Humans are good at talking and listening. They are one of the first things we learn and the sophistication of language sets us apart from other animals. Therefore it is no surprise that people are excited about chatbots as they offer a language interface to the digital world.
Chatbots have numerous possible benefits in diverse areas:
- Marketing: Messaging has a larger social base than all other areas of social media. Brands have been experimenting heavily with chatbots since the launch of Facebook Messenger Platform and discovered numerous use cases engaging their customers daily. We compiled all chatbot applications brands can build.
- Customer service: Customer service wages in the US is $100+ Billion p.a. Even small savings in wages can create massive benefits for B2C enterprises where customer reps spend a significant portion of their time answering simple questions.
- Inside sales: Conversion rate is 10x more for leads that are contacted within 5 minutes according to an insidesales.com study. Achieving that with a human team takes a large team and low utilization. Bots can achieve such speeds at low cost.
- Healthcare: Chatbots have significant potential in healthcare but regulatory challenges are likely to delay their adoption
- Prescription reminders: Bots like Florence provide reminders for prescriptions set by patients. This could be quite a suitable service for hospitals or pharmacies.
- Diagnostic-aid: Users tell Baidu Melody about their symptoms after which Melody asks several questions to produce a preliminary diagnostic.
- Theraphy: There are already numerous chatbot companies such as X2AI, Therachat or Woebot helping people manage their mental health
Chatbots have significant potential but that does not make them easy to implement. We explained in our detailed blog post on chatbot failure how discoverability, customer expectations and technological limitations have limited traction for numerous bots. And even those who achieved traction experienced a number of issues:
- Your users can take screenshots exposing weaknesses of your bot to everyone
- Your chatbots can engage in unwanted behavior decreasing your customers’ satisfaction
Chatbots fail so frequently that we already have a section on chatbot failures.
Yet benefits outweigh risks greatly. We can help you discover how to mitigate these risks and build great chatbots in our detailed blog post.