Artificial Intelligence Archives - BotCore Enterprise Chatbot Fri, 15 Mar 2024 09:38:14 +0000 en-US hourly 1 https://wordpress.org/?v=6.6.1 https://botcore.ai/wp-content/uploads/2020/02/cropped-favicon-32x32-1-70x70.png Artificial Intelligence Archives - BotCore 32 32 Power Virtual Agents & Power Automate – Truly Powerful! https://botcore.ai/blog/power-virtual-agents-power-automate/ Wed, 23 Nov 2022 13:09:00 +0000 https://botcore.ai/?p=5917 Power Virtual Agents & Power Automate – Truly Powerful! Introduction Power Virtual Agents (PVA) and Power Automate (PA), formerly called Flows, are Microsoft’s latest AI innovations and a part of their Power Platform. Enterprises can use these tools separately to solve unique challenges but can also integrate and leverage them together to accomplish a common […]

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Power Virtual Agents & Power Automate – Truly Powerful!

Introduction

Power Virtual Agents (PVA) and Power Automate (PA), formerly called Flows, are Microsoft’s latest AI innovations and a part of their Power Platform. Enterprises can use these tools separately to solve unique challenges but can also integrate and leverage them together to accomplish a common goal. In this article, we explore the different capabilities of these technologies and how they can be more powerful when integrated with each other!

Understanding Power Virtual Agents

PVA is a low-code chatbot building tool with which you can build and deploy chatbots in the shortest time possible. This democratises the technology to non-technical users and reduces the dependency on IT expertise.

Using PVA, powerful chatbots can be built using a guided, no-code graphical interface that can be deployed for sales, HR, finance, customer service and virtually on all channels where customers need to be engaged. Bot Framework and Azure Bot Service and Cognitive Services provide the technological foundation for Power Virtual Agents.

A power business user can go from zero to a working bot in a matter of minutes! IT experts with extensive knowledge in the development of chatbots can also code on PVA for additional customization.

You don’t have to retrain AI models – just provide the bot with a few examples of the conversation topic, use the graphic editor to build conversations and your bot will be ready to perform tasks and take requests! PVA also provides a test pane with which you can play around with changes in real-time.

PVA provides the end-to-end experience of bot development, from the creation of the dialog to deploying it on online platforms like Slack, Teams, Facebook Messenger and MS Teams among many others.

PVA can also be integrated with several other apps including but not limited to, Office 365, Dynamics 365, Salesforce, ServiceNow, OneDrive to gather information from these systems. PVA also provides AI-driven dashboards with which you can track and improve your chatbot’s performance.

Learn More: Why Are We Excited About Power Virtual Agents?

Understanding Power Automate

Power Automate is a low code AI-based solution that allows users to build time-saving workflows for various systems and processes with seamless integration using hundreds of prebuilt connectors. UI flows, the new feature in PA provides Robotic Process Automation (RPA) capabilities that can automate repetitive tasks in Windows and web applications.

Power Automate can currently connect to more than 275 apps and services. With Power Automate, you can automate diverse rules-based tasks like handling data entry, performing calculations, handling queries  and back-office operations in HR, Finance and accounting. Power Automate offers the low/no code experience of creating automations with point-and-click operations. PA can not only automate tasks across APIs, SAS platforms, databases but also do UI-based recording on Windows desktop and have that run in your automation workflow.  

Power Automate’s UI Flows feature or Power Automate RPA helps you integrate business apps with each other and create automated workflows with an intuitive, no-code interface. The tool provides both attended RPA and unattended RPA and enables you to focus on more high-value work by automating boring, repetitive tasks like front-office activities.

To better understand Power Automate, let’s take the example of an insurance claims processing company where clients fill out digital and paper forms and send emails to communicate. The claim usually gets processed on the cloud but employees also have to maintain paper records and legacy apps. This entire process could be automated by Power Automate: AI can process the digitized data in scanned paper forms and RPA can process legacy systems.

Integrating Power Virtual Agents With Power Automate

Trigger bots to take action!

Chatbots can have conversations with your employees and answer their queries. This is great. But what’s truly powerful is enabling chatbots to act on users’ behalf. Integrating chatbots with back-end and legacy systems is now made easier with Power Virtual Agents  – you can do it either out-of-the-box or using custom connectors available on Power Automate.

Integration  with legacy enterprise systems which lack modern APIs was a huge challenge for many organizations that are excited to deploy chatbots.

But with the launch of Power Automate this is solved.

The RPA capabilities of Power Automate enable it to create a flow between your Power Virtual Agent and your backend systems. You can design flows where based on a user’s request, the chatbot can trigger an action in the needed backend application.

Learn More: Add actions to a bot using Power Automate

This combination of PVA and PA can solve several common problems enterprises are facing today.

It helps organizations to meet the rising customer and employee expectations at lower costs by combining the automation capabilities of RPA and the self-service features of a chatbot.  This also results in increased agent productivity as agents don’t have to spend time on mundane and routine activities like gathering customer data, copying information, completing paperwork, etc.

Some key benefits include:

  • Improved employee and customer experience
  • Reduce business costs
  • Reduced time to complete tasks
  • Increased employee productivity
  • Increased competitive advantage

Power Virtual Agents and Power Automate synergistically produce an end-to-end automation that can automatically perform complex operations through natural language commands .

Conclusion

Through PVA and PA, Microsoft has democratised the technology to produce virtual agents and intelligent workflows to professional developers and citizen developers alike.  A Power Virtual Agent provides a platform to build enterprise chatbots with minimal coding. Power Automate is a multifaceted RPA platform  to automate enterprise-wide repetitive, rules-based tasks. These applications have a simple to use user drag and drop and point-click interface.

PA and PVA complement each others’ functionality. By integrating PVA and PA, you can enable end-to-end automation of processes, streamline workflows, improve agent productivity, improve ROI from your legacy systems and more!

As a Microsoft Gold Partner, Acuvate helps enterprises in the effective implementation and adoption of the Power Platform.

If you’d like to learn more about this topic please feel free to get in touch with one of our Microsoft and AI experts for a personalized consultation.

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Conversational Commerce in various Social Channels https://botcore.ai/blog/conversational-commerce-in-social-channels/ Wed, 06 Jul 2022 12:17:59 +0000 https://botcore.ai/?p=10409 Conversational Commerce in various Social Channels We live in an era where artificial intelligence (AI) has taken over every aspect of our being. And customer experience (CX) is not alien to it. As the world embraces new-age customer experiences (CX) with open hands, warranting the delivery of hyper-personalized customer engagement to a more informed, connected, […]

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Conversational Commerce in various Social Channels

We live in an era where artificial intelligence (AI) has taken over every aspect of our being. And customer experience (CX) is not alien to it.

As the world embraces new-age customer experiences (CX) with open hands, warranting the delivery of hyper-personalized customer engagement to a more informed, connected, and empowered customer, organizations are left to deal with several questions and dilemmas.

After all, endless customer conversations are happening online on various social channels — Facebook, Instagram, WhatsApp, Twitter —  it’s challenging to cover every digital touchpoint and use the enormous amount of customer data it generates to fathom “what customers want.”

That’s where conversational commerce comes to the rescue. Powered by AI, conversational commerce solutions like chatbots, voice bots, and other digital assistants have enabled companies to render human-like customer interactions at scale. Conversational commerce apps on various social channels leverage the unending amount of customer data to analyze customer behavior, predict their needs to deliver proactive engagement, and provide more personalized support.

Let’s explore more.

Conversational commerce in various social channels - What can it do for your business?

“Human interaction matters now — 82% of U.S. and 74% of non-U.S. consumers want more of it in the future. Regardless, the technology supporting human interaction must be seamless and unobtrusive across channels,” stated PWC’s latest report, Experience is everything: Here’s how to get it right.

Conversational commerce solutions in the form of Facebook, Instagram, and WhatsApp chatbots are making this a reality. 

Conversational chat commerce, powered by advanced technologies like machine learning, artificial intelligence, and natural language processing, is the latest paradigm in the customer experience world that draws in huge investments from the C-suite leaders. Chat and voice bots available on various social channels are now being used to solve a host of simple and complex customer queries 24X7, understand customer emotions, store information about purchase history, discover patterns in their behavior, and act accordingly to achieve maximum customer satisfaction.

Modern customers live online. They may be awake at two at night, browsing for new products or even reaching out to customer support. And they may do so from their desired social channel, be it Messenger, WhatsApp, or Instagram. Moreover, they may want to switch channels amidst an ongoing support case, i.e., change from WhatsApp to Facebook. Here conversational commerce solutions take charge. Not only do they provide instant, round-the-clock customer support, but e-commerce bots can retain the original context of the conversation to allow seamless switching without the customer being asked to start over.

So, what are the use cases of conversational commerce? How can chat and voice bots present on various social channels delight customers and build value at each stage of the sales funnel?

Let’s find out.

Curating a personalized sales journey through conversational commerce

Below, we present to you the use cases of conversational commerce on various social channels that can help organizations tailor sales journeys and win the life-long loyalty of their customers.

  • Amplify reach to new customer segments by pushing alerts about new products, collecting customer preferences and behavior data, answering initial queries, and delivering personalized recommendations and tips.
  • Acquire customers by curating creative marketing campaigns on the most popular social channels, assisting customers with website navigation, payment, checkout, and product use, and tailoring product suggestions according to purchase history and past behavior.
  • Is this shirt available in a different color? When will I receive my package? Customers can get their queries addressed simply by approaching the brand’s chatbot on the social channel of their liking. In this way, not only customer support becomes more accessible, but brands also get hold of valuable information that can help personalize CX.
  • As and when the customer’s desired product becomes available, e-commerce bots can push notifications and alerts through various social channels and provide a CTA to “Buy Now.” It can also suggest alternative and supplementary products as the case may demand.
  • Collect customer feedback through Instagram and Facebook surveys on a test batch of a new product.
  • Curate loyalty programs and send personalized discount and reward coupons to encourage customers to share product ratings and feedback and develop long-lasting relationships.

Take a look at the type of conversations a bot can have with your customers.

Conversation Bot
Conversation
Conversations A Bot

A sneak peek into a few conversational commerce solutions on various social channels

At Acuvate, we help clients build and deploy bots on various social channels that consistently deliver exceptional CX with minimum friction or hassle with our enterprise bot-building platform called BotCore.

  • BotCore is a Microsoft Preferred Co-Sell-ready solution that leverages Microsoft’s best AI, machine learning (ML), and natural language processing (NLP) technologies.
  • Our conversational commerce solutions are deployable on popular social channels (WhatsApp, Facebook, Instagram, etc.) and support multiple languages, including German, French, Italian, English, etc.

Here are a few examples of how brands are using conversational commerce in various social channels to engage, inform, and support their customers.

1. POND’s SAL chatbot for Facebook Messenger

Chatbot For Facebook Messenger

An FB Messenger bot, also available on webchat in different countries, POND’s SAL can be accessed through Unilever’s flagship store on Shopee. Using technologies like AI and augmented reality (AR),  SAL interacts three-dimensionally with customers to deliver personalized and more immersive shopping experiences.

When a user uploads a selfie,  SAL works on identifying critical skincare concerns across four significant areas, namely, pimples, wrinkles, spots, and uneven skin tone.

The bot also sends relevant skincare articles and beauty tips to keep the users engaged.

Having completed the skin analysis, SAL then recommends suitable products from POND’s according to the customer’s skin condition.

2. pRANA’s chatbot for Facebook Messenger

Prana’s Chatbot For Facebook Messenger

Sustainable clothing company prAna’s chatbot for Facebook Messenger uses a casual, friendly tone to help customers shop online or get the information they need.

The bot helps shoppers navigate through the online store by asking them to choose between options like  “Shop Women’s, “Shop Men’s, or “Shop Best Sellers.” Moreover, the bot’s intuitive conversational AI interface gives the option to type a message or easily navigate to the previous menu.

3. BMW’s “Follow Now” chatbot on WhatsApp

Chatbot On Whatsapp

To combat the massive inflow of service requests when summers and winters are approaching, BMW launched its “Follow Now” chatbot on WhatsApp to help customers book an appointment from the convenience of their home from an app they use every day.

The bot offers real-time updates on the service status of their car and intimates them when their cars are ready for pickup. Moreover, service assistants can intervene and answer certain queries if the bot isn’t able to answer those.

4. Clear’s Cera chatbot for Facebook Messenger

Clear’s Cera Chatbot For Facebook Messenger

Clear is Unilever’s leading anti-dandruff shampoo brand. The company’s chatbot Cera, available for the Indonesian market on Facebook Messenger, acts as your go-to hair care assistant offering personalized hair diagnosis, advice, and product recommendations for dandruff, dry hair, oily hair, etc.

The bot proactively sends relevant articles to the users after analyzing their behavior, preferences, and needs and delivers answers to a range of frequently asked questions related to hair care.

5. Roma by Rochi’s chatbot for Instagram

Chatbot For Instagram

Roma by Rochi is a popular fashion brand in Argentina that revolves around encouraging women to embrace their sense of style.

Though quite popular on Instagram from likes, comments, and story mentions, recently, the brand launched a digital assistant on the social media platform to assist with a “tag and like” giveaway.

Post the deployment of the bot; the brand experienced an astounding 82% increase in reach in one week and a whopping 741% rise in engagement.

The brand also has a Facebook Messenger bot, which they use to answer queries, upsell products, and notify customers when sales begin.

We, at Acuvate, can help clients across industries build engaging conversational commerce experiences in various social channels using our enterprise bot-building platform called BotCore. To know more, please feel free to schedule a personalized consultation with our AI experts.

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How can sales bots boost revenue? https://botcore.ai/blog/sales-chatbot-boosts-revenue/ Tue, 15 Mar 2022 06:59:00 +0000 https://botcore.ai/?p=10185 How can sales chatbots boost revenue? The COVID-19 pandemic has established a new normal in the way customers interact with brands. With the dramatic increase in online shopping and rapid digitization, customer expectations have pivoted drastically. Customers now want brands to engage with them across multiple devices and channels while upholding the need for a […]

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How can sales chatbots boost revenue?

The COVID-19 pandemic has established a new normal in the way customers interact with brands. With the dramatic increase in online shopping and rapid digitization, customer expectations have pivoted drastically. Customers now want brands to engage with them across multiple devices and channels while upholding the need for a personalized, contextual experience at every touchpoint.

In line with changing customer expectations, brands have adopted AI-powered chatbots to deliver the personalization customers wish for, drive loyalty and retention, and boost revenue.

Research by Inside Intercom found that sales are the most common use of chatbots, with 41% of respondents saying they use their chatbots for sales activities. 67% of respondents in the retail industry claimed they were satisfied with their chatbot investments. Chatbots increased sales by an average of 67%, with 26% of all sales starting through a chatbot interaction.

Indeed, chatbots boost revenue by automating every stage of the sales funnel, generating overall business value, streamlining activities across sales and production, and helping sales personnel deliver seamless customer engagement throughout their journey with the brand.

Moreover, bots help the sales team simplify operations and increase productivity. Sales chatbots ingest data from various LoB systems, interact with the sales team using a conversational interface, and quickly provide the most relevant information for faster decision-making. Moreover, they can push alerts regarding business-critical KPIs such as revenue, stocks, etc., to help the sales team streamline sales-related activities and boost revenue.

Research by Mckinsey showed that 75% of people using digital channels for the first time will continue to use them when things return to “normal.” Consequently, organizations worldwide have started adopting sales bots to boost revenue.

Let’s explore further.

Common use cases of sales chatbots

There are many ways chatbots help sales teams improve customer-centricity and increase revenue.

Sales chatbots can act as the first line of communication between businesses and their customers and offer personalized, engaging content in multiple languages, turning customers into delighted brand advocates and allowing the sales team to focus on pertinent issues requiring immediate action.

Let’s have a look.

1. Generate qualified leads by understanding the customer better

Chatbots embedded on your brand’s website can engage with visitors, ask a predefined set of questions, understand the prospect’s intent, and collect demographic information such as name, email, phone number, etc., to qualify leads for further nurturing.

Furthermore, they can trace website visitors’ browsing patterns and search history to understand their profile and needs and decide if they could be potential customers.

2. Engage customers with personalized product recommendations

Based on the information collected and the browsing history, sales bots can push suitable products, guide users to the specific product pages, blogs, and videos, and offer detailed information about the purchase process.

Proactive engagement with potential customers saves time finding the required information and leads to a positive customer experience that can convert to a sale.

Global analyst firm Gartner predicts that by 2025, proactive customer engagement interactions will outnumber reactive customer engagement interactions. 

3. Improve loyalty with frictionless customer support

A sales bot never sleeps. Users can interact with these bots 24X7, raise service requests, and find answers to mundane, repetitive queries in a few minutes.

A single sales bot can answer an unlimited number of queries simultaneously, in multiple languages and time zones, while still maintaining a personalized touch. This allows customer support agents to focus on high-priority customers or tasks that add business value.

Prompt and excellent service enhance brand perception and improve sales and customer retention.

4. Retain customers through upselling and cross-selling activities

Sales bots can retain customers by sending meaningful recommendations and relevant messaging to them.

As a customer interacts more and more with the sales bot, data collected by the bot can help marketers get a deeper insight into customer preferences and needs and refine engagement.

Predicting customer needs saves costs as organizations spend less time and resources developing products that customers won’t like. The bot can then proactively inform customers about upcoming sales and latest offers and upsell/cross-sell products to increase revenue.

5. Tailor loyalty programs to boost sales

Sales bots can build customer loyalty by curating tailored loyalty programs comprising freebies, offers, and discount coupons sent through email and social media apps.

Additionally, the sales team can use bots to collect customer feedback, understand pain points, and resolve them through suitable engagement.

Building customer loyalty enhances customer satisfaction (CSAT) and improves the Net Promoter Score (NPS) – both of which help boost revenue.

Let’s take a real-life example.

Otis, Quaker Oats’ Facebook Messenger bot, sets reminders for overnight oats, helps customers with online shopping, offers delicious recipes, and supports any queries they raise

Users may type in a food emoji or choose from some of the seasonal recipes available, and the bot can gauge customer preferences to recommend suitable products and ingredients.

Post implementing Otis, Quaker Oats’ customer engagement has increased 13% year-on-year without any marketing support.

6. Sales bot - your internal sales team’s friendly digital assistant!

Sales bots help sales personnel access all sales data on a unified platform and track business-critical KPIs such as revenue, market share, best and worst-performing quarters, etc.

Moreover, sales bots can notify sales team members if they are off-track meeting targets or fail to meet their KPIs. In short, such bots can improve employee productivity and boost revenue. The sales team is responsible for ensuring top-line growth; consequently, they must track several key performance metrics, including OTIF (On-time in full), Opportunity win rate, average deal size, must stock list (MSL), etc.

At times, they must access information from multiple back-end systems and interact with LoB systems simultaneously.

Sales bots can process large amounts of data in real-time. They can generate reports every quarter on best and worst-performing products, best quarter, individual members’ performance, stock across various locations, etc.

All the sales team has to do is ask natural language questions like “What were sales of Product X in Q2-20,” and the bot will fetch information from the backend, even from multiple systems, if needed. The sales bot will then leverage its conversational interface to analyze and generate key information and respond in natural language for quicker decision-making. Sales bots can also push alerts to sales personnel while on the field, based on location and the customer they are interacting with.

Moreover, the sales bot works 24×7. This means the sales bot can ask questions and get answers when and where they want.

How we helped a leading FMCG brand improve operations and increase revenue with a sales bot

At Acuvate, we developed a sales bot named “Lucy” for a leading FMCG brand. As the largest supplier of branded still soft drinks, the number two supplier of branded carbonated soft drinks in Great Britain, and the industry leader in Ireland and France with operations in Brazil too, the company found it challenging to obtain a consolidated view of data across production, inventory, and sales, often relying on manual reporting to combine sales and production data.

With our enterprise bot-building platform called BotCore and advanced technologies like Microsoft Azure and .net framework, we built Lucy to help our client overcome the above challenges.

Lucy helped the sales team obtain immediate, easy, and anywhere access to data. By connecting to various LoB, reporting, and CRM systems, the bot enabled the sales team to query sales and ops-related metrics on a unified platform, such as net revenue, trading contribution, stocks, etc. Lucy eliminated the need to view offline reports or log in to siloed systems to get essential information.

The company experienced a slew of benefits, including the following –

  • Improved revenue due to better decision-making
  • Reduced shortages and improved productivity
  • Single-window view of production, sales, and shortages data
  • Instant answers to questions frequently asked by the new staff.

How can Acuvate help?

We at Acuvate help clients build intelligent sales bots with our enterprise bot-building platform called BotCore.

Minimalistic coding requirements and a visual design interface allow clients to deploy customer-facing chatbots within weeks. We leverage the best of AI, ML, and NLP technologies to build bots.

Our bots are multilingual and support various almost all popular enterprise messaging apps and social media platforms.

Additionally, we leverage Microsoft’s low-code bot-building solution, Power Virtual Agents (PVA), to help clients build bots as needed with little or no coding knowledge.

To know more about BotCore and Power Virtual Agents, please feel free to schedule a personalized consultation with our experts.

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Generate 5X ROI on chatbots with a personalized engine https://botcore.ai/blog/chatbots-roi-personalized-engine/ Mon, 07 Mar 2022 10:53:00 +0000 https://botcore.ai/?p=10158 Generate 5X ROI on chatbots with a personalized engine Way back in 1998, Jeff Bezos once remarked, “If we have 4.5 million customers, we shouldn’t have one store. We should have 4.5 million stores.” More than two decades later, one can say for sure that truer words haven’t been spoken. In today’s digital era, personalized […]

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Generate 5X ROI on chatbots with a personalized engine

Way back in 1998, Jeff Bezos once remarked, “If we have 4.5 million customers, we shouldn’t have one store. We should have 4.5 million stores.”

More than two decades later, one can say for sure that truer words haven’t been spoken. In today’s digital era, personalized experiences form the heart and soul of meaningful customer engagement. Customers prefer brands that can predict their needs and understand what they want to buy.

As a new age customer, you must have experienced the rapid transformations that have been happening around you. Well, this blog will talk just about that. So, let’s deep dive into the following aspects —

  • Changing customer expectations in the post-pandemic world
  • Introducing AI in your customer experience strategy
  • The perils of not personalizing customer engagement
  • Use cases of AI chatbots in personalizing the customer journey
  • Generate 5X ROI on chatbots with a personalized engine
  • POND’S successful journey to personalizing CX
  • How can we help

Introduction

91% of consumers say they are more likely to shop with brands that provide offers and relevant recommendations. Additionally, 74% of people hate being shown irrelevant content. Generic, non-personalized messaging can upset customers and lead to churn.

Customer needs have gotten more dynamic and harder to fathom by the day. Yet, customers worldwide continue to demand personalized and seamless engagement. In a survey of 350 executives conducted by consulting firm Gartner, about two-thirds (63%) of digital marketing leaders said they continue to struggle with personalization. The survey also found that even as 84% of respondents believe AI and machine learning enhance the ability to deliver real-time, personalized experiences, only 17% of the executives are using it.

For one, an unprecedented amount of customer conversations are taking place online — tweets, memes, likes, dislikes –  and customers expect brands to listen to all these conversations. Secondly, they expect brands to leverage all this information, modify their CX strategy accordingly, and deliver proactive, meaningful, and personalized customer engagement.

The Perils of not Personalizing!

Personalization has become the “holy grail” of marketing. Businesses are striving to garner the benefits of personalized customer experiences (CX), including improved retention and increased ROI.

Organizations that fail to adopt personalization as a vital CX strategy face issues on various fronts, some of which are listed below —

  • Negative customer experiences and increased churn
  • Low customer retention
  • Lost business value 
  • Lack of customer insights
  • Inaccurate customer data
  • Loss of competitive advantage

Research by Gartner says brands risk losing 38 percent of customers because of poor marketing personalization efforts.

Artificial Intelligence in the CX World

To empower customers with tailored brand experiences, CX leaders are making vast investments in artificial intelligence-powered virtual agents, like chatbots, voice bots, and conversational IVR.

AI-powered chatbots, in particular, play a significant role in forming connected brand experiences across the entire customer journey. By analyzing customer conversations to gain real-time insights into their preferences, sentiment, and intent, bots can help brands create unparalleled personalization at every stage of the sales funnel, delighting customers and delivering significant ROI from AI.

Let’s deep delve further into how chatbots are helping brands personalize the customer experience and generate 5X ROI.

How are AI chatbots driving personalized CX?

AI-driven chatbots leverage advanced analytics, machine learning, natural language understanding, and cloud technology to collect, store, and analyze vast amounts of customer data, discover patterns in customer interactions, and predict customer needs to deliver proactive and personalized engagement.

In the post-pandemic world, customer experience practitioners are making vast investments in AI to meet their customers at all possible digital touchpoints (omnichannel engagement) and satisfy their desire for instant, flexible, and more personalized interactions.

Moreover, such bots drive higher value customer interactions by proactively recommending intelligent actions to help contact center agents resolve customer issues quickly. 

So, how do AI chatbots help brands tailor customer journeys, build lasting loyalty, and produce exceptional ROI?

Use-cases of AI chatbots in personalizing the customer journey

1. Reach:

  • Reach out to new customers by pushing alerts about products, collecting insights on customer preferences, and sending personalized tips and advice.
  • Study customer preferences, create cohort profiles, and better match them to recommend accurate products.

2. Acquire:

  • Acquire customers by curating personalized marketing campaigns, assisting in online shopping, guiding customers on product use, and sending tailored product suggestions.
  • If the customer’s preferred product is unavailable, AI chatbots can apologize for the inconvenience, suggest alternative products, and provide a “buy now” option to enable a smooth transition.
  • Suggest frequently bought together products to invoke new thoughts and help customers make better buying decisions.

3. Retain:

  • Create buyer personas (customer profiles) to understand their priorities and area of focus and send personalized reminders to “buy again.”
  • Study valuable customer data to predict customer needs, proactively upsell, and develop products based on customer needs.

4. Support:

  • Progressively profile customers based on their interests and click-rates and proactively recommend articles and FAQs based on their primary concerns.
  • Answer product-related queries, track orders, help with product use, and offer technical support.
  • Leverage sentiment analysis capabilities to comprehend customer emotion and respond to customer needs accordingly.

5. Loyalty:

  • Ask for product ratings and feedback to recommend better products in the future.
  • Build tailored loyalty programs (freebies, discounts, reward coupons, etc.) to develop lasting customer relationships.

Enjoy 5X returns on chatbots with a personalized engine

Research has shown marketers who exceeded their revenue goals were using personalization techniques 83% of the time. Moreover, businesses that employ data-driven personalization deliver five to eight times the ROI on marketing spend.

Deloitte’s study “Connecting with meaning: Hyper-personalizing the customer experience using data, analytics, and AI” reveals well-executed hyper-personalization can deliver 8X the return on investment on marketing spend and lift sales by 10% or more.

Additionally, personalization can reduce acquisition costs by as much as 50% and increase the efficiency of marketing spend by 10% to 30%.

A recent survey of 200 marketing leaders by Forbes Insights and Arm Treasure Data reveals that where personalization is being applied in a robust way, enterprises see positive results. Two in five executives surveyed, 40%, report that their customer personalization efforts have had a direct impact on maximizing sales, basket size, and profits in direct-to-consumer channels, such as e-commerce, while another 37% point to increased sales and customer lifetime value through product or content recommendations. More than one-third of respondents have seen increases in their transaction frequency due to personalization strategies.

Let’s take a quick example of SAL, POND’s personalized skincare expert.

Ponds Chatbot

Women often find themselves googling for skincare products and hacks for fighting uninvited spots and pimples before an important event. Yet, most are still searching for the “right” skin care product for their skin type. POND’S recognized this gap in the market and developed its chatbot SAL to meet this consumer need.

SAL is the “go-to” place for all women spending hours on the internet searching for skincare products.

Rohit Bhasin, Global Brand Vice President, POND’s Unilever, has stated, “POND’s has always been known for providing consumers with expert skincare and making beauty more accessible. We recognize how confusing and overwhelming it can be for anyone to pick the right skincare products when there are so many choices.”

Customers can access POND’s SAL through Unilever’s flagship store on Shopee. SAL leverages powerful technologies like AI and augmented reality (AR) to act as a personalized skincare assistant for users.

With SAL, POND’s has newfound ability to interact three-dimensionally with all its customers and provide immersive shopping experiences to them.

When in need of skincare, all you have to do is open SAL’s chat interface and upload a selfie. Based on your headshot, SAL will identify significant skincare concerns in four critical areas: pimples, wrinkles, spots, and uneven skin tone, and suggest the best product for your needs.

Additionally, SAL will keep sending additional beauty tips to keep you engaged while it analyzes your skin.

SAL’s success can be established because 98% of users have cited positive ratings with the bot. Moreover, 95% of users have enjoyed the personalized shopping experience on SAL.

How can Acuvate help?

According to Gartner, “By 2023, more than 60% of all customer service engagements will be delivered via digital and web-service channels, up from 23% in 2019.”

At Acuvate, we help clients build AI chatbots to assist them in hyper-personalizing customer journeys and generating maximum ROI from investment in AI using our enterprise bot-building platform called BotCore.

  • A low-code, graphical interface that allows companies to build and deploy AI-enabled chatbots quickly
  • Bot administrators can create/update bot responses using the drag and drop feature and rich media elements like Buttons, Carousel, Images, Videos, etc.
  • Supports seamless integration with existing CRM software
  • Our bots can engage in both simple and highly complex conversations.
  • BotCore leverages Microsoft’s most renowned AI, machine learning (ML), and natural language understanding (NLU) technologies.
  • Our bots are deployable on popular enterprise messaging channels (Slack, Teams, etc.) and support multiple languages, including English, German, French, Italian, etc.

To know more about BotCore, please feel free to schedule a one-on-one consultation with our experts.

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Customer Service and Beyond: Harnessing Chatbots to transform the customer experience https://botcore.ai/blog/chatbots-to-transform-customer-experience/ Fri, 17 Sep 2021 06:57:00 +0000 https://botcore.ai/?p=8725 Customer Service and Beyond: Harnessing Chatbots to transform the customer experience We are all aware of how organizations are using chatbots to provide exceptional customer service. Statistics say, “By 2023, more than 60% of all customer service engagements will be delivered via digital and web-service channels, up from 23% in 2019. Impressive, right? However, if […]

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Customer Service and Beyond: Harnessing Chatbots to transform the customer experience

We are all aware of how organizations are using chatbots to provide exceptional customer service. Statistics say, “By 2023, more than 60% of all customer service engagements will be delivered via digital and web-service channels, up from 23% in 2019. Impressive, right?

However, if you think that customer service is the only viable use case of chatbots, you may want to re-consider. With the advent and rise of technologies, such as machine learning, artificial intelligence, robotic process automation (RPA), augmented reality (AR), etc., chatbots can be leveraged to lead customers through different stages of the sales funnel.

Research by Tech Republic has found “Teams that use chatbots to automate conversations are 27% more likely to meet rising customer expectations than those that don’t.”

Read the blog to know how chatbots can transform the overall customer experience, beyond just customer service.

Customer Service and Beyond: Harnessing chatbots to transform customer experience

Chatbots can be used to take customers through the entire sales funnel or lifecycle. The customer lifecycle defines the various stages a consumer goes through before, during, and after sales.

They are available 24/7 to help customers with queries, purchases, and product support, anytime and anywhere.

Here’s how chatbots can help create personalized, meaningful, and immersive customer engagement and transform customer experience in each of these phases –

1. Reach

Reach is the first step of the customer lifecycle. Your marketing efforts should be concentrated in places where your customers are to create awareness about your products.

In today’s world, customers demand an omnichannel experience. To generate customer interest around the company’s products and services, organizations can deploy chatbots on channels, such as websites, social media apps, and common messaging platforms like WhatsApp and Facebook Messenger.

Such chatbots can be used to push alerts and notifications about new products, answer customer queries around them, collect data about customer preferences through chats and email, and send personalized tips and advice.

2. Customer acquisition

Reaching potential customers isn’t enough. It is crucial to engage them with the right messaging and personalized product recommendations.

Bots can study customer profiles to make informed and targeted suggestions about what to purchase. Moreover, they can provide suggestions on how to use the product for more meaningful engagement, lead customers to the company’s online store, and assist with payment and checkout.

Examples:

Quaker’s Oats Facebook Messenger bot, Otis, guides customers with online shopping, sets reminders for overnight oats, provides consultation for the queries they raise, and offers delicious recipes.

Users may choose from some of the seasonal recipes available, or type in a food emoji for their preferred item.

This helps the bot guage customer preferences and personalize recommendations for recipes, products, and ingredients.

With Otis, Quaker’s customer engagement has increased 13% year-on-year without any other marketing support.

In 2019, skincare brand POND’S launched its Facebook Messenger bot called SAL that leverages augmented reality (AR) to provide immersive customer experiences. When users upload a selfie, the bot delivers personalized skincare recommendations across four significant areas of concern – pimples, wrinkles, uneven skin tone, and spots.

While the analysis is generated, which usually takes about a minute, the bot shares additional skincare tips to retain the user’s interest.

Upon the completion of the diagnosis, users are informed about their skin condition and offered personalized product recommendations by POND’S.

98% users stated a positive engagement with SAL chatbot.

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Shopee Asset

3. Customer retention

To retain customers, organizations must continue to send relevant and meaningful recommendations and messaging to them.

As a customer interacts more and more with the chatbot, data and feedback collected by the bot can help marketers predict customer needs, analyze, measure, and refine engagement strategies, and develop creative marketing campaigns.

Predictive analytics saves costs as organizations spend less time, money, and effort on developing products that the customers won’t prefer.

Using the chatbot, organizations can then proactively inform customers about latest offers, upcoming sales, complementary products, and upsell/cross-sell products to increase revenue.

In fact, Gartner predicts that by 2025, proactive customer engagement interactions will outnumber reactive customer engagement interactions.

Moreover, quick and accurate customer service using chatbots is one of the most basic ways to increase customer retention.

Examples:

Marriott Rewards members can book travel at Marriott International hotels worldwide on Messenger, handle hospitality-related arrangements, such as business meetings, plan their vacation with the digital magazine Marriott Traveler, and chat with the customer support executives in case of queries.

Additionally, the organization leverages the chatbot to upsell to customers their premium suites and services.

4. Customer loyalty and advocacy

Once retained, customers wouldn’t have an issue recommending the products and services of the organization.

Harnessing chatbots to transform customer experience is one of the surest ways to build customer loyalty, get them to spread positive word-of-mouth about your brand, and build your customer base.

Other benefits of customer-facing chatbots

  1. Cost Savings – Customer profiling and analysis using chatbots saves costs as organizations spend less time, money, and effort on developing products that the customers won’t prefer. Moreover, chatbots can handle multiple customer queries at once, 24X7, and at scale, allowing customer service agents to focus on more complex customer needs.
  2. Going local – With multilingual chatbots, organizations can interact with customers in their native tongue. Engaging with customers in their preferred language accelerates localization efforts, allows organizations to understand regional nuances and cultural subtleties, and makes customers feel valued.

How can Acuvate help?

At Acuvate, we help clients deploy AI-enabled chatbots with our enterprise bot-building platform called BotCore.

With minimalistic coding requirements and a graphical design interface, enterprises can build and deploy chatbots customer-facing chatbots within a few weeks. Our bots leverage the best of Microsoft’s AI, ML, and NLP technologies to understand what the customer wants, retain context, learn from past conversations, and provide seamless customer engagement.

Moreover, enterprises can cater to a global customer audience with support for multiple languages like French, German, Italian, English, etc.

To know more about BotCore, please feel free to schedule a personalized consultation with our experts.

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Using Sentiment Analysis to Improve the Conversational User Experience https://botcore.ai/blog/sentiment-analysis-to-improve-the-conversational-user-experience/ Mon, 12 Jul 2021 11:47:00 +0000 https://botcore.ai/?p=7936 Using Sentiment Analysis to Improve the Conversational User Experience Analysis firm Juniper Research predicts, “By 2022, chatbots could help trim business costs by more than $8 billion per year.” The same study anticipates a significant surge in automated customer service programs as companies move to embrace artificial intelligence (AI) and predicts that in industries, which […]

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Using Sentiment Analysis to Improve the Conversational User Experience

Analysis firm Juniper Research predicts, “By 2022, chatbots could help trim business costs by more than $8 billion per year.”

The same study anticipates a significant surge in automated customer service programs as companies move to embrace artificial intelligence (AI) and predicts that in industries, which manage a large volume of human interaction, 75-90% of queries will be dealt with by chatbots, resulting in cost savings of up to $0.70 per interaction.

Indeed, AI has revolutionized how businesses interact with their customers. However, enterprises looking to replace, or at least augment, their traditional customer interactions with AI don’t want to lose the human touch.

Humans are emotional beings, and the ability to gauge sentiments and respond with empathy is ingrained in our language instincts. No wonder, during interactions with service chatbots, customers expect the bots to understand their tonality, mood, and sentiments and respond accordingly.

That is where sentiment analysis comes into the picture. This blog gives an insight into what sentiment analysis is and how it is used in chatbots to enhance the overall customer experience.

What is sentiment analysis?

Sentiment analysis is a sub-category of natural language processing (NLP) and machine learning (ML) that extracts emotions, thoughts, and opinions from audio or textual data.

In short, sentiment analysis enables bots to comprehend the user’s mood and sentiments by analyzing utterances for words and phrases that indicate a particular emotion. The bot can then model its response suitably to provide excellent customer service. Using machine learning tools to train the bot with words/phrases that correlate to different moods, sentiment analysis teaches the bot to detect emotions without any human intervention.

For example, A customer writes, “I am annoyed with your team. I have been sent items that I didn’t order.”

The bot responds by saying, “We are incredibly sorry for the mistake. The correct package will be delivered today by 16:30 hours.

Here, sentiment analysis renders emotional intelligence to the bot and allows it to understand that the phrase annoyed is an expression of the customer’s disgust and anger at the callousness of the team.

Hence, sentiment analysis helps bots conduct thoughtful, engaging, and meaningful conversations with customers.

Here’s how the process flows –

  • The bot starts with understanding the polarity of the conversation. Polarity indicates whether the sentiment displayed in the conversation is positive, negative, or neutral. The bot can detect emotions, such as joy, anger, sadness, fear, disgust, curiosity, and many more.
  • Then the AI and NLP technologies measure the magnitude or intensity of the emotion and assign a numerical score to each of the sentiments.
  • The final score helps the bot to decide a further course of action. For example, for an utterance (voice/textual) that has a high positive score (joy/happiness), the bot can leverage the opportunity to upsell. On the other hand, for a conversation with a high negative score (sadness/anger), the bot may escalate the call to a live agent for effective remediation of the issue.

Sentiment analysis is a sub-category of natural language processing (NLP) and machine learning (ML) that extracts emotions, thoughts, and opinions from audio or textual data.

In short, sentiment analysis enables bots to comprehend the user’s mood and sentiments by analyzing utterances for words and phrases that indicate a particular emotion. The bot can then model its response suitably to provide excellent customer service. Using machine learning tools to train the bot with words/phrases that correlate to different moods, sentiment analysis teaches the bot to detect emotions without any human intervention.

For example, A customer writes, “I am annoyed with your team. I have been sent items that I didn’t order.”

The bot responds by saying, “We are incredibly sorry for the mistake. The correct package will be delivered today by 16:30 hours.

Here, sentiment analysis renders emotional intelligence to the bot and allows it to understand that the phrase annoyed is an expression of the customer’s disgust and anger at the callousness of the team.

Hence, sentiment analysis helps bots conduct thoughtful, engaging, and meaningful conversations with customers.

Here’s how the process flows –

  • The bot starts with understanding the polarity of the conversation. Polarity indicates whether the sentiment displayed in the conversation is positive, negative, or neutral. The bot can detect emotions, such as joy, anger, sadness, fear, disgust, curiosity, and many more.
  • Then the AI and NLP technologies measure the magnitude or intensity of the emotion and assign a numerical score to each of the sentiments.
  • The final score helps the bot to decide a further course of action. For example, for an utterance (voice/textual) that has a high positive score (joy/happiness), the bot can leverage the opportunity to upsell. On the other hand, for a conversation with a high negative score (sadness/anger), the bot may escalate the call to a live agent for effective remediation of the issue.

How does sentiment analysis transform the overall conversational user experience?

1. Creates memorable customer interactions

One of the most significant benefits of sentiment analysis is its ability to decipher the customer’s mood and personalize responses to match the sentiment.

This helps the bot to create engaging customer interactions from the get-go, increasing chatbot adoption in the process.

2. Spots critical emotional triggers

Often standardized, scripted phrases, such as “Please wait” or “We will assist you shortly,” can evoke strong emotions and alter customer attitude.

Identifying such messages that brush customers the wrong way can help organizations change their service approach. Analyzing sentiment data enables bots to determine the kind of conversation flows that generate maximum customer satisfaction and improve the conversational user experience in the future.

3. Allows bots to handover angry customers to human agents

Sentiment analysis empowers bots to gauge customer emotion early on in the chat, allowing them to invoke appropriate escalation and route the angriest/most frustrated users to the suitable human agents for more efficient support.

Seamless escalation to a live agent leads to a better conversational user experience. It is especially advantageous during peak hours when the customer support staff finds it challenging to handle hundreds of customers and comprehend individual emotions. Using sentiment analysis ensures human agents handle only the most critical requests.

How does improving conversational user experience through sentiment analysis benefits the brand?

1. Helps gauge customer perception about your brand

Emotions play heavily in determining how a customer perceives your brand. Understanding how satisfied your customers are with your products and services will assist you in predicting the length and nature of their relationship with the brand.

Using sentiment analysis to comprehend how customers feel about your brand helps you communicate effectively and tailor experiences to improve brand perception.

2. Enables organizations to segment customers for more focused engagement

Sentiment analysis presents insights that enable you to segment your customer base by how happy or dissatisfied your customers are with your brand.

Using this information, organizations can prioritize support for the unhappy users and design strong branding and product strategies for the future while rewarding the most loyal customers at the same time.

3. Helps upsell and acquire new customers

With sentiment analysis, bots can identify delighted customers and generate upsell and cross-selling opportunities by recommending new/complementary products.

By analyzing the sentiments of new users, the bot can suggest the right products and retain their interest in your brand.

How can Acuvate help?

At Acuvate, we help clients build AI-enabled chatbots with our enterprise bot-building platform called BotCore.

BotCore’s chatbots come with a built-in capability to perform sentiment analysis. With minimalistic coding requirements and a graphical design interface, our bots can be built and deployed within a few weeks.

Interestingly, our chatbots can uncover a myriad of emotions, including anger, joy, curiosity, frustration, disappointment, fear, sadness, and positivity, and even identify and score multiple emotions (Example, joy and mild disappointment) in a single user utterance.

Moreover, our bots leverage the best of Microsoft’s machine learning, AI, and natural language processing technologies to understand user context, rank customer emotions at the individual and aggregate level (i.e., for the entire chat), identify vital emotional triggers, curate appropriate responses, and seamlessly hand over the conversation to a human agent when needed.

Additionally, our bots support multiple languages, such as French, Italian, English, German, etc.

To know more about BotCore and its sentiment analysis functionality, please feel free to schedule a personalized consultation with our experts.

The post Using Sentiment Analysis to Improve the Conversational User Experience appeared first on BotCore.

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5 Reasons For Enterprise Chatbot Failure and How to avoid them https://botcore.ai/blog/reasons-for-enterprise-chatbot-failure/ Mon, 21 Jun 2021 12:08:00 +0000 https://botcore.ai/?p=8258 5 Reasons For Enterprise Chatbot Failure and How to avoid them A Forrester Report declared that “the majority of chatbots were poorly- implemented, systematically ruining customer experiences and – in the case of the worst incarnations – nothing more than “virtual idiots.” Cut to today – and chatbots have become a key element of the […]

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5 Reasons For Enterprise Chatbot Failure and How to avoid them

A Forrester Report declared that “the majority of chatbots were poorly- implemented, systematically ruining customer experiences and – in the case of the worst incarnations – nothing more than “virtual idiots.”

Cut to today – and chatbots have become a key element of the digital transformation initiatives that businesses have undertaken globally. While the pandemic has undoubtedly had a disruptive impact on many social, economic, and financial aspects, it has been a significant catalyst in the chatbot’s “return to life.”

As consumers were forced to move to online modes of shopping, their digital footprint increased exponentially, with a huge rise in the use of digital channels, including social media messaging, email, and chatbots. Chatbots help customers solve queries faster, at scale, anytime, and anywhere.

Moreover, remote and distributed workforces are here to stay, and by implementing chatbots, organizations can simplify knowledge management, automate repetitive tasks, and free employees to focus on strategic, revenue-generating activities or on customers that demand more attention.

However, even now, achieving full-scale implementation and adoption is difficult, with many chatbot projects stuck in the pilot mode or hesitant to move to large-scale deployment.

So, why do chatbots fail? Most importantly, what can enterprises do to avoid such failures?

5 Reasons for Enterprise Chatbot Failure

1. Trying to achieve too much at the onset

Organizations often try to do much with chatbots right at the beginning, which leads to failure at the pilot stage. At the end of the day, it’s all about the value that the chatbot provides. Therefore, it’s best to limit the bot to a narrow set of use cases that serve customers and employees well on the get-go, and then gain momentum, as needed.

2. Lack of alignment on success metrics

There could also be a misalignment on the success metrics for a chatbot. That is, organizations may not be able to define the right set of KPIs that decide how effective the bot is. For example, an organization builds a chatbot mainly for the purpose of answering customers’ FAQs.

In such a scenario, measuring the success of the pilot run by “how funny and natural sounding” the bot is doesn’t serve the purpose of the business.

Moreover, organizations must approach chatbots as a long-term investment that requires a dedicated team to continuously monitor trial results and improve performance over time.

3. Lack of involvement from business users

Failure to manage change effectively is another reason why chatbots don’t move past the pilot stage. As humans, it’s harder to alter habits and adapt to new tools.

While the end-users may be drawn in by the hype of a chatbot release, they may soon revert to their old methods of communication. Moreover, technology teams in-charge of the chatbot may move on to another project without investing the time and effort required in improving the bot’s content.

4. Lack of specificity

Customers and employees are looking for quick and specific answers when they get in touch with a chatbot. Sometimes, chatbots bombard the user with web pages and FAQ documents, instead of providing the exact resolution.

When chatbots aren’t designed well to solve the user’s queries, it lowers their success rate in the pilot stage, deterring organizations from implementing them on a large-scale in the future.

4. Lack of specificity

Based on customer mood, transaction value, or its inability to solve the user’s issues, the chatbot must be capable of transferring the conversation to a human agent with the full contextual elements.

Moreover, queries requiring multi-step resolutions must be resolved seamlessly without the customer having to repeat information or steps already completed.

However, chatbots that fail to do so provide little utility to the user and may be shelved in the pilot stage.

Tips to avoid chatbot failure

Scaling a chatbot is less about AI or conversational design than it is about information architecture, knowledge management (KM), and organizational alignment. Firms must radically simplify how they deploy and support bots instead of overengineering them.

So, here are a few tips to avoid enterprise chatbot failure –

  1. Think about the goal of the chatbot from the user’s perspective and the objectives of the business. For example, do you only want your bot to respond quickly? Or, is the quality of response and user satisfaction more important?
  2. Put the right people in charge of deployment, with the right budget, and the right chatbot KPIs in mind.
  3. Ensure the quantity and quality of data that feeds the bot is optimum. Keep collecting more data, but don’t over-complicate the process with an overabundance of data from siloed systems.
  4. Pick the right vendors to ensure the chatbots are well-designed to understand user intent and the context of the conversation, respond accurately, and escalate the chat to human agents when needed.
  5. Demonstrate the benefits of the chatbot to help employees embrace the change. For example, let them know that by automating a certain percentage of customer interactions, they can spend “X” amount of time on the more challenging tasks.

How can Acuvate help?

At Acuvate, we help clients build and deploy AI-enabled chatbots with our enterprise bot-building platform called BotCore.

With its low-code, graphical interface and visual tools, organizations can deploy omnichannel, multilingual chatbots within a few weeks.

As Microsoft Gold Partners, we use the best of Microsoft Technologies, including artificial intelligence, machine learning, and natural language processing (for example, Microsoft Bot Framework, LUIS, Azure Cognitive Services, etc.). We also help clients implement chatbots using the Microsoft Power Virtual Agents platform.

To know more about BotCore and other services, please feel free to schedule a personalized consultation with our chatbot experts.

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The Future of Chatbots: Top statistics to look for in 2021 and beyond https://botcore.ai/blog/the-future-of-chatbots-2021-statistics/ Tue, 18 May 2021 12:47:00 +0000 https://botcore.ai/?p=7960 The Future of Chatbots: Top statistics to look for in 2021 and beyond According to a study by Allied Market Research, the global intelligent virtual assistant market was pegged at $3.44 billion in 2019 and is expected to hit $44.25 billion by 2027, registering a CAGR of 37.7% from 2020 to 2027. Owing to the […]

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The Future of Chatbots: Top statistics to look for in 2021 and beyond

According to a study by Allied Market Research, the global intelligent virtual assistant market was pegged at $3.44 billion in 2019 and is expected to hit $44.25 billion by 2027, registering a CAGR of 37.7% from 2020 to 2027.

Owing to the rapid digitization of business, the rise in the penetration of smart devices, the high demand for automation in customer services coupled with the evolving employee expectations, chatbots and voice-enabled assistants are being used in a wide range of industries and use cases.

From searching for information, finding hotels and restaurants, listening to music, and shopping for products to solving customer queries, carrying out routine HR and IT tasks, and getting personalized alerts and recommendations, intelligent virtual assistants (IVA) have taken the entire business landscape by storm.

Today’s market is filled with AI-enabled chatbots and voice assistants, including Microsoft Cortana, Google Home, Apple Siri, and Amazon Alexa, embedded on every platform and device, such as websites, social media apps, smartphones, portable speakers, smartwatches, and tablets. Indeed, it’s time for organizations to jump on board with this transformation to survive and thrive in the market.

So, if you plan to implement chatbots/virtual assistants for your customers and employees, read on to learn about the latest industry trends and use cases, and top statistics to look out for in 2021.

Customer and employee challenges

  • 33% are most frustrated by having to repeat themselves to multiple support reps. (HubSpot Research)
  • 60% of customers feel that long holds and wait times are the most frustrating parts of a service experience. (Zendesk)
  • 30% of customers will leave a brand and never come back because of a bad experience. (IDC)
  • The average business worker uses 4 different applications for daily work.
  • Employees spend over 3 hours a day on easily automatable tasks. (Business Standard)
  • 70 to 80 percent of business intelligence initiatives end up failing due to bad user experience. (Gartner)
  • In a survey, 99% of the respondents said it is valuable for employees to easily find HR information, such as maternity leave or other company policies. (ServiceNow HR Tech Conference and Expo)

Chatbot Adoption Statistics:

  • 3 in 5 millennials have used chatbots at least once in their lives. (Outgrow)
  • There are more than 300,000 active bots on Messenger. (Review42)
  • About 7 billion conversations take place on Facebook Messenger every day. Messages are opened more often than emails, with a 30-40 percent CTR. (G2 Learn Hub)
  • Teams that use chatbots to automate conversations are 27% more likely to meet rising customer expectations than those that don’t. (Tech Republic)

Customer Service Chatbot Statistics:

  • By 2023, 30% of customer service organizations will deliver proactive customer services by using AI-enabled process orchestration and continuous intelligence. (Gartner)
  • By 2025, proactive customer engagement interactions will outnumber reactive customer engagement interactions. (Gartner)
  • By 2023, more than 60% of all customer service engagements will be delivered via digital and web-serve channels, up from 23% in 2019. (Gartner)
  • By 2025, customer service organizations will elevate operational efficiency by 25% by embedding AI in their multichannel customer engagement platforms. (Gartner)
  • Chatbot conversations will deliver $8 billion in cost savings by 2022. (Juniper Research)
  • By 2023, 25% of the customer interactions will be via voice. (Gartner)

Employee Chatbot Statistics:

  • In 2021, artificial intelligence will recover 6.2 billion hours of worker productivity globally. (Gartner)
  • By 2022, 70% of white-collar workers will interact with conversational platforms on a daily basis. (Gartner)
  • Support leaders whose teams use chatbots are 60% more likely to report an improvement in resolution times and 30% more likely to report an increase in customer satisfaction than those who do not. (Tech Republic)
  • Organizations are increasingly using RPA chatbots to automate diverse, repeatable tasks and back-office operations in HR, IT, etc. RPA software spending will total $2.4 billion in 2022. (Gartner)
  • 92% of HR teams agree that chatbots will be important in directing employees toward finding the information they need in the future. (ServiceNow HR Tech Conference and Expo)
  • 90% of businesses report faster complaint resolution with chatbots. (MIT)

Chatbot Market Statistics: Outlook in 2021 and beyond

  • The global chatbot market in BFSI is projected to reach $2,186 million by 2024, growing at a CAGR of 29.7% from 2018 to 2024. (Allied Market Research)
  • The operational cost savings from using chatbots in banking will reach $7.3 billion globally by 2023, up from an estimated $209 million in 2019, representing a whopping 862 million hours of time saved for banks. (Juniper Research)
  • The retail sector will gain the most from chatbot technology. By 2023, 70% of chatbots accessed will be retail-based. (Juniper Research)
  • The smart speaker market segment will grow at a CAGR of 40.3% until 2027. (Allied Market Research)
  • Voice shopping is estimated to hit $40+ billion across the U.S. and U.K. by 2022. (Tech Crunch)
  • By 2021, early adopters of the technology who have redesigned their websites to support voice search capability will increase revenue by 30%.
  • By 2024, consumer retail spend via chatbots worldwide will reach $142 billion – up from just $2.8 billion in 2019. (Insider Intelligence)
  • The Healthcare chatbots market is poised to value over $340 million by 2027 end with a CAGR of over 20.5% during the forecast period 2020 to 2027. (Future Wise)
  • AI may automate more than 100,000 supportive roles in the legal sector within the next two decades. (Deloitte)
  • 85% of travelers book travel activities via mobile. (Hotel Tech)
  • 87% of users would interact with a travel chatbot if it could save them both time and money. (Hospitality Technology)

How can Acuvate help?

At Acuvate, we help clients deploy AI-enabled chatbots and virtual assistants with our enterprise bot-building platform called BotCore.

With minimalistic coding requirements and a visual design interface, enterprises can build and deploy chatbots for a wide range of use cases, including HR, IT, intranet, business intelligence, customer service, and contact center support, within a few weeks. Our bots leverage the best of Microsoft’s AI, machine learning, and natural language processing technology to understand what the user wants, learn from past conversations, retain context, and provide proper support.

Moreover, BotCore allows organizations to create an intelligent virtual assistant network by connecting multiple bots within your enterprise, supporting third-party app integration, and enabling built-in support for Power Virtual Agents, LUIS, and QnA Maker.

Enterprises can also cater to a global customer and employee audience with support for multiple languages like French, German, English, etc.

To know more about BotCore, please feel free to schedule a personalized consultation with our experts.

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Using AI to Accelerate Competitive Advantage https://botcore.ai/blog/accelerate-competitive-advantage-with-ai/ Thu, 25 Feb 2021 08:48:00 +0000 https://botcore.ai/?p=7627 Using AI to Accelerate Competitive Advantage Today’s business landscape is significantly tech-driven, and AI is at the heart of this change. Indeed, for an organization to fully reap the benefits of artificial intelligence, it is no longer sufficient to experiment with it in bits and pieces. Instead, a full-blown AI-driven digital strategy has become a […]

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Using AI to Accelerate Competitive Advantage

Today’s business landscape is significantly tech-driven, and AI is at the heart of this change. Indeed, for an organization to fully reap the benefits of artificial intelligence, it is no longer sufficient to experiment with it in bits and pieces. Instead, a full-blown AI-driven digital strategy has become a “must-have” for companies that wish to accelerate growth and retain a competitive advantage.

Mitra Azizirad, Corporate VP for Microsoft AI, was quoted as saying, “In the next five years, every successful company will become an AI-company. It is now the next level of competitive differentiation.” No wonder the global AI market is expected to reach $15.7 trillion by 2030. Those still caught in the loop of experimentation and risk assessment face the dangers of being left far behind than organizations taking practical measures to implement AI.

Indeed, with its ability to operate and analyze faster and more effectively than the human brain, AI provides unprecedented performance benefits. The purpose of this blog is to get an in-depth insight on how organizations can leverage AI to accelerate competitive advantage, look at a few real-life examples of companies using AI to solve business problems, and tips for leaders to implement AI at-scale.

Moving from exploration to true AI implementation

AI capabilities are advancing quickly, and companies are achieving tangible benefits from implementation. While it is true that many companies haven’t deployed AI technologies yet, and some are working towards scaling it, the early-mover advantage of adopting AI may fade away soon.

Research conducted by Deloitte has found, “AI adopters are investing significantly, with 53% of the respondents spending more than US$20 million over the past year on AI-related technology and talent. At the same time, 71% of adopters expect to increase their investment in the next fiscal year by an average of 26%.” Consequently, to retain a competitive edge, leaders may quickly need to move beyond leveraging AI to optimize and automate processes and start using AI to create new products and operation methods.

In such a scenario, starters, or businesses still dipping their toes into AI adoption, with no concrete plan for the future, are at significant risk of jeopardizing their operations.

To implement and scale AI, organizations must consider the technical aspects and the ethical and cultural ones too. Consequently, it is not only essential to strategize in terms of the data, technology, and skills required. Instead, leaders must determine the business ventures in which AI can achieve something productive and ensure the benefits are felt inclusively by everyone in the organization.

How AI accelerates competitive advantage: A peek into the use cases

1. Acting as a smart assistant

AI solutions can act as intelligent assistants of employees and streamline business operations by merely taking over most of the mundane, repetitive, low-involvement work, allowing employees time to focus on the more productive, valuable, and expertise-requiring tasks.  

2. Boost marketing ROI

Companies have a significant amount of customer data at their disposal. However, it is only AI, with its ability to learn and provide insights on such data, that helps organizations adopt an objective and data-fuelled approach to meeting customer expectations. Advanced AI analytics enables companies to obtain a holistic, 360-degree view of their customers. Keeping track of customer behavior helps companies tailor product recommendations to the customer’s taste and generates brand loyalty.

3. Data security

When the business landscape is becoming increasingly digitized and many organizations are moving their resources to the cloud, data security becomes a significant matter of concern. AI solutions can track patterns and locate any deviations or anomalies. They can predict and prevent threats and other suspicious activity or outages (for example, a DDOS attack) that can bring the entire network and business operations to a standstill.

Case studies: How companies are using AI to stay ahead

A) Ask Wilbur: Centrica’s chatbot for support agents

Here’s a case study by Microsoft:

Centrica is an energy and services company serving in Ireland, the UK, and North America. Their biggest AI venture, ‘Ask Wilbur,’ leverages natural language processing (NLP) technology to support contact center agents. When a customer reaches out to support, the bot pops up and asks the agent what the customer wants. So, if the agent says, “the customer wants a brand new supply connection,” the bot comes up with a quick list of questions that the agent may ask further. In Centrica’s own words, net promoter score for customers serviced with Wilbur turned out to be higher than for those who weren’t.

Today’s customers expect fast, easy, personalized, and accurate support. Moreover, employees need quick access to information to carry out daily operations and address customer concerns in the shortest time-frame.

AI-enabled chatbots provide information faster and more accurately, thus delivering a fair, competitive advantage. Automated support is available 24/7, and chatbots can quickly provide the relevant service and handle requests at scale with increased efficiency and reduced costs.

B) M&S’s AI-enabled advanced analytics

Let’s look at how Microsoft helped one of the biggest retail chains implement AI:

M&S, one of the most prominent names in UK retail since 1884, holds an outstanding brand image for quality products and services. Within M&S, AI-driven predictive analytics has proven to be valuable in building an efficient supply chain, forecasting customer requirements, and deriving useful insights from complicated datasets to assist with more accurate product management.

With the abundance of data available at every organization’s behest, decision-making at any organizational level has become more data-centric. Such information is used for AI-driven predictive analytics.

Be it decisions related to inventory reporting, purchase dynamics, demand planning, supplier discounts, supply predictions, or even customer preferences and customer loyalty programs, AI-enabled analytics helps leaders make smart choices in every aspect of the business.

C) How ESNEFT hosted its RPA platform on Microsoft Cloud

East Suffolk & North Essex NHS Foundation Trust (ESNEFT), a healthcare organization, post implementing its first-ever RPA solution, did a pilot project for invoice processing in the finance team. By the 12th month, not only was the company able to avoid potential human errors, but it also increased efficiency by releasing about 4,500 hours a month.

Robotic Process Automation (RPA), or RPA, leverages AI and machine learning to perform various routine, repetitive tasks, including calculations, data entry, etc.

When the cognitive ability of chatbots is combined with the automation capacity of RPA, enterprises can automate tasks end-to-end. Moreover, an RPA-enabled bot can integrate with legacy enterprise systems to retrieve information and handle more complex tasks.

Tips for leaders to scale AI

By the end of 2024, 75% of enterprises will shift from piloting to operationalizing AI, driving a 5X increase in streaming data and analytics infrastructures.

~ Gartner

As seen above, merely exploring AI in individual pockets of the business will no longer suffice. Instead, embedding AI at an enterprise-wide level will unlock its maximum potential in transforming employees, customers, and business performance.

So, here are a few tips for leaders to implement AI at scale –

  1. View AI as a business change program and not a mere IT project.
  2. Do not force AI on the people; instead, take everyone on board by articulating the reason for the change and the benefits they can reap.
  3. Understand the problem and then brainstorm how AI can solve it.
  4. Make sure your data is in order and ready to be capitalized for data-driven decision-making.
  5. Do not expect organic growth. Instead, build an organization-wide strategy for AI to scale.
  6. Don’t make a single person in charge of an AI-led transformation. Rather, motivate each person to take personal responsibility for the change.

At Acuvate, we assist clients with implementing a host of AI technologies, including advanced analytics, RPA, and chatbots. Our robust AI solutions help businesses build an agile, resilient, and future-proof workplace capable of meeting the expectations of all stakeholders.

Please feel free to schedule a personalized consultation with our AI experts to know more about our service offerings.

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Understanding Digital Customer Service And How To Improve It https://botcore.ai/blog/digital-customer-service/ Wed, 30 Dec 2020 09:48:00 +0000 https://botcore.ai/?p=7321 Understanding Digital Customer Service and How to Improve it The digital world has changed the buying process! Customers today are well-informed of products and the market. When they enter stores or talk to a sales representative, today’s customers already know what they want to buy and how much they want to pay for it. They […]

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Understanding Digital Customer Service and How to Improve it

The digital world has changed the buying process! Customers today are well-informed of products and the market. When they enter stores or talk to a sales representative, today’s customers already know what they want to buy and how much they want to pay for it. They have access to digital channels like blogs, vlogs, websites, social media, chatbots and digital marketplaces that provide them with a plethora of relevant information. In fact, once the sale is closed, customers take the time and use those same channels to either shame or promote the seller with a mere click of the button. Today’s customers don’t just want to enjoy the benefits of their purchases, they also want to enjoy the journey of making those purchases.

Therefore, to give the customers what they want, businesses have realized that they must provide exemplary digital customer services – paving the way for a complete customer service transformation.

Customer service leaders today are facing tremendous pressures:

  • Ensure customer journey in digital channels at lowered costs
  • Match up to competition’s service standards
  • Assure leadership that the service center is more than just a cost center

According to Karen Freberg, Associate Professor in Strategic Communication at the University of Louisville, digital customer service is a necessity in today’s business landscape as it presents a unique opportunity to build a two-way dialogue with customers and learn about their wants and needs.

Understanding Digital Customer Service

In today’s digital age, with rapid adoption of technology, the rules of customer services are changing. The customer is now in the driver seat.

Digital customer service – defined as meeting the needs of customers using digital channels such as emails, mobile apps, blogs, vlogs, SMS, online chats, and social media, has become more than just engaging with the customer and handling their complaints and returns; it is about enhancing the entire end-to-end customer experience, where every interaction is seamless, fast, and personalized.

In fact, if done well, digital customer service can also become a valuable revenue driver, with Forrester estimating that 69% of customers preferring to buy from brands that offer consistent customer service across multiple channels. Therefore, business leaders are increasingly understanding that “how” they deliver is as important as “what” they deliver.

Additionally, new competitors are flooding the market by taking advantage of the low barriers of entry provided by globalization, de-regulation, and technology developments. This further highlights the need for a robust digital customer service, with Deloitte stating that 67% of a company’s competitive edge comes from its customer service.

Improving Digital Customer Service

Digital customer service must not be seen as merely adding more digital options to the pre-existing customer service efforts. It must be approached as a multistage transformation, undertaken with rigorous planning, streamlined processes, and initiatives backed by the leadership. Here are some ways you can improve your digital customer service strategy:

1. Figure out the gaps

Digital channels produce terabytes of unstructured data, which when optimized can be a valuable source of information and insights. Therefore, it is necessary for businesses to deep dive into their existing customer service strategy and analyze various touch points and functionalities, and how they are offered to spot weaknesses and inconsistencies. This enables businesses to direct their investment into the right tools and processes.

Measuring the impact of the new initiatives across each digital channel individually and assessing the migration rate between them can help businesses improve their customer service results and identify the most effective digital channels. This ensures that the business can maintain control over various channels, understand the nature of the customer service requests, and its ability to resolve them. This can also help businesses identify the points where customers are abandoning self-service and calling the contact center.

Additionally, analyzing the prior customer service requests can help businesses identify priorities. For instance, businesses often find that a small number of problems account for the majority of customer requests and costs. One of the major reasons for this is a lack of direct digital solution. This means that designing the right solutions for those problems can help the business significantly cut  costs and also enhance customer experience.

2. Develop targets and a service strategy

Once the business identifies the problem, it must set up well-defined targets, defined at the enterprise, group, and individual levels. This is initiated by developing a workflow for each involved personnel, as part of the larger framework to address the problem. For instance, a touchpoint map can show which customer request can be addressed at which digital touchpoint, which can help businesses pin-point which functionality to develop.

Businesses should consider the costs and savings-estimate when setting up the workflow. In fact, many businesses utilize service-to-sales functionality to some digital touchpoints in order to cross-sell services and cover the cost of the functionality development. However, it is crucial to push them selectively, and not too aggressively to prevent jeopardizing the customer service efforts and brand image.

3. Reach out to customers proactively

Proactive customer service involves anticipating the needs of customers and delivering the relevant information and solutions without being prompted. This can include notifying customers about new product errors and glitches, providing tailored advice, offering personalized product solutions recommendations etc.

For instance, consider the example of a shopping chatbot deployed by a retail or CPG company. When a customer interacts with the chatbot and shows interest in making a product purchase, the chatbot can analyze past shopping behaviour of the customer and recommend more products similar to the one he/she is trying to purchase.

In addition, the chatbot can suggest the usage of coupons or promotional offers while the customer tries to check out. It can also notify customers in advance if there is a delay in orders and provide an updated delivery ETA.

Proactive customer service not only improves customer satisfaction and confidence but also reduces costs and increases agent productivity. Human agents can spend less time answering routine questions and focus on other productive tasks. A report by Enkata shows that proactive customer service reduces call volumes by 30% and increases customer retention by 3-5%

 

4. Send updates on new products and services

Powerful digital customer service and engagement is crucial whenever an organization launches new products or services. You not only have to ensure customers are fully aware of the launch and understand the product benefits but also need to make sure they know how to use the product features and address any new concerns they might have.

A major insurance company based in Canada recently approached for our help on improving their digital customer service as they were planning to launch a new insurance plan. We helped the company deploy an AI virtual assistant on their corporate website within 8 weeks. Upon the launch of the new plan, the GDPR chatbot was able to educate customers about the plan, address their queries and help new members decide which scheme they should choose based on their demographic information. The bot  deflected most of the questions from going to the company’s call center and reduced inbound call volume.

5. Address “How-to” scenarios

Another important aspect of digital customer service is helping customers understand the different ways they use a product or service. For instance, Knorr, a global CPG company and manufacturer of dehydrated soup and meal mixes, deployed a chatbot that provides different soup recipes, tips and tricks for preparation, and personalized ingredient recommendations.

This type of customer service initiatives help companies not only improve the overall customer experience and engagement but also drive sales and revenue. 

6. Utilize AI-driven technologies

Businesses must look to adopt modern AI-powered technologies that can provide key advantages in improving digital customer service:

1. Chatbots and Virtual Assistants For 24/7 Customer Service

As seen above, a chatbot is arguably the most adopted digital customer service technology in recent times. With their highly interactive and human-like conversational interfaces, chatbots deliver personalized responses to customers based on their intent and preferences.

Their deployment can increase the company’s customer interactions capacity, and reduce human involvement to only when absolutely necessary or when the chatbots are unable to solve a specific problem, thereby saving costs. Moreover, their performance is easy to track. The data generated by chatbots can help businesses identify key customer trends and behaviors.

With their machine learning and Natural Language Processing (NLP) capabilities, chatbots can also learn from previous interactions to better understand customer vocabulary.

By acting as the first line of service agents, they enable human agents to focus on high value tasks. They can assist your customers 24 X 7, across multiple channels and languages.

Learn More:

2. Advanced Analytics To Extract The Value From Contact Centre Data

Contact centres produce humongous amounts of data. However much of this data is unstructured and present in different formats – free text fields, images, audio etc. and accessible only to the IT department. Therefore, businesses have been unable to tap into its value to guide their decision making.

However, today, with the development of NLP-driven advanced analytics, businesses can tap into this data, across multiple channels, and generate valuable insights to better understand customer behaviour and the general customer sentiment towards the product or the company.

Learn More: Advanced Analytics: 4 Simple Steps For Enterprise Adoption

Get Started

With McKinsey stating that 25% of customers will defect after just one bad digital experience, it’s time for customer service leaders to rethink their service strategy. Leading businesses make their digital customer service experiences useful, engaging, and consistent, at every touchpoint. They personalize it and keep it emotionally appealing across the entire customer life cycle. This enables them to drive brand loyalty and customer retention.

If you’d like to learn more about this topic, please feel free to get in touch with one of our customer service transformation experts for a personalized consultation.

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