How Chatbots Increase Brand Value and Customer Loyalty

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In our hyperconnected digital world, chatbots have a lot to offer to build brand equity and increase brand value.

We live and communicate in a global village, with people more interconnected than ever. Brands are shedding their sterile, corporate images online and providing casual, boutique services akin to those you’d find at your local corner store or farmer’s market. Because they exist on communication platforms, chatbots are perfectly positioned to help you achieve consumer loyalty and provide valuable experiences. This, in turn, strengthens your brand’s value.

Specifically, a good chatbot can make your brand …

  • More social and connected to consumers
  • Authentic
  • Focused on customer needs and interests
  • Up to date on the latest tech and trends

Let’s take a look at some key examples of how chatbots increase brand value and perception. 

Stay connected and personalized to build brand equity

One of the most import benefits to having a chatbot is its focus on personalization and open communication with the consumer. As customers talk to a chatbot, the brand can learn from and anticipate their needs, then act based on them. When given a personality, those bots can operate like personal assistants or friends, becoming essential companions in the user’s day – and when they perform that role well, customers will respond.

This is especially useful for brands in industries where forming a relationship with the consumer is key. Imagine if you’re in the health care business: One of the biggest complaints of the industry is how patients don’t feel they have enough time to speak to a physician. Add to this the hassle of waiting times and scheduling an appointment, and going to the doctor to deal with a medical problem big or small becomes a chore.

So, how could a chatbot add value and improve customer experience for a health care brand? Look at examples like HealthTap’s Dr. A.I., which provides patients quick and easy access to health information via conversational UI. It’s just like talking to a doctor; one can imagine how health care brands could similarly use a bot to inform patients of health concerns, remind them to take meds or easily schedule an appointment. Because the need is there, such a bot would give those businesses a competitive edge. 

Build brand equity with the latest tech

Chatbots are a bit hip these days, so if you can pull one off correctly, you signal to customers young and old that you’re committed to staying ahead of the technological curve. Because companies are just now beginning to discover why and how to use bots, having a chatbot that performs well and offers a unique experience can make you a leader in your field.

In an age of connected toys like Mattel’s Hello Barbie, children are already getting accustomed to conversational UI. When they transition to social media and messaging apps, they’ll look for brands they can communicate with just as they do with their peers. A brand that positions itself as a conversation partner by offering chatbots is more approachable and attractive to digital native consumers. Failure to do so might make your brand seem behind the times and unable to adapt. 

Make plans and improve customer experience

Chatbots can enable your brand to provide unique experiences that weren’t possible before. Consumers want experiences, not just things – and if your brand is focused on commodities, you can use your chatbot in creative ways to offer experiences that keep customers coming back.

Few examples are better than Absolut’s chatbot, which got users out of the house and practicing healthy drinking habits. The bot began by finding nearby bars for users to patronize. It then offered a menu of Absolut cocktails for them to try. Upon selecting a drink, the bot gave the user a code that they could then redeem at the chosen bar to get the drink for free. After the outing, the chatbot offered a free Lyft drive.

What’s notable is how the bot took care of every detail for planning a nightly outing or event: finding a location, choosing a drink and arranging for a ride home (that second point is important when it comes to a night of drinking – a very smart inclusion). It provided a seamless experience in enjoying the product with friends. Because we often set plans with friends through messaging platforms, the brands that offer fun and valuable experiences are more enticing to consumers.

How chatbots increase brand value depends on analytics

If you have a chatbot to improve customer experience, you’ll need to iterate and perfect it over time. With chatbot analytics, you can track key metrics to gain insights on users and learn how to improve the bot. Chatbot retention rate is an important metric for loyalty; by seeing how your top users use the bot, you can ensure a smooth and enjoyable experience for everyone.

Watching conversations as they happen in real time and comparing them to historical ones also helps you gather data on how your chatbot is used. By assessing the number of conversation steps in a given conversation, you can see how well your bot accomplishes a task or holds user attention. Both are important for providing a good customer experience.

When you make your bot more attractive, useful and fun for customers, they’ll keep talking to you. Therefore, it’s essential that you listen and work each day to make your bot perform better. When users are continually involved, engaged and invested, your brand will be stronger for it.

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