[Updated] 21 Vital Chatbot Statistics for 2020
Welcome, ladies and gentlemen. The future is here. It’s the age of technology, easy communication, and well-informed consumers. And this growing need for quick, easy and effective results has resulted in – you guessed it! – the rise of chatbots.
Chatbot awareness is growing. Our customers are developing expectations about the way our brand should communicate with them through this medium. As a result, more and more companies are now creating chatbots in order to meet these expectations.
Are you up to speed with this latest development? To make sure that you stay onboard the (extremely fast-moving!) chatbot train, we present to you 21 Chatbot Statistics for 2019 that will definitely give you all the insight you need to become a chatbot expert.
Let’s begin, shall we? Hold on tight!
Uses of Chatbots
These days, consumers expect to find the information they’re looking for online quickly and easily. And when a business can’t provide that type of experience, they become frustrated. Chatbots are poised to ease these frustrations by providing the real-time, on-demand approach that consumers are increasingly seeking out.
Our customers have spoken, and this is what they expect from chatbots. Take a look at some of the most popular uses of chatbots according to a recent survey:
1. 37% expect to get quick answers to questions in an emergency.
2. 35% expect to get detailed answers or explanations.
3. 34% use a chatbot as a means for getting connected with a human.
4. 33% wish to use chatbots to make reservations, order online etc.
5. 95% of consumers believe ‘customer service’ is going to be the major beneficiary of chatbots.
As you can see, what customers want from a chatbot is essentially easy communication. Ultimately, chatbots are a technology that can help bridge the gaps between business communication channels, and that can help you deliver a better, speedier online experience to your consumers.
Chatbots: The Present
Take a quick look at these statistics about chatbots and their present state. They’re sure to help you understand how you can use one for your business!
1. Chatbots are equally popular among millennials and baby boomers.
According to Mobile Marketer research, around 40% of millennials say they chat with Chatbots on a daily basis.
2. Users prefer chatbots over apps when communicating with companies.
In fact, 56% of people would rather message than call customer service.
3. 53% of people are more likely to shop with businesses that they can message.
Chatbots are popping up like dandelions, and companies are rolling them out to improve customer convenience.
4. More than 10,000 bots are being used on Facebook Messenger already.
Facebook Messenger bots are a mashup of social, mobile, and instant messaging power – which is exactly the direction that marketing is going in.
5. Chatbots can save upto 30% in customer support costs.
They help to reduce operational costs, save time and manpower.
6. 28% of top-performing companies use AI for marketing.
From Spotify to Sephora, more and more brands are tapping into the opportunities chatbots offer.
7. In 2016, the chatbot market was valued at $703 million.
According to Global Market Insights, the amount is expected to jump in 2024 to $1.34 billion!
8. 67% of consumers worldwide used a chatbot for customer support in the past year.
9. And finally – 35% of consumers want to see more companies using chatbots. (Ubisend, 2017)
So what are you waiting for?
Chatbots: The Future
Check out these stats regarding what the future holds for chatbots:
1. 31% of top-performing companies plan to use AI within the next 12 months (Adobe, 2018)
2. By 2022, banks could automate up to 90% of their interactions with chatbots. (Foye, 2017)
3. 96% of businesses believe chatbots are here to stay. (Mindbrowser, 2017)
4. $4.5 Billion is expected to be invested in enterprise intelligent assistants by 2021. (Opus Research, 2017)
5. By 2020, over 80% of businesses are expected to have some sort of chatbot automation implemented (Business Insider, 2016)
6. Chatbots may take over email marketing.
7. Cross-channel support will become the norm, not the exception.
Cross-channel support for chatbots is where the bot knows who you are regardless of where you chat. An example would be flipping someone from a marketing campaign on facebook over to your website. Now imagine you call later – you’d want the experience to continue right? The same chatbot should know your conversation and case history so it can be helpful. And as we all know, continuity is important for a great experience.
Of course, it is important to remember that chatbots – like all technologies – aren’t without their limitations. In fact, 43% of consumers said they prefer dealing with an actual person (that was the number one potential barrier to using chatbots).
That being said, 34% of consumers also predicted that they would use chatbots for getting connected with a human.
Our takeaway is that it doesn’t have to be either/or. As a business, you can use chatbots to supplement your human workforce (not replace them). By using chatbots in combination with online chat and that irreplaceable human touch, businesses can deliver a level of real-time service that is sure to keep their clients happy!
There’s been a lot of hype around chatbots recently, and we hope this blog about chatbot statistics for 2019 has helped to separate fact from fantasy. Also, look into some of the best practices for building a chatbot. You, the marketer, are on the front line of the chatbot revolution.
Are you ready for it?
Anoushka Chopra is a marketing executive at Outgrow. When not reading, she can be found traveling, enjoying puns, or spending way too much time in front of the laptop.