SigmaWay Blog

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How businesses are winning with Chatbots

No more will you hear about Chatbots being the next big thing. They’re already here and here to stay! Top domains where Chatbots are proving beneficial are:

1.      Ecommerce and Online Marketing: Messenger Chatbots have higher open rates and click through rates than Email, as a result of which many online marketers have begun using Chatbots as a way of getting website visitors’ information. Redirecting the customer to the correct sales channel, content gamification and relationship marketing are additional benefits it brings to this domain.

2.      Customer Service: The best use of technology right now is in automating the easy questions that get asked over and over again with a live agent takeover whenever the bot cannot answer a question. When the bot is stumped, it automatically sends the questions to a live agent, listens to the answer and then learn how to answer such questions in future.

3.      Travel, Tourism and Hospitality: Bots in this space are being successful on a number of critical fronts- they increase revenue, increase customer satisfaction, increase engagement and brand loyalty and lower costs via automation.

4.      Banking, Financial Services and Fintech: First and foremost, bots can help warn you about issues and dangers with your bank account. Bots can give you suggestions on what to do with your money- it can give you a cost breakdown of where you are spending or how can you move money around in order to save more money. Banks are also using chatbots internally to help automate tasks.

5.      HR and Recruiting: Chatbots can engage applicants and pre-screen them and make sure they’re qualified by asking a few questions. They also help in easing the process of on boarding new employees.

 

What other uses could be coming next? Read more at:

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Chatbot Effectiveness and Efficiency

Chatbots are proving to be far more effective than people had thought of. They are acting as a personal assistant without any additional needs. They are completely virtual so they don’t need any physical space. They are great tool for gathering and processing feedback from customers and other parties involved. They even provide latest news, and reminders set by the user. They are very user friendly. In process automation, chatbots play a big role. Along with a feedback system, they even act as a research system, providing data on what customers require. Chatbots are easy to create and establish. Read more at: https://www.entrepreneur.com/article/303554

 

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Business Automation through Chat Bot

Nowadays, business value increases when you decide to go for automation. To automate business, you have to create chat bots as it is the core driver. In layman’s term, a chat bot is mode of communication between computers and people to have a meaningful two-way dialog. The chat in chat bot is the interaction that makes you feel like a real conversation, and the bot is the robotic part that makes it clear to the user this is not a person-to-person interaction. The main actions of a chat bot is to manage routine, repeatable task that do not require people at both ends of the connection. Read more at: http://it.toolbox.com/blogs/voip-news/why-chatbots-represent-new-value-for-your-business-78546

 

 

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Chatbot And Monetization Strategies

Chatbots are new in the industry and you can make a lot of money from it whether you are an entrepreneur or a company. Chatbots can understand and utilize user psychology to your advantage. Bots can give service in the B2B business. In platforms like Facebook, you can advertise your product or service through bots. You can also generate leads for your business. Read more at:https://www.entrepreneur.com/article/289973

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Bots and their use in business

Many marketers have started to think that how they can use Facebook's Bot platform in their business. There are many ways chatbots can be used for the advantage of the business. Chatbot can offer self-service options to your customers which will bring a positive view of your customer care team. You will able to build most effective marketing campaigns with the in-depth user data. You will also able to introduce new innovative promotional opportunities.Read more at: https://www.entrepreneur.com/article/290085

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Someways Startups Can Apply AI

Artificial Intelligence startups are reaching a new record high with gaining good deals and investments from tech giants. There are four ways you can apply AI to your business. 1.Analysing various raw data you are able to find a cluster of similar minded people and get to know your next customer. 2.You will able to see how people genuinely using your product. 3.You will be able to get inside the user’s head using the user’s data pattern. 4.Making a digital assistant you will be able to provide affordable and always-on support.Read more at:https://www.entrepreneur.com/article/292286

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All About E-Retail After 2020

India’s retail market is predicted to double from $600 billion in 2015 to $1 trillion by 2020 as per IBEF. The growth in e-commerce influences development in the retail sector. Faster internet speed, reliable telecom operators, increased adoption of online services plays a key role in gaining that tremendous growth. In upcoming years, we will witness advanced technologies and innovations to revolutionize the customer’s shopping experience and collect more online sales.AI based chatbots will be the future of customer service. As consumers are gaining digital prominence mobile wallet will be crucial for cashless transaction. Read more at:https://www.entrepreneur.com/article/293462

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The Importance of Bots

Bots are the update of apps and websites. Bots will improve the way we use mobiles and computers. Bots will make it easier and faster to get things done. Bots also solves the download problem caused by apps. For developers and businesses, bots dramatically reduce the cost, time of developing and marketing their services. Read more at: https://www.entrepreneur.com/article/278001

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Chatbots And Social Media Marketing Strategies

Nowadays, marketing is not possible without social media and the chatbot has become the newly-adopted social media tool. Chatbots helps in your social media marketing strategy and also increases website traffic and sales while providing Artificial Intelligence assistance which in turn will help you to communicate better. Use chatbots as an analytical tool and optimize it for conversions. Read more at: https://www.entrepreneur.com/article/291997

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Chatbots And Financial Services

An Investor always looking for innovative, cost-effective, tech- enabled modes of customer engagement and chatbot is perfect for that. It can potentially help customers better understanding Financial Services via interactive discussions on pricing, terms and conditions, etc. AI powered chatbots can give recommendations to users about the best financial services and opportunity analyzing user interaction and requirement data. Using chatbot we can ensure security of user data and cost benefit analysis of user data. So, it will be exciting to see more chatbot innovations in financial inclusion. Read more at:http://partners.wsj.com/metlife/multipliers/articles/talking-the-talk/#.WSLz8PPm2TE.mailto

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E-commerce in India: A Study

India is adding around six million new entrants every month to its internet user base and is a huge market for both retail and internet industries. E-commerce players are likely to hit saturation levels on new customers. Opening physical stores would become a trend to address the twin challenge of saturation and marketing costs. The next big thing is the Virtual Reality. The way we shop will be easier because consumers will interact with AI chats bots and Unified Payment Interface (UPI) will simplify transaction. Read more at:https://www.entrepreneur.com/article/288440

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Some chatbot platform tools

One can make an AI powered Chatbot in a very short period of time. You just need to figure out what problem you are going to solve with your bot, choose which platform your bot will live on (Facebook, Slack, etc.), set up a server to run your bot from, and choose which service you will use to build your bot.

Here are some of resources to get you started.

Platform Documentation:

1.Facebook Messenger Platform, 2.Telegram, 3.Discord , 4.Slack , 5.Kik etc.

Some third party Services can be used to build Chatbots. They are:

1.Chatfuel, 2.Botsify:Botsify, 3.ChattyPeople, 4.FlowXO, 5.Boikit ,6.Beep Boop , 7.MEOKAY, 8.Wit.ai ,9.Api.ai ,10.Octane.ai etc. To know more about these, read: https://www.entrepreneur.com/article/289788

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Effective uses of Chatbots in marketing and business development

A recent report by EMarketer states that 1.4billion people interacted with chatbot in 2015.So, chatbots have huge opportunities for future marketing and some effective uses of chatbots are: 1. Sell a product or service, 2. Make payments easier, 3. Gain customer insight, 4. Personalize marketing, 5. Increase Engagement, 6. Qualify your Leads. Read more at: https://www.forbes.com/sites/sujanpatel/2017/01/21/6-effective-uses-for-chatbots-in-marketing/#7afe2f0f3f48

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Introduction To Chatbots And Its Future

A chatbot or talkbot is a computer program which conducts a conversation via auditory or textual methods. The service could be ranging from functional to fun, and it could live in any chat products like Facebook Messenger,Text Messages, etc. There are two types of chatbots,

1.Chatbot that functions based on rules and  2. Chatbot that functions using machine learning or AI.  Chatbots  are  gaining popularity  as people are using messenger apps more than they are using social networks. To know more about chatbots, read: https://chatbotsmagazine.com/the-complete-beginner-s-guide-to-chatbots-8280b7b906ca

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Can a chatbot tackle everyday issues?

Budapest-based Hungarian start-up UXstudio has created a chatbot called Nuru. The app can help smartphone users in Kenya and Ghana in four different ways: agriculture, classified ads, finances, and healthcare. Ghanan start-up Esoko offers text-based market price information for farmers, so they can sell their crops at a fair price. The Kenyan TotoHealth service helps women with text message notifications and advice during their pregnancy. Nuru will ask you whether you have seen a doctor and If you have not seen one, it can suggest doctors in your area. If the user asks for job suggestions, the app will list all the opportunities nearby.

Since chatbots work like the current services already in use in Africa, the technology can streamline solving day-to-day problems and make information more accessible for users. Read more at : http://www.zdnet.com/article/nuru-ai-chatbot-helps-to-solve-day-to-day-problems-in-africa/

 

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Taking insurance to the next level with the help of technology

Chatbots are fast becoming a business imperative for businesses that want to engage with their customers. , with artificial intelligence and natural language processing, online chat is becoming the preferred way to communicate with the brand for many users who want an on-the-spot answer to their query. It partnered with enterprise-focused chatbot developer SmallTalk to provide tailored insurance policies for small businesses via a social channel. 

Chatbot technology is redefining the way we view and engage with some of the largest and most traditional industries, including insurance. Palo Alto, Calif.-based start-up Next Insurance has launched an insurance chatbot to enable small businesses to quote and buy insurance via a Facebook Messenger chatbot. Thus bringing simplicity, transparency, and easy access while buying insurance.

Read more at : http://www.zdnet.com/article/next-insurance-launches-facebook-messenger-chatbot-to-replace-the-insurance-agent/

 

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