COVID and the lockdown across the country that followed in its wake has left an indelible mark on the foodtech companies. For starters, not only did businesses struggle to get their usual restocking, but their employees had no time off either as they attempted to keep themselves afloat as much as possible. Around the world, most businesses have turned to conversational messaging, for more customer engagement and retention. However, restaurant businesses have been a step ahead in adopting text-based conversations with customers with companies such as Swiggy and Zomato leading the way in terms of customer engagement experience.
The food industry is a very competitive one. There have been many small companies that have gone out of business due to larger, more powerful businesses stealing their customers. As a mobile/food app marketer, you need to have a user retention strategy in place to keep your users engaged and keep them using your app again and again.
WhatsApp as a messaging channel has been gaining a lot of traction because of its wide range popularity and easy-to-use interface. WhatsApp chatbots are also garnering attention for offering a frictionless customer experience. When setting WhatsApp chatbots as your new business communication channel, the first important step is to clearly communicate how both existing and potential customers can contact your business when required with a well-organized awareness campaign.
The healthcare industry is under a lot of pressure lately, especially due to COVID and its ripple effects. The way hospitals traditionally conduct business isn’t enough to deal with the current demands being placed on the system by an increasing number of people who are looking for quality healthcare without the face-to-face barriers that prevent so many from seeking treatment. How can something be done about this?
Well, in large part the answer lies in better ways to reach patients than relying on traditional platforms like landlines and even SMS when you consider that a person checks their phone as many as 23 times each day which means there’s nothing more likely to grab someone’s attention than a text message. Healthcare sector needs to think about whether or not their target audience uses messaging services and then take the time to converse with those who happen to use them on a regular basis. This form of digital engagement is an excellent way for people to get the service they need in the moment that they need it most: when people are online.
Softwares with automated updates are changing the way users communicate via technology. An industry which is growing leaps and bounds is the supply and logistics industry. According to ICRA, the Indian logistics sector will grow 8-10% annually, surpassing the five-year CAGR that preceded it.
The demand for auto-updated software and 24*7 customer assistance at an affordable price is driving the increasing need for chatbots. Additionally, digital assistants’ learning algorithms to develop human-like conversational experiences is now a core competency that many top companies need in order to streamline their support procedures. A report by MarketsandMarkets on the Chatbot Market states that the market size will grow to USD 9.4 billion by 2024 at a CAGR of 29.7%. With such a surge expected in the future, sectors like logistics are increasingly turning to digital assistants, chatbots and virtual assistants in order to implement real-time communication technology. And what better platform to integrate your business chatbot on than the most popular messaging channel in the world; WhatsApp!
When was the last time a travel agency booked your flight or a hotel room for you? Travel agencies did this back in the day, but that needed to make way for something more convenient and less stressful! These days instead of checking with travel agencies or standing in long queues, we simply type in a few keywords and the second we reach our destination we already know what’s ready and waiting for us.
Chatbots are the new travel assistants. You can ask them generic questions as well as specific queries. All the questions are answered with equal elan and minimal turnaround time. This is possible only because of the development in technology and businesses being open to integrating the same in their operations. Chatbot integrations have become a must for any industry that wants to reduce their operational costs involved in customer support and customer interface. Be it real estate, fintech, edtech or the travel industry.
The development of smartphones has given e-commerce companies a much easier way to use mobile messaging to get their brands across. Now, instead of waiting for people to come looking for them, businesses are targeting individuals directly through messaging apps such as Facebook Messenger, Instagram Stories and WhatsApp. And when it comes to the business potential behind WhatsApp chatbots and Facebook Messenger marketing, it makes sense that in terms of profitability and numbers, WhatsApp is currently the top messenger platform.
With the evolution of AI and its implementation across various domains, chatbots have emerged as one of the most important tools to improve the user experience for businesses across the globe, including fintech. Like every other major sector of the economy, fintech is an area that is a big beneficiary of the boons of AI. A study conducted by Deloitte emphasised the importance of digitisation in the fintech sector as the industry continues to grow and embrace mobile-centric customer experiences.
A chatbot is a conversational computer program designed to interact with humans with several input and output methods, like text, voice, touch, and gesture. Chatbots online have become a very common and in-demand function for websites, portals, and platforms in 2021.
So, how do chatbots work, and how can it boost conversational fintech capabilities? Let us understand all this and more.
Every patient comes with their set of different health issues but does not get the specialised attention and care that they deserve. In such scenarios, message-based interactions make them feel that their healthcare provider is always with them, and is just one ping away.
What conversational chat provides is continuous and personal access to healthcare whenever needed, making it easy for patients to access their care at a pace that works best for them. They no longer have to feel as if they have to travel from doctor to doctor each time they need a check-up or have a question about one of their vitals! This has been shown to reduce the number of visits required by those who don’t live within reasonable proximity of a health center or hospital.
Enter – healthcare bots
In the last few years, there has been a fundamental shift in the way consumers interact and engage with brands. Consumers no longer want to download numerous apps on their mobile phones to engage with brands. Over 80% of consumers have reportedly abandoned transactions in the last year because brands wanted them to install their app in order to do business with them. Today, Conversational Messaging Apps have transformed the way we communicate and are fast replacing websites and apps as the main interface between brands and consumers. Instant communication and connection have become the way of life.
With WhatsApp Business, its 1.6 billion-plus consumers who send more than 60 billion messages per day now have a chance to interact and engage with their favourite brands in the way they want. Retailers and e-commerce brands already leverage WhatsApp Business Accounts for pre-purchase and post-purchase journeys. With the introduction of WhatsApp Commerce, they can now power the entire shopping journey of consumers.
Let’s understand what WhatsApp Commerce is and how it works.
Conversational messaging apps like WhatsApp have a simple, less-confusing interface which people are already familiar with. With almost 50% of the active Internet users on WhatsApp and an extensive adoption of digital payments and UPI in the last few years, India has seen an unprecedented adoption of messaging apps – primarily WhatsApp – for both communication and business. Given this, it has become imperative for retail businesses to reach users where they already reside, as research shows customers now expect a brand to be available through messaging as much as possible. In order to do so, retailers need to offer a service that customers will find useful.
The last few years have seen many changes in the way people interact with brands. Users are no more interested in downloading dozens of applications to their mobile phones. They want to get things done using one application at a time, which makes conversational apps the most preferred mode of interaction these days. Users would rather reach out to their favorite brand in the manner they communicate with friends and family – without having to download multiple apps all over again!
Messenger platforms are a hot topic today, thanks to the ease and intuitivity in using them. Speaking to family and friends has been a bliss due to the enablement of omnichannel communication replete with text messages, images, and more, by these platforms. Of late, a vast majority of customers are opting for messaging as the channel for interacting with brands as it allows them to reach out to enterprises on their own terms. The prospect of leveraging these platforms to provide a seamless shopping experience has gained a lot of traction in recent times. But which is the best platform to do so? WhatsApp clearly emerges as a winner as it has over two billion people across 180 countries using it for peer-to-peer messaging.
So, what are the reasons behind the optimism about WhatsApp’s emergence as a successful e-commerce channel in the days to come? While there are many that can be stated, we confine ourselves to three important ones in this blog.