Nowadays, Chatbots are trending in the marketing landscape like never before.
It’s crucial to take advantage of this massive opportunity for marketing activities and strategies. Opting for Chatbot services is a fast path to an exploding lead pipeline, heaps of revenue, and an unstoppable advantage over your competitors.
Plenty of big brands started developing their AI Chatbots and incorporated it into their business to balance support operations and lower their costs.
Here are a couple of facts that show how Chatbot usage evolved over the past few years and a few statistics worth knowing in 2020. Let’s dive into it!
1. Chatbot usage & stats
The idea of using human language in communication with machines arose in the early ’50s. However, at that time, people could not yet imagine machines that could react or work like humans. In the past few decades, things have changed significantly. Especially Chatbots are becoming popular among millennials. They like to handle support issues on their own. Nowadays many companies, including market leaders are incorporating smart assistants into their business strategy.
◾ Today, 27% of consumers are interested in artificial intelligence support tools. (Tidio)
◾ 60% of millennials say they have used Chatbots. 70% of them say they had a positive experience. (Forbes)
◾$5 billion will be invested in chatbots by 2021.
◾Giants such as LinkedIn, Starbucks, British Airways, and eBay announced their use of Chatbots in 2020. (Business Insider)
◾ 90% of businesses report recording large improvements in the speed of complaint resolution. (MIT Technology Review)
◾ 23% of customer service organizations are using AI Chatbots. (Salesforce)
2. Consumer taste
With two-third of customers having used Chatbots in the past year, this technology has become mainstream. Nowadays we are more into phones and tablets. Consumers prefer using Chatbots to engage with businesses. Here are some stats:
◾ 6. 64% of internet users say 24-hour service is the best feature of chatbots. (Drift)
◾Compared to 2018, in 2019 twice as many consumers were willing to engage with Chatbots because they were “very helpful.” (Forbes)
◾ 65% of consumers feel comfortable handling an issue without a human agent. (Adweek)
◾ 69% of consumers prefer to use Chatbots because they deliver quick answers to simple questions. (Salesforce)
◾ 37% of people use a customer service bot to get a quick answer in emergencies. (Drift)
◾ 40% of buyers don’t care if they are served by a bot or a human agent, as long as they get the support they need. (HubSpot)
◾ 48% of users prefer to interact with a Chatbots that solves issues over a Chatbots that has a personality. (Business Insider)
◾82% of consumers claim that instant responses to their questions are very important when contacting brands. (Business 2 Community)
◾ 23% of consumers still prefer to have a face-to-face interaction when the complexity of the issue increases, such as with payment disputes or complaints. (American Express)
3. Social media and messaging apps
Social media platforms have become so popular in the past couple of years. The number of Facebook users is growing by the day. Even Instagram has excelled. Many businesses have started promoting themselves on those social media platforms. Social media changed the way people communicate. Their communication habits translate into ways that they can reach out to businesses for better.
◾63% of consumers think businesses should be on Messenger. (Chatbots Life)
◾ 55% of consumers are willing to interact with a business via messaging apps to solve a problem. (HubSpot)
◾ There were over 300,000 chatbots on Facebook in 2018.
◾ Messaging apps are used by 5 billion users monthly. (HubSpot)
◾Conversations between brands and customers via Messenger have a 30% better ROI than re-targeting ads. (Business Insider)
◾74% of millennials say that their perception of a brand improves if the company responds to their social media inquiries. (Microsoft)
4. Customer service
Customer service organizations are using Chatbots more and more every day. This technology helps identify issues, then solve them promptly without human assistance. It is estimated that a growth rate of 136% was predicted for 2019, proving that Chatbots will have an even bigger role in cost savings soon. There are over 2 billion digital buyers worldwide. So Chatbots seem to be a reasonable solution for brands that wish to scale their customer service with minimum cost involved. Let us look at some trending stats:
◾53% of service organizations are going to use chatbots within the next 18 months. (SalesForce)
◾ In 2019 there was a 25% rise in the number of chats compared to 2018. (LiveChat)
◾ Businesses spend over $1.3 trillion per year to address customer requests. Chatbots could help to reduce that cost by 30%. (IBM)
◾ 64% of customer support agents who utilize AI Chatbots can spend most of their time solving difficult cases. (Salesforce)
◾ In 2019, the average queue waiting time was 4min 17 sec. Chatbots could shorten that time helping companies to increase customer satisfaction. (LiveChat)
◾ 46% of users would prefer to communicate with a live person instead of a chatbot. (Tidio)
5. Voice Bots
A Voice Bot is a software powered by Artificial Intelligence (AI) that allows a caller to engage with an Interactive Voice Response (IVR) system with their voice, generally using natural language. Brands such as Google and Amazon fuel the voice trend by creating more personalized and approachable interfaces, and many others follow in their footsteps to stay ahead in the league.
◾ 16% of Americans have used voice assistants like Alexa or Google Home for shopping. (Chatbot Magazine)
◾ 20% of searches in the Google App are now done by voice. (Think with Google)
◾ 71% of consumers are satisfied with the voice assistants in their mobile devices. (Forbes)
◾ The most popular voice searches on smart speakers are asking for music (70%), the weather forecast (64%), fun questions (53%), online search (47%), news (46%), and asking directions (34%). (Adobe)
◾28% of consumers call a local business after making a voice search. (BrightLocal)
6. AI-powered Chatbots
An AI-powered Chatbot is a smarter version that uses Natural Language Processing (NLP) and Machine Learning (ML) to better understand the intent of human input and provide a more natural, near human-level communication in return. More and more businesses are going to invest in Chatbots and reap benefits in the future.
◾ Up to 73% of healthcare admin tasks could be automated by artificial intelligence. (Business Insider)
◾By 2023 Chatbots are going to save the banking, healthcare, and retail sectors up to $11 billion annually. (Business Insider)
◾Over 50% of enterprise companies are predicted to spend more money on Chatbot development than on mobile apps creations by 2021. (Gartner)
◾ 70% of consumers will replace their visits to brick and mortar shops or banks with their voice assistants over the next three years. (Capgemini)
I think now it’s pretty much clear that how important AI Chatbots are going to be.
If you are interested in customer service, check out- www.techved.com. It gives you insights and case studies related to the services they offer.