[Updated] 50+ Vital Chatbot Statistics for 2023
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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. And, we are here with some vital chatbot statistics for you!
Chatbot awareness is growing. Customers expect better and more personalized communication with brands. 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 aboard this (extremely fast-moving!) chatbot rollercoaster, we present to you 50+ Chatbot Statistics for 2023 that will definitely give you all the insight you need to become a chatbot expert.
Let’s begin, shall we? Hold on tight!
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Uses of Chatbots
Consumers today expect to find the information they’re looking for online quickly and easily. And when a business can’t provide them with an efficient experience, it leads to unrest. Chatbots are poised to ease these frustrations by providing the real-time, on-demand responses 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:
- Chatbots can help in cutting operational costs by up to 30%.
- 37% of people expect to get quick answers to questions in an emergency using chatbots.
- 35% expect to get detailed answers or explanations from chatbots.
- 34% use a chatbot as a means of getting connected with a human.
- The #1 predicted use case for chatbots is “getting a quick answer in an emergency”, followed by “resolving a complaint or question”.
- 95% of consumers believe ‘customer service’ is going to be the major beneficiary of chatbots.
- Chatbots can answer up to 80% of all standard questions.
Chatbot: The Go-To Customer Support
Good customer service is a must if you want your customers to keep coming back to you. More than acquiring customers, it’s important to retain them. In fact, acquiring new customers costs 5X more than retaining the existing ones.
And that’s what chatbots are here for! See how chatbots rule the customer support world with these amazing chatbot customer service statistics:
- 27% of consumers couldn’t say for sure if their last customer support interaction was with a real person or a chatbot.
- 34% of retail customers would be comfortable speaking with an AI chatbot instead of a live customer support representative.
- 64% of businesses believe that chatbots allow them to provide a more customized support experience for their customers.
- 56% of customers prefer to message rather than call customer service.
- 30% of live chat communication can be taken care of by chatbots.
- 69% of consumers prefer chatbots for receiving instant responses, and they’re most likely to use chatbots for service-related inquiries.
- Businesses can save up to 30% on their customer support costs with chatbots.
Chatbot: The Conversion Machine
Yes yes, we love us some leads. And, chatbots are one of the most effective ways of lead generation. They offer valuable solutions and engage the customer in exchange for valuable lead information. In fact, according to Databox research, these marketing channels yield the most leads:
Check out more chatbot engagement statistics about how they help you convert a lot better!
- eCommerce stores adopting Facebook Messenger along with an abandoned cart chatbot have started to boost revenue by 7-25%.
- 55% of businesses that use chatbots regularly have generated high-quality leads.
- For a Cognizant survey, nearly one-quarter (22%) of respondents said they already trust chatbot recommendations for product purchases.
- 27% of adult clients in the US are ready to purchase basic goods through a chatbot and 13% of adults in the US have at least once bought expensive items via a chatbot.
- Better bot experiences with more engaged audiences are getting 80-90% response rates. And, even the least favorable experiences are in the 35-40% range.
- Business leaders claim that on average, chatbots have increased sales by 67%.
- 57% of businesses claim that chatbot delivers a big ROI on minimal investment.
- According to chatbot statistics 2020, 41.3% of consumers said they use chatbots for purchases.
Chatbot: The Customer’s Favorite?
What customers want from a chatbot is essentially easy communication. Ultimately, chatbots are a technology that can help bridge the gap between business communication channels and deliver a better, speedier online experience to your consumers. But what do customers actually think about these bots? Let’s see!
- According to 64% of internet users, 24-hour service is the best feature of chatbots.
- 87.2% of consumers rate their typical chatbot experience within the range of neutral to positive.
- 35% of consumers want to see more companies using chatbots.
- The number of consumers who think that companies should never use chatbots is just 9%.
- 48% of people care more about a chatbot’s ability to solve their issues than it having a personality.
- 40% of consumers are indifferent to engaging with a chatbot or a human for help.
- Approximately 60% of millennials use chatbots regularly to make basic purchases.
There are also people who do not really like chatbots. Here are some chatbot statistics about them:
- 30. 60% of consumers believe that, compared to a chatbot, a human can better understand what they need.
- 31. And, 60% of people still prefer to wait for an agent instead of talking to a chatbot.
- 32. 60% of consumers aged 35-44 believe companies have been quick to replace human representatives with chatbots.
- 33. 46% of consumers feel that chatbots are being used to prevent them from reaching a live person.
Nevertheless, here’s what customers like about chatbots the most:
Chatbot: The Dynamic
By now, you should know that chatbots are everywhere. Moreover, they are used for almost everything. Anything that requires automation has a chatbot in it. Here are some chatbot growth statistics for you to understand the dynamism of chatbots:
- The top 5 industries profiting from the incorporation of chatbots are:
a. Real estate- 28%
b. Travel 16%
c. Education 14%
d. Healthcare 10%
f. Finance 5% - 35. 58% of B2B companies and 42% of B2C companies use a chatbot on their websites.
- 36. The top 5 chatbot-using countries are the USA, India, Germany, the UK, and Brazil.
- 37. 38% of consumers think brands should use chatbots for deals, coupons, and promotions.
- 38. 55% of consumers are likely to try a chatbot that offers location-based deals.
- 39. 33% of consumers want to use a chatbot to make a reservation at a hotel or restaurant.
Customers are using chatbots in multiple ways to make their processes smoother. Here are some of them:
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!
- 1.4 billion people are using chatbots.
- In 2021, close to 1 in 6 global customer service interactions are handled by AI.
- 56% of companies say conversational bots are driving disruption in their industry, and 43% report their competitors are already implementing the technology.
- 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.
- 39% of businesses use chatbots to make their websites more interactive.
- 53% of people are more likely to shop with businesses that they can message.
- 58% of the companies that use chatbots are B2B and 65.1% are SaaS companies.
- 67% of consumers worldwide used a chatbot for customer support in the past year.
- Interest in chatbots has increased almost 5 times over the period of 5 years according to Google Trends.
So what are you waiting for?
Chatbots: The Future
Check out these stats regarding what the future holds for chatbots:
- 70% of white-collar workers will engage with chatbots daily by 2022.
- By 2022, 75-90% of queries are expected to be managed by chatbots.
- By 2022, chatbots will save businesses an aggregate of over $8 billion per year.
- The global chatbot market is projected to be over $994 million by 2024.
- By 2022, banks could automate up to 90% of their interactions with chatbots.
- 96% of businesses believe chatbots are here to stay.
- Growing at a CAGR of 24%, the global chatbot market is expected to reach USD$1.3 billion by 2025.
- By 2022, chatbots can reduce the cost of customer interaction by $0.70.
- Chatbots may take over email marketing.
- $112 billion is the projected value of chatbot e-commerce transactions by 2023
Of course, it is important to remember that chatbots – like all technology – aren’t without their limitations. So, 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!
Read Next : Best Practices for Building a Chatbot
Are you ready for it? Start building your own chatbot with Outgrow now! Claim your free trial here!
Sources:
Tapsi is a full-time digital marketer at Outgrow. When she is not discussing the latest marketing hacks, you can find her clicking pictures of her adorable labrador, Captain.
