Chatbots: More than a Buzzword

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Posted by Bojana Lazarevska on 01 Aug, 2019

You may have heard a certain buzz around chatbots over the last couple of years – and for good reason! The Future Platforms team recently hosted a Spotlight Series event, Exploring the Business Benefits of Chatbots, to discuss the hype around these virtual assistants and explore several values they can bring to a business.

At Future Platforms, we’ve designed a framework to help us better determine your business needs for a chatbot. Reach out today to discuss your chatbot goals and to get started on a business plan.

Future Platforms - Exploring the Business Benefits of Chatbots
Attendees at Exploring the Business Benefits of Chatbots

Some of the key takeaways

Hosted at The Gherkin, attendees were treated to presentations from Future Platforms’ Managing Director, Adam Croxen, Head of User Experience, Phil Twine, and Technical Director, Ben Strawson. Our speakers discussed the business benefits of chatbots, how you can create a compelling user experience, and how to begin building the perfect bot. Keep an eye out for our event highlights video, which we will add to our blog and will give you better insight into the presentations. 

Adam Croxen kicked off the event by giving us a background into chatbots and exploring their future impacts on businesses:

Chatbots are here to stay

There are numerous different types of chatbots, all of which can serve different industries. They’re not just a passing trend either, with Gartner predicting:
“By 2020, customers will manage 85% of their relationship with the enterprise without interacting with a human.”

Businesses can save big

By integrating chatbots, businesses could save a significant amount in spend on customer service calls each year and, consequently, increase their revenue. IBM reported that businesses spend up to $1.3 trillion on 265 billion calls per year, which means some companies could see a saving of up to $1.105T.

Combined benefits

It’s not just businesses that benefit from chatbots but customers too. Clients become more engaged, benefit from a more personalised experience, and receive speedier responses.

Future Platforms - chatbot event

Where businesses fail

The biggest benefit of a chatbot, when done right, is its ability to hold an open and honest conversation with customers, which is more personal and clearly conveys the company’s voice.

If they’re not designed right, however, chatbots failed to provide the right kind of experience and, therefore, businesses would not see much of a return on investment. Phil Twine stressed how important it is to create a compelling experience by considering your users above all else. Here are some of the tips he shared on the day:

  • Create a character – your chatbot should be reflective of the tone of voice of your business, and feel as if you’re chatting to a “real” person.
  • Create conversation flows and clearly define how you want your bot to interact with users.
  • Define interactions clearly.

Build from the ground up

Finally, Ben Strawson explained the right way to start building your bot:

“Start simple, conduct lots of user testing, and use your data findings to understand customer pain points.”

The most important consideration businesses need to make is to ensure their responses were high-quality and that the intended input was clearly interpreted.

This is why, at Future Platforms, we have a clear framework to validate your business needs around chatbots, and how we can help you build a detailed business plan. Get in touch with us today for a quick consultation to get started on your plan and discuss your business goals.

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