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How Chatbots are Successful for Business Perspective?

Published on 17 March 17
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Most internet users are familiar with catboats which they either considered as a mild annoyance or a convenient way to get the services they need. The most basic definition of a chatbot is that it is a program that mimics natural conversation with people in audio or text form. But simply put, chatbot is those windows you see at the corner of a web page offering users with guidance. This type of technology was considered unnecessary gimmicks just a couple of years back, but new businesses are seriously considering this kind of technology. If you also happen to be a business owner, then including chatbot into your business strategy will give you a significant advantage. Don’t believe us? Then, keep reading to see why this is so.

Why are businesses using chatbot?

According to a recent survey by Oracle, 80% of all businesses said that they already used or are planning to use a chatbot by 2020. There are many reasons why companies would want their customers to start talking to bots. The most important reason behind the recent chatbot craze is that chatbot have gone a long way in the past several year's thanks to advancements in artificial intelligence (AI) technologies. Unlike rule-based chatbot that can only respond to specific commands, today’s chatbot function through machine-learning made possible thanks to AI technology. These kinds of chatbot can learn, adapt, and respond to natural language by using natural-like language. This advancement in chatbot also means that businesses see them as a way of cutting on labor costs.

The market is changing

Another reason why serious companies are implementing chatbot into their services is that current research shows that people are now using messaging apps more than they are social media. BI Intelligence just recently reported this finding in their report titled The Messaging App Report: How instant messaging can monetize. Since every business owner wants to reach more customers, naturally they will go where the potential customers are, and this is away from social media and towards instant messaging. However, it will probably take time for the majority of online service users to adjust to chatbot as a regular servicing feature. E-Marketer just recently reported that 50% of UK users stated that they would use a chatbot to obtain an emergency answer.

The convenience of chatbots

But other than being cost-effective and currently trending, chatbot are also more convenient than apps. Businesses are considering chatbot as most of the today’s customers seek service through mobile and chatbot are especially suited for this type of communication. With the help of chatbot, businesses, both small and large can now sell their products or service, make secure transfers, collect customer insight, and increase customer engagement with the help of chatbot.

A couple of success stories

But all this excitement over chatbot wouldn’t make any sense if there weren’t any success stories out there regarding chatbot. A free chatbot services dubbed as first robot lawyer and called Do Not Pay helped overturn 160.000 parking tickets in London and New York just last year. Another success story is the fast-food company Domino which collaborated with Microsoft in creating their new app called Dom available on Facebook. This app allows their customers to make orders by sending the word PIZZA to Dom through messenger. The investment in this app was worth it as 80% of all UK Domino orders are now made online.

How are chatbots made?

If you’re considering making your chatbot for your business, you can rest assured that it’s easier than you think. You don’t have to be an artificial intelligence expert to create a chatbot that will make for a great user experience. Start off by choosing a platform where your chatbot will come alive. Popular choices are Facebook, Skype, and Twitter. Secondly, just contact a service like wit.ai, Chat fuel, Dexter, or converse.ai, and they will do all the hard work for you. The time, investment, and effort into building a chatbot will prove to be worth it in the long run, especially if you need to reach a greater number of new customers.

Conclusion

Just a couple of years back, if you’d mention using chatbot for your business, chances are you’d witness a lot of eye rolling. However, things are quite different today with almost every online business using chatbot to stay ahead. The main reasons for this change are that more customers are now using messaging apps to get their services, because chatbot cut down on labor costs, and because chatbot is better than they once were. And as it turns out, making your chatbot is also pretty easy. You don’t need to have much knowledge of AI to create a chatbot, but you do need to know who your potential customers are and how your chatbot will help said, customers.
Most internet users are familiar with catboats which they either considered as a mild annoyance or a convenient way to get the services they need. The most basic definition of a chatbot is that it is a program that mimics natural conversation with people in audio or text form. But simply put, chatbot is those windows you see at the corner of a web page offering users with guidance. This type of technology was considered unnecessary gimmicks just a couple of years back, but new businesses are seriously considering this kind of technology. If you also happen to be a business owner, then including chatbot into your business strategy will give you a significant advantage. Don’t believe us? Then, keep reading to see why this is so.

Why are businesses using chatbot?

According to a recent survey by Oracle, 80% of all businesses said that they already used or are planning to use a chatbot by 2020. There are many reasons why companies would want their customers to start talking to bots. The most important reason behind the recent chatbot craze is that chatbot have gone a long way in the past several year's thanks to advancements in artificial intelligence (AI) technologies. Unlike rule-based chatbot that can only respond to specific commands, today’s chatbot function through machine-learning made possible thanks to AI technology. These kinds of chatbot can learn, adapt, and respond to natural language by using natural-like language. This advancement in chatbot also means that businesses see them as a way of cutting on labor costs.

The market is changing

Another reason why serious companies are implementing chatbot into their services is that current research shows that people are now using messaging apps more than they are social media. BI Intelligence just recently reported this finding in their report titled The Messaging App Report: How instant messaging can monetize. Since every business owner wants to reach more customers, naturally they will go where the potential customers are, and this is away from social media and towards instant messaging. However, it will probably take time for the majority of online service users to adjust to chatbot as a regular servicing feature. E-Marketer just recently reported that 50% of UK users stated that they would use a chatbot to obtain an emergency answer.

The convenience of chatbots

But other than being cost-effective and currently trending, chatbot are also more convenient than apps. Businesses are considering chatbot as most of the today’s customers seek service through mobile and chatbot are especially suited for this type of communication. With the help of chatbot, businesses, both small and large can now sell their products or service, make secure transfers, collect customer insight, and increase customer engagement with the help of chatbot.

A couple of success stories

But all this excitement over chatbot wouldn’t make any sense if there weren’t any success stories out there regarding chatbot. A free chatbot services dubbed as first robot lawyer and called Do Not Pay helped overturn 160.000 parking tickets in London and New York just last year. Another success story is the fast-food company Domino which collaborated with Microsoft in creating their new app called Dom available on Facebook. This app allows their customers to make orders by sending the word PIZZA to Dom through messenger. The investment in this app was worth it as 80% of all UK Domino orders are now made online.

How are chatbots made?

If you’re considering making your chatbot for your business, you can rest assured that it’s easier than you think. You don’t have to be an artificial intelligence expert to create a chatbot that will make for a great user experience. Start off by choosing a platform where your chatbot will come alive. Popular choices are Facebook, Skype, and Twitter. Secondly, just contact a service like wit.ai, Chat fuel, Dexter, or converse.ai, and they will do all the hard work for you. The time, investment, and effort into building a chatbot will prove to be worth it in the long run, especially if you need to reach a greater number of new customers.

Conclusion

Just a couple of years back, if you’d mention using chatbot for your business, chances are you’d witness a lot of eye rolling. However, things are quite different today with almost every online business using chatbot to stay ahead. The main reasons for this change are that more customers are now using messaging apps to get their services, because chatbot cut down on labor costs, and because chatbot is better than they once were. And as it turns out, making your chatbot is also pretty easy. You don’t need to have much knowledge of AI to create a chatbot, but you do need to know who your potential customers are and how your chatbot will help said, customers.

This blog is listed under Development & Implementations Community

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