The digital marketing industry has undergone a paradigm shift in the recent past. To keep up with the latest trends and to stay ahead of competitors, it is necessary to keep updating the brand’s digital strategy. One such trending digital application in 2018 was the use of chatbots. A lot of organizations were seen using this new application in the past year.
According to Gartner, by the year 2020, many organizations will succeed in capturing 85% of customer contact through technology. Hence the use of chatbots will intensify in 2019. Smart technology will ensure that a chatbot will be able to do better justice at recognizing the questions and intentions of the customer.
What is a chatbot?
The chatbot is AI (artificial intelligence) driven, which is capable of conducting a conversation with a user in natural language either through messaging applications, websites, and mobile apps or through the telephone. With the help of AI, bots are able to understand complex requests and give personalized responses. They are becoming popular and improving themselves with time due to the advancement in technology and machine learning.
According to Business Insider Intelligence “approximately 1.4 Billion people use Messaging Apps and are willing to talk to Chatbots.”
At present, most of the bots follow a set of instructions and they can’t do more than that. They are programmed to perform messaging and other tasks like placing an order, booking appointment, answering queries of customers and other tasks. The use of chatbots has become quite common and many of us use Chatbots on a daily basis without even realizing it.
In-depth research and ongoing analysis will help to make chatbots better and help in creating intuitive and user-centric customer services and business brands. Last couple of years have seen a noticeable change from conventional mobile app development to the smarter Chatbots. Let’s have a look at the latest Chatbot trends in 2019.
The latest chatbot trends in 2019 are:
1. Chatbots to provide customer service: It is predicted that, by the end of 2020, more than 25% of the world’s population (which is roughly 1.75 billion people) would be using messaging apps for their daily communication. Chatbots are said to be the next big platform, which can connect customers to businesses.
According to a market survey by IBM, 265 Billion customer requests are recorded every year. Businesses are spending nearly $1.3 trillion to serve these customer requests. The use of Chatbots can help them save up to 30% of this amount.
2. Chatbots to become more human-like: To some consumers, chatbots seems unnatural. They prefer talking to a sales representative than a bot because they feel the bots won’t be able to answer all their questions properly. This thought-process is slowly making its way out as the millennials have very few concerns about this technology-driven world, and are more intrigued with technology innovations.
“According to Mobile Marketer research, around 40% of millennials say they chat with Chatbots on a daily basis.”
3. Chatbots are becoming AI-driven: Chatbots are now AI-driven and are capable of giving a personalized experience to both clients and customers. The Bank of America’schatbot is capable of managing any customer query. With the help of predictive analysis, the bot can even sense customers needs and guide them through complex banking procedures. It can help the customers to make payments, check account balances, and etc. Even insurance companies are using AI-driven chatbot services to initiate the claim process automatically. They even educate the customers through chatbot using live chat.
4. Chatbots and Business: In this technology-driven world more and more businesses are using chatbots to provide assistance to their customers. Chatbots help the customers to connect in real-time.
A recent survey shows that more than 25% of interactions with tech will be conversation-based. Hence more and more companies are seen adapting voice-assisted bot for their businesses. And many retailers are also using voice-assisted bots, which will help them to check orders and making purchases. This in a way will help in delivering good products or services to the consumers and thus create a better brand image.
5. Natural Language understanding: To stay in sync with the changing technology, some companies have started working on Natural Language Understanding. This technology will help users and machines to interact more naturally. Hence, companies are investing in development of technologies like AI negotiation capabilities and reinforced learning so that the machines get a better understanding of the human language and user requests.
Automated Call Centre’s with AI technology: “Chatbots Will Be Indistinguishable From Humans by 2029” – Ray Kurzweil
6. The recent advancements made in Natural Language processing will ensure the future of automated call centers. The combination of Natural Language Processing, AI voice generation and ‘serverless’ technology will give birth to automated call centers. They will be available 24/7, and these automated call centers will have deep domain knowledge which will make the conversation with the customers engaging.
7. The rise in use of messaging apps: Nowadays people are using more messaging apps, and this, in turn, will make it easy for brands to create a good customer relationship with the targeted audience. And this obviously helps in getting the best conversions. Now chatbots are entering the messaging mainstream for having one to one conversions and to provide the best customer service anytime.
- Statistics show that more than 85% of users prefer to communicate and get information via bots than a website.
- The E-mail campaigns see a maximum of 40% open rates and 2% CTR, whereas chatbots get over 75% opens and over 50% CTR.
Chatbot applications help in smooth interactions between consumer and services, making customer experience noteworthy. Chatbots can offer companies’ new ways to improve the customer’s engagement process, and operational efficiency by reducing the cost of customer service.
For a chatbot to offer a successful solution, it should be able to effectively solve queries and at the same time be engaging. Regardless of the kind of approach and the platform, human intervention is always crucial in configuring, training and optimizing the chatbot system.
There are several ways to incorporate chatbots like integrating relevant codes on your website. Chatbots are also capable of working with popular messaging platforms like Facebook messenger, WhatsApp, Skype, Viper, and, WeChat. Chatbots for business is gradually evolving.