5 Key Considerations Before Adopting Enterprise Chatbots

“80% of new enterprise application releases will make reasonably strong use of chatbots by 2020.” -Gartner

An enterprise with its priorities and goals are very well aware of the benefits of bots. Digital leaders have come up with a roadmap that has raised the innovation level to bring digital transformation in their organization. Enterprise chatbots are exceptionally driving value at the workplace. It is a tool that enables the automation of regular support tasks while empowering the enterprise to emphasize more on intelligent design integrated machine learning. Markets and Markets research firm evaluated that, “AI market will grow to $5.05 billion by 2020, and Gartner reported that, “6 billion connected “things” will necessitate AI support by 2018.

AI has the potential to insert intelligence, automate business’s daily operations which save around 30% manpower costs and easier to measure. Chatbots today have become the most active, trusted technology that is used at home or at work and have remarkably enhanced the organizational ability to service customers, users and employees. This emerging technology is growing and as the study says, at present over 40,000 chatbots are existing, across various channels.

“More than 60% of the 2,500 consumers and business decision makers in the US, believe that AI can help provide solutions for many of the most important issues facing modern society, ranging from clean energy to cancer and disease. At the heart of the opportunity for businesses is the ability to turn data into intellectual property (IP) – more than 70% of business leaders believe that AI will be the business advantage of the future and currently analyzing how AI could enhance the quality, personalisation, and value of hundreds of different products and services across eight prominent sectors.”
-PwC Survey

With this huge potential chatbot can amplify the customer’s journey and acquire competitive advantage by simplifying the interaction process with a simple question. The bots then evaluate the need for the users and communicate with them using conversational interface.

Chatbots are now being adopted by many customer-facing organizations and it’s not about automating humans. It’s about revamping the user’s experience. Chatbot technology is rapidly emerging in this digital era. It offers reframing solutions for both consumers and enterprises as a whole. The study says chatbot industry is expanding at a compound annual growth rate of 24.3% and are expected to reach $1.23 billion by 2025.

However, in order to revamp the customer experience, the below 5 key considerations must be kept in mind before adopting enterprise chatbots.

• Why chatbot?

It is the first and foremost key consideration of any digital leader before adopting chatbot for their enterprise. Building a concept — what is the purpose behind building chatbots? or which issues it is going to address? A chatbot is an element that drives larger engagement and it becomes essential for a business leader to put communication strategy into their frame of reference.

• Chatbot Interaction

Once the enterprise is able to figure out the reason why to build chatbot the next step is to examine how it is going to interact with the users. Whether the interface is going to be voice-based or through chat? Or which conversational interface chatbot will use to communicate with the users? Business leaders need to figure out if their bot is going to serve their customers or internal systems to assist their employees as both entail separate framing and are going to add value to the business. The research says 80% of the interactions are going to be lead by chatbot in the next 3 years.

• Chatbot Strategy

The third key consideration is to ensure that the chatbots have full support from the internal systems and are aligned properly with the processes. Choose the right internal systems like API integration so that the chatbots service are available effortlessly across multiple platforms and help users with their support queries. Having multiple-task chabot services will help the enterprise to automate the processes and facilitate both internal and external users for other productive work.

• Chatbot Usage

A product is built with the intention to meet the objectives that are either to drive businesses, make money, add value, or deliver a great customer experience, as per the situation. And whenever a company is building an enterprise chatbot it requires plenty of time, money and effort. Therefore, it becomes the key point for a business leader to think how users are going to use it and customize it to their business goals before building a useful chatbot that will revamp all their users’ lives. As per ZeeBiz report, “integrating chatbots with transaction and payment options, companies can save money on customer acquisition costs and over the longer term, improve customer experience and retention.”

• KPIs For Chatbot

Incorporating metrics to measure the performance and finding the accurate KPIs for chatbot is crucial. Acquiring thousands of users is not the main objective of the organization. The major concern has always been how many acquired users are actively using it and measuring such interactions will give a detailed image of the chatbot performance. Just like employees have metrics to measure their performance so that they have a clear idea where they stand in an organization. Apart from quantitative metrics like bot engagement, qualitative measures like employee satisfaction should also be kept in mind while implementing bots into future optimizations and improvements within the organization.

According to Business Insider survey, “business leaders and decision makers of an organization are turning to the broader umbrella of automation technologies, which includes chatbots, for things like sales, marketing, and customer service. 42% of participants believe automation technologies in these areas will most improve the customer experience. And 48% said that they already use automation technology for these business functions, with 40% planning to implement some form of automated technology by 2020.”

Having the best conversational experiences is very important for an organization to improve the relationship with their internal and external users. Before jumping into the fascinating world of chatbots, an organization must set up a simple conversational interface keeping these key considerations in their mind while framing the business strategies.