Top Chatbot Stats and Trends to Watch in 2021
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Chatbots have become more than just a fad. Businesses are introducing chatbots to streamline their various processes. From reducing customer response time (CRT) to generating leads, chatbots are making every task seamless for industries. Chatbots are slowly becoming a necessity for businesses of every domain.
Why Chatbots are Need of Future?
Here are a few major reasons why you need chatbot for your small business.
- Save Time and Money
- Simple Interface
- Cheap and Easy
- Influence Decisions
- Instant Customer Service
- Simplify Sales
- Social Media Integration
- Increase Engagement
- Streamline Payments
- Answer Questions
- Generate Leads
- Enhanced Team Productivity
- Higher Customer Satisfaction
- Reduced Human Error
Chatbots help businesses save their time and effort. They are one of the more affordable means of delivering better customer experience. They help you automate the repetitive tasks and spare some time for your busy employees to focus on other critical tasks.
Using chatbots is easy for customers. They don’t even have to open or search for the chatbots on your business website. As soon as they visit your website, chatbots ask if they need help proactively. All they need to do is provide the required information for the chatbot to understand their issue.
Integrating a chatbot into your business is way cheaper than hiring a team of customer support executives. You can create well-programmed and affordable chatbots easily by using various online chatbot builders.
Chatbots help businesses reduce customer service costs. You can invest in chatbots other than spending extra money in adding more employees and save on the extra money to be spent in giving salaries, providing training, or renovating infrastructure.
It is difficult for businesses to follow up with every user and ask them if their issue has been fixed. This is where chatbots come into the picture. Chatbots assist users with their issues and recommend the products and offers based on user preferences. They automate the repetitive tasks of your support team and offer dynamic full-time support to your customers.
Chatbots operate with a defined set of parameters and rules. They use a chat-based interface to interact with the customers. You can program your chatbots to understand what the customer says with the help of certain keywords. Chatbots help you in responding to user queries instantly and addressing their issues as fast as possible.
Read the post – ‘How a Chatbot Can Reduce Customer Service Response Time’ to have a better understanding of this benefit.
Chatbots can help you enhance your customer service system and drive more sales. You can use chatbots for multiple purposes based on your business and product nature. Chatbots have a smart learning capacity that you can use to increase your sales by providing users product advice based on their online activities.
Additionally, chatbots help businesses streamline the sales process from start to finish. You can use a bot to drive more sales on both ends of the equation, for your business and the customers.
You can also use chatbots to increase your social media engagement. You can target a huge audience on social media platforms. The chatbots integrated into your social media pages can help you boost user engagement and interaction with your brand.
Chatbots enables businesses to increase their user engagement. They not only help them in improving customer service but also boost sales. They correlate the enhanced customer engagement with the social media platform and help businesses target a new group of audience in their social media business profiles.
Some chatbots act like an efficient payment system for businesses. Using these chatbots, users can make payments for their purchases without even leaving the chat interface. These bots help your customers shop and order the selected products in just a few clicks.
Using chatbots is one of the easiest ways for small businesses to remain available for their customers all the time and answer their questions instantly. To enable your chatbot to answer all your users’ queries correctly, you can load it with your product-based knowledgebase articles and FAQs.
Small businesses can also use chatbots to generate leads. When chatbots interact with your customers, they analyze the customers’ behavior and store their details in the database. This way, even the details of your website visitors who accessed your website and asked a few regular questions to your chatbot will be stored in the database. You can try contacting these users later when you have some attractive discount offers.
Most customer interactions are being handled using chatbots. You do not need chatbots to replace human agents but to empower your business to provide the primary support. Chatbots filter the customers’ requests and concerns before forwarding them to a live agent for further assistance. This way, other than humans, you get chatbots too in your customer support team that helps enhance its productivity.
Businesses with human agents can’t initiate periodic communication with all their customers. However, with the help of chatbots, you can reach out to all your customers at the same time using personalized messages and inform them about your new products or the recent product updates. This helps you in boosting your sales and retaining your customers.
Chatbots help businesses cut down human error. With manual work, you always have the risk of mistakes that can ultimately create problems for you. Using chatbots is one of the best ways to provide your customers with an error-free service to avoid complications. Chatbots when work, guarantee accuracy.
Chatbots can be the best way of handling conversations when you decide to ramp-up your business. Unlike humans, chatbots can handle multiple conversations at a time and that too with no delay. Whether a chatbot is dealing with two, three, or hundreds of chats, every user at the other end of the chat will get an instant response.
All the above-mentioned activities of the Chatbots help businesses reduce the workload of the support team. As a result, they start performing better and get time to focus on more critical issues.
In 1966, when ELIZA (the first chatbot) was developed, it was okay to not discuss about progress of chatbots. However, in the present dynamic era, ignoring the chatbot stats and trends might cost your business heavily. So, to keep you in pace with the latest technology advancements and expected chatbot trends, we are presenting this crisp blog for your understanding.
Top Chatbot Stats and Trends to Watch in 2021
- Features Related Chatbot Trends
With the advancement of AI-based technology, Natural Language Processing (NLP), Internet of Things (IoT), and other related tools, chatbots are expected to become more advance in 2021.
Some of the features-related chatbot trends that must be looked upon are as follows.
- In 2021, the chatbots would certainly be more humanized. As per many developers, chatbots will be able to interpret requests and responses of users better in the coming few years than in previous years. AI will be helping chatbots to better understand and interpret human requests. Also, businesses are planning to utilize the power of visual expressions (GIFs, emojis, stickers, etc.) in their chatbots for humanizing it.
Thus, in 2021, it would be interesting to watch chatbots turning more into a human!
- Chatbots would probably gain more conversational intelligence. It has been predicted that by the end of 2022 chatbots will be able to engage more users with their better conversation flow. Businesses are expected to introduce the natural language, proper tone, and expression in their chatbots to engage maximum visitors on their website.
Thus, in 2021, you can’t miss observing chatbots getting better with their language and flow.
- Chatbots would be adopting multiple languages. In this era of globalization, if your chatbot understands only one language, it won’t be enough for businesses to grow. So, the trend of multilingual chatbots will definitely be there to look upon in 2021. This trend started by Facebook and WhatsApp bots will soon be growing in upcoming years. Chatbots would certainly be understanding different accents and cultural meanings of different languages to serve customers worldwide.
Thus, stats and trends related to multilingual chatbots will be worth exploring in 2021.
Applications Related Chatbot Trends
Chatbots are not limited to perform any specific function. They can be created and integrated as per your different business requirements. As we mentioned earlier, from supporting customers to generating leads, they can support your business in multiple paradigms.
Let’s have a look at some applications-related chatbot market trends.
- Market research plays an important role in the growth of any business. Without understanding the market properly, no business can move ahead. Chatbots can prove to be a powerful tool for conducting surveys, engaging with a target audience, and getting information related to the potential market. In short, bots can be specially designed to cater to the market research needs of any business.
In 2021, major changes are expected to take place in every market. So, it would be interesting to watch how businesses are utilizing marketing chatbots.
- Lead generation has never been an easy task for any business. With the advent of lead generation chatbots, targeting the right audience and converting them into leads has certainly become less challenging. Chatbots have already proved their potential of converting the casual website visitors to loyal customers.
Then, what would be jaw-dropping to watch in 2021? It will surely be exciting to notice the trends of how lead generation bots are taking businesses to all-new levels.
- Customer support is one of the major domains of any business that needs to be handled with the utmost care. To assure continuous growth, every business owner tries to assure that each customer has a seamless experience with their brand. Today, chatbots are helping businesses establish a direct connection with customers, quickly interpreting their queries and resolving them in a few minutes. To make these customer support bots more efficient, many businesses are integrating various technologies with chatbots.
So, in 2021, it would be enthralling to see the chatbot industry trends related to customer support bots(that would be certainly be driven by a combination of technologies).
Industries Related Chatbot Trends
Chatbots are disrupting in every other industry. As per various research and predictions, 80% of businesses will adopt chatbots by the end of 2024. From health to education, real estate to entertainment, various industries are introducing chatbots in their domains.
Some of the striking chatbot industry trends that must be looked upon in 2021 are as follows.
- Healthcare Industry has always been under unbearable pressure, lack of human resources, and short of funds. Since the advent of healthcare chatbots, the industry is providing better clinical care, improving the patient’s experience, and saving many billions. Healthcare bots are helping health professionals to provide 24/7 service, on-time first aid, and timely medical advice.
To share the load efficiently, the healthcare industry is improvising chatbots day-by-day. They are trying different combinations of technologies with chatbots. So, not only in 2021 but for never-ending decades, it will be exciting to see the progress, trends, and statistics of healthcare chatbots.
- Financial Institutions like central and state banks, insurance companies, etc. can’t bear even the minor errors in their daily tasks. Maintaining day-to-day administration and simultaneously handling customers’ queries are the major challenges of this industry. However, with the advent of AI-powered chatbots, financial institutions are getting sigh relief. With specific chatbots, they are managing customers, assisting people in case of suspicious activities, providing required insights, and many more things efficiently.
In 2021, it would be enticing to look upon how chatbots are handling major cybersecurity threats, privacy issues, forgery problems, etc., and related trends in financial institutions.
- Real Estate Businesses are not only about constructing the brick-and-mortar structure. It is also about scheduling meetings with buyers, tempting potential buyers with virtual tours of the property, exchanging legal documents, and much more. Considering the extensiveness of the business, many real estate businesses started introducing chatbots in recent years. Bots are specifically meant for real estate businesses helping owners in handling inquiries in real-time, generating leads, providing assistance related to loan and finance, and managing their time efficiently.
Chatbots have huge potential to turn the real estate businesses upside down. In coming years and specifically in 2021 when the real estate industry is facing hard times, it would be interesting to keep the track of chatbot statistics and trends.
As the new year had already started and the pandemic is about to get over, you must gear up your business with new technologies and be fully prepared to handle your customers. Make sure that you won’t lack behind your competitors and introduce trendy tech tools to your business as soon as possible.
In case you want to create and integrate a chatbot to your business website, we recommend you try Appy Pie’s Chatbot Builder. It is a no-code platform that can help you in making your own chatbot within few clicks. This software is already equipped with various advanced features; you just need to sign in and follow a few easy steps to create your bot.
Following our tradition to keep you update with chatbot future trends, this year also we come up with a detailed blog. Hope you enjoyed reading and will keep up with the pace of chatbot advancements.
Happy New Year!