If you think you know everything about social media, then think again. Social media has gone past the “keeping in touch” phase; most companies use social media as their tools for marketing and general exposure.
Come to think of it, millions of people breath and talk social media, what best please to get the attention of prospective clients if not social media?
Sure, you guessed right- social media. Social media has gone beyond keeping in touch with influencing the financial services sector by advancing market strategies, enhancing customer service and expanding the company’s presence.
Without a doubt, financial companies have moved past the geographical barriers and have reached more to clients across the world. The rise of new industries has been made easy because of the evolution of social media.
For companies to survive today’s competition they need to maximize the benefit of social media and it perks that come with it. Many small businesses are competing greatly with the big leagues because of the social media. We cannot hide the fact that social media is the new goldmine for everyone to succeed in business, that of course if you know what you are doing. As an entrepreneur, social media is one of your secret weapons to growing your business with little or no money when compared to the conventional marketing.
What is social media?
I don’t want to bore you with the history of social media, where and how it came about, but for the purpose of this article and for easier comprehension. Here is the short but explanatory definition of social media. It is the combination of online communication channels committed to community-based interaction, content sharing, collaboration and general input.
Alternatively, we can say social media are computer-mediated technologies that allow the creating and sharing of ideas, or any other forms of information through cybernetic or electronic communities and networks. One of the many ways b which social media has evolved is the introduction of CHATBOTS.
What are Chatbots?
In nonprofessional terms, a chatbot is a software that interacts with people as if they are humans. The name is coined from ROBOT + CHAT =CHATBOT cool isn’t it? For instance, a user could instruct the bot and the bot would, in turn, perform the action, likewise, a user can also ask the bot questions and it will respond.
A chatbot is powered by rules and sometimes artificial intelligence, with which you can interact with through chat interface. Chatbots can render any services varying from functions such as providing weather updates to fun like mood detection, etc.
Some notable big-time users of chatbots include;
Uber Rides- you can prompt Uber rides’ bot by conversing the Uber chatbot, it can also supply weather updates. The Uber’s Chatbot is linked with Facebook messenger conversations. All you have to do is to click on an address within a messenger conversation to request a ride.
Pizza Hut chatbots- this company’s bot is on Facebook messenger as well as Twitter. It allows the ordering process easy for customers and indirectly increasing consumer’s satisfaction and loyalty.
How do chatbots work?
As earlier stated, chatbot is programmed with artificial intelligence, which allows them to share information and answer queries. It “studies” the set of questions, user patterns and evolves too. The aim is to behave like humans and the user feels as though they are conversing with humans at the other end.
However, chatbots capabilities are limited even though they can interact with a human almost flawlessly. Chatbots can have advantages over human agents; they are available 24/7 and they have access to a very broad array of information and functionality.
They are the preferred agents in terms of speed and accuracy; unlike humans, chatbot can deliver information with speed and accuracy but is it programmed to do so- Garbage in, Garbage out (GIGO).
Chatbots are not solely created to replace humans for some tasks, they can also be used while chatbots have the capability to replace humans for certain tasks, and they also can be used to enhance what human agents can offer their clients.
For instance, the chatbot can provide possible responses for the human agent or discuss relevant information in a timely manner, which the human agent can then act on. The fact that chatbots are used directly in a communication channel means that the collaboration between the bot and a human agent is far easier to accomplish.
Social media Chatbot’s features:
Social media chatbots’ have excellent features that can help boost the overall public relations of the company. Below are some of the features companies tend to gain when joining the
Social media chat bots go beyond understanding and interacting conversationally with humans. A well-programmed chatbot has a specific natural language otherwise known as NLP. The NLP is the capabilities to comprehend the context of a conversation in multiple languages.
It can also identify the purpose of a question to provide an accurate first response and propose options to confirm or clarify intent. Sophisticated chatbots have advanced conversational capabilities and can ask detailed questions even though the questions are not straightforward.
Chatbots can perform complex reasoning without human interference; an ideal chatbot should be able to infer solutions based on previous cases.
Chatbots are equipped with deep learning; they can tell the mood of a client through chats and involves a live agent as soon as possible.
They are fast and readily available:
They can assist you with almost anything related to their uses, as they are Omni-capable. The chatbots interact easily across every channel and hold data and context for a smooth experience.
As a company, one of the best growth strategies you can implement is to introduce a social media chatbot; it will command the loyalty of your customers.