We always remain keen to learn about the future, isn’t it? Certainly! And since you want to know about whether or not chatbots are the future of marketing, let’s discuss it.
Indeed, chatbots are an integral part of digital communication across the web, mobile app interfaces, and social media. Though the history of chatbot dates back to the 1960s, in the 21st century, it was first incorporated by a Chinese company, WeChat, back in the year 2009 as an advanced version of itself. And since then, marketers are becoming fond of chatbots. This is because the technology of chatbot offers fast-paced, effortless, and customer-centric communication in various contexts. Even after a decade, more and more brands are embracing the concept of bringing chatbot into their business. Without a doubt, Chatbot will be the future of marketing. It will impact marketing as well as sales of a business. In this post, we’ll know how Chatbot development influencing and transforming the market. So, here we go!
What Are Chatbots?
Chatbots are nothing but Artificial Intelligence (AI) technology that supports a conversation between the brand and its customers. This AI software is built and designed in such a way that it could mimic human communication and make customer support quick and efficient. In chatbots, machine-learning algorithms are embedded to make decision making easy. It requires vast data to let a chatbot interacts with customers in a meaningful way.
How Chatbots Are Evolving?
In order to expand their abilities, chatbots continue to develop and learn. Machine learning makes them self-taught which makes it easy for them to learn on their own. The more they interact with humans, the better they will become in terms of conversation. Over time, technology has made chatbots learn from their mistakes. This has made them more effective while interacting with people. At present, the organizations not do only looking to improve the process but also training their chatbots in the real world so that they can improve their function, understanding, and interaction in the near future.
Why Marketers Are Investing in Chatbots?
According to the Global Market Insights, it is predicted that the overall chatbot market by the year 2024 will go over $1.3 billion. For the next couple of years, AI will be the mainstream customer experience which will receive a considerable investment. 40% of organizations will invest in virtual investment, whereas 47% of organizations will prefer chatbots for customer care. This is one of the many reasons why marketers will keep on investing in Chatbots. Let us have a look at some of the other reasons:
In order to increase your customer engagement, you have to be spot-on and quick on your services. No one likes to receive a service, especially when there are so many alternatives available in the market that are capable of proffering better services. Customers expect real-time interaction. Making them wait in a phone queue only says the response time of your chatbot is too long.
Many reports have stated that it takes just 7 seconds to create an impact or to get the attention of a customer. If there is a delay, it means something is lacking and as a result of that, you have likely lost 50% of your potential customers. The solution to this is chatbots. They are not just appealing but also continue to engage visitors in order to make them customers.
For every organization, sales conversion is what matters in the case of sales and marketing. Companies using chatbots are witness a considerable hike in the quality of leads as well as in sales productivity.
For customers, it is always about the best and flawless experience. Even a small hiccup could ruin a sale opportunity. Over the years, the ‘demand for perfection’ has become one of the basic standards for every business. Chatbots are one such technology through which you can meet this demand. However, it can only be possible when your chatbot is perfectly trained or better say configured.
The future is built by taking the required steps in the present. Indeed, at present, chatbots are the best way to convert sales and marketing. However, in the near future and beyond, this AI technology will continue to transform the customer experience. The technology of chatbot development has received a lot of attention in recent times and now is here to stay.
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If you haven’t invested in this technology, then what are you waiting for? It is time to evaluate where you can begin implementing the technology within your organization. For that, you can consider taking professional help. Auxesis Infotech is one of the leading web development agencies. Along with the website and mobile design & development, they also have expertise in chatbot development.