketing campaigns
Conversational marketing is a marketing approach of customer-centric and dialogue-driven. It can improve customer engagement, optimize customer experience, and increase revenue.
What Does Data Say
Research from NICE inContact indicated that from 46% of B2C enterprises using conversational-AI technology for customer service in 2019, the rate has gone up to 67% in 2020.
Another report from Linchpin shows that 47% of organizations plan to implement chatbots for customer support services in the short future.
The growth of the chatbot market is predicted from $3.3bn US dollars in 2020 to $8.7bn by early 2026.
The above numbers state that chatbots as an AI-based technology are valued more by enterprises. With the mature of this technology, chatbots will become a powerful customer service tool that drives revenues. For enterprises who are still not familiar with this technology, it is time to hurry up, because you may not be able to deploy enough human resources to compete with AI chatbots used by your competitors.
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