April 2018 -

Chatbots Vs Live Chat – Who Will Win The Battle?

We’re all familiar with the word artificial intelligence which has given birth to “Chatbots”. Chatbots are softwares that can have textual conversations with humans. Companies have been betting big on bots ever since its launch. Tech giants spent approximately $30 billion on AI in 2016.

But simultaneously, people have been all praise for live chats. So the question is, which is the better one? Both of these systems have their pros and cons. Let’s go into detail for that.

Chatbots

The biggest advantage of the chatbot is that it is instant and is available 24×7. People want responses immediately and they don’t want to wait for answers. It is also quite economical for business owners as they need not pump up too much money into creating chatbots. Due to developments in technology, there are easy softwares available to create chatbots. It also eliminates the need for having a human representative, thus, reducing cost. The human interference can be utilised for more important activities than for addressing menial queries.

But there is a downside to chatbots too. There is a limit to the kind of queries they can answer. The more complex the query, the more difficult for the bot to give an accurate answer. It’s not impossible but it does involve a lot of money and work on the bot. Whereas, live chat can help eliminate this problem.

Live Chat

Live Chat has been gaining popularity amongst businesses too. It eliminates the problem of waiting time and provides users with instant replies. Unlike chatbots, live chats are handled by actual human beings, so they have the ability to answer complex questions that a bot might not be able to answer. But the question comes to the availability of the service. Can the live chat service be made available 24×7? And if it is made available, then more employees have to hired for this job, which only increase the cost to the company.

As mentioned above, the battle between these 2 cannot declare a clear winner. It depends upon the goals, objectives and problem areas. And these criteria may differ from company to company. It’s about studying both these features and knowing your needs to find the perfect solution. The solution might even be a combination of chatbot and live chat.

Have you incorporated a live chat feature or a chatbot for your business? Let us know your story in the comments below.

How ChatBots Allow You To Increase Your Sales

Artificial intelligence and machine learning are undoubtedly the most controversial technologies of recent years. Both have proven great potential and have changed the way we think about all industries, including the sales department. Chatbots, more precisely, are a real competitive advantage for all companies. In particular, they help support customer service and make it more qualitative.

Chatbots can today boast of being indispensable in the marketing strategy of a company. They are a real ally, especially in instant messengers, because they can target and engage consumers.

Numerous studies have shown that chatbots have an obvious impact on sales. They are not negligible in the company strategy.

What is a chatbot?

A chatbot is an artificial intelligence system that is used by companies to communicate with their customers through instant messaging applications. Through natural language learning, chatbots are able to identify consumer queries and offer relevant answers.

The answers are less and less robotic
The use of “machin learning” allows chatbots to create new answers simply thanks to past data. These advances are aimed at increasing the quality of customer service. Today, good customer service is the key to conquer the consumer. Chatbots allow customers to interact with the business 24/7.

Why should I think about it?

Before implementing a chatbot in your business, the marketer must first consider the different technologies, because each of them has its own goal.

The goal of marketing is to reach its target and communicate on how a product can dramatically improve the lives of consumers. For the businessman, the goal is to increase sales and grow the company’s revenue. The chatbot can do both things at the same time.
The growing popularity of instant messaging applications has dramatically increased the range of possibilities.
People love instant messaging and they spend a lot of time there. Facebook Messenger has about 1.2 billion active users per month. Thus, the application represents an indispensable tool.

The opportunity for chatbots for your business
By improving the customer experience with chatbots, the customer is encouraged to inquire when he asks a question. The problem is that the customer does not necessarily intend to buy.

High engagement rate
This is where the chatbot comes in. After the conversation with the potential buyer, he can relaunch the customer on the product that interested him with promotional offers for example. This message is found directly in the customer’s inbox and is therefore likely to be open.
A chatbot messenger does not need to target upstream clients, this is a real benefit.

Analyzing and collecting data
By collecting and analyzing data, when a consumer comments on something, for example, the company collects valuable information. Chatbots have the ability to collect and analyze this crucial business information that may not be seen by staff.
Clients are better able to speak and express themselves when they know the person they are interacting with. It’s the same for chatbots.

Test the products.
Artificial intelligence simplifies the work of marketers. A company can test two product offerings at the same time. For example, 500 people can test a wording, a product presentation or a positioning. A sample of 500 other people can test a second version. This option allows a better understanding of the product and therefore better position it.

Guide sales.
Chatbots have become a real sales management tool. When a bot collects all the necessary data (including consumer behavior), it can offer the right product. The interactions between the bot and the consumer begin with the creation of the desire, then the selection, the order and finally the payment. It is a short and flawless circuit without human errors.

To conclude, integrating artificial intelligence into a business is relevant. The only brake is the budget. This decision must be made according to the criterion of size: large companies should not hesitate to introduce. As for the companies of intermediate size they must think twice. Integrating a lower quality chatbot can be disastrous for the customer relationship.

The Verdict Is In – Millennials Love Chatbots

Chatbots are no strangers to the world of artificial intelligence. Since its introduction, companies are always finding ways to innovate the functions and capabilities of Chatbots. Which brings us to the question? Who actually use Chatbots?

The answer is pretty obvious. It is the tech savvy youth i.e millennials. They are active participants on anything and everything on the internet. And it is no surprise that they’ve embraced chatbots with open arms.

A survey conducted by Retale states that nearly 60% of US millennials have interacted with a chatbot before. And the remaining 40% said they’d be happy to engage with a bot soon. The survey found that millennials were highly responsive to retail bots and it helped them increase their e-commerce purchases. 67% of the people surveyed said they are more likely to purchase products/services from a brand/company using a chatbot. Whereas, only a meagre 14% were not interested to make purchases via bots.

We’ve also noticed that plenty of e-commerce companies are trying to create a smart shopper bot that will be able to help users throughout the purchase process. Bots are used to send alerts of sales/discounts, reminders for sales/discounts. Certain bots can even help you find products by studying your requirements. With these innovations, online shopping has become a piece of cake for millennials and they’re not ready to stop anytime soon!

Chatbots For Mental Health

Chatbots have proven to be efficient when it comes to addressing any business related job roles. But their capabilities are so much. Incorporating bots in business activities is just the beginning. They have great potential to be the future of therapy and create awareness about mental health.

Numerous therapy chatbots have already been launched. But there’s still a long way to go to achieve the fullest potential.

Here are a couple of reasons why Chatbots are a great way to address mental health problems –

Availability

Although, there are numerous psychologists and doctors who are available to help people with their mental needs, they’re not available 24×7. Most of the time, you can meet them only after you schedule an appointment. There is a huge mismatch when it comes to availability. Bots are readily available. They might be able to help the person out during their vulnerable times or alert the necessary authorities if its a serious situation.

Anonymity

People are often not comfortable with discussing their personal problems or issues with another person, even if its a qualified medical and health professional. And the truth is, it takes the professionals a certain amount of time to break down the patient’s walls and to gain their trust. But with chatbots, users feel secure about the anonymity. They do not think that they’re being judged about their problems. They do not feel any apprehensions while talking to a bot.

Cost Efficient

Visiting a mental health professional can be a very expensive process. And not everyone can afford to spend such money. Bots can be helpful because they are extremely economical. The cost to develop and optimize a bot is still minimal compared to the amount needed to visit a doctor regularly. And this is one of the reasons why people prefer talking to a chatbot.

Although, bots show great potential in the field of therapy and mental health, they are not the end game. However, they can act as first-line-tools and guide people into getting the proper help they need.

Do you have any other thoughts about chatbots in therapy? Let us know what you think!