As per the business leaders, chatbots increase sales by an average of 67% and are used by 36% of companies to increase lead generation.

Chatbots have been out for a while, but in 2016 they became popular among businesses. Why?

Well, it’s because investing in chatbots can give you the highest return on investment as it helps you reach customers more effectively and affordably. Today, businesses create and implement chatbots to assist and automate customer support. To develop effective chatbots, you can hire AI developers.

For details about chatbots, continue reading this article.

Types of chatbots

If you’re thinking about creating a chatbot for your business, then here we’ve mentioned four options for you:

1. Rule-based chatbots:

Decision-tree bots is another name for rule-based chatbots. As the term suggests, they follow a set of predetermined rules. The issues the chatbot is relatable with and capable of solving are based on these rules.

Rules used by rule-based chatbots can be very simple or complex. However, they can only respond to queries covered by pre-defined guidelines. They can only function and work in the situations you train.

2. Contextual chatbots:

Using machine learning (ML) and natural language processing (NLP), a contextual chatbot can provide human-like conversation while providing case-specific feedback and current context.

Moreover, the contextual chatbot is renowned for its capacity to memorize preferences and customize communications with clients. They can answer questions like ordering takeout, purchasing tickets, assisting with supply chain operations, and much more.

3. Keyword recognition-based chatbots:

A chatbot with keyword recognition is a more sophisticated tool than one with multiple-choice action buttons. This bot can identify pertinent keywords in users’ queries and offer relevant solutions.

4. Conversational AI chatbots:

Conversational chatbots now respond in natural language with no more robotic voice. These bots use deep learning and natural language understanding to record, interpret, and analyze user voice commands.

Additionally, you can help conversation AI chatbots comprehend your audience’s needs and further train them with relevant cases from your industry.

Which sectors should think about developing an enterprise chatbot?

Here, we’ve mentioned the industries that can take benefit from developing an enterprise chatbot:

1. Insurance

Chatbots can perform several tasks to shorten wait times, simplify insurance-related procedures, and improve customer service.

That comprises:

  • 24/7 responses to policyholder questions
  • Facilitating the filing of claims
  • Presenting new clients with personalized quotes
  • Providing pertinent solutions and cross-selling to clients
  • Spot the suspicious partners

2. Real estate

Regardless of the time or day that potential clients visit the website, real estate agents can respond to them using chatbots. Bots can converse with users in a variety of languages and in their unique way.

  • Make and update appointments for estate viewings
  • Send updates
  • Respond to buyer, seller, and renter FAQs
  • Create client profiles
  • Suggest apartments based on the needs of customers

3. Hospitality

Many hospitality brands use chatbots to boost direct bookings and raise client satisfaction. Even international visitors can get assistance from them in a variety of languages.

  • Aid in comparing properties and rooms
  • Help clients in their native languages
  • Automate reservations
  • Provide reminders
  • Revisit reservations
  • Follow up with visitors

4. Banking

Customers today expect better services from banks. They anticipate quickness, customization, and low-effort interactions. Many banks are opting for banking chatbots.

  • Separate investment risks
  • Obtain financial guidance
  • Assist people in selecting mortgage loans
  • Avoid fraud

5. E-commerce

The sector that gains the most from modern chatbots is e-commerce. Customers no longer need to visit a company’s website to purchase.

  • Assist clients in tracking orders
  • Customize product suggestions
  • Area FAQs
  • Send shipping acknowledgments

Lastly, consult or hire a chatbot software development company for effective chatbot development.

Final thoughts

Creating an enterprise chatbot is an excellent way to beat the competition, provide outstanding digital customer service, streamline procedures, and boost customer engagement and loyalty.

We hope we’ve given you all the detailed information about the chatbots. We suggest you hire AI developers to create effective chatbot solutions.

Thus, think about creating chatbots today!