Although bots have existed for quite some time now, with platforms like Kik & Telegram having them way before Facebook came out and made a huge splash about it, and others have followed suite – Microsoft (did not make a big deal about it but has opened up Skype), Apple (has opened up & has Siri integration in beta) etc. And surely having eight-hundred-pound Gorillas of a digital outfits backing a trend definitely boosts its cause. But I think there is more to it, and like all economists would say the answer lies in the Demand & Supply equation.

The Supply side is a longer discussion and I shall cover that in my subsequent post, and how we might still be a few steps away on leveraging open domain AI systems (ask me anything text based bots) for commercial & Enterprise use, but the closed domain AI systems (discussion in a context) are already there. And disclaimer but no surprises that, it is where our firm, Hashblu is also investing in. But more on that later.

In this post I will be focusing on the demand side, on why the consumers have actually moved on from the traditional modes of contact centers, online stores and with an average of 27 apps, there is no more room left for another enterprise app on the phone.

Studies show that by the year 2030, seventy-five percent of the global workforce will comprise millennials (aged between 18 and 35 years) and Gen Z. Millennials are the first generation to grow in a thriving digital world where the use of mobile phones and social media platforms has increased immensely. As such, companies are obliged to incorporate social media into their marketing strategies and customer care services to meet the expectations of this increasingly thriving generation. And Generation Z are forcing them to go beyond just a presence & start making these channels mainstream.

The consumers these days are heavy users of portable devices and are connected to their choice brands wherever they are; thus, social media and other online channels are a significant source of customer service for this generation. Additionally, the millennials & the impatient Generation Z are more responsive to customer service that is immediate, personalized and highly interactive. A few facts about the millennials may help companies understand them and improve their customer service:

• Every four in five millennials prefer using social media platforms for customer service to calling customer care centers for help.
• Millennials are very unforgiving when it comes to poor customer service. In fact, approximately 80% will stop using a product after one bad experience.
• Many millennials loath calling customer care centers.
• At least 25% of the millennials expect feedback within ten minutes of reaching out to customer service through social media.
• Clearly, the consumers today require a particular kind of customer service, and it’s up to companies to find out how to provide exceptional customer service via social media platforms.

Clearly, the consumers today require a particular kind of customer service, and it’s up to companies to find out how to provide exceptional customer service via social media platforms.

Here’s how:

Self-reliant

The millennials are accustomed to finding information on their own. In fact, according to a recent global report, 40% of three thousand consumers prefer self-service to individual customer care. Thus, the millennials & Generation Z almost expect a company to incorporate a self-service app like trouble shooting guide, FAQ page and a community forum to help solve customers’ problems.

Create a digital presence & rack space

Besides not wanting to speak customer care reps, Millennials engage with brands more personally, emotionally and extensively. They want to interact with the face behind the name: that’s why companies ought to & the successful ones have created presence on the popular digital channels like Twitter, Facebook Messenger, Instagram, Snapchat etc. This presence allows the consumers to interact with the brands and currently its limited to a ‘crib & complaint’ mode, and the rack space for ‘sell & service’ if you will, has not been created as yet. But we are rapidly moving towards it, as these consumers end up spending up to 80% of their online time here. That is where the footfall is!

Prompt response

As earlier highlighted, millennials expect feedback within ten minutes of reaching out to a company. Growing up in an era where mobile devices and internet services are readily available, Millennials can easily relate and connect to a brand; thus, expect companies to respond in a similar manner. Research shows that nearly half of the consumers using Facebook expect feedback on the same day while those on Twitter expect a ten-minute response. So it’s no surprise that the messaging & other digital channels (Siri, Cortana & their friends) have caught on to these user traits and are hoping to leverage them for making themselves available to Enterprises, who in turn benefit from increased digital revenue & far better & importantly contemporary customer experience. Next time post, Bot Bot Everywhere, which Bot to Pick.