(1) Chatbots are increasingly being used in CRM systems like Hubspot's to handle initial customer queries and simple tasks in order to reduce costs. However, chatbots still struggle with complex queries that require human judgment.
(2) To improve the human touch of chatbots, companies can continue training chatbots with new data, make them more empathetic, use natural language processing to make them seem friendlier, implement conversation analytics, and have a clear escalation process to human agents.
(3) Chatbots can play various roles in the sales process depending on the stage. They are best suited for the awareness stage through handling basic questions, but most sales will still require human involvement for complex discussions and
5. Market for
Chatbots
chatbots by 2020; 47.62%
firms already use chatbots
for CRM; 33.93%
marketers use chat-
bots to communicate
with consumers ;
18.45%
chatbots by 2020
firms already use chatbots for CRM
marketers use chatbots to communicate with consumers
-Market for chatbots was
estimated to be 1$ billion
and was estimated to nearly
double by 2020.
-Among companies AI, most
common use cases were:
Customer service : 39%
Marketing & sales : 35%
Managing non customer
external relations : 28%
-Chatbots were reported to
save business by $20 million
per year
-Chatbots were less
sophisticated and tended to
specialize in executing
simple tasks unlike virtual
assistants.
6. Chatbots and CRM
“It’s impossible to ignore the impact of
chat and messaging, not just on the
way B2B companies operate, but on
society as a whole. We’re in the midst
of a massive shift as businesses
embrace this new platform and
consumers come to expect more
immediate, always-on communication
from brands.”……….Hubspot’s CEO
Brian Halligan
Research would be convenient,
purchases streamlined, and service
personalized.
Tech Crunch reported that 9 out of 10
consumers wanted to use messaging to
interact with companies.
Because chatbots were deployed within
messaging app platforms, such as
Facebook Messenger, WhatsApp, and
WeChat, customers could speak with a
7. Chatbot
usage for
B2B and
B2C
customer B2
C
B2
B
Rapid adoption:
-simple and
straightforward
customer queries
-relatively lesser
per customer value
-transactional
nature of customer
relationship
-Higher volumes of
customer
interactons
Slower
Adoption:
-complex
customer queries
which require
human
intervention.
-High value and
demanding
customers
-Relationship is
often strategic
8. Delivering a
Human
Touch via
Artificial
Intelligence
A Preference for
Humans?
Chatbots being able to handle a larger volume of
human clients across a shorter period of time than a
human team would be able to do.
conduct a customer support interaction from
beginning to end and providing the customer with a
working solution that eliminates the need for human
interaction entirely.
“Chat is good when powered by humans. Chat is
awesome when powered by AI”
Being able to reach out to prospects that might not be
considered cost and time efficient to reach out to by
humans and turn those prospects into customers.
10. 1) What are
the
shortcomings
of Chatbots
over
conventional
website chat
and human
contact center
customer
service?
Lack human touch: Chatbots can sometimes come
off as very transactional in their responses and lack
conversational flow. While this can, to some extent, be
remedied by good conversational UX, it may still lack a
human quality.
Chatbots quite reactive and dumb
Uncanny valley situation
Bots require expertise: While there are many ‘build
your own chatbots’ available, these are very
rudimentary flow diagram models that do not have the
sophistication required to replicate human
conversation (at times due to ambiguity of language) .
Struggle handling complex problem solving (specially
B2B segment).
Source : https://spectrum.ieee.org/automaton/robotics/humanoids/what-is-the-uncanny-valley
11. Botched Bots
The statistics mentioned in the
case study that point out that
“chatbots failed to serve
customer needs 70% of the
time” and that “only 12% of
bot interactions in the health
care sector were completed
without the need to pass off
the customer to a human
operator” are very
representative of the
difficulties and obstacles
encountered by the use of
chatbot technology.
Some of the problems with
using chatbots is their difficulty
in perceiving tone, meaning, or
12. 2) Suggest
ways in
which
human
touch could
be
enhanced
for
chatbots.
Possible solutions:
Keep Feeding Chatbots With New Information
( to Chatbots Augmenting Live Agents too). Big
data analytics into consideration.
Make Chatbots More Empathetic
Use Natural Language Processing (NLP) to
Make Chatbots Seem Friendlier
Use Interaction Analytics to Make Chatbots
More Conversational
Put an Escalation Path in Place (to a human
advisor)
13. 3. Discuss
the roles,
effectivenes
s and
limitation of
chatbots in
various
stages of
the sales
process .
Action
Sometimes with smaller purchases, though,
customers can make a purchase directly through the
bot.
The sales team will use data collected through
chatbots, to introduce their strategy for the current
customer.
Desire
Bots may provide leads with information to help them
make a purchase decision.
Based on the info the bots gather, they’ll typically
send the lead through to a human salesperson at
some point during this stage.
Interest
Chatbots can handle many of the preliminary
questions, at least the most commonly asked ones.
Chatbots can also help to pique interest in additional
products and services.
Awareness
Bots establish relationship by initiating a
conversation, causing the visitor to engage with the
brand.
Typically, the bot will wait a short while and then pop
up and ask them a basic question.
14. 4. Critically
evaluate the
lessons
Dharmesh
learnt about
how bots need
to be
constructed to
make people
switch from
familiarity of
search to
interface of
chatbots
Roles that Chatbot plays in HubSpot’s own
business
Taking inquiries from customers
Assisting salespeople in gathering information
Providing convenient customer service
Growthbot – Intuitive , conversational interface that
allowed users to answer questions by querying
internal and external databases
Lessons
Onboarding process has to be simple and example based
Bot has to provide compelling reasons for the user to
return
UI Widgets, the suggestion boxes that bots presented
could simplify the user’s experience if designed
judiciously.
https://www.youtube.com/watch?v=PQjd7Yboc
Zo
15. 5. Give your
assessment of
contribution and
effectiveness of
chatbot in top,
middle and
bottom of sales
funnel as well as
post sale service
processes for
Hubspot.
16. Company’s Content had attracted
attention of perspective customers
Prospects needs are
evaluated and they are
educated
Cons
ultati
ve
demo
and
guida
nce
to
figur
e out
how
to
integ
rate
their
prod
HubSpot
Sales
Funnel
17. Top of the Funnel (ToFu):
Making customers aware of HubSpot’s offerings
Inserting interactive chatbots early into the marketing
and selling processes to interact with prospects
during the crucial early stages of the buying process
Using a bot with a more conversational tone in place
of a landing page form could help the company
garner more information.
Upside of a bot is that it would be available 24/7 and
wouldn’t be constrained by the availability and
bandwidth of the live chat reps
Scripting bots to speak with the voice of the brand
Dynamically adjusting a bot’s tone to mimic the
desired relational style of an individual consumer
Real-time sentiment-analysis
18. Middle of the Funnel (MoFu):
The nature of the customer interactions significantly
changed throughout the marketing funnel
A number of different tools were used to help
prospective buyers move through the middle of the
funnel without engaging too much of the company’s
valuable human resources through the combination of
self-service (search driven FAQ, webinars, etc.) and
low cost, light-touch service (live chat, email).
HubSpot’s live chat representatives could handle up
to three conversations at one time via email or chat
which lead to a noticeable delay in their ability to
respond to each customer.
The cost of a chat rep was approximately $60,000 per
year.
HubSpot was attracting a pool of leads where 40%
were graded with scores ranging from 7 to 10, making
them worthy of a salesperson’s attention.
19. Bottom of the Funnel (BoFu):
The company was not willing to unleash its higher
priced salespeople (the cost of a highly trained
salesperson was approximately $120,000 per year, plus
benefits) to interact with prospects in the bottom of the
funnel until after it had converted visitors into leads
and qualified the leads to determine on which ones it
would be efficient to expend sales resources.
Chat reps were often able to set up sales meetings for
12.5% of qualified leads
Consultative selling process that could last up to 45
days, but which yielded a conversion rate of 20%.
Many leads that HubSpot had spent money acquiring
were ignored.
An early test of chatbots generated a conversion rate of
10% into sales meetings for qualified leads.
20. Chatbots in the Post-Sale Customer Service
Process
As a SaaS company, customer retention was a critical
part of HubSpot’s business model.
Chatbots could help strengthen its customer
relationships
Encourage continuous usage of the software
Reduce customer churn from dissatisfied customers
who abandoned the product in frustration
The chatbot test had generated six times the number
of qualified leads than what the company had
achieved using email to nurture customer
relationships.
21. Even with
phenomenal
technology, we
still want to
ensure that there
is a personal
relationship
between the
company and its
customers
– David Nelson
Founder and CEO
MotionAI