Today, we will go through the significant information about the chatbot, how to use it and how can it benefit individual and businesses. So, lets dive in…
Technology becomes advanced and rapid advancement in technology makes businesses hard to operate and adopt the new changes in this fast-paced environment to stay future ready in the market. On the other hand, it will create many opportunities to leverage from the advancement of technology. A significant market trend shows that chatbot is going to change the future of how people interact with customer support in chat and the way it changes it impact marketing in a big way is another add to conversational marketing approach.
What is Chatbot
Chatbots are software built on artificial intelligence (AI) programs that help to automate the interactions with customers based on a set of predefined conditions, triggers, and/or events. The service could be any number of things, ranging from functional to fun, and it could live in any major chat product (Facebook Messenger, Slack, Telegram, Text Messages, etc.). It is also frequently used for automate the customer service, social networking hubs and instant messaging (IM) such features. A chatbot is an efficient tool for marketing, sales and customer services.
Reggie Bradford, the late VP of Oracle delivered a keynote in Prague in 2016. In that keynote, he predicted that the biggest technological innovations in the next few years would be messaging apps and chatbots.
In Bradford’s words, “This wave is about to hit you hard. It’ll knock you back into the sand and force water up to your nose. But, if you’re ready, this could be an incredible opportunity.”
Why Using Messenger Chatbot
Some stats on messenger marketing:
- Facebook Messenger currently has more than 1.3 billion monthly active users.
- 300K daily active messenger bots.
- 80% open rate of bots as compare to email marketing open rate (i.e. 5.9% – 18.8%).
- CTR of messenger chatbot is 30% as compare to emails CTR (i.e. 0.4% – 2.1%).
- 21% of consumers would buy items from chatbots.
- Chatbots can respond to customers immediately.
- Chatbots can help you collect important data and also learn from the data collected.
- A survey conducted by Kayoko found that while consumers love real-time support, they hate the typical live chat experience.
- Starting a live chat conversation, 40% of consumers are not confident, they’ll get the support they need in a reasonable amount of time.
- 79% of businesses say offering live chat has had a positive effect on sales, revenue, and customer loyalty.
- 38% of the consumers are more likely to buy from a company if they offer live chat support.
- Chatbots are seeing the fastest rate of new technology adoption today, with 27% of SMBs reporting they use chatbots in their business. – A Spiceworks survey.
- Chatbot marketing estimates increase as a result (according to your KPI) range from 400% to 18,000%, depending on the functionality and placement of the chatbot.
For e.g. – if your customer service chatbots save you 20 hours a week of customer service tasks (at the rate of $15/hour), that’s a cost-savings of $15,600 for a year. If you spent $500 on that chatbot, then your ROI would be 3,020%.
What Can a Chatbot Do
Leverage from the chatbot technology in following ways:
Customer service chatbots – Customer support chatbots can serve a variety of purposes — FAQs, store hours, and directions, services, etc. Many times, these chatbots look to act a lot like a phone menu, except they’re way more interesting. Think gifs and stuff.
Website chatbot – One of the best uses of chatbots is providing user support and steering prospects toward what they’re looking for while potential customers are on your website. A simple plugin plus a chatbot makes it happen.
Scheduling or registration chatbot – Want to take the busywork and hassle out of setting appointments for your beauty shop, coaching sessions, or dentist office? A chatbot can handle all of this, saving your office team time to work on more strategic initiatives and saving your business cost of staffing for this administrative task.
Transactions chatbots – Chatbots can support e-commerce transactions, including providing discounts and coupons, receipts, shipment, tracking information, etc.
Lead generation – Lead generation chatbots are marketing-focused chatbots that usually involve prospecting and lead capture plus lead nurturing tactics like drip campaigns.
Why brands choose to outsource the chatbot marketing to freelancer or agency
- Chatbot agencies or freelancers often price their chatbots based on the number of certain things like landing pages or campaigns.
- You may find that agencies will customize these prices, or they may have different pricing tiers that address the specific needs you may want.
- Keep in mind, agencies do most of the work, but they will require your time. Your time is another “cost” that you’ll need to factor in as you consider chatbot pricing.
- Anyone who has knowledge of computer and a tech-savvy can learn how to create chatbots. But keep in mind, you cost money, too. So make sure you’re considering the cost of your time as you learn and create chatbots.
- Your payout will probably be slightly higher than if you were to develop it in house. However, keep in mind that if you do create the chatbot in house, you’re going to either suspend your team’s current revenue-generating activities and/or pay for the hours that they are spending to develop the chatbot.
What we have learned that chatbot marketing is one of the basic and usual tools to have in the future to not getting out of the business and a key to staying in the business in the automation era. A chatbot is making trends and people around the world acknowledging the power and efficiency of chatbot marketing. It makes work easy, less need for human power that cut down the direct expense and it will available to you at an affordable cost. In the end, I would recommend that you should acknowledge the power of chatbot as the market and competitors out there acknowledged the same and making their business grow and succeed.
If it’s something that you don’t find intuitive and overwhelm by, you can hire someone to do the hard part for you. And the good news is, I can help you with making your chatbot for your business. Click here