November 28

What is the main objective of chatbot?

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Businesses are beginning to see the benefits of using chatbots for their consumer-facing products. According to a survey by Oracle, when asked which emerging technologies they think will improve their customer service most, 80% of brands surveyed stated they had already implemented or planned to start using chatbots by 2020. It is principally because these businesses have concluded that the benefits of chatbots are all worth investing in their development. Accordingly, whether you need your own chatbot or not will depend entirely on your willingness and readiness to invest in and work towards the following positive outcomes:

    • Improved round-the-clock customer service

      You can use a chatbot to make your brand interactive and accessible 24/7. With chatbots, your customers will be much more likely to get instant and consistent answers to the questions they would have. This responsiveness allows for generally better customer experience, improved customer satisfaction, and increased customer engagement. Direct messaging is one of the best ways to access reliable information, and chatbots can dramatically reduce or even eliminate wait time for the next available operator, allowing customers to get swift and reliable answers even during after-hours.

      These chatbot-provided responses will most likely be recorded and personalized. Recordability, in turn, can benefit both a business and a customer. Upon the customer’s consent, the business will get some important insights, while the customer will be able to take screenshots of a conversation to act upon them later on.

    • A deeper understanding of your customers

      Chatbots have benefits to offer to both companies and customers beyond cost savings. Thus, for example, businesses that have implemented chatbots can get a better understanding of customers’ needs and wants. However, this will only be possible if a chatbot is advanced enough to understand and serve customer queries flawlessly.

      In particular, the recordability we’ve mentioned in the previous point is instrumental in obtaining actionable insights. Chatbots can grab the needed information not only to respond instantly and accurately but also provide your business with detailed records of customers’ pain points. This information can be used to address them one by one in the future. A chatbot is a perfect tool for learning about customer expectations. It takes some time to train it to obtain the necessary data. Still, once this stage is completed, you will be able to receive feedback through customer-chatbot interactions and plan your organizational improvements accordingly.

    • Optimized back-end operations

      Not only can a chatbot replace efficient human support when it cannot possibly be provided, but also conversational AI can further increase customer support capacity. It is achieved through the automation of high-volume customer interactions, enabling a more consistent information flow and augmentation of human support staff.

      It has been repeatedly proven that customer service performance gets better when augmented by AI. Continuously active chatbot platforms can help companies get improved operational outcomes, such as shorter wait times that we’ve already mentioned, establishing of better ways for app or website users to find information they are looking for, or automation of new leads acquisition. Specifically, chatbots can help mine customer data and drive new leads by harvesting prospects’ email addresses or prompting them to give feedback.

    • Saved resources

      Potential multiple savings resulting from chatbot implementation is one powerful argument that companies should bear in mind.

      Conversational marketing solutions are reported to improve a customer journey saving time and money.

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      Even though complete automation of the customer service and sales workforce is not possible, you’ll achieve considerable savings even partially automating these positions. By putting chatbots in charge of customer conversations, you can save on your employees’ labor costs and then allocate these resources more efficiently. Thus, according to Public Tableau, 36% of sales representatives’ and 29% of customer service representatives’ work time and effort in the US are automatable, which means this work can be automated through chatbots and other tech innovations.

      That said, we cannot deny that the implementation of a chatbot requires initial investments. Still, except for that, chatbot maintenance extra costs will be relatively low. And given that chatbots will also drive savings on customer service department labor costs, the technology adoption promises the conversational-AI-powered businesses a dramatic decrease in their day-to-day expenses in the long run.

Chatbot Provides Smart Feedback

A very important and significant aspect of the learning process is feedback, whether it comes from a student and directed towards the teachers or the other way around.

Feedback helps students in identifying the areas they are lacking and requires efforts and similarly, gives the teacher an opportunity to figure out areas they can improve their teaching abilities as well.

Facilitate Seamless Live Communication

Nobody likes to wait around for a solution. When a customer has an issue with your products or services, they’ll quickly lose patience if your brand can’t rectify the problem promptly.

Reports that humans have anattention span akin to a goldfish are widespread, and while it may not be conclusive, the fact remains how people interact with brands is changing.

Keyword Recognition

This approach allows customers to submit their written inquiries. The chatbot identifies keywords from the query and directs customers to a corresponding solution. This type of chatbot can be used for a broader range of customer inquiries.

This approach uses a machine learning engine to train itself to deliver an optimal response to a customer query. It learns based on past inquiries and evolves as inputs are analyzed. A large amount of data is needed to train the system, and machine learning of the chatbot application is done in a black box with no insight into what is learned.

Natural language understanding (NLU)

Natural language understanding (NLU) is the ability of the chatbot to understand a human. It is the process of converting text into structured data for a machine to understand. NLU follows three specific concepts. They are: entities, context, and expectations

Natural Language Processing (NLP) bots are designed to convert the text or speech inputs of the user into structured data. The data is further used to choose a relevant answer. NLP includes important steps such as tokenization, chatbot sentiment analysis, entity recognition, and dependency parsing.


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