4 Things You Need To Know About Chatbots
The underlying technology of a chatbot determines how responsive and intelligent it can be. Here are four things you need to know about chatbots.
Chatbots have become popular in the business space today. They can serve as 24/7 support, answer customer queries, suggest help articles, and route users to human agents. A live chat provides access to real-time support.
With chatbot software, businesses won’t have to struggle with common and repetitively asked questions. They can automate the process by allowing chatbots to handle those predictable queries. Let’s learn more about chatbots below.
What is a chatbot?
A chatbot is a software program that can learn and mimic human conversations using artificial intelligence (AI) and machine learning. It can be used to automate sales, customer service, marketing, helpdesk, and other business tasks.
You can use a chatbot to simulate conversations with customers on websites, messaging apps, mobile apps, and other possible channels. It’s a great first-response tool for every business and can provide personalized experiences to users.
Things you need to know about chatbots;
An online chatbot system can operate using predefined conversation flows or can leverage AI and machine learning. The underlying technology of a chatbot determines how responsive and intelligent it can be. Here are four things you need to know about chatbots:
- Not all chatbots are created equal.
There are two different types of chatbots. First, we have a rule-based or simple chatbot. They use predetermined options to reply to customer queries. You can find rule-based chatbots on those e-commerce sites that assist customers in choosing items or making purchases.
Next, AI-powered chatbots are smart programs designed to understand intent, context, and language. They can also learn and improve with every interaction with users. Some examples include virtual assistant bots, customer service bots, AI companion apps, etc.
- Chatbots are everywhere.
Every industry and business sector is adopting live chat and other online chatbot technology. According to Juniper Research, the adoption of chatbots in the retail, banking, and healthcare sectors is predicted to reduce business costs in these sectors by up to $11 billion in 2023.
AI chatbots are helping to free up time spent on customer inquiries. The number of interactions and responses on various channels is being reduced. Companies across all sectors are expected to save over 2.5 billion hours in 2023.
- Chatbots aren’t perfect.
There are some disadvantages or challenges to using chatbots in business. For example, a simple or rule-based chatbot only offers limited assistance. Some may not understand queries and can end up frustrating the customer.
A good way to fix common issues with chatbots is to improve the chatbot’s AI or machine learning technology. You should also provide customers with the option of being transferred to a human customer service agent.
- Customers have fallen in love with chatbots.
Many customers now prefer to communicate with customer service through live chat. Most websites that offer live chat support are likely to be revisited and also receive more purchases. This shows the power of real-time chat support.
Businesses that leverage AI chatbots will enjoy customer service efficiency as well as higher conversion rates and customer loyalty. Live chat as a customer service channel can help to drive the highest customer satisfaction rates.
How to find the right chatbot software for your business
AI chatbot software helps to engage customers often and provide better customer service. The chatbot providers available in the market can help to develop, customize and integrate smart chatbots into your existing business workflow. Here are the features of a good chatbot platform:
- Omni-channel support
Every business needs chatbots across every possible channel such as messaging apps, website live chat, social media chatbots, etc. You need chatbot software that allows you to seamlessly integrate AI chatbots across a variety of customer interaction channels.
- Customer-service oriented
Businesses need to integrate chatbots so they can improve sales, marketing, and customer service. It’s best to choose a chatbot software that can offer useful support features such as quick responses, help article suggestions, and in-chat forms. It should also transfer customers to live agents when necessary and route tickets to appropriate support representatives.
- Human-Like Approach
Many customers complain that chatbots tend to sound “cold and robotic”. To avoid this issue, you should choose an AI-powered chatbot platform. This helps to ensure smart responses and good conversation flows. A human-like approach such as understanding natural language, intent, and context is also important.
- Analytics and Reporting
The right chatbot software for your business should provide analytical features. This allows you to measure the chatbot’s performance. It helps you review conversations with customers so you can determine how effective your bot is.
Some useful metrics for chatbots include average session duration, the total number of conversations, the number of returning users, human takeover rate, missed messages, etc.
There are applications to help streamline and automate several business tasks. You need an AI chatbot platform that allows you to integrate with helpdesk ticketing systems or customer relationship management (CRM) software. This helps to track customer interactions quickly.
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