Chatbots will become more commonplace in the future

The challenges in business are increasing day by day. Companies are adopting an innovative solution to stand out from the competition. In this mission, the evaluation of chatbot has become a valuable choice for business holders to handle and overcome various challenges.

Answering the queries of customers is the most important part of any business. It helps you in building trust among the customers. And, chatbots for businesses are supporting the companies to have more effective ways of communication than ever before.

Moreover, in this fast-moving world, advancement and innovation is a crucial element for gaining success.in the business. According to the survey, It has been predicted that the market size of chatbot will rise from USD 2.6 billion in 2019 to USD 9.4 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 29.7% during the forecast period.

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So, it will be correct to say, the chatbots will have great use in the future. Just like the earlier times, when human resources were being replaced by machines to remove the constraints of human limitations.

Apart from its future abilities and uses, let’s dive into the other basic information like What is Chatbot? How industries will use Chatbots For Businesses? What are the things I need to know about Chatbots?

What is Chatbot?

Chatbots are mainly a computer program from which we can perform real-time conversations. Its user-friendly chat interface allows businesses to carry easy communication with customers.

Now almost all popular messaging apps available in the market are using chatbots for the conversation. The AI technology used in the Chatbots allows the app to interpret the written and spoken text.

Most of the mobile apps or websites rely on chatbots to function as a communication tool. The bot takes the inputs from users and then after interpreting inputs provides relevant information to the user.

Chatbots are categorised into two forms

  • Command based chatbots
  • AI-based chatbots

The different forms of chatbots are built to perform different activities. Each of them is designed to support distinct functionality. So, selecting the right one is a tough task. For us, it becomes confusing what to select? Which bot will be suitable for our business?

So I thought it was high time to highlight the different categories of the bots present in the market. You will get a brief introduction to both the bots. And somewhere, it will help you in collecting potential leads for your business.

Command based chatbots

  • This form of bots works on a database of replies and heuristics. Here, the bots answer only a limited set of questions. They are not authorised to create new texts To answer a question, the chatbot has to understand it first.
  • Command based chatbots mainly implement a template search or dynamic search for understanding and answering questions. These chatbots become smarter with time, learning from past questions and answers.
  • Command based chatbots can give more reliable and grammatically correct answers but fail to respond to questions outside their knowledge base.

AI-based chatbots

  • On the other hand, AI chatbots can work outside a set of pre-programmed commands. It is capable of replying to questions inputs it receives. They are also authorised to make changes based on situations.
  • Even these categories of the bot can be used for sentiment analysis. With the help of AI-based bots, one can make predictions about what a visitor is looking for on your website.
  • Although, there are so many advantages of using this innovative technology in the business. Let’s have a deep insight into the benefits of using chatbots in the business.

Why does your business need a chatbot?

Here, I have discussed some of the useful points to have this automated computer program for your business.

#1 24*7 Customer Service

  • If you are running a business, it becomes important to be present 24*7 hours around the clock to serve the client. You can’t afford the loss of customers’ interest due to any type of non-systemic workflow.
  • Think a while, what will happen when any customer reaches your website and there is no one to answer their queries. They will go for some other. So, to avoid such a thing, many companies are using Chatbots to give an instant response to customer queries.
  • Chatbots are very useful for both small as well as large organisations. It ensures your business remains open 24*7 hours. It can do more than just answer your customer’s questions. It can make reservations, ask about the menu, and give a plethora of different details about your business.

#2 Beat the competitors

  • For any business, competition acts as a barrier to establish a good position in the market. You need to fight with the competitors to make your way. Here, fighting does not mean you have to do one to one.
  • Your business can attract customers if you serve unique, innovative, and remarkable services to the client. So it’s important to be active in all areas you deal with.
  • When a customer reaches your brand, having some queries, make it possible to offer an instant solution. Because no one is there who can wait for the answers.
  • As it is possible in a day or an hour you get lots of queries from different customers. So for a company to hire humans to answer these questions is a costly choice. Also, it is tough for a single human to handle all activities in one go.
  • To overcome this problem Chatbots, can help you in providing instant answer queries. Offering instant answers will build trust among your current and potential customers.

#3 Scale Up Your Business

Do you know with chatbots you can handle many customers at a time?

  • As software offers automated solutions, there is no limitation in answering different questions at a time. Your work becomes much faster than ever before. This is a reason why most companies prefer chatbots over human agents.
  • Also, you can use this type of automated bots to handle customer chats and calls. And, on the other hand, you need to hire human resources to monitor other activities. This solution has proven itself in the scaling of the business.
  • Apart from this, bots not only explain a particular product but also give recommendations based on prior queries from the user.
  • Nowadays, most people prefer chatting over other ways of communication. This is one of the reasons why messaging apps has become so popular over the past few years. So, opting for the bot to provide live chat support can scale up your business.
  • The engaging power of bots is more than the human agent. You can easily greet customers whenever an individual reaches your website.

The Impact of Chatbots Deployment in the Messenger Applications

Most of the companies offer dedicated mobile apps to communicate with customers, which is not a successful idea. Because it becomes more costly to develop a mobile app than just deploying the chatbot in a messenger application. Also, the majority of people do not prefer to download such apps. To overcome this problem, companies have started implementing chatbot facilities on messengers app that leads to less expensive options.

In this digital era, chatbots are like a blessing for the business holders. Because of this innovative computer program, they are able to offer customised solutions to their customers. Chatbot management services are more effective in engaging customers who come in for your company’s products and services.

It has been predicted that the chatbots will contribute 85 percent of all customer service interactions by the year 2020.

Wrapping Up

I hope this blog helps you in finding the solution to why you need Chatbot for your business? If you are among the companies that want to improve customer satisfaction, then chatbots are the best solution.

Chatbots help companies to create a strong customer base. You can ask for help from a chatbot development company in India to make it implement on your website. This is why you should hire PixelCrayons experts for deploying a chatbot for your business.

Author Bio

I’m Shefali Basu and I am a Sr. tech-consultant and writer working for PixelCrayons which is a leading app & software development company in India. I love to write about all the latest technologies.