Modern technology is evolving faster than ever. Driven in large part by a phenomenon known as the Internet of Things (IoT), we are now going through the 4th industrial revolution, aptly known as Industry 4.0.
In short, the Internet of Things is nothing more than a network comprised of digital devices, appliances, machines, and vehicles that have all sorts of embedded software and sensors that allow them to communicate with each other. And if in 2017, there were roughly 8.4 billion such devices, that number is expected to reach 30 billion by 2020, with a market value somewhere around $7.1 trillion.
But for all of the disruption that IoT brings in our professional lives, it also creates a business environment where smaller companies can now compete with their larger counterparts. And even though, chatbots are not technically physical devices, they are, however, a piece of technology that can, at least in part, bridge the gap between smaller and bigger companies, regarding resources.
What’s a Chatbot?
Chatbots have been around for several decades, now. One form of relatively early chatbot technology was that lady voice guiding you every time you called an 800 number. Today, however, chatbots have become much more advanced, making use of some high-tech artificial intelligence (AI). It gives them the ability to converse with people like never before.
But what truly sets chatbots apart these days is their versatility. They excel in areas of top-of-the-funnel advertising such as customer service and customer interaction. Here are seven ways that chatbots can benefit your marketing strategies.
There is no denying that most businesses, big and small, have terrible customer service. It has happened to each of us having to wait for half an hour or more before a customer service representative will pick up the phone to talk with us.
For better or worse, it is how this sort of customer service looked like before the introduction of these smart chatbots. So, instead of having to wait for half an hour before you manage to ask someone a simple question, a chatbot will answer it almost instantaneously. By providing this simple option to your customers, you are sure to keep them happy by not becoming impatient with slow customer service.
Communicating with Website Visitors
It shouldn’t come as a surprise that when potential customers visit your website for the first time, they have plenty of questions about your products and services. If they weren’t able to find it, people would usually leave your website, never to return. It is where a chatbot comes in handy.
With various apps such as Whatsapp being so popular nowadays, nearly half of consumers prefer live chat and messaging over email and phone. What’s more, 83% of online shoppers need support to complete a purchase.
A chatbot helps your customers navigate your website, understand your product, or complete a purchase. A chatbot is an easy way of creating the necessary messaging environment to make them happen, without you having to devote an entire team of sales reps to do it.
Another way to use chatbots is to analyze customer data to optimize sales as well as for various marketing strategies. In other words, chatbots can program in such a way to track purchasing patterns and monitor data coming in from customers. With this information, you can market your products differently, know which require more marketing, or what needs redevelopment. It means that you will be able to save money by not having to hire another analyst.
Qualify Your Leads
Lead management is often a headache. Your leads usually require tons of nurturing, and even though it will provide you with results, sooner or later, it is, nevertheless, a tiring process that requires ample time and resources.
With the information collected from clients, chatbots can create customized messaging that will guide them through their buyer’s journey, making sure that they head in the right direction to ensure a high conversion rate.
Better Social Media Engagement
A while ago, Facebook announced that it was introducing chatbots into Messenger. Since then, marketers have been all about bots on social media, and for a good reason. Not only can they help your brand in achieving better sales, but it’s also an excellent way to boost your social media engagement. By using a chatbot on Facebook, you’ll have a better chance at attracting users to your landing page.
There’s no denying the fact that using a chatbot to order something is one thing while making sure that customers are paying for them, is another. By employing bot-driven payment options, both can be easily achieved with a simple touch of a button.
Not so long ago, the social media platform, Snapchat, has introduced Snapcash, a sort of virtual wallet that can store a user’s card details and allows them to send money to both friends and companies with a simple message.
Bill Gates once said that “we all need people who will give us feedback. That’s how we improve,” highlighting the importance of feedback and what can it do for a business. But like with many other such things, gathering feedback from clients is no easy thing, and it’s quite a time-consuming process.
Luckily, however, chatbots are great for reaching out to your customers and ask them simple questions. Chatbot-gathered feedback is especially useful for your website and its optimization. By making use of this feedback, you will be able to fix any, and all low converting pages and improve your overall website performance.
For instance, if you notice a landing page with a large number of organic visitors but with very few purchases, you can have your chatbot reach out to these potential customers and ask them why they are leaving the page without making a purchase.
This list presented here is by no means exhaustive, as there are other ways that chatbots can help you with your marketing strategy. And as developers are continuing to push the concept of chatbots even further, we can only expect other uses for them soon.
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