The Rise Of Chatbots Leads To The Transformation Of The Customer Service Industry

By Bill Acholla May 8, 2019

I am a person who is always interested to stay updated about the new upcoming technologies.

My interest stems from my profession as I am a tech developer myself.

Most of today’s headlines are occupied by the stories of the evolution of chatbots and Artificial Intelligence taking over the world. I am sure, you guys are familiar with the news I, am talking about.

The customer service industry is one of the industries that are currently, going through a lot of transformations and that too for the good. All credit goes to the rise of new digital technologies.

These technologies are used to improve the relationship between the vendor and the customers.

I would rather say, it is aimed towards improving the overall customer experience. The customer service industry is a vast one including e-commerce platform, restaurants, health care, banking sector, and others.

This has led a lot of companies to the adoption of chatbots that eliminates the need for human assistance. Customers are enabled to seek support via these chatbots.

Based on the reports of Gartner’s 2018 Hype Cycle, the trend of chatbots is catching up so fast that it is going to take only 2 to 5 years for the technology to enter the mainstream adoption worldwide.

Chatbots have already started to redefine the customer service industry with banks and health care centers to be benefitted the most.

Let me show you guys what are the big changes that you are soon going to see in the customer service industry.

Chatbots: A Total Game Changer For the Health Care and Banking Sectors

I recently went through a study by Juniper research which states that chatbots are transforming the customer service industry. Two sectors that are going to get benefitted the most are banking and healthcare.

According to new research, the use of chatbots is going to help the two sectors save over $8 billion per year. You should be amazed to know that this is very much possible by 2022.

There is no doubt that health care and bank providers are going to profit a lot from this.

Now the question is how is the technology going to save so much cost per year? This has been made possible as the total time of inquiry resolution is reduced which as a result boost the cost savings.

Customers can get their queries answered really fast. There is no need for the customers to call and wait for several minutes for the operator to help them.

You can expect an average time saving of over 4 minutes per inquiry which is going to save $0.50 to $0.70 per interaction. The advancement of chatbots is going to eliminate the need for human assistance soon.

Both banks and health care providers will be able to make a lot of profits from this but, if you take a look at the bigger picture, you will realize that it is also going to lead to several job losses.

The rise of AI in the field of customer service industry means the elimination of human representatives. This may lead to a lot of problems but technological advancement is inevitable.

Chatbots are found to be suitable for health care inquiries. This will allow customers to choose from predefined answers which will allow the bots to identify the health issues faced by the patient.

The bot is also expected to provide a complete course of action based on the assessment of the health issue.

The technology is also being prepared to provide aid in more advanced healthcare diagnostics. For example, analysis and monitoring of mental health.

According to Juniper research, the use of chatbots is going to boost the success rate of the healthcare industry from 12% to 75% by 2022. On the other hand, the banking sector is expected to reach 90% by 2022.

As technology advances, the success rate of bot interactions in the banking and healthcare industry is going to rise.

Other Channels

When it comes to generating revenue, SMS bots are less successful than app-based bots. But they can be proved to be great for mass messaging.

The best example would be the government making use of chatbots in the case of emergencies.

According to Juniper research, providers of A2P messaging will make use of bots as a means of passing information to customers.

The Cost of Lead Acquisition Reduced From $150 to $5: Know How?

Facebook ads can come heavy on your pockets. But you still have to rely on it for both big and small business marketing.

But luckily, there is a way that can reduce the costs of per lead by 30x to 50x.

If you pay $4 per click, your total cost of per acquisition for leads amounts to something around $200.

Let me share with you guys the epic story Larry Kim who went from $150 to $200 per lead to only $5 lead.

This was made possible by Facebook click-to-messenger ads which are powered by MobileMonkey.

Case Study

The problem of higher costs of leads is a common one and it faced by almost every Facebook advertisers.

You guys may already know that Facebook ads are optimized to drive traffic to your website. In this case, you are required to pay for every website click that you get.

This may cost you around $3 to $5 per website click whereas the conversion rate is only 2%.

If you do the calculation, you will realize that for 100 clicks you are required to pay nearly $300 to $500.

Now consider that out of 100 visitors only 2 of them converts. This will lead to $150 to $250 for each CPA.

Benefits of send-to-messaging Facebook ads

Some of the main benefits that you can get include:

•    The cost per lead can be cut down to 30x to 50x.

•    You can also turn every interaction into a contact.

•    It leads users to an engaging and mobile friendly conversion funnel experience.

Above all, you can easily set-up the bots to interact and reply to the visitors who click on your send to messenger ads. This makes ad hosting on Facebook easier.

Setting Up Click-To-Messenger Mobile Monkey

Now let me tell you guys the steps to set-up send-to messenger ad. This includes only 5 easy steps when you do it with MobileMonkey.

1.    Creating a messages ad in Facebook ads manager

To create a new ad campaign for Facebook ads manager, you need to first set your campaign goals.

Now select ‘messages.’ This will allow Facebook to send people to your bot experience in Facebook messenger.

Facebook will do so every time when someone clicks on the ‘send message’ button.

2.    Setting up your placement, budget, ad set audience and schedule

If you are into Facebook advertising, you are already aware of the ad set. Now enter your audience targeting.

You need to select an audience according to your custom audience.

You also need to specify the location, language, gender, and age of your audience.

3.    Creating the Facebook messenger bot response in MobileMonkey

From MobileMonkey, open the chatbot Facebook page for which you want to create an ad. Go to the chatbot builder in order to open an already existing group or to create a new one.

Since groups are really important for you to organize your Facebook chat pages, it is better to have a group for each of your Facebook ad.

Make a new page and make sure that you use a descriptive name for the same. Use the Quick Question Widget to add a text along with the response button. When a user clicks on the ‘send message’ button, this text will be shown to them.

4.    Creating messenger ad code in MobileMonkey

Once the chatbot is ready, your users will get the experience when they click on the Facebook ad.

Go to messenger ads and click on ‘new messenger ad.’

Give a name to this ad code so that you can find it out from your ad list. Now select the chatbot page you are using from the given menu.

Select the button ‘send a test to me’ in order to make sure that the user gets to see the right text when they click on the ad.

In this step, you need to copy the URL parameter.

5.    Copy pasting the code from MobileMonkey to the Facebook ad Editor

In Facebook ads manager page, locate the ‘tracking’ section. You will see the URL parameters field where you need to paste the code.

Visit the messenger setup section and select the option ‘create your own welcome experience’ and ‘custom template.’ Now click the option ‘create new.’

Click the JSON input option and copy and paste the ‘Messenger setup JSON’ code from MobileMonkey.

Once you are done with all the steps, you are all set to preview your Facebook and in the messenger.

It can be said that automating your business on Facebook have become easier with MobileMonkey.

Chatbots are working wonders in the customer service industry. It is not only improving the customer experience but also opening up new opportunities.

If you found this article helpful, I would request you guys to share it.

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