Chatbot

Marketing Challenges are different for different Industries. You would find yourself in deep trouble if the right technology is not chosen to solve your critical marketing challenges. Generating revenue can be easy if the appropriate technology serves as your automation tool. Introduction of Artificial Intelligence in marketing automation industry which is valued at $1.65 billion, has seen tremendous waves of change across many associated industries. AI enabled Chatbots which is the talk of the town cannot be taken lightly. Most of our Sales and Marketing communications would be between humans and AI by 2022. Ad pop-ups are mostly seen as intruders in websites which distract the user and create frustrations. Imitating human conversation and introducing products pre-emptively can be done by Nuvento AI chatbots without seeming like intrusions. Chatbots for websites can be a prominent tool towards cross selling your products and services and collecting information. 

Traditional Marketing Vs CRM/Marketing Automation

Traditional Marketing revolves mainly around print or digital adverts in a magazine or other medium. The target is anyone who comes across that attractive advert. This is useful for retaining as well as attracting new users. An advert designed by a Marketing Automation tool connected to a CRM targets on niches based on many criteria including purchase behavior analysis, and demographics. A fine-tuned CRM ad targets a new/existing user who needs some level of service, mainly based on past experiences. Marketing automation helps ROI calculation easy based on each interaction.

Omnichannel User Experiences delivered by AI Chatbots

Chatbot development especially for data intensive industries like Insurance can have far reaching impacts. The main challenges faced by Insurance brands are longer Turn Around Time (TAT) and complex transactions which can be reduced by deploying Nuvento AI Chatbots. Speed and ease of use across all online channels are the key factors to attract new customers and marketing is always under pressure in order to automate and innovate. Chatbot is an interesting channel for engaging your customer, it delivers intuitive customer experiences, close-to-human conversations and truly automated digital experiences seamlessly across many digital channels.

Conversational Process Automation Solutions and Marketing.

Massive amounts of data flows from contact centers via Customer Relationship Management (CRM) tool to help marketing to develop future strategies based on user preferences and to deliver Realtime customer experiences. Chatbots can help internal teams to develop a close sync by collaboration and smooth flow of information. This always helps Marketing teams to develop innovative products based on user recommendations and offer them to users at the right time at the right pace. Conversational Process Automation is the future of Marketing. AI-powered solutions allow marketing to develop products based on the volume of inbound product recommendations which are routed via service queries. This in turn can revolutionize customer service call centers as revenue generators in terms of product development as against the traditional concept of call centers being focused only on solving customer queries.

Inbound marketing tactics made easy with Chatbots.

Chatbot development services can help you drive more traffic to your marketing website, convert more qualified leads, and close more deals with your inbound marketing strategy. One Scenario:

Traditional Marketing Workflow: Visitor -> Form->Email->CRM->Qualified->Call. Conversion TAT (weeks to months)

Conversational Marketing Workflow after deploying Chatbots: Visitor-> Qualify (Bot verifies visitors and qualifies leads 24/7)-> Continuous Conversations to build customer loyalty and repeat sales/references. Conversion TAT (Minutes)

Chatbot Business blooms in typical scenarios like this where brands deploy AI to help navigate visitors directly to the specific section of the webpage which is relevant to the visitor, and this results in faster conversion. Industry Leaders in webpage development are increasingly deploying chatbots to convert casual site visitors to qualified leads. A change as minute as a catchy welcome message pop up can result in huge increases in conversion. The message which delivers a competitive advantage to the buyer in terms of pricing or product/service scalability can bring out positive impact. Chatbots developed by prominent chatbot development companies are well known to improve organic website traffic via facebook conversation interactions, chat blasts, and chatbot drip campaigns.

RPA, Robotic Process Automation Companies are busting some Marketing Myths

RPA Software Market is expected to grow by 41% every year through 2022. Gartner predicts that 60% of businesses with greater than $1 billion revenue will own RPA at the pilot or deployment stage. Source: Gartner’s recent report, Forecast Snapshot: Robotic Process Automation, Worldwide 2018. 

Few Myths:

  • Bots are expensive to deploy.
  • Bots cannot be compared to human agents.

 
Chatbot SaaS providers are coming up with innovative bots in robotics and automation arena to make the tasks easier for Marketers. Process automation solutions considerably improve efficiencies, minimizes human errors and operational costs. Benefits include humans focusing on high value tasks, RPA works 24/7, and relatively lower training and re-training costs.

Have a Question? Ask!

Learn every detail about your competition, acquire more customers, improve your brand image, enhance customer service round the clock and reduce costs with AI powered Nuvento Chatbot development services.

All successful businesses have adopted technologies to stay competitive and connect with their customers. Earlier, it was the websites which connected brands with their global customers. After the wide spread of smartphones, mobile apps opened up new possibilities for businesses. We all know how quickly businesses adopted mobile apps as a technology to connect with their customers.  Chatbot is the latest trend which businesses across the globe are catching up to. With the emergence of online businesses, customers are expecting instant responses and better experiences when they engage with your brand.

Chatbots delivers all these for the new generation of customers. Providing and interactive platform, delivering better customer experience, increasing your conversion rate and customer retention rate, minimising human labour, engaging with customers on their preferred social media platforms etc are all few among the numerous advantages that chatbots can bring to your business.

Let’s discuss some of the advantages of having a chatbot.

Few Reasons why you should sign up for a chatbot

Conversational chatbots are increasingly getting popular and most smartphone apps depend on chatbots to function. Here are the top 5 reasons why you should immediately consider a chatbot:

  • You need an interactive marketing platform to sell your products online: Apps and websites often present a passive customer experience. On the contrary, chatbots can woo your customers using highly interactive marketing campaigns. Nuvento chatbots are available on Facebook Messenger and numerous other platforms including kik, slack, skype and this makes it easier for your business to reach out to more people.
  • You want to scaleup your operations: Human agents have many limitations when it comes to handling numerous conversations. Chatbots are fed with data and trained with Artificial Intelligence, Machine Learning and Deep Learning to engage in numerous conversations and they mimic the human agent. Nuvento Chatbot solutions is a powerful tool to compliment your human agents, and your business can easily enter new markets without many constraints. 
  • You want to increase the efficiency of your customer support team: Customer service is one area where chatbots can contribute a lot. Chatbots can support your customer support team by acting as a single point of contact; chatbots can screen customer calls and divert them to human agents only when necessary.
  • You want repeat sales by guiding the customers tactically: Your business might be having a range of similar products and your customers might be looking for help to choose the right product. For example, your e-commerce business sells shoes which look the same but are different in terms of brand, price and quality. Apart from this, customers are very conscious while purchasing expensive items like smartphones and other gadgets. Chatbots always guide the customers to choose the right product based on the budget and availability. 
  • You want to spruce up your brand image/business efficiency: Users always recall brands which speak to them; gone are the days when interaction to a customer used to be one-sided as we see in many websites. Chatbots can offer a highly interactive conversational platform which would considerably improve your business efficiency. Millennials prefer to compare products and they like live interactive sessions with chatbots. So, if you are targeting millennials, chatbots as your primary customer service agent would be a farsighted investment.

Make it simple with Azure Chatbot

Chatbot simulates human like conversations in a natural way. Chatbots ask questions to understand your user’s preferences and stores and processes this information to make the next interaction easier and faster. By this way chatbot can provide precise and customized service offerings to your users. Azure makes chatbot development quite simple. Azure chatbots get deployed easily unlike most web apps. Microsoft Bot Framework supports C# and Node.js languages for development and Python and Java. What makes it even more interesting is that, when your chatbot gets hosted in Azure Bot Service, it gets seamlessly integrated across multiple channels like Slack, Facebook, Skype and email. MBF emulator helps you to debug and test your chatbot. Continuous deployment is possible from Visual Studio to Azure.

How to make your customers loyal to your brand using a chatbot?

Nuvento Chatbots take your customer communication to the next level!

  • Be available in your customers most preferred platforms. We can create chatbot for facebook and other popular social platforms so that customers does not have to necessarily visit your website. Users get habituated to a bot because it is synced across multiple platforms and talk the user’s language. The more you interact with the customers, the more loyal they become.
  • Chatbots are trained to answer to multiple queries because they use Natural Language processing, NLP. Chatbots wont bug the user like a website or normal app where the user must go through a series of steps to get what they want. Chatbots provide relevant information in an intuitive way, which can lead to customer satisfaction and eventually gains loyalty.
  • Chatbots deliver unique and delightful customer experiences: AI chatbots learn with each customer interaction and your brand earns a unique, positive and customer-centric brand image.
  • Chatbots are constantly available and they can match to the growing customer expectations. For instance, in e-commerce customers expect quick delivery and even quicker responses from brands, this is one area where chatbots can meet or even exceed customer expectations.

Call Us today to know more on chatbot development.

Use Chatbots, your business needs It!

Clear and Precise Communication is a pre-requisite for the smooth functioning of any enterprise.

This communication can be between the business and its customers, within various departments or with stakeholders and public in general.

Minute problems in business communication can be a reason why your business loses customers. If not identified and corrected, this can lead to decreasing profits in the long run.

Two main problems of human communication are

  • Inability to explain feelings
  • Incapability to understand the mood of the other person

This results in conflicts and chaos amongst your business work teams and customers.

It is quite common that we fail in putting into words what we feel deep inside. Inefficiencies of such human communication can be minimised with the help of Artificial Intelligence (AI).

Chatbot is a much sought out weapon to handle issues related to your customer support teams.

Consider this scenario of dealing with irate/abusive clients. Your customer support team is always under pressure to deal with this category of difficult clients. Chatbots often pop up as an intermediate agent or in other words a Diplomatic friend to ease the situation. Once the irate client is pacified human agent can take over the conversation. This has positive impacts on improved customer satisfaction and enhanced workforce morale. Decisions are taken and products offered in chaos won’t do any good to your business. AI chatbots are powerful tools which mimic human conversations and most of the times they respond to customers exactly in the way they want.

So, before your irate clients bang at your store door or start spreading negative publicity in social media against your brand, deploy chatbots as a precaution! Every conversation using chatbots would be monitored using powerful AI and NLP capabilities to ensure your clients stay happy and satisfied.

Count on our Chatbots for revamping your E-commerce biz!

How good it would be when your customer finds a friendly navigator on your otherwise unattended e-commerce store! A chatbot which guides your customer without seeming like an intrusion is always a boon to your business. It can get your customers hooked on to your brand for longer terms. Main benefits include:

  • Customers find it easy to navigate the store and get exactly what they want easily and quickly.
  • Chatbots instigate repeat sales because they make a long-lasting impression in customers’ minds through their unique avatar/persona.
  • They outsmart human chat agents most of the times by understanding your customers exact requirements and suggesting specific products/services.

A chatbot which takes a footballer persona can woo lots of customers for your online store which sells Sports goods and supplies. These days brands are conscious towards developing unique chatbots which match their brand personas. For the customer to make a deep connection with your brand, you got to offer something which lingers in their mind for a longer time. For instance, suppose your online store sells umbrellas, chatbots which combine rain music with interesting text and visuals can attract your customers and they think about your brand in the long run. Whenever there is rain, they would think about your brand. Whenever there is money to spend, such customers always shop from your store, repeatedly. These interesting chatbots can be integrated across Facebook and any other famous messaging platforms and your customers easily identify them. This helps your brand to target the right type of customers who can earn revenue for your brand.

Future of e-commerce is largely related to Mobile messengers connected to Chatbots. Also, e-commerce businesses are coming up with chatbots which interact with customers through their apps, Facebook messenger or other messaging apps. Many brands are investing in chatbots which communicate to their customers through their apps on a regular basis, sending notifications, alerts to buy/upgrade, announcing discounts, offering product comparisons, reminding you about your friend’s birthday, all of these triggers brand loyalty and sales.

What chatbots can do to your business is summarized as follows

  • Chatbots can handle numerous customer conversations simultaneously, they are master Multitaskers!
  • Chatbots engage with customers more efficiently than human agents. This has a direct impact on cost efficiency and productivity.
  • Chatbots can give an attractive outlook to your normal e-commerce site, they can personalize each shopping experience and make memorable moments.
  • Chatbots converse with your customers through various platforms, they consistently learn by understanding your shoppers’ intent and recommend the most suited products.
  • Chatbots can bring about considerable changes in the way your workforce communicates. Most routine, basic business conversations are handled by chatbots and your workforce can engage in more meaningful, creative conversations.

AI is deeply embedded in different aspects of our modern lives and robots are no more Aliens to mankind. AI chatbots have cast their influence on various business arenas and most futuristic marketers and decision makers are looking forward to rapid developments in this field. AI effects can be positively disruptive to the tech business sphere. Inventing intelligent devices, streamlined information flow, etc are few things which AI can do to make our lives simpler each day.

Call Us to know More!

Learn finer detail about your competition, enhance customer acquisition , improve your brand image, enhance customer service round the clock and reduce costs with AI powered Chatbots. Gone are the days when your customers forget about insurance premium due dates and nag your call center agents to blame about forgetting to send premium reminders, this has a negative impact on productivity due to long call queues and ultimate jamming of your telephone lines.

Nuvento can empower you with a Fully Automated Insurance Agent who would alert your customers at the right time before they consider your competition, would alert your customers about premium due dates and diligently provide round the clock support to your customers especially in emergency situations when your customers are stuck with a claim.

According to Juniper Research Chatbots are expected to trim business costs by more than $8 billion per year by 2022. Few reasons why customers prefer chatbots:

  1. Nuvento Chatbots are almost like self-service portals or some knowledge encyclopaedia which can provide precise solutions/quicker resolutions to your customers’ insurance related queries.
  2. Nuvento Chatbots engage customers and avoids call waiting time which would otherwise frustrate customers if they are contacting a human insurance agent over IVR.
  3. Our Chatbots don’t judge your customers, also chatbots are free from cognitive biases. A human agent can irritate a customer but chatbot conversations are pre-programmed and customers feel more valued and respected in comparison to a human agent.

Nuvento ChatBot : Key Differentiators

  1. Provide an Instant quote: Nuvento Insurance bots can provide instant quotes which are customised as per customer requirement without engaging in detailed conversation.
  2. Insurance Premium calculation: Chatbots can easily calculate premium and eligibility based on different criteria. Apart from this, chatbots provide an easy platform to make premium payment process hassle-free.
  3. Advising customers on how to ensure regular savings through multiple policy discounts: Customers who are engaged properly would come back to your brand especially when you offer additional benefits and advise them on how to save regularly.
  4. By being with the customer in traumatic situations: AI chatbots can help the customer proceed with the claim in emergency situations where customer is unable to make a phone call to the insurance co.

Artificial intelligence powered chatbots can considerably speed up claim management and underwriting. According to McKinsey, Chatbots and associated technologies would automate 29% of customer service positions. The equation is somewhat like this:

1 phone representative handles only 1 customer at a time.

1 Live chat agent chats with about 3 customers at a time.

1 chatbot can handle unlimited number of interactions simultaneously.

“In Sales, You Let the Prospect Talk 80% of the Time and You Talk the Other 20%.” Chatbots diagnose customer conversations to find out which is the best suited plan for them, then suggest the best deal; this is a process which human brains are unable to achieve in a limited time. Nuvento AI chatbots help  digitally transform your business and win you repeat sales and brand loyal customers.

 

Understanding customer’s needs is vital to developing any business strategy in Insurance Industry. Customer interactions if kept short, relevant and productive can yield better results. Carefully designed customer interactions while helping the customer choose/change the plan, or while advising the existing customer to understand their coverage can prove as beneficial in the long run. Preventing customer churn is possible by tactical deployment of Nuvento AI chatbots. The churn prediction model comes to use while predicting the tendency of customers to churn. Information criteria like household and financial data, transactional data, behavioral data, competition metrics etc. are integrated with chatbots to frame churn pattern and intervene in conversation to prevent customer churn at the right time.

Insurance Chatbots has huge potential to be more efficient to deliver personalized experiences than any other customer service solution in a data intensive industry such as Insurance. AI powered chatbots from Nuvento help you anticipate your customer needs at the right time and at the right pace. Prompt responses can yield greater result in terms of retention.

How Insurance chatbots help retain your customers:

  1. By Generating proactive alerts/ notifications:

Forgotten due dates of premium payment is a key indicator where customer churns to competition. Negligence from a human agent who converses with the customer based on system generated data can be eliminated using AI chatbots. AI chatbots can automate this reminding task by generating proactive payment alerts/notifications and avoid human agent intervention thus minimising errors.

     2.Intelligent Virtual Insurance Advisor:

Busy customers may not always entertain repeated telephone calls from your human agent who calls the customer for cross-selling purpose or reminding about premium due-date. Chatbots on the other hand can do all these; explaining policies, clarifying doubts and more importantly chatbots can lead customers to fill online forms which may help in cross-selling a plan. A chatbot who acts as an intelligent virtual assistant can prevent frustrating the customer and thus prevent churn.

    3.Reducing Claim processing time:

Increased claim processing time is a cause for higher churn. Nuvento AI claims solution noticeably reduces claims processing time. Speed and efficiency of operations is one area which benefits the most with Artificial intelligence deployment in Insurance business. Our chatbot not only reduces claims processing delay but also minimizes time required in other operations as well. Speed in operations and grievance redressal is a key area where chatbot can contribute. A human agent may not always be available to reply to numerous customer queries and non-response can lead to customer moving out to competition. Chatbots are available 24/7 and ensure each customer query is addressed.

     4.Flawless product knowledge:

Your best human agent can forget vital information about an insurance plan but AI chatbots gather data from each customer interaction and business knowledge database, stores records and help the customer with their product queries.

Last but not the least, instant and proactive customer service using Nuvento Chatbots is the crucial factor in retaining your valuable customers who maybe lost to competition at any point of time in the customer lifecycle.

The market is promising now for chatbots; no matter what business you are in, AI Chatbots support and scale your teams to achieve your business targets. Business Insider states that over 80% businesses already use chatbots, or plan to use them by 2020. The market is promising now for chatbots. In a nutshell, from a broad perspective, benefits of chatbots are nothing but, 1. Scalability, 2. Comprise a broad eco-system of uses, 3. Nominal set-up cost for an impressive ROI.

Successful businesses take advantage of Nuvento Chatbots because it allows businesses to monetize on Facebook Messenger and similar chat, text, visual and voice platforms. Global Web Index Statistics states that 75% of internet users are adopting one or more messenger platforms. With over 65 million businesses using Facebook, chatbots still lead the game when it comes to sales opportunities, marketing, customer engagement, and better agent morale.

Benefits of chatbots in business:

  • Round the clock accessibility: We all have faced the troubles of holding our telephone lines to get connected to a call center agent, such cases are not rare when we call up a call center for an emergency and must wait for a long time. On an average people spend 7 minutes to get assigned to an agent. Nuvento Chatbots are accessible to the customer anytime they wish and eliminates long waiting time. A live chat agent could be attending to other customers and will most likely place your valuable customer on hold. This is where AI chatbots have an advantage. Chatbots can handle numerous conversations with minimum wait time compared to a human agent.
  • Customizable: Flexible attributes of Nuvento chatbots makes it suitable for any industry. It synergises workflows between various business functions be it sales/marketing to customer support. Ultimately customer gains the benefit of getting their query/concern answered quickly, and in the background chatbots converses tactically with business functions as well. Cross-selling happens based on customer requirements, and all these at a faster pace compared to a human agent interaction. Better team collaboration using chatbots reflects on how nicely you engage with the customer.
  • Better demand supply ratio: AI chatbots are particularly beneficial to businesses where demand is high and you have limited manpower to handle the rising demand. In a call centre scenario when the human agent is unable to handle huge call volume, chatbots come to your rescue. Chatbots have a winning edge in improving the (CPS) call per second ratio which is directly proportional to your business revenue.
  • Clever customer handling and delight: Human agents are driven by emotions; most of the times they are unable to handle an irate customer, and this has a negative impact on customer satisfaction scores and agent morale. Chatbots are programmed to obey the prescribed rules and handle customer emotions in a better way thereby improving customer satisfaction.
  • Higher profitability/cost-effectiveness: Hiring a human agent is never an easy and cheap task. It will turn out to be a very expensive affair when your revenues are not high or sales targets are not met. This mis-match between hiring cost and revenue outcome can create chaos in any business. One single chatbot is equal to a bunch of agents and it can simultaneously handle numerous customers. This would curtail your operational cost which would in turn result in steep rise in revenue and customer satisfaction.
  • Efficient Onboarding: AI chatbots can ensure faster on-boarding by educating the new-joiners; continuous knowledge upgradation is the key to developing a strong and productive workforce. This is accomplished efficiently using AI chatbots which gather knowledge data and disseminates valid information to the user without any breaks in the process.
  • Automated operations: Repetitive tasks are non-productive, however chatbots can automate numerous such tasks. This improves productivity , reduces cost and time.
  • Additional sales channel: Chatbots precisely understand customer requirements since they collect data from customers past purchase patterns. This makes AI chatbots a preferred platform for creating additional sales. Also, chatbots record customer query/responses and tailor their responses accordingly.
  • Virtual Assistant: Nuvento chatbots help customers by posing as a fashion advisor/finance advisor and what not. This enables customised shopping experiences because chatbots remember customer choices the next time you visit it.

 

The future of chatbots seems very promising, lately AI chatbots are making their way into other domains too such as Industrial IoT. The underlying promise of chatbots is that you can find anything easily without browsing the web or opening multiple apps.

 

Creating Crucial Business DifferentiatorsExpansion in next-gen cognitive technologies across areas encompassing Analytics, Artificial Intelligence, Natural Language Processing and machine learning has far-reaching impacts on business, economy and global communities in general.

Data analytics and artificial intelligence is the combined back-bone of any progressive business.Gaining a competitive edge in this fiercely competitive tech-ecosystem needs new strategies that are driven by Cognitive Intelligence and Applied AI.

Applied AI (artificial intelligence) with advanced NLP , Machine Learning and Chatbots already made a mark across industries by creating critical business differentiators resulting in a better top line or optimized bottom line. Nuvento uses advanced analytical techniques and uses its in-house proprietary algorithms to empower progressive businesses with faster and large-scale evidence-based decision making.

How Nuvento Applied AI can transform your Insurance Business

1. CUSTOMISED INSURANCE PRODUCTS: We use the power of Image Analytics, Predictive modelling, Machine learning to analyze millions of images , claims settlement details, data patterns to build models for FNOL , customer management, Claims advisory, billing and operations management. 

2.Improving Sales, Underwriting and Policy Service: New Customer experiences can be created through newer  digital channels based on prescriptive analytics patterns that are based on data and AI. Our models are trained to use AI to find out customer behavior patterns, purchase trends, complaints history etc. Our AI Solutions are designed to have considerable time & money which is otherwise spent on tedious underwriting process.

Key Goals of the Nuvento Analytics & Applied AI Platform:

  • Business Proactivity & Need Identification: Nuvento Analytics & Applied AI helps businesses to predict the customer needs accurately and thereby optimise customer experiences across multiple platforms. This helps brands to curate services and products and market them and engage customers. Nuvento Predictive Analytics combined with Applied AI can have far reaching impacts in many business critical areas like finance, operations and R&D. We use our in-house algorithms in Prescriptive and Predictive analytics users to identify high-value customers and market the right kind of offer which results in closing of deals much easily.
  • Mitigating Risks & Fraud: Nuvento Analytics & Applied AI  with advanced Machine Learning and Social network Analysis has helped in identifying risk and targeting specific fraud instances well in advance and is extremely useful in reducing false positive  in financial institutions with large real-time transactions.
  • Customization: Real-time interactive response to reach customer delight threshold is possible through Nuvento Analytics & Applied AI. Customization in a multi channel service environment is achievable by understanding customer attitudes precisely. This applies across numerous industries including insurance where businesses are heading towards creating customized products by deploying AI solutions.

Data & Analytics Sciences has  transformational power for any entity, however most businesses are leveraging only a fraction of its total value. Many tech enterprises are still struggling to take a leap forward to reach the ideal state of flexible and innovative data architecture that can get the most out of big data and analytics.

Impact of Applied Artificial Intelligence in marketing arena is tremendous and estimated to  reach more than $150 billion by 2025.

AI Enabled Chatbots from Nuvento are known to harness the  powerful combination of predictive analytics and applied AI to create almost human like experiences. A truly intelligent Chatbot must have a degree of Cognitive Intelligence.  Our core focus is to harness the visual power of Social Conversations to provide a truly human like interaction , and to do this our AI competency center uses our in-house decision making models in store and accelerators for image processing, video analytics, social media analytics and  device integrated bots.