Bot a thought!

2020, the year of chatbots are the new world order of customer experience

‘Adaptation’ – a business philosophy that has been screaming for urgency since the new corona virus has waged a war on the human way of life! Never before has the global economy surrendered to a fatal occurrence in such a short period of time. While companies and individuals scramble to get hold of the “new normal” or life, as it may appear to look like in the near future, a single moment of truth has borne a meditative realization: The show must absolutely go on! In a time where it is critical to ensure economic stability, the rise of automation is more than just a fickle afterthought. 2020 has gleefully preponed the illustrious imaginations of cyber-futures and robots taking over our world. The support that was always viewed as the “inevitable future” is as present as it can get and bots are the new humans now. If you’re a brand, a business, or a service – you are now ready to rely on bots to cater to the economy and bring it back to its former glory.

The COVID-19 virus has been unforgiving to all industries, but it is no surprise that some have adjusted well to the thought of integrating automation in order to continue a strong relationship between themselves and their customers. Let’s take the pharmaceutical industry, for instance. Local healthcare globally has set a lot of their focus on dealing with victims of this pandemic; nurses and specialists alike. However, pharmaceutical services have taken the initiative to bring regular patients. with ongoing treatment and healthcare support toward hospice support and premed consultations. How? Through automation! Companies are creating chatbots that help assist patients with daily needs, such as fixing up doctors’ appointments, gathering patient information for their doctor partners, delivering medicinal supplies to patient’s homes, providing health-related query support, even pushing new product and promotions through notifications – chatbots are doing it all! Automation has created a system for human society to adapt in remote living through constant service and connectivity. In fact, the idea of automation in a medical field was well-received when in 2018 that Sanofi launched a chatbot called NINA in France, to aid patients with mild sleeping disorders. The bot provided round-the-clock responsiveness and sleep-aid recommendations such as turning all devices to warmer colors post-sunset.

The novel harmony with which automation is evolving and catering to healthcare globally is admirable. However, it is also important to note that the biggest challenge of any industry in times like these is the upsurge of customer demand online. Managing large volumes of queries without physical logistical support is a nightmare where social distancing is the only option for survival. How are other industries like BFSI adapting to this? Well, many in the industry were quick to adopt bot-support to handle customer needs 24/7 especially as personal expenses strain against all odds. Customers also need to know that their wealth and investments are taken off. This has arisen a new demand for artificial intelligence and machine learning, where intelligent conversational abilities are critical to sustain premium customer experience. A study says that roughly 40% of users will stop chatting with a bit after FLR and 25% after the second. Yes, BFSI categorizes under primary and basic services, but people also rely on human finesse in times of utmost crisis – no compromise. It is possible to do that with a bot? Very much so. Many BFSI firms have already provided intelligent and seamless bot services to not only provide excellent service but also gather data and analytics on changing consumer behavior depending on where their customers are, and how they are being affected. This information enriches the brand’s capabilities to adapt their strategies, and also helps them understand the ROI the bot delivers. For the unprecedented future that lies ahead, brands are using automation to dedicate themselves to providing a wholesome customer experience.

Human dependency on bots is already evolving from a natal stage to a full-blown relationship. Take the E-comm industry, for instance – undisputed champions of the game. Many small e-comm companies are establishing bots to retain customer care, by leveraging on the fact that they are very cost-effective, to begin with. On the other hand, customers are alright with developing the mentality of depending on a chatbot for meeting their needs. According to another study, 47% of users are willing to purchase items through a bot, and 71% don’t mind receiving customer care through a messaging app. The beauty of bots is that they can be stationed anywhere where the customer chooses to be. Whatsapp, a popular global messaging service, has seen an upsurge of customer-to-brand queries to a 40% dependency, from the former 27% only in March 2020. People are chatting, and brands are now listening attentively – through chat services!

By the wise words of Winston Churchill, “Never waste a good crisis”, chatbots do a good deal of damage-reversal in a very understated way. The chatbot business is prophesied to reach $1.23 billion by 2025 with a compounding annual growth hike of 24.3% according to a research report by Sellbrite. It’s clear that chatbots are here to stay and businesses in times of empathy cannot be better replaced by an extension of the human self.

Locobuzz is a SaaS platform which converges with technologies such as AI, ML, Big Data Analytics and Automation. We are a place where art is infused in technology, and chatbots are seamlessly near-human. With powerful capabilities to be integrated on websites, apps, messengers, the Locobuzz Chatbot is designed to deliver fine customer experience and continues to be a cost-effective investment with assured ROI for businesses investing in the future of the brand building. Connect with us on www.locobuzz.com for more information on how our chatbot can help your brand prosper.

Nishevita Aiyer
Client Relationship Manager
Locobuzz Solutions Pvt Ltd