Why Without Chatbots Your Business Is Going To Die?

In our modern world technologies and business are walking hand in hand. In recent few years, there have been a lot of different technological innovations that are influencing almost every industry. In 2017 you cannot ignore the changes that technology is bringing us because you may fall behind others. Adopting new trends is very important as it may help you to stand out from the crowd of your competitors. An innovation that is causing a big fuss right now are the chatbots. Bots are conquering almost every area in business bringing to them a lot of benefits.

What Are Chatbots?

Chatbots are computer programs that imitate conversation with people using artificial intelligence. These programs are usually created to simulate how a person would behave as a conversational partner. Chatbots are typically used in dialog systems for different practical purposes including customer service or information acquisition.

There are two types of chatbots – one functions based on a set of rules, and the other more advanced version uses machine learning.

Chatbots that function based on a set of rules are very limited. They can only respond to very specific commands. This means that these bots have clear boundaries and they are as smart as they are programmed to be.

Chatbots that function using machine learning have artificial intelligence. They understand language, not just specific commands. These type of chatbots can constantly learn and improve themselves. They can get smarter when chatting with people.

What Can Kill Your Business?

It is really hard to be successful in such a competitive area as a business. There are many reasons that can make you fail in what you do. In our age technologies play the most important role in almost every area. Therefore, ignoring new trends can harm your business. In order to keep up with others and to not to fall behind your competitors, you have to adapt and implement new changes to your business.

 
  • Growing popularity of messengers.

The growing popularity of messaging apps is hard to deny. The GlobalWebIndex Statistics says that 75% of Internet users are adopters of one or few messengers.

People are starting to use messenger to chat with their friends, relatives, to connect with different brands, search for products and look for some content. Recent studies show that messengers are more popular and have higher rates than apps. Finally, the most of the users is a younger age group which actually is highly important demographic for advertisers, publishers, and brands.

Stats from Business Insider

According to Gartner research, the number of users that use messengers is huge:

Facebook Messenger: 900 million people and 50 million businesses

Kik: 300 million people

Line: 218.4 million people

Snapchat: 100 million people

Twitter Direct Message: 300 million people

WeChat: 697 million people

This means that chatbots give you an opportunity to reach a massive audience that can potentially become your clients. It’s an easy way to reach big volumes of people.

 
  • Risk of falling behind.

Business is a really tough field to compete in. Working in a field where everybody provides the same as you services or products is extremely hard. You always have to be ahead of your competitors to stand out from them. For this reason, you always have to follow new trends and to not to be afraid to implement new changes in your work. In the area of an extreme and rapid progress in which we currently live, you always to be aware of innovations in a technological market.

When you are an early adopter of new technology, it puts you in a leading position, and customers like to associate themselves with industry leaders.

No doubt, chatbots have a huge potential in all industries. The growing popularity of chatbots has had a great influence on consumers, allowing them to experience businesses in a totally new way through AI-driven conversational robots.

 
  • Out of date customer support.

In 2017 it is all about making everything easier and faster. The most of the customer support is really out of date. It is slow, not always reliable, sometimes it can be not really helpful. It is obvious that customers will choose the vendor that requires spending less efforts to get in touch with him and provides faster support. The business sets up something similar to a call center where real people are chatting online all day long. This isn’t cost effective, and 99% of businesses can never do this. Moreover, most of the people don’t like to spend time waiting on their phone to talk to support person.  

41% of Millennials say that they would be “truly satisfied” if they could use messaging or SMS to connect with companies and organizations where they do business.

This means that the way support is provided today has to be changed.

For business owners, a current way of providing customers support is also not the greatest. Most businesses get flooded with similar questions such as hours of operation, address, return policies, etc.

Frost & Sullivan forecasts the total number of contact center seats shrinking by 100,000 seats by 2017.

Customers interact with chatbots as they would with human representatives, but they’re cheaper and more efficient.

 
  • Inefficient usage of a work-force.

Today’s chatbots are powerful personal assistants. They can call a taxi, make an order for a lunch, make a hotel reservation, reorder office supplies and even manage your calendar. Moreover, chatbots can take over the boring work so you can focus on what’s most important for your business.

In 2017 large brands and even small businesses are implementing chatbots in their work to simplify their working operations. You think of a chatbot as your trusted and reliable employee. Always on time, always there to help, always accurate; it’s working while your human employees are asleep, distracted, or busy. Once set, a chatbot will perform the task it has been built to do, without fail, 24 hours a day, 7 days a week.

 
  • Ignoring new opportunities for an advertising.

As every new trend that appears on market advertisement using chatbots offers great opportunities and challenges for brands. With our rapidly developing technologies, chatbot-based advertising is a hot trend right now. In-chatbot advertising is still a new area, but it offers great opportunities for different business industries.  

Advertising-focused chatbots are a great way for small business owners to expand their promotional efforts. They can send news about specials or coupons to keep their business top of mind via direct messaging.

If people are spending most of their time in messaging apps, we have to think about how to meet them where they are. People always gravitate to what is easiest. — Baron Concors, Chief Digital Officer @PizzaHut

Nowadays customers can buy products by having a conversation with a chatbot. Since the chatbot stores information and any changes to orders, it can learn over time the preferences of individual users and will be able to follow-up to make following sales.

Conversational advertising offers many possible advantages while solving many of the current problems with display ads. One of such problems is that programmatic RTB auctions can slow down web pages, but there are no such problems with bots. Because bots aren’t expected to answer in milliseconds, short pauses are fine.

Emi explains that Teads recently released a conversational ad for Tommy Hilfiger, revealing that while the ad itself lasts for 15 seconds, users spend an average of one minute 45 seconds engaging with the ad. Emi explains that Teads recently released a conversational ad for Tommy Hilfiger, revealing that while the ad itself lasts for 15 seconds, users spend an average of one minute 45 seconds engaging with the ad.

Finally, a chatbot is a powerful tool that can bring benefits to every industry. Bots enhance communication with customers and help you to reach more people. You can thrive your business easily on the latest technologies and keep your customers happy.

Author – Oleh Pylypchak

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