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Chatbot Advertising and marketing in 2020: Utilizing Chatbots and Greatest Practices

This is the age of messaging apps and the rise of chatbots. A chatbot is essentially an artificial intelligence system that actively interacts with users via voice, text or messages.

Many of these chatbots are provided on social media platforms such as WeChat, WhatsApp, Facebook Messenger, text messages and Slack, among others.

The rapid expansion of Facebook Messenger has given many companies the ability to better reach their target audience via chatbots and APIs, and has become a particular need in marketing in particular. This wave was caused by easy access to customizable chatbots.

Market size and statistics for chatbots

The market size for chatbots is expected to increase from EUR 2.4 billion in 2019 to approximately EUR 9.4 billion per year increase at 29.7% in 2024 with an average annual growth rate. According to similar forecasts, the forecast period points to growth as these chatbots make a major contribution to reducing the operating costs for companies.

That’s why chatbots are so vital today in segments like service, marketing, and processing. They take up a large percentage of the market share. For this reason, more and more companies are tirelessly looking for virtual assistants and chatbots to ensure that customer inquiries are answered regardless of the time of day. For this reason, the market size will experience a boom in the customer service segment between 2019 and 2026 with an average annual growth rate of 31.6%.

In a nutshell:

About 69% of customers prefer chatbots over human agents because they can provide suitable answers to very simple questions. Around 95% of consumers firmly believe that the industry that benefits most from chatbots is the customer service segment. Around 33% of consumers would prefer chatbots when ordering and making reservations, among other things. Approximately 67% of global consumers have stated that they use chatbots for customer support.

Chatbots trends

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The industry has seen tremendous growth and is primarily associated with recognition and perception, with key players in the industry making great strides in speech recognition with products such as Google Assistant, Alexa and Siri do.

Chatbots are now critical to revenue generation and also serve as research bots. At the same time, they are particularly useful for brand awareness and lead generation to save companies a lot of money. For this reason, chatbots that take over can imitate human agents by enabling a good conversation experience while actively responding to all requests from a customer.

Best 5 Practices for Chatbots in Marketing

The world is slowly leaning towards texting rather than calling. For this reason, many consumers would prefer to contact customer support via messaging rather than the traditional call. Despite the fact that using chatbots as a marketing tool or customer service representative takes control, this is not enough.

Businesses need to optimize chatbots to get the best results. These are just a few of the best ways to get you up and running.

1. Set your expectations for the chatbots

You cannot complete a task unless you have a specific goal. Chats are no different. This means that you have to be sure why you need a chatbot and the purpose of the chatbot in your company.

This understanding allows you to create a design-specific experience and at the same time you can set the right parameters for analyzing the chatbots.

2. Your chatbots greeting says a lot

You can tell the difference between a good and a bad chatbot. While a grammatically correct chatbot is required, it is also important to ensure that your chatbot is user-friendly. A poorly worded or grammatically incorrect greeting is more damaging to you than it is because it is the immediate perception that a customer receives from the start.

3. List your chatbot's features in advance

Make sure you list the features you want your chatbots to perform in advance. In this way, you give a customer some kind of guidance on how to activate your chatbots instead of bombarding customers with a suggestion. This saves customers a lot of disappointment by giving them instructions on how to activate their chatbot further.

So give your chatbot a certain personality. This means that you are trying to reproduce the tone of your brand because its personality counts when it comes to engaging users.

4. lead management and qualification

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One of the main uses of a marketing chatbot is the qualification of leads. Chatbots are designed to help you reduce the number of people who are waiting to answer calls when your chatbots can do most of the work for you. If you don't use your chatbots, the whole process will no longer be cost effective.

Let your chatbot do most of the work so that by the time you get a call, you already know what the customer on the other end of the phone line wants to ask. This saves you a lot of time.

5. Make your messages as human as possible.

Since you already know that your chatbot needs a certain personality, you need to pay attention to the way your chatbot talks. An important way to do this is to split your information into human-friendly message blocks.

The trick here is to keep it short. Avoid sending long paragraphs. Establish a balance between professionalism and bizarre. It is important to also add word variants such as synonyms to ensure that your bot understands any direction the chat can go. You have to shape his voice and personality.

Benefits of Chatbots in Marketing

In short, these are some of the key benefits of using chatbots in marketing that you as a marketer should know.

You save time and money because you can actively take on most of the tasks at the same time. It easily generates leads and more sales as it increases conversion rates. It helps users get better results by getting the information they need in detail and asking qualified questions. It helps companies provide support outside of business hours. Employees receive immediate answers to their inquiries around the clock.

Although chatbot technology is relatively new, the future looks bright, especially given the rapid pace of technological advances.