A chatbot is an artificially intelligent (AI) program designed to interact with users, and become more “intelligent” based on these interactions. The software is incredibly advanced, allowing chatbots to always give a preprogrammed response, or respond based on keywords and phrases.
Chatbots are becoming increasingly widespread. In 2016, the chatbot industry had an estimated value of $703.3 million. By 2021, it is expected to reach a market value of $3,172 million, according to MarketsandMarkets Research.
The web isn’t the only place you’ll find chatbots. AI are capable of sending messages across SMS and emails, although there are many advantages to having a chatbot users can consult on your website. Some of these benefits include increased customer service, availability, a better connection to your audiences, as well as keeping up with current trends in the business and IT industries.
Chatbots Have Zero Wait Time
Although a recent survey conducted by Bizrate Insights found that live chat was the second most preferred method of customer service, research by Arise reported that 13% of individuals believe no wait time is acceptable. In 2014, American Express reported that customers were only willing to wait on hold for 13 minutes. Consumer Reports study also supports these findings, with 75% of those surveyed reporting that long wait times (or the inability to speak to a representative altogether) were the most frustrating part of poor customer service.
Unlike working with live representatives, chatbots hare zero wait time. They can process hundreds – if not thousands – requests at a time without having to put a single client on hold.
Chatbots are Available 24/7
On top of having zero wait time to consult a chatbot, they are available 24 hours a day, seven days a week. If customers have concerns in the wee hours of the night, you won’t have to outsource customer service representatives from across the globe to answer their queries.
Chatbots are Never Rude
One of the many perks of working with a chatbot is that they are never rude. You never have to worry about a customer service representative getting snippy with a customer in the heat of the moment, or a customer taking a comment out of hand. A chatbot has unbeatable etiquette.
Chatbots Offer a Better Connection to Your Audiences
Consumers unanimously agree that interacting with a company makes it feel far more personable, fostering a deeper connection between the consumer and the brand. A recent survey conducted by Facebook reported that 69% of consumers in the U.S. put more trust and confidence into a company they can message.
Chatbots offer that interaction consumers crave, encouraging them to trust and feel comfortable with your company.
Chatbots are Incredibly Dynamic
Due to their adaptability, chatbots are naturally very dynamic. Their versatility makes them valuable for a wide array of customer service areas. In a report published by Drift, some of the most common uses of chatbots were quick responses in emergency situations, resolving a complaint, and receiving thorough explanations. Other uses including paying bills and making a purchase. As technology continues to advance, there are definitely even more situations chatbots could successfully be applied to.
Chatbots are incredibly advanced software programs designed to learn as they interact with users. They are very powerful and insanely helpful across a number of industries. There are many uses for chatbots, as well as many advantages to having one right on your website.
Chatbots are able to increase the quality of your customer service by providing 24-hour support with no wait times. They also help better connect audiences to your brand.