Letting your site visitors wander aimlessly without anyone to talk to? A good way to lose out on conversion opportunities.
If you want to convert visitors, you need to keep them engaged.
And what better way to do that than with conversational growth strategy in place and its artificial intelligence chatbots. Two trends — the exploding popularity of mobile messaging apps and advances in artificial intelligence— are coinciding to enable a new generation of tools that enable brands to communicate with customers in powerful new ways at reduced cost. Retailers and technology firms are experimenting with chatbots, powered by a combination of machine learning, natural language processing, and live operators, to provide customer service, sales support, and other commerce-related functions.

chatbots and I call it conversational growth strategy can be used for lead gen, customer support, and feedback.You can embed your chatbot and your conversational growth on your website or create a specific landing page for it.By creating specific landing pages, you can spark a conversation between your customer and chatbot to get the feedback you want.You can even add your ChatBot to your Facebook Messenger!

While messaging and voice interfaces are central components, they fit into a larger picture of increasing infusion of technology into our daily lives, which in turn is unlocking new potential for brand-to-consumer interaction. The fact is, technology overall is becoming more deeply woven into our lives, and the entire ecosystem is enjoying tighter cohesion through the increasing availability and sophistication of APIs. Smart companies are finding new and innovative touch points with consumers that are contextual, relevant, highly personal, and yes, conversational. Commerce is becoming not only more conversational but more ubiquitous and seamlessly integrated into our lives, and the way we interact with brands will be forever changed as a result.

The key trends driving this movement include:

1. Growing usage of mobile messaging applications and an entire generation of mobile-native consumers who are comfortable and fluent with messaging as an interaction paradigm.
2. Inflection points being reached in artificial intelligence and natural language processing that enable 90%+ accuracy in machine parsing and understanding spoken or typed requests.
3. Rise of sensors, wearables, the quantified self movement and advances in data science and analytics are bringing never-before imagined levels of personalization and predictive assistance capabilities (as well as rising concerns over privacy).
4. Integration of seamless payment technology into devices, increasingly accessible to third parties via APIs.
5. Increased sophistication of notifications that are context-aware and available across devices to provide an always-on, intelligent interface layer with consumers.

The globalchatbot marketis expected to reach USD 1.25billion by2025, growing at a CAGR of 24.3%

These days, great customer support isn’t a nice to have – it’s table stakes. Giving your customers fast, personal support is essential to customerretention ("Customer retention is the rate at which your business can keep its paying customers over a given period of time. Customer retention is important to any growing company because it measures not only how successful they are at acquiring new customers, but how successful they are at satisfying existing customers."), transforms customers into advocates for your business and delivers a competitive advantage. Live chat has been instrumental in helping businesses achieve this, allowing them to build better relationships by delivering fast, highly personalized support.

But there’s a problem.

As a business grows, so does the number of inbound conversations they receive, often exceeding their real-time capacity to support. For businesses who get thousands or millions of people visiting their website every year, delivering prompt, personal support to their customers quickly becomes a daunting task.

Moreover, growth challenges aren’t always just about volume. Supporting customers on a global scale brings additional complexity. A worldwide customer base is diverse, as are their questions, needs, and requests. Offering real-time support in multiple languages and across time zones can become costly, whether that’s by hiring a team of polyglots, or outsourcing your support to a translation service.

Users around the world are logging in to messaging apps to not only chat with friends but also to connect with brands, browse merchandise, and watch content. What were once simple services for exchanging messages, pictures, videos, and GIFs have evolved into expansive ecosystems with their own developers, apps, and APIs.

Chat apps boast a number of distinct characteristics that make their audiences particularly appealing to businesses and marketers, including their size, retention and usage rates, and user demographics. The combined user base of the top four chat apps is larger than the combined user base of the top four social networks. Chat apps also have higher retention and usage rates than most mobile apps. Finally, the majority of their users are young, an extremely important demographic for brands, advertisers and publishers.

The global chatbot market is expected to reachUSD 1.25 billion by 2025, growing at a CAGR of 24.3%, according to a new report by Grand View Research, Inc. The chatbot industry is expected to witness significant growth over the forecast period as they enable enterprises to substantially reduce operating costs. Additionally, innovations in artificial intelligence and machine learning technologies are likely to enhance the features of chatbots, which acts as a major driver for the market.

A significant rise has been observed in the number of users of messaging services, which is expected to surpass the number of users of social networking sites. Additionally, there has been a significant development in the NLP field, which has resulted in streamlined interactions between computers and human languages. The entire chatbot ecosystem comprises various cross-linking features, which facilitates enhanced performance of chatbots in all application. Most companies prefer in-built chatbots on their websites as they facilitate enterprises in providing instant customer interaction. For instance, Slack and Twitter messaging platforms are preferred by majority businesses.

North America is expected to emerge as the major region for the chatbot market over the forecast period. The growth in this region is mainly attributed to the increasing deployment of chatbots in various business verticals. Technologies such as artificial intelligence, IoT, and APIs, among others, are evolving at a rapid speed. Chatbots are integrated with these technologies to offer enhanced operations, thereby driving market demand. Artificial intelligence and audio speech-based chatbots are expected to account for the largest market share in future. Additionally, speech recognition has improved drastically, especially in terms of native languages, which is expected to result in enhanced performance of chatbots in various applications.