Encash Chatbots: Chatbot Technology Monetization Use Cases and Growth Trends

According to Gartner, Chatbots are essentially the "apps" of voice and messaging platforms, defining how people converse with your digital business services and data. The broad appeal of chatbots stems from the efficiency and ease of interaction they create for employees, customers or other users. The potential benefits are significant for enterprises and shouldn't be ignored.

Here are some of the ways businesses are monetizing the benefits of chatbots and encashing this technology for their top line and bottom line growth.
We will now review some specific use cases in Chatbot application and business monetization. To start with lets take a look at some examples shared by [24]7

Use case of Chatbots in Communications 
Telecommunications company Vodafone's award winning virtual agent "Hani" is an intelligent chatbot that answers 80,000 questions per month and deflects calls away from the contact center for 75 percent of the customers it chats with. Vodafone contact center staff also use the same technology to access accurate, up-to-date information on Vodafone products and services.

Use case of Chatbots in Travel 
A leading global airline created an avatar to personify their chatbot. The chatbot serves as an automated concierge, providing customers with instant, accurate answers to their questions about flight status and baggage rules. The chatbot has helped the airline reduce call and chat volume by 40 percent.

Use case of Chatbots in Financial Services
Canadian Imperial Bank of Commerce, one of Canada’s largest chartered banks, introduced an intelligent chatbot as a virtual agent and saw email volume decrease by 50 percent
immediately at launch, and then experienced another 23 percent drop throughout the first year. At the same time, it reduced phone calls by 25 percent.

Use case of Chatbots in Healthcare
A major health insurance provider improved the experience for its 4 million members with an intelligent chatbot deployed as a virtual agent. With the chatbot answering 150,000 questions per month, the company is saving thousands of dollars in contact center costs by reducing calls to its staff.

Use case of Chatbots in Utilities
Canadian utility BC Hydro wanted to improve customer service and satisfaction for its 4 million customers and improve operational efficiency by deploying a chatbot on its website. In
the first 11 months, the chatbot answered more than 720,000 questions with an accuracy rate of 94 percent.

Use case of Chatbots in Retail
A major retailer implemented an intelligent chatbot to deliver a phenomenal guest experience, answering 45,000 questions a month about order status, shipping, returns, and other common areas of interest. The chatbot deflects informational calls and email away from staff by answering 97 percent of the questions asked, with 96 percent accuracy.

While most of the chatbot hype focuses on customer-facing scenarios, there are significant benefits for employees too. Here are some broader use cases of chatbot platforms in organizations as shared by Gartner.

Top Chatbot Platforms to get your business started

As we see in this post, chatbots are impacting businesses of all kinds. Here are the 10 amazing chatbot platforms to get you started.

  • Chatfuel: Chatfuel is a useful tool for non-skilled developers. It allows you to create AI chatbot in Facebook 
  • ChattyPeople: Chattypeople is the best chatbot platform for creating an AI chatbot on Facebook with integrated Facebook commerce. With Chattypeople you can create a Facebook message both quickly and easily, no coding required.
  • Microsoft Bot Framework: The Bot Framework includes Bot Builder to give you the tools you need to develop bots. 
  • Smooch: Smooch acts as a connector between messenger apps like WeChat, Line, Facebook Messenger and business apps like Front, Zendesk, Scout and the rest.
  • MEOKAY: MEOKAY is one of the top tools to create a conversational Messenger bot. It makes it easy for both skilled developers and non-developers to take part in creating a series of easy to follow steps. Within minutes, you can create conversational scenarios and build advanced dialogues for smooth conversations. Once you are done, link and launch your brand new chatbot.
  • Botsify: Botsify is another Facebook chatbot platform that helps make it easy to integrate chatbots into the system.
  • Beep Boop: It is a hosting platform that is designed for developers looking to make apps for Facebook Messenger and Slack specifically. 
  • Facebook Messenger Platform: You can start building your own bot directly through the platform’s landing page. This method though, may be a little bit more complicated than some of the previous ways we’ve discussed, but there are a lot of resources that Facebook Messenger provides in order to help you accomplish your brand new creation. 
  • Telegram Bots: Build a bot directly from one of the top messaging apps themselves. By building a bot in Telegram, you can easily run a bot in the application itself. 
  • BotKit: A toolkit can be integral to getting started in building chatbots, so insert, BotKit. It gives a helping hand to developers making bots for Facebook Messenger, Slack, Twilio, and more.