Why 80% of Businesses Are Approaching Chatbots In 2020?

Artificial Intelligence is changing the way we use technology. In a recent article found that 80% of the companies will be using chatbot by 2020.  Chatbots are interactive software that is used in apps, live chats, emails, and SMS, and behave like humans.

Many business owners said that they will use a chatbot in sales, marketing, and customer service. 42% of owners believe that in automation technology customer experience will improve and 48% said they are already using a chatbot for their business function.

 

Benefits of chatting with rather than using traditional channel

1. It is faster than any other means of communication
2. Provides higher quality feedback
3. Answers are honest

Chatbots provide a more personalized service experience for customers. A chatbot is a perfect tool to confidently transition leads from consideration to conversion. The main reason for investing is to improve the customer experience and another reason is that customers don’t like to wait in this fast-moving world. It is forecasted that the chatbot market will reach $1.25 billion by 2025.

The on-time response is the key to meet customer expectations. No one in this fast-paced world wants to wait for hours before the support team turns up for the user queries. Whatever your service or product is, your business success depends on how strongly you are connected to your users, and how quickly you resolve your customer queries. Every chatbot provider is updated with the latest trend of AI and voice assistants to keep up with the technology-enhancement and offer constant brand experience.

 

How Chatbot helps businesses to improve customer services and support

 

Let’s discuss the Importance of adopting Artificial Intelligence in your business and how you can win new customers and retain the existing ones.

Customer Support Enhancement

Human customer support agents can handle only a few concerns at a time but with the help of chatbot, organizations can handle an undefined number of customers. By this productivity of businesses can be boosted and allow human agents to focus on other tasks.

Satisfied Customer

By chatbot user-friendly conversation can be started with providing customer better satisfaction with a quick and relevant response. Bots with advanced technology can understand the query and answer the best possible solution.

Interaction Like Human

Without any human effort, the chatbot can engage and respond to customers. Businesses with a chatbot can save time as customers don’t have to go for a frustrating process. 

Lessen Efforts and costs

By using AI and chatbot technology businesses can save more than 29% expense from the original cost. Bots help to lessen the service cost and speed up the response time without agent involvement. 

User Need Analyzing

Bots can understand the user’s voice and analyze customer sentiments that help businesses from loss. One chatbot is enough to solve the queries of many users and avoid the case of customer dissatisfaction. 

 

Wrap Up

Implementing chatbot is a smart choice for any business that wants to boost their productivity, engagement, and customer base. With the help of AI voice bots, brands can give a human touch to the conversation with the user and enhance business value. If you want to know the power of chatbot and make your business acknowledgeable in today’s world contact the Best Chatbot Development Company in UAE today.

How to Create Successful MVP

May 2, 2020

Do you have an idea for a product but not sure if you can successfully implement it or not? The majority of startups fail because the market doesn’t need them. Bringing a product to market is always a big risk. But to minimize the risk, you can first develop a minimum viable product (MVP).

To understand what customers need from your product, you should develop a minimum viable product. MVP allows you to study the situation on the market as well as its costs, also less than a full-fledged solution.

What is an MVP

MVP is a product with just enough features to satisfy early customers and getting feedback for future product development.

The Purpose of a Minimum Viable Product

A minimum viable product includes only essential features that will solve the customers’ problems. Everything else will be developed after reviewing the user feedback. Companies only develop MVP to verify the economic viability of the product.

MVP Goals

1. Testing a product viability at low costs.
2. Spending less money on product development.
3. Faster delivery of a product that solves at least one problem of a user.

Benefits of MVP

Faster Release and cutting the development costs

In MVP, you only spend time in building features that are absolutely needed which save from to invest in development cost as well as beneficial as quick delivery of the product

Room for evolution

An MVP benefits your business by providing an engine for growth. Because you can receive valuable feedback from early users and can use this feedback to update your product. 

Testing Business Concepts and market demand

The biggest benefit of developing an MVP is that it allows organizations to test their business concepts and ideas. MVP process to not only test the feasibility of their respective products but also to develop functionality over time based on user test data and feedback to gradually evolve towards the mature applications.

Get the funding from the investor

Receiving funding from the investor is to build confidence in the product and its ability to achieve the desired outcome. By representing your MVP you can easily impress the investors to invest in your product. 

How to build an MVP

• Figure out, What problem you are solving and for whom

The concept of developing an MVP is quite simple. Your goal in creating an MVP is to create the smallest, fastest, and most functional version of your idea, something that can be tested quickly and easily, over and over again, until it works. Before you initiate an idea and embark upon an MVP Development process, ensure that it fulfills the target users’ needs

• Define the user flow

To define the main flow of users, we must first define the stages of the process. You need to look at the app from the users’ perspective. This is actually quite easy because all you need to do is explain the steps necessary to achieve the main objective of your product. As soon as all these steps of the process are defined, we can define characteristics for each stage.

• List out the features

1. Ask yourself: What is the most important action I want my users to take? [Note: this will be its main feature]
2. Ask yourself: What other facilities do I have to provide? essential with [Explain why you need each of these essentials, then cross out the least important ones.]
3. Now all the features under the categories should be graded ‘must-have,’ ‘nice-to-have’, and ‘don’t care.’ can story making techniques make this process easier. You can build a matrix where you have a horizontal row that shows the main stages of the process (our user flow) and below each stage a series of features dedicated to this stage.
4. Once you have added all the steps and features for each step, you can draw a vertical down arrow that goes from “high priority” at the top of the column to “low priority” at the bottom. Now, you’re ready to start organizing features based on priority. Move stories that are crucial up the column and other stories down. Always pay attention to the whole process.
5. When you have prioritized all features, you can define your scope for the first version of the product as well as M.V.P can proceed to create, if you want to see how your future product will be, so you can create m.v.p prototype first.

• Build, test, and learn

When the first step of work is defined, so we move towards development, as soon as the development work is completed then we need to test it. The first testing phase is conducted by our Quality Assurance engineers. which is to enhance the quality of the product. They ensure that a product is prepared for alpha or beta testing. you can start improving your product again and then try, and learn, and build again, and try again, and learn again. 

• Analyze your competitors

It is clear to say that if there is already a similar product in the market, then you must also make a competitor analysis, keep in mind if you think so, that you have no competitors in the market, your belief in the uniqueness of your product is not a sufficient reason to bring your product to the market with confidence. Competitor analysis is important no matter what the situation. 

Aryavrat Infotech helps you to identify opportunities in the different marketplaces, raise your revenue, and help to build your business. we think it’s worth trying & for more info: sales@aryausa.com

What is Digital Transformation and Why it is required ?

What does Digital Transformation mean?

Digital transformation is the strategic opportunity to incorporate new technologies in organizations that allow them to be more efficient and the possibility of generating new business opportunities. According to the survey expected Revenue from the global digital transformation market from 2017 to 2022. and By 2023, spending on technologies and services that enable digital transformation worldwide is expected to amount to $ 2.3 trillion.

These new innovative technologies are transforming the economy, the way of doing business between companies, the way of working and the way of living. 

The main technologies and the ones that are more fashionable are Big Data, Mobility, Internet of things, etc. but there are many more concepts that are included under the term Digital Transformation such as Digital Marketing, Customer Experience, eCommerce, CRM, Social Media & Social Business.

Why is Digital Transformation Important for Business?

Many large companies are already involved in digital transformation processes, those who succeed will be a game-changer.

“The species that survive are not the strongest, nor the fastest, nor the most intelligent; but those who accept better to the change ”.

Digital Transformation Road-map

Vision, strategy, and leadership

It is essential that the digitization process is sponsored by the company’s senior management. That decides the company has a clear and up-to-date vision of why the change is necessary and what value it brings to the organization, that what it is committed to carrying out and provides the appropriate means and resources to do so.

Business processes

The change from an analog to the digital world has much deeper implications than the introduction of digital media in the company’s relationship with the customer; To achieve a true transformation towards a digital organization, the internal processes of the company must be aligned with the process of change and digitized.

Technology

The fundamental driver of this process of change is technology, it is essential to know in depth the possibilities that technology opens today in different fields such as Big Data, mobility, internet of things, eCommerce, digital marketing, collaborative economies, business models.

Organization, team and digital culture

It is necessary to have a team of people with the necessary training and skills to lead the digital transformation in the company. The most advanced organizations already have a specific managerial position to lead the change, the Chief Digital Officer, a profile halfway between strategy, business development, innovation, marketing, technology … But it is not enough to appoint a digital manager, It is necessary to remove the walls between different areas of the organization and generate a culture of digital transformation through multi-disciplinary teams that build a joint vision.

Aryavrat is here to help in this Digital Transformation world, in order to approach the complex process of digitization with the maximum possible guarantees and achieve the objectives pursued, it is essential that the digital transformation is led with a global vision of the process from the understanding by senior management of the implications it has. indifferent aspects of the organization.