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There was a time when many of the technologies we use today were unimaginable. One after another, the technological tide throws us a curveball. The conversational platform is one of the latest additions. Nowadays, there is a lot of talk about these kinds of platforms that businesses use to communicate with their clients. Most of us have a general notion of what a conversational platform is, but do we fully understand what it is?
Today, we will learn everything there is to know about conversational platforms, including trends, the best platforms, work procedures, usage, benefits, challenges, and more. So, without further ado, let’s get started.
What are conversational platforms & how do they work –
Conversational Platforms act as an alternative to human interactions through computers with the help of AI technology.
Organizations incorporate conversational platforms into their websites, pages, and other marketing platforms to cut costs and provide their audiences with ongoing service 24 hours a day, seven days a week.
In business tech support, these real-time chats have shown to be quite beneficial.
IT service management and customer support are more accessible and successful since they may use chatbots and other conversational platforms instead of engaging a crew for tech support service.
Understanding Technical Support
Tech support covers a massive number of tasks related to customer support.
Let’s say your customer has purchased a product or service from your company.
The customer will reach out with all kinds of issues they are facing with the product alongside inquiries.
Your company is then expected to provide them with sufficient and helpful information designed to meet their needs.
Actively providing tech support helps a company build loyalty among consumers and stand out as a reputed one.
Outsourced technical support can be provided through the telephone, the official company website, app, or social media platforms.
How do Conversational Platforms Work?
As industries strive to make the entire customer journey painless and straightforward, they are implementing new modern technologies that allow them to customize the customer experience and gain the ability to personalize interaction with their audiences.
These platforms are some self-service robots that can answer questions, meet requests, and provide information.
According to KLoBot, conversational platforms like chatbots are expected to be included in more than 50% of organizations’ marketing strategies by 2025.
Meanwhile, the global chatbot market is expected to reach USD$1.25 billion by 2025, growing at a CAGR of 24.3% (Cognizant)
Keeping Up With the Trends
Conversational platforms aren’t just about digitizing communication with the audience, it’s also about synchronizing digital efforts with a human touch.
The bot takes over all simple interactions and customer support with the help of human service experts.
These digital support systems are programmed with necessary data, vision, and customer feedback. So, it’s better to make the best use of it.
Since bots can serve communication purposes just as you command, the industry’s goal is to digitize the system by using conversational platforms like bots and engaging people where needed.
This way, businesses will be able to utilize most of their workforce and minimize costs, enabling organizations to set bigger goals with their available resources.
A 360-degree customer view –
With a combination of technology and human involvement, bots can portray a scenario of how the whole customer journey is going and what they expect from businesses. Business owners can use these insights to set their future strategies and work more on improvement.
At present, many businesses and industries are using conversational platforms to keep a continuous connection with their users.
But as these digital technologies can provide us with 24/7 support, chatbot users are fiercely increasing.
Best Conversational Platforms:
Every new addition starts its journey with practical use. Conversational platforms from the very beginning have shown successful outcomes.
Now, as businesses worldwide find these digital platforms valuable and successful in every aspect, their use is increasing steadily.
Research suggests that 2022 will be the year of chatbots or conversational platforms resulting in automation.
Kai
Kai gets our first mention.
This conversational chatbot matches most of the needs of a business that wants to provide its customers with 24/7 customer support.
This platform is a mentionable special for banking and finances.
Through this chatbot, you can enjoy easier integration and improve the overall customer experience.
Features:
- Characteristics of Modern Architecture
- An Agile development environment
- Comprehensive AI technology.
- Industry-specific Knowledge
- Cross channel, multi-modal reach
- A flexible business model
REVE Chat
REVE Chat is an omnichannel live chat platform that can seamlessly engage with the audience on any preferred channel. It has live customer care interaction tools and a video chat feature that personalizes customer communication.
This is a ready-to-use chatbot platform that works without a hitch.
Features:
- Visual Flow Designer
- Human Handover
- Sentiment Analysis
- Fallback Option
- Machine Learning in Bulk
- Bot Analytics
SAP Conversational AI
SAP Conversational AI, developed by software giant SAP, is one of the most powerful chatbots in the industry.
This platform is equipped with natural language processing (NLP) technology, allowing users to maintain a human-like engagement with their audience.
You can operate even the most complex conversations correctly with SAP Conversational AI.
Features:
- Native low-code chatbot platform
- High-performing natural language processing (NLP) technology
- An easy-to-use interface for power users and developers in the business world.
- Advanced analytics dashboard.
Kore.ai
Kore.ai is a conversational platform that can handle practically all of a company’s customer service needs.
With automated engagement via digital virtual assistants, this conversational platform effectively increases reaction time.
All AI-enabled support may be tested, created, and deployed, and customers can benefit from customer integration. It is quite beneficial for most businesses.
Features:
- Proprietary Multi-Pronged NLP Approach
- GUI-Based Dialog Builder and Task Execution Framework
- Bot Training for Business Readiness
- Omnichannel Presence
- Bot Analytics and Dashboard
- Bot and User Administration
- Multi-Layered Security and Compliance
Mindsay
Mindsay is a conversational chatbot that cuts customer wait time by 99 percent without requiring any programming.
For your company, this chatbot will handle thousands of instances and react to the most complex queries across several channels. You can easily be where your clients are using this platform.
Mindsay has made it easier than ever to integrate customer support and create seamless experiences for both sides.
Features:
- Reporting/Analytics
- API
- Third-Party Integrations
- Chat/Messaging
- Reporting & Statistics
- Customizable Branding
- Live Chat
- Multi-Channel Communication
Usage of Conversational Platforms
Conversational platforms have revolutionized businesses worldwide by providing them with dynamic ways to address customer inquiries.
They provide value to businesses through good connections with their consumers. If you plan to use a platform that automatically connects with clients and can support them 24 hours a day, 7 days a week for swift resolutions, you’ll know how to use it.
You’ll want to scale and streamline the business’s processes.
Here are some great uses for Conversational Platforms.
Conversational platforms, which provide a variety of applications to answer client inquiries, have revolutionized businesses worldwide.
How will you plan to use a platform that automatically connects with clients and can support them 24 hours a day, 7 days a week, to swiftly fix problems if your company has one?
Let us know the most prevalent ways organizations now use conversational platforms.
- Businesses provide customer service 24 hours a day, 7 days a week.
- Responding to inquiries
- Problem Resolution
- Creating your personalized database
- Providing product suggestions based on the search histories of visitors
- Directing customers to their pages
- Getting customers to enter the sales funnel
- Convincing the customers to purchase their products
- Providing great deals and discounts
- Saves time spent in Setting Appointments and Gathering emails
- Recognizing the concerns of customers
- Providing the most effective solutions
- Getting feedback from customers
- Effective market research
Benefits of Using Conversational Platforms:
Although we’ve mentioned 24/7 availability multiple times, the advantages of conversational systems or chatbots aren’t restricted to their availability.
According to all studies and research, here are the general benefits that these platforms bring.
- Chatbots are less expensive than hiring a customer service representative
- Conversational platforms are low-friction platforms that offer algorithm-driven recommendations to consumers
- An Increase in Sales
- A seamless, safe, and quick Customer Journey
- Internal communication is effectively accelerated
- Chatbots can help new employees learn about their jobs
- It encourages customers to interact with the company
- Improves Consumer Satisfaction
- Obtaining new clients
- Gaining a better understanding of your clients
- Conversations can be carried out in various languages using this conversational platform
- These solutions help you customize the consumer experience by storing and leveraging interaction history
Critical Challenges for Conversational Platforms
Like most new technologies, conversational platforms too have few challenges in developing a place in business functions. The key challenges are:
- Chatbots are not able to think on their own, so it isn’t easy to understand the customer’s right intent. Because of that, chatbots often misunderstand the requests.
- Execute inaccurate commands: As bots often misinterpret requests, it’s a typical scenario for chatbots to execute erroneous commands.
- It is unrealistic to expect to comprehend all of the emotional aspects of a digital platform. Of the time, chatbots cannot fulfill customers’ dynamic demands.
- Don’t understand cultural dialect: Chatbots or conversational platforms are still not capable of understanding accents or cultural dialects to understand what the customers are meaning.
With the negatives in mind and also to keep pace with consumer expectations, businesses are increasingly concentrating their efforts on developing chatbots that are indistinguishable from humans using machine learning (ML), artificial intelligence (AI), and natural language processing (NLP).
EndNote
Conversational platforms, a new technological advancement, have brought a revolutionary change to most businesses’ strategies. We can see a very dynamic future for this platform where it will become more conversational with a lot of next-level development.
We can hope to see conversational platforms and voice assistants swiftly becoming commonplace at home and at workplace, eventually becoming an integral part of our lives.
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