Ever since chatbots have been rolled out they continue to steal the limelight. The rising trend of chatbots has made it necessary for businesses to invest in this trend. It has been expected that more than 80% of companies will deploy chatbots to enhance customer experiences. Chatbots development has shifted gradually from answering the simple user-based queries to advanced predictive real-time conversations. There’s a lot being done and served, yet more to come!
Chatbots market is expected to grow more than $1.2 billion globally in the coming years. They have now become more AI-driven and are taking over the traditional conversations making it more ‘Real.’ Chatbots are now capable of helping a number of business areas including – payments, processing, and marketing. Chatbots is a prominent trend and if you want to take your business to the next level, then keeping up the latest trends is essential. Let’s discuss details about the chatbots trends in the year 2020.
Chatbot Trends That Will Upgrade Your Business Game
1. AI-Driven Chatbots
A personalized touch can win your customer’s heart! The AI-powered chatbots are now capable of giving a personalized experience to the customers. We all know the US has always stayed ahead of times and the perfect example of AI-powered chatbots is Bank of America.
The powerful chatbot used by the bank is capable of handling even the complex banking procedures in seconds making a more seamless customer experience. It can help to check account balances, make payments, save money, and guide you on various related topics.
One great thing about the chatbots is they are really particular with their responses. They can analyze past and current data to anticipate what customers need. These can be used to automate processes, live chats, documentation, and even educate customers. Chatbots can help keep your audiences engaged and informed without much effort!
2. Human-Like Chatbots
Many people skip the idea of conversing with the chatbots simply because they think they are just robots. Although it’s true, businesses can still add a human touch and make them more realistic for the audiences. The coming year will see a lot of revolution in chatbot technology.
The AI-driven chatbots will become more human-like and help to understand the intent of customers behind the chats. This helps the customers to stay connected with the brand. Example – Domino’s is using chatbots technology to help people place better orders and enjoy a delightful eating experience.
Businesses should focus more on delivering a personalized experience and better support to their audiences. Not just that tailored customer experience will keep your audience interested in your brand and boost customer loyalty. Human-like chatbots will leave a positive and lasting impression on your audiences and keep the customer base satisfied.
3. Voice Bots
Voice chatbots are the next big thing! There are nearly 112 million monthly users using voice assistants. The figures make technology worth considering! A recent study revealed that there will be more than 50% of the searches voice-based.
Big industry giants like – Google and Amazon are making full use of technology and have already made a market of millions of users. These voice assistants both voice and text-based interfaces, this is the reason why it has become one of the most preferred methods of consumer engagement.
According to the latest predictions, the number of voice assistants will triple by 2023. The major reason for the popularity of voice bots is they are automated and they are more engaging than the monotonous texts. The voice bots provide real-time search results that cover real data insights. Nowadays, voice bots have become personalized thus making the customer’s interaction more reliable and seamless.
4. Social Media Chatbots
Social media is the mainstream platform for business promotions. It has now moved to just making new friends and has opened new horizons for businesses. Many social media leaders like Facebook and Whatsapp are utilizing chatbots technology to the fullest and generating a lot of revenue. Whatsapp acquires more than 1.2 billion monthly users and Facebook stands at more than $2 million monthly users.
As the usage of social media keeps on increasing, businesses need to focus on creating long-term relationships with their audiences. Facebook has now become a trendsetter in chatbots and you can too become one. By incorporating chatbots on your social media platforms will enable the users to understand the audiences in a better way and promote your brand in an engaging way.
5. Automate Payments Using Chatbots
Smart payments are a big yes! There are several companies that have already incorporated automatic payments. The future of chatbots will witness direct payment features over the live chats.
We all love easy things and automatic payments will enhance customer satisfaction and keep them happy. In 2020, we will see apps integrated with payment services like – PayPal and other digital wallets that allow the users to make payments without leaving the messaging platform.
The best part of using chatbots for payments is it not only allows users to pay without leaving the platform but also helps them make choices about the products. The chatbots trigger automatic payments and enhance user experience. MasterCard also launched the chatbot for customer payments. It allows users to make payments, set payment alerts, and assist with future payments. A lot in a box, isn’t it?
Final Thoughts
Chatbots are definitely going to be the mainstream of various businesses and consumer applications. Automation is the fuel of making the business stronger and handling the challenges faced by the chatbots. The chatbots were launched with the idea of providing customer support, thereby reducing the human burden. Today, chatbots are hitting several business industries making them more seamless.
The big players like – Facebook, Amazon, and more are already on the road to creating a fluid customer experience and keep them engaged with your brand. Take a note from these chatbot trends for the year 2020 and alter your business strategies accordingly.
We all know how challenging the year has been for several business industries due to the COVID19 pandemic. Let’s make your business better with technology. It’s time to create a significant impact on your audiences and make them fall in love with your brand.
