Digital transformation is changing our lives and modern customer communication has evolved at a faster pace with technologies like artificial intelligence and machine learning. More and more businesses are embracing digital techniques to boost their business growth and this figure has been reached up to 89%.
mCommerce is also a growing industry and social media apps are now a key destination for consumers to buy and sell goods online. Chatbots are at the center of business messaging and playing a vital role in seamless customer experience. According to some leading survey agencies, by the end of the year 2020, over 80% of businesses are expected to implement chatbots in their product selling ecosystem.
A wide range of benefits are associated with building a chatbot, but one obvious query that every business owner asks before investing in this technology is: “Do chatbots really produce desired outcomes or is there any way to find out the efficiency of chatbots?”
So, the simple and straight answer is yes! You can evaluate the performance of your chatbot and monitor the important aspects.
Here are 5 key metrics that can help you to determine the performance of your Chatbot:
1 Average Session Time
It can be defined as the time period for which a chatbot communicated with a customer. The average session time relies upon the activity performed by the chatbot. You can better understand it with this example. The chatbots that are used to provide weather updates have relatively less average session time compared to a chatbot helping in shopping, flight booking. Hence, the average session time is an important factor to track the performance of your chatbot.
The prime reason why chatbots are so popular among users because they are extremely fast. The reason why they are fast is that they are carefully integrated with the knowledge-based database and programmed to fetch information and respond quickly. So, speed is a crucial parameter of the efficiency of chatbots. High-quality chatbots should be capable of delivering fast responses for effective interactions.
A well-designed chatbot comes with many useful functionalities like rich media use, onboarding, navigation, and much more for a seamless customer experience. Good chatbots should welcome users with a series of onboarding steps, use engaging rich media images with text to get the user’s attention. These features can really help to track the performance of your chatbot.
4. Revenue Generation
Here comes the money part! All the efforts are made to get the monetary outputs in any type of business. The best way to evaluate the performance of a bot is to identify the revenue it is generating for the business. Here, we are not talking about the profits generations only, but the amount of money saved on maintaining a customer service team in the complete process. If the client is satisfied with your service, this is a good sign about the performance of your chatbot.
5. Rate of Activation
In these metrics, you can find out the rate at which a user responds to a chatbot’s first message with a question or answer that is related to the product customer is purchasing, In other words, you can understand it as the number of users who go beyond the initial interaction.
- The number of users who interacted with the chatbot.
- How many users sent a message to the chatbot.
- How many new users are sending a message to your bot?
To summarize in a nutshell, when we identify the metrics it becomes easier to understand how chatbots operate with the desired needs of the users. Hence, considering the right chatbot performance metrics can help you to deliver an exceptional user experience and increase your business sales.
At Revinfotech, our chatbot developers build chatbots that support multiple industries’ technology verticals. If you want to know more about our chatbot development services, you can visit our website here.
Disclaimer: This blog is for information purposes only. We strongly advise our readers to do their diligence about views expressed in the blog and our company is not responsible for anything.