The surge in on-demand messaging has shifted customers’ preferences for communication. With the emerging chatbots trends more industries are integrating chatbots into their business processes to deliver continuous customer engagement.
Chatbots are a critical resource for enhancing the consumer experience and providing excellent customer service. Chatbots are transforming the ways businesses connect with current and prospective customers.
As per Gartner, “Artificial Intelligence (AI) will be a mainstream customer experience investment in the next couple of years”. 47% of organizations will use chatbots for customer care and 40% will deploy virtual assistants.
AI has been revamping the ways of communication ways for businesses both with customers and internally. AI is vital for enabling machine learning and the flexible interpretation of automated business communications.
Going further, chatbots are predicted to move from simple user-based queries to more advanced predictive analytics-based real time conversations.
With the chatbot trends making headway, more and more industries innovative applications to automate their business processes. They are being adopted by multiple business verticals to deliver excellent customer service and a delightful experience.
Undoubtedly, bots will be transforming the way businesses communicate with their customers & prospects. It has been predicted that conversational disruption may reduce and encourage marketers to prioritize chatbots as a channel for reaching out to users.
The deployment of bot solutions will extend its horizons in the near future. The number one chatbot use case is to address customers promptly, having a bot platform can help to achieve key business metrics like average resolution time and first contact resolution.
Source: Digital Marketing Community
Take a glance at the research-based statistics that provide valuable insights into the trends of the chatbot industry. Businesses can consider the statistical insights for successful deployment of virtual assistants.
The chatbot ecosystem is quickly expanding despite the relatively robust ecosystem that currently exists. Companies from Fortune 500 to startups are implementing the chatbot benefits to gain pace and efficiency.
Let’s review some of the most happening chatbot trends and their future use cases.
As per Global Market Insights, “The overall market size for chatbots worldwide would be over $1.3 billion by 2024.” Hence, it is inevitable that the chatbot industry will become the driving force of business communications.
The natural language processing (NLP) bots use sentiment analysis and predictive analytics to intelligently understand the conversations and the intent of the queries. Considering the chatbot stats about how businesses are adopting AI technology, there are still some challenges to implementing chatbot best practices successfully.
The key challenges are:
Keeping the drawbacks in mind and keeping pace with consumer expectations, businesses now are more focused on building chatbots that are indistinguishable from humans with the help of machine learning (ML), artificial intelligence (AI), and natural language processing (NLP).
Chatbots with a more conversational AI has the ability to:
Chatbots are becoming more conversational to communicate effectively and the next step is to improve user experience. Sentiment analysis is important to train chatbots with more human alike capabilities.
It is not just about providing an effective response, you also need to create a delightful customer experience. With the help of sentiment analysis, chatbots could understand whether the conversation was going well and respond to customer emotions accordingly.
For all the customer insights, chatbots can collect, normalize, and aggregate customer feedback data for further analysis.
Here are some ways chatbot sentimental analysis can enhance user experience.
According to Chatbots Magazine, “Businesses can reduce customer service costs by up to 30% by deploying a conversational chatbot”.
AI chatbot trends aim at saving costs significantly when businesses upgrade from inefficient IVR technology to AI. Bots without human involvement can handle simple requests such as changing a password, requesting a balance, scheduling an appointment, etc.
Here are some common use cases:
Chatbots are poised to go through transformational changes to implement AI across their core business processes. Some of these are
Voice is the next big thing!
Users are already used to starting their days with “Ok Google, what’s in my calendar today?”. According to Forbes, “More than 50% of all searches will be voice-driven”. It is a greatly emerging conversational banking trend.
It’s all about facilitating your users with a seamless experience with your business, and you can achieve that by voice-driven chatbots. Accenture research says “Digital consumers prefer messaging platforms that have a voice and text-based interfaces”.
Why are voice bots gaining popularity?
Conversional bots utilize artificial intelligence and are capable of assisting over both text or voice. The trend of automating customer engagement will continue to be on the rise in 2022, which will help in sectors such as insurance, travel, and financial services.
In banks, the customer data is combined with the latest data to personalize communication with the customers. In the current time when the competition is at its peak, brands must not miss out on any chance of converting leads into their customers and provide the best-personalized experience as new trends in customer service.
AI chatbots help to redefine the way businesses interact with customers. In the current time, where social messaging applications are gaining popularity, following the chatbot industry trends will connect you with your customers in a great way.
An increase in customer experience generates an average revenue increase of $823 million over three years for a company with $1 billion in annual revenues. By choosing the best AI chatbot platform, businesses can automate different business functions like lead generations, FAQs, Customer feedback to boost your customer experience.
Here is how deploying chatbots can improve customer experience?
Based on the customer experience, businesses can choose the use of chatbots for communicating with their customers.
The concept of conversational commerce is more preferred as it encourages buyers to shop online with chatbots. Messaging platforms allow businesses to revive their approach from improving branding to deliver the best customer service.
Going ahead, more and more brands will adopt messaging apps to boost customer engagement and increase customer loyalty as these platforms will have strong bot capabilities along with an integrated approach with various business functions.
Let us take the example of WhatsApp, the most popular messaging channel.
Book my show, a well known Indian online booking app, has integrated WhatsApp for Business to send ticket confirmations as WhatsApp messages by default. The users who book tickets on BookMyShow will be notified through a WhatsApp message along with the confirmation text or an M-ticket (mobile ticket) QR Code.
Messaging platforms having chatbot capabilities can help businesses to drive,
Chatbots are drastically changing the way businesses interact with customers, manage campaigns for lead generation, and automate payments. Chatbots Magazine found out 67% of US millennials said they are likely to purchase products and services from brands using a chatbot.
The future of chatbots is that businesses will automate simple payments and allow users to pay directly over live chat or Facebook Messenger apps. The instant process makes the customer happy and improves customer satisfaction.
MasterCard has also launched a chatbot, especially for customer payments. These capabilities of the bots to answer queries related to account balance, assist customers to set payment alerts and collect final payments from customers.
Though data security and information protection are an important aspect, it is in the nascent state. It will take a bit of time to catch up on making chatbot use cases.
Similarly, a chatbot template for pricing can help customers get a quick idea about the cost of products or services without involving the human agent.
Here are some main benefits to accepting Facebook Messenger payments:
Social media is no more for just making friends. With time, it is used for voicing opinions, ordering products and services, offering reviews, and even getting in touch with businesses. Hence, it becomes a necessity for businesses to use chatbots to facilitate interaction on these platforms.
There are over 100,000 Facebook bots active on Facebook Messenger platform.
Businesses in various sectors have already employed chatbots to use this vital resource to better understand the customer needs and even improve ways that the business can help the consumers.
Leveraging AI across social media marketing, helps you to understand and track multiple aspects of customer behavior
Artificial Intelligence (AI) helps to analyze voluminous user-generated data to identify trending topics and understand your user behavior. It also helps to streamline the processes to work in an effective manner.
Apart from handling customer requests seamlessly, chatbots deliver incredible business value by streamlining the internal workflows from small businesses to enterprises.
There are many use cases for AI chatbots with each variant application striving towards one common goal – to improve the experience and efficiency of the user.
Here is how chatbot trends can be used across enterprise functions:
More and more brands are going to build applications in the future. Bots can collect data and analyze to take important actions.
Bots are used in streamlining personal tasks or day-to-day activities such as fitness, parenting, kids, e-learning, etc.
Fitness chatbots are being developed for discovering user preferences and to create a personalized chatbot experience. It will not be time demanding while engaging the user with their weekly fitness routine.
There are many examples where AI has already entered the mobile app world and benefited many sectors like health care.
Chatbot technology is one of the most prospering eLearning innovations, which serves as a helping hand by simplifying the teaching methodology. These intelligent bots are often deployed as virtual assistants.
Chatbots have turned out to be the most innovative solution in bridging the gap between technology and education. The implementation of chatbots creates an interactive learning experience for the student much closer to the one-to-one with the teacher.
Chatbots are going to the mainstream across diverse business functions and consumer applications. Going ahead, automation will make its roots extra stronger and overcome all the chatbot challenges faced by the businesses.
Chatbot architecture and design will evolve to the point that interactive AI will become standard for customer service. Major tech companies are moving ahead with the development of advanced chatbots and machine learning technology.
Having a deep understanding of your business, your customers, and all of your requirements – and implementing chatbots trends accordingly – will have a significant impact on not only the customer experience but also the overall customer journey
This post was last modified on December 6, 2021 5:54 pm
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