your password has been reset successfully, Please login again.

Can Chatbots enhance the whole business experience

2016 was the year when we all started using chatbots. They have changed the tech world. Read to know more
BY Sanjana Surbhi
Feature Writer, BusinessEx
May 25,2018

Technology keeps evolving. From first computers to tabs, technology is making our life easier. People are loving all the new digital tools and apps. Every day we read or come across some new terms, some might be too technical to understand, for example, Artificial Intelligence, big data, machine learning, the blockchain technology, chatbots are such buzzwords to us until we start using them.

Companies nowadays are looking for someinteresting technology that can interact with their customers and when needed deal with them. And chatbots took them by surprise. They have become a common term in business practices and they have changed the whole business scenario. In 2015, more than 1.5 billion people used chatting apps. Additionally, almost 70 percent of all app usage comes from just 200 apps.

But, what are chatbots?

Chatbots have been rising since last two years. According to an online publishing platform, Chatbots are services that let you interact with a computer using a simple chat-like interface. Chatbots can provide a very wide range of services." It is powered by artificial intelligence. For example, Ruhh, a Facebook messenger chatbot developed by Microsoft especially for India, can talk in both English and Hindi. It canbe a friend that everyone needs in their life as it replies faster than you could type your message. Banks like HDFC uses chatbots to make your life easier. By the year 2022, over $8 billion in cost savings is expected in the banking industry alone, with Chatbots expected to save banks between $0.50 and $0.70 per interaction.

Not only for entertainment but chatbots are used for business purposes as well.Chatbots are impacting and improving almost all the traditional businesses ideologies and strategies.

How does it work?

As simple as it sounds, it works throughnormal conversations and picks up whenever recognition is made, so that no extra efforts need to be put to appreciate someone. They are virtual assistants and definitely the future of marketing and customer support. They understand commands as well as languages. Chatbots gets smarter as it learns from the conversation it has with the humans.

Businesses and brands are using chatbots in many exciting ways. You can book flights, order food and can do anything.

How can chatbots enhance the whole business experience?

People are using the messaging app more than any other social media and that is I guess the turning point. Chatbots are bringing a new way of communicating and interacting with the customers. They help businesses and customers by providing instant replies. Here I have listed four points how it is enhancing the whole business experience:

Customer Service Customer service is an important factor in the success of any business startup. Having a 24*7 customer service will be an add-on to your overall business strategy and it will have a positive impact. This can be done with the help of chatbots. They are powered by artificial intelligence and can be programmed to give automated answers to some of the similar questions. They can provide assistance as a normal human. They can have interactive communication with the clients or customers and they might provide a solution to it as well.

Time-saver Chatbots can save your time by handling more tasks as well as customers at the same time. This will help you to focus on other important aspects of your business without increasing any customer based problem.

Increase sales and customer engagement Chatbots are intelligent. It sends a product to customers that can be converted into sales. It might also send coupons or discounts to customers which will automatically increase the sales. Chatbots can increase customer engagement by providing a little bit of information at a time and by increasing interaction. They will not bore customers as they are programmed with a great sense of humour.

Cost efficiency The best part about bots is they are cheap. They require minimal maintenance and since it is automated, there is no labour-intensive work that goes in there.

Chatbots are definitely the cheapest and fastest way of providing an engaging experience to the customers. They can be a great comeback to enhance your business.

Please add your Comment
SIMILAR Articles
February 14, 2019
Today, insistent entrepreneurs are opting-in the industry and help create a positive outcome in the ...More
By Jaspreet Kaur
February 12, 2019
Plainly trusting on the success rate of the stocks and betting your hard-earned money into plans can ...More
By Jaspreet Kaur
February 09, 2019
Oodles of hard work and knowledge need to be imbibed to become a good businessman ...More
By Jaspreet Kaur
February 08, 2019
Success is not only relatable to startups; it can be achieved by acquisition of failed ventures also ...More
By Jaspreet Kaur
February 07, 2019
One can earn good revenue from waste management business besides creating positive impacts in the so ...More
By Jaspreet Kaur
February 06, 2019
The enterprises which mainly target children as their customer face lesser struggles since the enter ...More
By Jaspreet Kaur
February 05, 2019
Regulating the waste is a jostling task for the regime, so it's time for young millennials to become ...More
By Jaspreet Kaur
February 04, 2019
An entertainment centre business directly deals with chunks of masses and thus, promotion precipitat ...More
By Jaspreet Kaur
January 31, 2019
To find the root cause, employers need to dive deeper into the problem and the results were totally ...More
By Jaspreet Kaur
January 31, 2019
Reckoning the candidates completely is not fair; an employer should consider crosschecking his backg ...More
By Jaspreet Kaur
January 30, 2019
Hiring a software company for the work is like employing the candidates in the company ...More
By Jaspreet Kaur
January 30, 2019
A good entrepreneur should be organized and capricious; also, he should possess a bring-it-on attitu ...More
By Jaspreet Kaur