Chatbots: Gaining competitive advantage

Chatbots are changing businesses and the way we communicate has changed. Chatbots are one of the hottest topics in the tech world today. Businesses incorporate chatbots in a way that effectively enhances customer-company relationships. chatbots serve as an additional channel of communication with customers and automation tool.

Chatbots are the bots that use chat to receive, understand and respond to customer queries. This software uses text or voice interface to interact with users. As a result, chat-like interaction originates conversational user experience, or conversational UX (user experience) in short. Chatbots offer customers with a more personal experience with the brand and make clients feel catered for and enhance their trust in the company.

Chatbots contact users via world-known messengers, e-mail agents, SMS, and can be embedded into an existing web page, platform, system, or app. Some chatbots are rule-based. They rely on a set of rules to determine how to understand queries and use scripts to respond to them. AI bots, on the contrary, are less limited by pre-designed conversational flows and use machine learning to perform cognitive functions. Both types of bots can be sophisticated and smart depending on the effort and skills that a chatbot developer puts inside.

Communicating with a chatbot can give the client the feeling that they have their own account manager, even if the size of their business does not justify such an expense. Once the customer is logged-in, the chatbot can access all the background information available for the particular client and serve them with tailor-made answers.

Chatbots can also understand language almost as well as regular service representatives and formulate answers that even incorporate a personality. Since most people do not spend time thinking about the fact that they are interacting with a machine, it can actually create a good impression and increase their appreciation for the company.

Chatbots easily integrate with third-party systems, including AI engines and databases, handle user input and able to memorise and process input data for self-learning

In a globalized world that never sleeps, instant and continuous service can serve as a competitive advantage. Clients are looking for flexible solutions, and sometimes their needs arrive outside regular business hours. A chatbot is a perfect solution for simple answers on the go.

A chatbot can be trained in a couple of hours or days. The efficiency of chatbots helps in reduced costs. Since the chatbots can replace a lot of low-level features, employees are able to focus on higher level tasks which are also better paid, so the fear of job or money loss doesn't arise.

Lastly, chatbots can be an excellent addition to a business strategy, build a healthy relationship between clients and the company. It also increases efficiency while keeping costs under control. They perform various functions and free customers from the need to learn new interfaces or download new apps.

Source: HOB

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