Chatbot Marketing Size and Analysis
As pioneers in the chatbot industry, it is our duty to perform accurate and unbiased research.
We often survey, question and profile consumers to understand their thoughts, feelings and needs around chatbots. We recently carried out a survey of 2,000 UK consumers (grab the full report here).
This post will cover my thoughts on the chatbot market size with some analysis on the best way to perform chatbot marketing in 2017.
We asked Morar Consulting to perform the research for us. Not only are they world leaders, but by going to an external company, it stops any bias sneaking into our questions.
The drive in chatbot adoption by business is gradually starting to impact consumers. Now expecting an on-demand service and more aware of the benefits of artificial intelligence and automation, consumers are no longer willing to put up with the "we aim to reply within 24 hours" or "please hold for customer service" behaviour.
Fifty-seven percent of UK consumers are now aware of chatbots, and already a whopping 35% want more companies to adopt the technology to perform customer service.
What do consumers want from chatbots?
Well, interestingly, 68% want an answer to their question. Sounds obvious, but to me, it suggests chatbot developers should forget all the fancy stuff and just make sure the consumer is getting what they ask for.
Forty-eight percent want chatbots to solve their questions faster than any other means.
Seventy percent of consumers said they would choose to talk to a chatbot over a human because it will provide an instant answer, and 21% believe it to be the easiest way to contact a business.
For ecommerce, on average the UK consumer would be willing to spend £314 via a chatbot. Segment 26 to 36 year-olds and this amount rises to £481.
Forty-three percent of consumers consider brands that use chatbots as innovative and 30% as helpful. Although, as a shot across the bow for early adopters, 35% thought a brand as less personal and 23% as gimmicky. (Top tip - always fall back to human and consider the end user while in development).
In a world where convenience is king, brands are adopting chatbot technology to differentiate themselves from the competition. A well developed and implemented chatbot can communicate with an audience, on-brand, 24 hours a day seven days a week.
The technology powering these solutions can now match the end users demand, ever growing the conversational commerce market size. Now is the time of the chatbot.