#5 Biggest Myths Holding Back Your Chatbots' Strategy
Grow Your Business, Not Your Inbox
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
Chatbots are the enlightenedchild of the constant evolution; the digital technology has gottenthrough. Initially, there was the emergence of computers, iPads, and then smartphones handling apps andnow,we have chatbots. Moreover, it’s certainly the first ever innovation that emerged specifically for the digital computing trend; as such, you wouldn’t find a similar technology in the traditional medium such as the print, television, radio, etc.
There’s been a drastic upsurge in the domain and eventually, the implication affairs are simplified over time.Owing to these contours, enterprises ranging from major brands to aspirant startups are striving to incorporate competent chatbot strategies. However, the mountingdiscernment over the technology still seems to be struggling for the right acumen.
Hence, I am going to deconstruct the five biggest myths that prevent firms from arriving at a competent chatbot strategy.
1. Chatbot is a Newly-arisen Tech
Well, most of us presume that anything new is apparently vulnerable; however, be mindful that Chatbots hold over 50 years of history.
It all started with ELIZA, a computer program that was able to study the human language and respond just like we do. The tech continued gradual improvement until the emergence of smartphones garnered rapid development. Siri (2010), an attuned personal assistant from Apple Inc. marked a radical milestone in the evolution.
Subsequently, various stable chatbots sprung from various aspirant ventures such as Mitsuku (chatter bot), Insomnobot-3000 (entertainment chatbot), Poncho (weather bot) andInstalocate (travel bot). Thus, they are used extensively on all major platforms and firms are keenly looking forward to utilizing every advantage they propagate.
All these factors prove that chatbots aren’t the next big thing, but rather the rage already taking over all potential venues.
2. Chatbots are only for Elitist Businesses
This is the most notorious chatbot myth. Just by going through the big names associated with the upswing of chatbots, it’s a blunder to consider it pretentious. Statistics of chatbot commerce for the year, have proven dominant over the past few years. It pretty much sums up the importance for aspiring startups to incorporate the technology in order to achieve definitive success.
Chatbots have uncovered new grounds in the marketing and advertising sectors. Most conventional marketing mediums constitute the one-way-communication model; therefore, the customers need to get into another medium for further clarification on the marketing content, however,it has both within it.
The myth associated with this one is that fetching chatbots would be painstakingly costlier; false. In working with, prolific companies, you can cost effectively adopt a desired chatbot inclusion. Moreover, they have the potential to cut down varied business costs.
3. Chatbots are only for Customer Service Sectors
Most people believe that It is primarily function is to chat with a customer when the admin is offline. However, it has attained robust value additionsover the period of development, making it suitable for varied utilization. It can be useful for any sector with appropriate utilization, delivering optimum results in marketing, sales and reputation management. Let’s debunk this particular myth with examples. Below outlines the most successful chatbots in various sectors, which opened up the diversified utility of the same:
Sales -Chatbots like KoalaChat, GrowthBot and chatShopperhave embellished the marketing and sales sector.chatShopperhelps customers to find suitable fashion products, whereasGrowthBotand KoalaChathelpbusinesses withmarketing and has been proven to assist in attaining ambitious sales targets.
Accounts - Chatbots have sneaked into the accounting departments too. There’s Pegg, MyKai and Penny, which all are intended to assist in managing your money, financial decisions and banking maneuvers.
Communications- Facebook Messenger goes on a rampage, holding over 30000 chatbots. These chatbotsattend to various affairs in various sectors such as news, shopping, etc. Some specificexamples include the CNN bot on FB messenger delivers relevant news; Fify for fashion shopping and1-800-Flowers that is aligned to delivering flowers.
Furthermore,it has also sneaked into several other industries including the Food &Beverage andLens/Spectacles industries, thus, indicating that chatbots aren’t only for customer service duties.
4. Chatbots lack the Personal Touch of a Human
There are two types of chatbots, namely Rule-Based and Artificially Intelligent (AI) based. In the rule-based approach, specific rules need to be definedto the bot, in order for it to respond within those boundaries. In the AI model, the bots are enabled with machine learning, which makes it more efficient than the former.However,in either model, the chatbotsestablishsimple interactions with the customers in a predictive nature. They are awake round the clock, interactin a more specific and sensible manner, retrieve respective info within seconds and aren’t lazy or ignorant, like a human would beat times. Therefore, a well-developed chatbot falls no shorter to a human.
5. Building Chatbots is a DIY Thing
If you believe you’re good atcoding things out, have developed a bunch of mobile apps, and think you can develop your own chatbot for your company, it may notbe a good idea altogether. Developing chatbots is apparently a different storywhen compared to developing apps. You’ll need clear ideas and voluminous data as a pre-requisite. Hence, it is always advisable to leave this to a pro.
Companies build chatbots, customized to a firm’s vision, goals and reputation. Their endeavors comprise a streamlined approach towards crafting the best Chatbots for an organization. It starts with understanding the firm’s values, determining the goals of the bot, identifying opportunities for a chatbot within it, deciding whether or not to go with an AI model, designing the conversations, as well as other aspects of the business.
Therefore, chatbots make up the new medium that takes advantage of various development tracks for businesses. Here, along with dismantling the five biggest myths that are holding back yourchatbot strategy; we have also contemplated the prominence of the chatbots and even the scope of theirimprovement in the future. If you have ever planto accompany your venture with a powerful chatbot, then now is the right time to initiate the process.