The statistics show that the global market revenue currently generated by AI is well over $354 billion, and this number is expected to rise to a whopping $3061 billion in 2024. This shows that marketers must not ignore inclusion of AI.
Many sides of digital marketing, such as content marketing, social media marketing, Search Engine Optimization, and others, have been transformed with the help of AI. A chatbot is a part of AI, and it plays a vital part in a company's overall marketing strategy. You may have encountered chatbots on several websites.
There were problems with dumb chatbots, but it has improved significantly since then. Huge corporations like Facebook, Apple Inc., and Google are now using chatbots for various purposes.
In this article, we will reveal why chatbots are so crucial for marketing and how chatbots can help in taking your marketing strategy to the next level.
Revolutionizing the marketing strategy with chatbots:
Most people think a chatbot is a simple AI program that responds to the people who send a message. However, it’s way more than that. Chatbots in today’s world are very sophisticated. Do you think that the technology giants spent a huge amount of money to make a program that responds to your queries in a programmed manner?
After reading this article, you will realize how awesome chatbots can be and how chatbots can transform your business in various ways.
Since chatbots can engage with your customers, answer their queries instantly, and provide tailored responses to them, every business should build a credible chatbot that enhances their customer service. Chatbots can prove to be truly transformational for your business, and it is time to develop one for your business needs.
Here are some of the ways in which installing chatbots can help significantly enhance your marketing strategy.
1. Customer service
This should be no surprise to any, as chatbots completely enhance customer engagement, but have you understood how much impact it can make on customer service?
For instance, let’s take an example of a person wanting to know about a simple thing that would only take 5-10 seconds for a customer service agent to answer. Won’t he feel frustrated if the phone line is busy or there is a long waiting list? There could be numerous people who could experience a similar case, which can greatly hamper the company’s business.
The younger generation is even more impatient regarding this matter. They are used to getting instant services, such as instant banking, instant shopping, and so on. This makes them switch to a new alternative if the customer service fails to satisfy them.
This is where chatbots can assist the company in making its customers happy. A customer just has to message the chatbot, which can answer that specific customer instantly. Not only that, the interaction with customers can be made more proactive with the help of chatbots.
The chatbots can help the customers to solve their little problems without the help of human beings. They can greet customers and inquire with customers if they require something while the customers are waiting, which help in developing bonds with customers.
Chatbots can personalize the conversation and deliver a personalized experience tailored to their needs. They can also give high-value customers quick and red-carpet treatment. Moreover, chatbots help deal with high-volume needs. They provide instant, 24 / 7 support and automatically deal with high-level issues by unburdening your customer support team.
2. Consumer analysis
Most of you might be already aware of the points I made above, but I believe only a very few of you might know about chatbots helping in consumer analysis. It could be strange to hear, but it’s possible with chatbots.
Chatbots have been highly advanced and versatile applications, delivering several benefits to businesses. They are beneficial in many ways, such as helping companies to find useful customer insights. For example, companies can analyze customer conversations, understand the intent of returning customers and develop customer profiles. With these real-time insights, improving the quality of service and tackling customer pain points is possible.
Chatbots can analyze consumer data, optimize sales, and redesign marketing strategies. The Forbes magazine has published an article explaining how chatbots can be programmed to track purchasing patterns and monitor data.
This means that the companies do not need to hire as many analysts as they used to hire in the past. Furthermore, the analytical reports generated by a chatbot are likely to be far more accurate than the analytical reports generated by a human being.
The analytical report generated by chatbots can also help influencers conduct an influencer marketing campaign more effectively.
3. Maintaining a presence in a messenger
A normal human being cannot work all the time. He/she needs time to take rest, relax, and do other activities. However, it is not the case with machines. They can continually provide service without interruption, 24/7.
Mobile messaging apps can help businesses maintain an online presence all the time to serve customers. A case study was done on messaging apps. According to Adweek’s Tomanchek, the usage of messaging apps has increased, and the installation and retention rate of the messaging apps have also increased compared to the past.
4. One-stop shopping potential
The shopping can be made much easier for your customers with the help of chatbots. A marketer can offer a keyboard or voice-activated chatbot system that allows customers to shop instantly. Customers can ask specific questions, and they can get instant replies to their queries with plenty of product recommendations with the help of chatbots.
Furthermore, the chatbot can provide additional product recommendations to the customers if they are not satisfied with the product recommendations previously offered by the chatbots.
By offering this service, you can significantly increase the chance of making a sale because the customers are more likely to purchase the product if provided with plenty of top-quality product recommendations.
5. Chatbots never stop improving
There is a pace at which a human being improves, depending on various factors, such as passion, willingness to learn, knowledge acquired, experience, and so on. Unlike human beings, chatbots have the power to improve very quickly, as it is powered by artificial intelligence.
As artificial intelligence technology is exposed to new experiences, it will learn new things and improve itself. With an improved version of chatbots, we can get better analytical reports, interactions, and data via installed chatbots. The report generated by Grand View Research has predicted that the global chatbots market could increase to $1.23 billion by 2025. It’s happening because the chatbot is consistently improving, and technology giants consistently emphasize improving chatbots.
6. Site Feedback
It’s a hectic task for a human being to reach out to their subscribers and gather feedback. With the help of chatbots, this task can be easily carried out via simple questions, which immensely help improve the website.
Taking note of their feedback and following their suggestions may help improve the low converting pages and enhance site performance.
Receiving feedback is one thing; acting on it is a different ball game altogether. But do act and let your customers know that you have listened to them and taken their advice.
Putting up something like, ‘we have listened to you, and so we made this change’, makes your customers feel like they are a part of your business process. And a feedback mechanism also helps your employees participate proactively in your business. Positive feedback can encourage them to continue the good work, while negative feedback can help you identify the glitches in the process.
Imagine a situation in which a landing page gets a very high number of visitors, but there is no conversion at all. Getting some valuable feedback can help the site owner improve the lead page and increase the chance of conversion.
7. Personalized Ads
The creation of personalized ads is one of the most successful chatbot strategies. The process of creating customized ads is not so complicated. The customer interacts with the chatbot, and the chatbot gathers some crucial information from that specific customer.
After collecting the name and other crucial information from that customer, the chatbot utilizes that information to generate personalized ads, which leads to a better sales conversion.
An important point must be in your head before totally relying on chatbots. Chatbots are a great asset to a company, especially for marketers. However, there are instances where the chatbots respond dumbly, which appears quite unreal. This can piss customers off.
And these chatbots will not only lead to fewer sales, but they can also damage the overall reputation of the company.
Conclusion:
Artificial intelligence is already impacting the world in many ways even though AI is still in its starting phase. Marketers can get an edge over competitors with the help of AI in today’s world, and it’s very much likely that the knowledge of AI would be a basic requirement for marketers to perform their day-to-day activities.
The study shows that AI has already replaced 16% of American jobs. It’s not that AI will completely eradicate human jobs, but it can be said that AI can completely transform the nature of jobs that will be performed in the future. Modern humans should learn and get used to various AI-related things.
Now that you are aware of how chatbots can impact your marketing strategy, it’s recommended that you waste no time adding chatbots to your marketing strategies. However, it’s also recommended that you conduct some research on chatbots before installing them. Consult with professionals and develop a concrete marketing strategy that includes various aspects of AI. Just install intelligent chatbots in your system and experience the transformation for yourself.
Stevan Mcgrath is a digital marketing professional who possess expertise in brand design and development. Stevan is passionate about utilizing his diverse skill sets for new and innovative online marketing strategies. He has worked as a freelancer and a contributor to Provenseo. Despite having a wide influential reach, he seeks client satisfaction as his topmost priority. He also writes blog posts on recent digital marketing trends. To know his work and more details you can follow him on facebook, twitter, LinkedIn, Google+.
