Chatbot solutions continue to be on a rapid rise, including and especially in business contexts. Most frequently employed in sales and customer service, the global chatbot market is growing by almost 25% every year, leading to potentially significant reductions in repetitive tasks needing to be performed manually.
And yet, especially for many businesses new to the technology, chatbots don’t come without challenges. Knowing that the AI revolution demands an embrace of the technology is one thing; knowing where to start, and how to employ that technology the right way, is entirely different altogether.
Part of the process is sifting through the noise of providers all looking to jump onto the trend and make a profit. After all, one major reason why the market is growing so quickly is many companies are beginning to offer their own chatbot solutions. A thorough understanding of the space is vital to make an informed decision that can tangibly benefit your organization.
Fortunately, getting to that point is relatively straightforward. You must know what to look for. Considering these 10 factors can help you identify a chatbot solution and provider with a high chance of driving your company to the success that embracing the technology can bring.
1. Cost and Pricing Structure
First, and perhaps most fundamental, is the financial investment. Chatbot solutions can range drastically in cost, from technologies for small businesses and startups to tools designed for large, global enterprise organizations.
To find a solution that matches your budget and needs, start by analyzing the pricing model. Here, you may encounter a number of options:
- Flat subscription, typically monthly or annually, that provides full access to the platform. Some subscriptions come in tiers to account for company size and needs.
- Per-user pricing, which builds on the number of users you intend to have in the system. For startups, the cost will be relatively low, while large organizations with larger teams will need to pay more.
- Per-message pricing, which accounts for the volume of requests you might receive. Here, scaling may become difficult as you look to stay efficient while growing your customer base.
Of these options, time-based subscriptions tend to be most straightforward and easiest to plan around. But depending on your situation and intended use case, the other models may be valuable to consider as well.
2. Type of Chatbot
Traditionally, most chatbots are rule-based. Certain words and phrases trigger a pre-set response that is saved in the database, providing straightforward but relatively limited options. If a word or phrase is not part of the database, the chatbot won’t be able to help.
Intent-based chatbots are more complex, going beyond the stated words and phrases to determine what a user is looking for. Context clues offer an opportunity for the bot to be more nuanced in its responses—if its database is set up the right way.
Finally, AI-enabled chatbots are the most comprehensive version of the tool. In addition to being intent-based by default, they rely on a dynamic database that learns with every interaction. Over time, these chatbots can handle a significantly higher range of questions and conversations thanks to an ever-expanding and self-validating database.
3. Core Channels
The next factor to consider is where, exactly, the chatbot will live. While most users may think of chatbots as website-based, there are other opportunities as well. In fact, this technology can be immensely versatile depending on the platform.
For example, chatbots thrive in SMS texting environments where users can interact directly with companies about questions related to anything from shipping to product returns. Social media is another popular outlook, with apps like Facebook Messenger offering opportunities for users and brands to interact seamlessly.
Many chatbot solutions, of course, enable their clients to communicate with their audience on more than one of these channels. Knowing where you want to build the solution can go a long way toward finding the right platform for your needs.
4. Integration Capabilities
The best technology lives in a larger ecosystem. The same is true for chatbot solutions, which should integrate with your existing tech stack if possible. Opportunities may include:
- CRM integrations, with user interactions flowing directly into the audience profiles of potential and current customers
- Ecosystem integrations, like the ability for home builders and realtors to integrate their chatbot with their software for self-guided home tours
- Integrations with scheduling software that enables users to set up personalized appointments and calls with human representatives
- Call center integrations to flow between different modes of communication rather than being limited to text-based chat
Of course, these are just a few of many examples. The key is finding a chatbot solution that works with your tech stack making the experience and data flow for both your target audience and your internal mechanisms as seamless as possible.
5. Data Security and Privacy
Chatbots are most beneficial when users can ask questions pertinent to their situation. But that will only happen if they can trust their information will be kept private. If it is not, your company could be in significant legal jeopardy. That’s what makes data security such an important component to consider.
Look for chatbot providers that follow all necessary data security protocols, and then take it further. Regular software updates are a good sign that potential vulnerabilities are fixed quickly.
This is an especially important consideration in a tightly regulated industry like healthcare or education, but it’s a necessary consideration regardless of your industry. Regulations like GDPR have made it essential for all companies to treat private data with care, and only a trustworthy chatbot provider can help to accomplish that.
6. Scalability
As your organization grows, can your chatbot grow with you? When evaluating potential platforms, don’t just look to the present. Instead, look at your future goals as well to ensure that even in the best-case scenario, your chatbot can still handle the volume.
Part of that is about the pricing model, as outlined above. Another part is about making sure that the technology remains solid even with an influx of requests. Finally, particularly AI-enabled chatbots can go a long way toward scaling up more easily, thanks to machine learning models that grow the database on their own rather than requiring an ever-increasing amount of manual inputs.
7. Reporting and Analytics
The convenience of automation can also come with a potential pitfall. Chatbot solutions are not actively monitored. Therefore, you risk the performance of your chatbot occurring in a black hole without knowing the impact it makes. That’s what makes the analytics capabilities a core factor in evaluating potential chatbot solutions.
Look for a platform that can keep a detailed account of all its interactions and compile that account into comprehensive reports. Key metrics, like successful vs abandoned conversations, deferral to human agents, and other user experience and engagement indicators are vital. The more easily you can evaluate your chatbot performance as it relates to your business goals, the better.
8. Bot-to-Human Transfer
Even the best chatbots will not be able to answer every potential question. At some points, it may get complex enough to necessitate involvement by a human agent. When that happens, the way that the chatbot handles that transition is an important factor to consider as you evaluate its potential effectiveness for your business.
Look for examples of how seamless that transition can occur, for both sides. The end user should hardly notice it, creating a consistent experience on their way to an answered question or problem. Meanwhile, the human agent should be able to easily see all previous interactions and other relevant info to know exactly how they can jump in and provide the answer that the chatbot could not.
9. User Interface Design
Speaking of user experience: the easier the chatbot is to use for both sides, the more valuable it can be for your organization. Users will look for a visually appealing, intuitive design that doesn’t complicate things on their screen. Human agents, meanwhile, prize simplicity as they use the technology to help users where possible.
Customization can further add to the potential benefits here. A chatbot experience that you can brand based on your company logo, colors, and visual style creates a more consistent experience for customers who will more easily associate their interaction with your overall brand.
10. Partnership Support
Finally, the best chatbot solutions don’t just offer the technology. They also offer comprehensive support, enabling companies to successfully implement the technology and use it to the best of their abilities.
That support starts at the onboarding stage when first signing on with the chatbot. It continues through ongoing customer support. Some platforms even offer managed services that keep the support going and the chatbot in good shape indefinitely after the initial implementation.
With chatbots growing in importance over the next few years, it’s time to find a solution that suits your needs. Use these factors as you evaluate potential platforms to ensure that your final choice plays a significant role in driving your business growth and success.
Learn more about the chatbot solutions available from AtlasRTX. Reach out for a free demo today!
