Chatbots are revolutionizing the way we think about customer service. More and more companies are opting for this software solution. Why? Because patience is a scarce resource when it comes to users seeking online support. When users encounter technical issues or have questions about products and services, they want answers right away. Since the decrease in consumer satisfaction is directly related to waiting time, using a chatbot could be a game changer for your business. But chatbots are not just about customer service. They can also be online friends, a reliable news source, or even a health tool for self-diagnosis.
Understanding the Power of Chatbots
A chatbot is a type of software based on a script embedded in an online messaging service. We can interact with it using short text messages and get answers to questions and commands.
Depending on how they work, chatbots can be divided into three categories:
Scenario-based Chatbots
They are based on fixed templates of questions and answers. Interacting with them is more like filling out a form than talking to a consultant. They are the easiest type of chatbot to create, as they contain a full database of possible commands and assigned answers, leaving no room for improvisation. This is a very effective solution for businesses that can anticipate the most common customer questions.
Conversational Chatbots
Their purpose is to mimic textual interaction with a living human. The algorithm of such a bot selects its responses based on the input received from the caller. Most bots of this type are available only in English, but tests are already being conducted to support conversations in more grammatically complex languages.
Mixed Chatbots
They use both action strategies described above. They first analyze the keywords in the message and then try to match one of the pre-programmed conversation scenarios.
Who Will Benefit from Using Chatbots?
No matter what online service or product your company offers, chatbots can automate most of the monotonous, repetitive tasks that customer service representatives deal with on a daily basis. But support is not the only use for chatbots. They can also serve as a source of entertainment, knowledge, or even a substitute for chatting with a friend. A chatbot can not only support your product, but also become your product.
Popular Chatbot Uses (Other Than Customer Service)
News bots
The CNN news bot is a chatbot accessible via Facebook Messenger that sends its callers the most important information about current events. This is a great way to always stay up to date with world news.
Scheduling bots
If you are tired of managing scheduled meetings, you can get yourself a virtual assistant that will schedule your appointments, save them to your calendar and remind you of them in advance.
Weather bots
A weather bot is a chatbot that provides real-time weather notifications based on the location preference entered by the user. Never again will you go out in the rain without an umbrella.
Self-diagnosing health chatbots
AI-enabled chatbot systems can provide users with potential diagnoses and assist them with self-triaging based on Artificial Intelligence (AI) techniques using human-like conversations.
Virtual friends
Replika is a chatbot operating in an app. You can talk to it as you would with a virtual friend who always has time for a little chat.
The Global Chatbot Market Is Expected to Reach USD 3.99 billion by 2030
According to a recent report, the global chatbot market size was valued at USD 525.7 million in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 25.7% from 2022 to 2030. The market is expected to be driven by the increasing adoption of customer service activities among companies in order to reduce operating costs.
“The e-commerce segment dominated the market with a revenue share of over 20.0% in 2021. Chatbots find applications in a wide range of industries, such as healthcare, retail, BFSI, media and entertainment, travel and tourism, and e-commerce. The BFSI segment is expected to register the second-fastest CAGR from 2022 to 2030”, according to the report.
Do Chatbots Have Disadvantages?
A chatbot cannot show true empathy the way real people do. However, it is worth remembering that if it takes too long to solve a problem, even the most sincere empathy will not alleviate the customer’s frustration. Chatbots respond instantly, so empathy and apologies are unnecessary. In fact, the only problem with chatbots these days is that they can’t solve all problems. It is impossible to predict all potential conversation scenarios, and chatbots’ ability to realistically improvise is just germinating.
Conclusion
A properly programmed and configured chatbot could be a real treasure for your support department. It can handle hundreds of inquiries at once and thus significantly increase customer satisfaction. With this technology, your company will save a lot of time and money and allocate these precious resources to other priorities.
