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Local deals and discounts company Retale has launched its own chatbot on Facebook Messenger called RetaleBot, reports VentureBeat.
Retale works with more than 1,000 US retailers to provide users with promotional information about stores close to their location, including major brands like Target, Best Buy, and Macy's. The new chatbot will provide up-to-date, localized information on current promotions or store information to its users, either when prompted or on a subscription-basis.
Retale's chatbot on the hugely popular Messenger platform will likely help drive up traffic and sales at brick-and-mortar stores, especially among savings-driven consumers.
RetaleBot is leveraging Facebook Messenger's subscription option to increase engagement. Earlier last week, Facebook rolled out a new tool for brands using chatbots on its Messenger platform that allows for subscription messages. This means that users can sign up to receive regular messages from a chatbot without directly prompting it, in addition to asking it a question directly.
For example, users can sign up to receive regular updates about their local Macy's when it runs a new promotion. Users can also ask the chatbot questions about local promotions that are happening, broken down by product category or retailer. This consistent, repetitive nature of the RetaleBot will help drive up engagement among users.
The Retale chatbot will likely gain a lot of traction with shoppers, as coupons are still one of the most influential factors on a shopping journey. Coupons are just as influential with the average consumer as they are with brand loyalists. This means that shoppers can be lured away from their preferred retailer to take advantage of a promotion. In fact, 85% of all consumers would try a new product due to a coupon, whereas 84% of brand loyal shoppers would do the same, according to a report from Valassis.
The strong influence coupons exert on shopper behavior implies that this chatbot has the opportunity to significantly increase in-store traffic and incremental spending. Furthermore, the subscription feature of RetaleBot may help drive up in-store sales should customers feel like they're being presented with a limited-time offer. Unprompted push notifications can carry a sense of urgency to help drive shoppers to the store and result in higher conversion rates.
Advancements in artificial intelligence, coupled with the proliferation of messaging apps, are fueling the development of chatbots — software programs that use messaging as the interface through which to carry out any number of tasks, from scheduling a meeting, to reporting weather, to helping users buy a pair of shoes.
Foreseeing immense potential, businesses are starting to invest heavily in the burgeoning bot economy. A number of brands and publishers have already deployed bots on messaging and collaboration channels, including HP, 1-800-Flowers, and CNN. While the bot revolution is still in the early phase, many believe 2016 will be the year these conversational interactions take off.
Laurie Beaver, research associate for BI Intelligence, Business Insider's premium research service, has compiled a detailed report on chatbots that explores the growing and disruptive bot landscape by investigating what bots are, how businesses are leveraging them, and where they will have the biggest impact.
The report outlines the burgeoning bot ecosystem by segment, looks at companies that offer bot-enabling technology, distribution channels, and some of the key third-party bots already on offer. The report also forecasts the potential annual savings that businesses could realize if chatbots replace some of their customer service and sales reps. Finally, it compares the potential of chatbot monetization on a platform like Facebook Messenger against the iOS App Store and Google Play store.
Here are some of the key takeaways:
- AI has reached a stage in which chatbots can have increasingly engaging and human conversations, allowing businesses to leverage the inexpensive and wide-reaching technology to engage with more consumers.
- Chatbots are particularly well suited for mobile — perhaps more so than apps. Messaging is at the heart of the mobile experience, as the rapid adoption of chat apps demonstrates.
- The chatbot ecosystem is already robust, encompassing many different third-party chat bots, native bots, distribution channels, and enabling technology companies.
- Chatbots could be lucrative for messaging apps and the developers who build bots for these platforms, similar to how app stores have developed into moneymaking ecosystems.
In full, the report:
- Breaks down the pros and cons of chatbots.
- Explains the different ways businesses can access, utilize, and distribute content via chatbots.
- Forecasts the potential impact chatbots could have for businesses.
- Looks at the potential barriers that could limit the growth, adoption, and use of chatbots.
To get your copy of this invaluable guide, choose one of these options:
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The choice is yours. But however you decide to acquire this report, you’ve given yourself a powerful advantage in your understanding of chatbots.