We may already be more than halfway through the year, but before it ends we do not want you to turn a blind eye to a technology that is set to explode. According to Gartner, chatbots will power 85% of all customer service interactions by 2020. Yes, you read it right: 85% of customer service by 2020; and we are in August 2018.
If you are new to the concept of a chatbot, Floatbot has compiled a comprehensive guide on what a chatbot is and how you can implement one for your business. The data reveals two important details:
- That customers are more likely to choose a chatbot to solve their queries.
- Adopting the technology at this stage could offer an ideal solution.
But what is chatbot technology, why is it important, how does it work and why is it so popular? It is also important to consider which companies can use a chatbot. These are all questions you will encounter when you are considering implementing a chatbot solution.
This article will help you understand what a chatbot is and what the various parameters surrounding the technology are. Let us start by explaining exactly what a chatbot is.
What is a chatbot?
A chatbot is a computer program designed to simulate a conversation with human users, especially over the internet. The main keywords and key terms from this definition are "a computer program", "conversation" and "internet".
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A chatbot interacts with your customers via the internet in the form of messages. Here, the chatbot does not set command; it simply helps the users to provide solutions by using the most natural form of communication (i.e., chat in a language the user understands).
What can a chatbot do?
In basic terminology, a chatbot can automate tasks. The task can be further divided into other segments such as customer support, surveys, lead generation and appointment scheduling. Here are few cases in which chatbots can successfully help many businesses:
- A chatbot can help customers solve their queries related to your brand by answering FAQs, or by providing information about your products or services.
- Besides helping customers in solving queries, it also helps them to book appointments, find out about the availability of products and help plan trips or vacations.
- Chatbots are also capable of answering multiple queries at a time, which can be considered a huge benefit of implementing a bot.
Considering the above cases, it is clear that chatbots can decrease the time tasks take and help improve overall performance. Floatbot has been even estimated that brands can save up to 60% of their time using chatbots.
Why chatbots are important?
Chatbot give brands the opportunity to be available on platforms where its audience spend most of their time. Your chatbot can be integrated on platforms that help you to be in the same room with your customers, and whenever a user needs some information, they can directly reach you on these platforms.
These integrations also lead to sales. It acts like your online sale representative to a large number of audience available online. Ready to talk about your product and promote your offers, your bot could provide flexibility to your customers and help them reach you 24/7.
The other element that has helped chatbot gain popularity are their personalized responses to each and every user.
Chatbot primarily consist of two types:
Workflow-based or simple chatbot
- Workflow-based chatbots are flow driven and menu based. Users get options to access the bot and that is how the bot works. You set the flows and information related to your products and when the customer asks about a particular information that flow will be triggered automatically.
AI or intelligent chatbot
- Intelligent bots are capable of recognizing user queries with the help of AI. These bots recognize keywords from the user queries and respond to the user accordingly. With the help of NLP, these bots can also communicate in natural language with people. For example, if the user asks to schedule an appointment, then the bot will trigger the actions related to appointments.
The below imagine explains what makes up an intelligent bot:
How chatbots work?
Chatbots are capable of answering various user queries depending on the functionality. They can also guide users to attain the appropriate information anytime they require. AI-based bots can detect the user's intents from the input query, and evaluate and respond accordingly. For example, if the user asks the bot to "book flight to Dubai on July 5", then the bot can detect the destination and date from the query.
Meanwhile, in workflow-based chatbots, the bot guides users with the help of flows. Flows can be internally connected or redirecting to a URL (depending on the type of bot and its requirements).
How to build a chatbot?
Developing a chatbot with the help of code is challenging because you have to get the right resources in place, seek professionals in the field of AI and technology, and develop a portal. But as this technology began to boom in tech circles, the experts could not hold themselves back from making a platform for brands to use chatbot in the easiest way possible.
Chatbots can now be easily be created without any prior knowledge of coding. DIY chatbot platforms enable you to create bots with items that can be used easily. Chatbot development platform such as Floatbot help you in not only creating a bot, but also in adding the DIY capabilities of AI and making the bot shareable whenever required.
Floatbot, an all-in-one solution for chatbots, has put together a quick look at how an AI-powered chatbot work, which you can view here.