When little whispers of the Coronavirus turned into deafening roars spanning across continents, no one was ready.
When the World Health Organization declared the virus as a public health emergency of international concern, no one was ready.
When countries started issuing nation-wide lockdowns back in April 2020, no one was ready.
What started as a three-week lockdown back in March 2020, has now led to a standstill in many nation’s economies. It has created uncertainty not only amongst people, but amongst businesses as well. While some of us are returning to office, there’s no telling when we’ll go back to “business as usual.”
With many industries suffering a massive blow, we had to ask -
Are there any industries that are thriving in lockdown? Was this secretly a blessing in disguise for some? How can one participate in this new revolution and enable businesses with the current push towards digitalisation?
Enter technology and the chatbot industry
Because there was a lack of in-person interactions, technology swooped in and filled the gaps.
No cinema? No problem! Just use Netflix!
No malls? No problem! Just order it through Amazon.
No open restaurants? No problem! Just order meals online.
It was a huge change that hit everybody, but as quickly as it came, people also started to get accustomed to it. Online traffic surged within a span of days. Established online businesses started to grow. Companies began to realise that there was a need to automate repetitive tasks to give employees the time to focus on core business activities and improve efficiency.
But the industry that’s thriving the most in lockdown has been the chatbot industry.
Did you know that the chatbot market was projected to reach $1.25B by 2025?
Since AI was beginning to be looked at from a new lens, Conversational Automation services were beginning to get deployed across multiple social media platforms. The perks were also beginning to get noticed, measured with simple metrics like customer satisfaction, brand loyalty. What initially began as a huge investment also started to yield a higher ratio to returns. There were very few good conversational automation enablers in the pre-pandemic space and as the demand for such services has increased so did the technology and the ROI in such businesses.
Why are chatbots thriving in the current economy?
While people can get infected with COVID-19, machines won’t.
AI Chatbots can eliminate the need to physically come into the premises. Organizations that haven’t migrated to digital are struggling to get the job done, while the ones that have are now generating revenue in unexpected ways.
Any industry can leverage the power of chatbots. From helping businesses reaching out to employees on intra-networks, to automating marketing campaigns and enabling customers in their decision making processes, these bots can do it all.
Here are a couple of reasons why chatbots are being deployed across the globe
By taking up routine, monotonous tasks, chatbots improve productivity by a landslide. Need to go over a policy? No worries- The AI chatbot can parse through your knowledge base compiled of all company policies and files to find the one you’re looking for. What would take between 15 to 30 minutes to find, an intelligent chatbot can resolve in seconds, which allows employees to focus their energy on more demanding tasks.
Chatbots have also become more accessible in the market, now available at more affordable prices, and even for free with certain platforms!
The volume of customer queries has skyrocketed since the pandemic started. It's caused an overload that no business could expect. Businesses have struggled to address these queries, because let’s face it- the number of queries is overwhelming. Remember, your employees are also facing this so we must think of innovative ways to lighten their load.
With an uptime of 99.9%, chatbots acknowledge these customers in real-time and can even provide solutions. Even a simple response is enough for a customer to recognize that their voice is being heard.
A AI chatbot doesn’t just help customers, but they lighten the load off your agents as well. Instead of your employees feeling pressured to respond immediately, the bot takes care of it in an instant and it gives your live agents the time and the energy to respond in a more thoughtful manner when the query gets too complex.
The pandemic has left a lot of customers in the dark. Some of our favorite brands might have deserted us, so for a company to swoop in and build that trust again has become a challenge. Even keeping current customers engaged is a challenge. How do we replicate an in-person experience online?
The honest answer is, you can’t, but you can always create a new, innovative experience with a chatbot. As the AI chatbot gets to know your customers, you can begin creating personalized experiences tailored to your customers.
Voice-activated chatbots also amplify this and can transform your chatbot from being “just another chatbot,” to a digital virtual assistant to your customers. They have the potential to close the gap between your brand and your customer as your bot interacts with them more.
How you can get in on the action
As we’ve mentioned, businesses are now beginning to realize that chatbots are a game-changer, and so they’ve started to integrate them into their infrastructure. It's becoming more accessible, with businesses starting in less than 10 minutes.
You don’t have to build a chatbot platform from scratch to get started, you just simply have to get Engati.
Become a white label partner
Engati is the world’s leading multilingual no-code chatbot platform, established globally across 186 countries. Engati's platform is robust and provides scalable functionality across all domains.
Integrate our platform with your business by investing in a white label chatbot solution. Build a strong, reliable platform with Engati and watch your business flourish. You get access to the entire platform and your get to deploy and resell it under your name. Add your own logo, your own colours, and keep your brand identity intact.
Become a preferred partner
Engati’s preferred partnership plan helps you ride the automation wave with hassle-free flexibility. It's like becoming a White Label partner- no profit-sharing arrangements, and you still have control over your pricing model. You’ll also reap the same features, like omnichannel support, all 54 languages, and our powerful e.Sense proprietary NLP engines, but with an Engati Partner portal instead.
You'll receive the same extensive training from the same bot experts. We'll also provide you with comprehensive pre-sales support to help you pitch our services to your clients. In addition, as a strategic partner, you’ll also have access to our lead directory thus powering you to become a strategic solutioning expert in your region. Get featured in our partnership directly, and our leads will come flying to you.
Along with a lighter monthly subscription fee, you’ll get access to Engati’s plans where you can up-sell at a price of your choice. What’s more? You’ll get 1 free WhatsApp number, and an additional discount on the first 3 subscriptions you sell to your customers. Interested?
Our solutions allow you to make the chatbot market more accessible to your local market, so get in on the action, and register with Engati to get started.