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Chatbot Insights- The Insider’s Edition.

Chatbots are being used extensively across many sectors of businesses today. Automation is at its height and is only getting bigger from here. 

So with all its popularity and fanfare, we thought of giving you all a little insight on how chatbots help in businesses and what do the insiders have to say about them?

“Marketing automation with the help of marketing bots has a potential to become a key one on the marketing scale of the near future” says Elon Musk. Adding to this, he also says “With automation, there will come abundance. Almost everything will get very cheap”. Now, who doesn’t want that?! 

Well, we cannot disagree with Elon Musk. His understanding of the market and technology comes with utmost experience, after all. 

Chatbots have been a great medium to automate any kind of monotonous tasks. So recently, Business Insider released an article that says “80% of the businesses will be using chatbots by 2020”. Let’s see why! 

All about chatbots and businesses! 

We can endlessly talk about how chatbots are trending, anticipate what they’re going to result in and review some interesting examples. Yet, there are some of us who would question their significance and dig deep into how they can leverage chatbots for businesses. 

Chatbots are being widely used among several large scale companies today. Some of them that we use in our daily lives, like Slack, Messenger, Kik, Siri, Alexa and much more. 

If these companies make use of this technology, then there must be some real use-cases to it. Chatbots have never been large-scale industry specific. Small scale businesses like restaurants, delivery services, travel agencies, schools, e-commerce etc are seen to be striking gold as well! 

But let’s get down to the strategies of deploying these bots by businesses. This is to give you a clearer picture of how these chatbots really help you achieve a smooth run in the business front. 

How do chatbots work in favour for businesses? 

  1. Availability- They are available 24/7 hours, 365 days! This makes them easy to reach out to and reliable, without the limitations of human agents. 
  2. Handle multiple tasks at once– They can handle large volume of requests, record all those interactions and automatically learn from it to personalise your customers content for the next time. (God bless machine learning!) 
  3. Low maintenance costs– Implementing these bots can be a lot cheaper than making a cross platform app or hiring employees to take care of each task. 
  4. Deeper knowledge on consumer preferences– Chatbots can help you get a little closer to your consumers through their interactions. They record all user attributes and store this data for future references and personalisation. 
  5. Time saver– Chatbots save time and energy spent in vain while manually completing a long list of repetitive tasks. Like imagine you have to tell all your customers about a new feature launch. Are you going to individually type out a content and send it over to each one of them or are you going to let the chatbot do it within seconds? Chatbots save your staff the hassle, therefore, giving them more time to focus on what’s bigger and needs human involvement. 

Why does your business need it? 

  1. To scale up your operations.
  2. If you have identical products and services, a chatbot can portray them correctly to the customers without confusing them. 
  3. If your target audience are the millennials, you should definitely consider integrating chatbots in your marketing strategy. Chatbots are trending like never before and according to a study, millennials prefer having an easy interaction with a chatbot than talking to an agent. 
  4. If you have no time or patience for ANY ERRORS! If you have a business, say you run a bank, there are very high chances that a few processes are complex and time-consuming. Hence, any human errors made during these processes can sabotage the whole operations and further delay the results, therefore leaving you stressed and your customers unhappy. (Nobody wants that!) 
  5. If you’re looking for an interactive marketing platform, chatbots are the go because they can engage your customers well.
  6. Level up organisational efficiency
  7. If your strategy includes marketing content through online channels, chatbots are hands down the easiest, most efficient and cost-effective tool for you! 

To sum up, 

So chatbots are a one time investment that helps businesses reduce staff requirements, save time and operational costs. Chatbots are the hottest trend in the artificial intelligence and marketing today, hence gradually becoming business’s favorite tool. 

To build a chatbot for your business, visit our website Engati and choose from 100+ bot templates to customise the ideal bot yourself.

Also, for a little more insight on chatbot technology, read some of these previous blogs

For a step-by-step demonstration on how to build a bot, check out our Youtube channel for fun tutorials. 

Thanks for reading. We hope this blog was helpful. 

Happy botting!

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