Chatbot marketing stats are vital to elevate your business profits and improve user experience.
If you are thinking of implementing a chatbot for your business, then you have made an excellent decision. But, before implementing chatbots in your marketing strategy, you should check the different chatbot marketing statistics that affect the industry. This will help you understand what is happening in the chatbot and AI technology market.
To help you get started, I have listed various chatbot marketing stats divided into different categories like customer usage, business usage, and challenges.
Before discussing the chatbot marketing stats, let’s first understand what is chatbot technology?
Contents
What Are Chatbots?
Chatbots are programs that are built to engage with customers without having a live human agent. It basically automates conversation with users.
You can install a chatbot on a website that you can program in such a way that it responds to every user who visits your website.
Nowadays, you can create chatbots for whatsapp or Facebook.
Related: Best Marketing Automation Tools
Some of the best chatbot softwares are Manychat, REVE Chat, and Landbot.
Benefits Of Chatbot Marketing
- It saves the time of users and money for businesses.
- By using chatbots, users can get quick responses.
- Users don’t need to fill any form with details like name, email, or phone to get answers.
- Whether your business operates in the finance, technology, health, marketing, or other niche, chatbots fit all.
- It helps you boost engagement with customers.
- You can convert normal visitors into leads or even sales.
General Chatbot Marketing Stats
- The chatbot or conversational AI market is expected to reach $13.9 billion by 2025 with a CAGR of 24%. (Cognizant)
- The trend of chatbots has increased 5 times in the last 5 years. (Google Trends)
- Chatbots will save around $8 billion globally by 2022. (Verloop)
- The US (36%), India (11%), and Germany(4%) are the countries with the most number of chatbots. (Financesonline)
- It is expected that 75% to 90% of questions will be handled by bots by 2022. (CNBC)
- It is expected that chatbots will influence over 85% of customer support interactions. (Gartner)
- Over 50% of organizations will spend more money on chatbot marketing as compared to the traditional mobile app development in 2021. (Gartner)
- While shopping, 53% of customers like to shop with a business that offers a message to live chat. (Verloop)
- Businesses equipped with chatbots are expected to see growth in leads, sales, good customer support, and brand awareness. (Adweek)
- Sales (41%), customer support (37%), and marketing(17%) are the most common channels where chatbots are used. (Verloop)
- It is expected that $4.5 billion will be invested in chatbot marketing by 2021. (Verloop)
- 55% of users admitted that they like to receive quick responses to small queries from chatbots. (Drift)
- The 24-hour service in the chatbots is the best feature liked by 64% of customers. (Drift)
- In ecommerce, 34% of users admitted that they prefer to get answers from chatbots. (Pega)
- Using chatbots, businesses can save money on customer service by answering 80% of questions. (IBM)
- Businesses and customers will both save over 2.5 billion hours by using chatbots by 2023. (Juniper Research)
- In 195 countries, people use live chats to start conversations on the website. (Drift)
- Microsoft Cortana (49%), Apple Siri (47%), and Google Assistant (23%) are the top 3 AI chatbots. (Financesonline)
- 60% of agents admit that using chatbots, their client’s queries handling ability has been improved. (Accenture)
- 24-hours and instant response are the two top benefits consumers can expect. (Drift)
- In the US, 29% of customer care activities will be automated by using chatbots or AI. (Drift)
- Messaging can be a primary mode of contact for customer support as admitted by 83% of users but only if it gets a quick response. (Financesonline)
- 21% of users believe that chatbots are one of the easiest methods to contact a business. (Financesonline)
- From using chatbots and filling forms on the website, only 14% choose form filling. (Salesforce)
- It is seen that 48% of users feel comfortable while iterating with bots. (Financesonline)
Related: Best WordPress Plugins For Live Chat
Business Usage Chatbot Stats
- Currently, 58% of B2B companies are using chatbots compared to only 1% in 2018. (Boomtown)
- 67% of businesses believe that chatbots will outperform mobile apps in the next 5 years. (Financesonline)
- 88% of CX experts believe that Ai chatbots will not replace agents, only enhance. (CCW Digital)
- 58% of B2B organizations use chatbots on the website. (Verloop)
- In the software industry, 65.1% of businesses have implemented chatbots. (Relay)
- To create a customer-first culture, 53% of companies believe that they need to use AI chatbots. (Verloop)
- Chatbots are used by companies for IT departments (53%) and administrative tasks (23%). (Financesonline)
- With 53%, the IT industry is the top industry that uses chatbots technology. (Verloop)
- In 2021, big IT companies like IBM, Google, and Facebook will invest more in chatbots as compared to mobile apps. (Gartner)
- In the next five years, it is expected that chatbots will become the top consumer application. (Verloop)
- The IBM product Watson Assistant saw a growth of 59% between Feb to May in 2020. (IBM)
- Watson Assistant is also used by over 25 countries to assist customers with COVID-19 queries. (IBM)
- In a pandemic, Microsoft’s Healthcare Bot is also used by various US companies to answer over 1 million queries. (Microsoft)
- To get a quick response in emergency situations, 37% of users prefer to use chatbots. (Drift)
- Enterprise productivity, informational, and transactional bots are the most common types of conversational chatbots used on websites. (Accenture)
- The insurance sector will be expected to get benefits by saving $1.3 billion by 2023 as compared to the $300 million in 2019. (Financesonline)
- Small businesses (16%), medium companies (15%), and enterprises (24%) have started using chatbots. (Financesonline)
Related: Ways to Improve Customer Satisfaction Rating
Chatbot User Demand Statistics
- Chatbots are used by 40% of millennials. (Acquire)
- Human assistant is preferred by 43% of users as compared to a chatbot. (Drift)
- In America, 15% of adults use chatbots. (Financesonline)
- In the US, 43% of users prefer to use chatbots or live chat to address banking-related issues. (Financesonline)
- European market leads in chatbots usage by 45% of users. (Cognizant)
- For a better experience. More than 50% of users want businesses to offer 24/7 services. (AIMultiple)
- 24*7 service is the most useful functionality of chatbot, as admitted by 69% of users. (Verloop)
- 40% of users admit that it doesn’t matter whether a chatbot or a human helped them in online shopping till they got answers to their questions. (HubSpot)
- According to 38% of users, a brand should use chatbots for promotions, coupons, and deals. (AIMultiple)
- 35% of users want more companies to start using chatbots to provide great customer support. (AIMultiple)
- 86% of users want an option in chatbots in which they can transfer their support to a live human agency. (AIMultiple)
- 69% of users prefer to use chatbots only for fast response. (Salesforce)
- The AI-voice assistant in mobile phones satisfies 71% of users in terms of customer service. (Forbes)
- It is expected that 47% of users prefer buying products using chatbots. (HubSpot)
- It is found that in the US, 13% of adult users have used chatbots at least once to purchase a product. (Drift)
- Chatbots are used by 35% of users to get a detailed answer to their questions. (Drift)
- Around 22% of users said that they trust chatbots for product purchase recommendations. (AIMultiple)
- By engaging with chatbots, 80% of users said that it is a positive customer experience. (AIMultiple)
- As long as answers are correct, 61% of users accept chatbots. (AIMultiple)
- 27% of users don’t even know whether they took the help of chatbots or live chats for their last support. (AIMultiple)
Chatbots Challenges Statistics
- 65% of users don’t believe in chatbots. (AIMultiple)
- 30% of online buyers think that chatbots can make mistakes while shopping like placing the wrong items. (Drift)
- According to 22% of consumers, a personal touch is missing in chatbots. (AIMultiple)
- Still, it is expected that 51% of companies have not started using chatbots. (Accenture)
- 46% of customers feel that chatbots are used to keep them away from live agents. (AIMultiple)
- Only around 9% of ecommerce companies worldwide have implemented AI chatbots. (Statista)
- In research, it is found that it takes 10 hours for a company to respond to messages. (Oracle)
- 43% of users want chatbots to improve their accuracy, like understanding what the users are trying to ask. (AIMultiple)
- 27% of customers feel difficulties in differentiating transactions via chatbot or a human. (Financesonline)
- User adoption hesitancy is the top reason that stops 64% of businesses from implementing chatbots. (Accenture)
- 23% of users still believe to have a face-to-face interaction for complex problems. (Verloop)
Related: Data Security Tips For Businesses
Industry-Specific Chatbot Marketing Stats
- In the finance industry, by 2022, chatbots will reach a 90% success rate in customer interaction. (AIMultiple)
- Bank saves $0.60 on every chatbot interaction. (AIMultiple)
- To reserve a hotel or restaurant, 33% of customers make use of chatbots. (Drift)
- When comparing booking options or travel plans, 37% of users prefer intelligent chatbots. (AIMultiple)
- 87% of users would like to use chatbots only if it can save them time and money. (Humley)
- AI chatbot is more preferred than live chats by 34% of retail customers in customer service. (Statista)
- It is expected that by 2023, retail chatbots will acquire over 70% of chatbot conversations. (AIMultiple)
- 22% of online stores sell clothing as top products by using chatbots assistance. (AIMultiple)
- During the interview, 58% of candidates are comfortable with chatbot interaction. (AIMultiple)
Related: How Website Usability Affects Business Growth
Conclusion
Chatbot marketing stats are crucial for every business. Sooner or later, your business will need to implement a chatbot to assist the customers. Chatbots are growing in popularity and the time is ripe to get your business a chatbot. Remember, human assistants are vital but for speedy response, chatbots are an excellent choice. Moreover, they reduce the burden on your customer support team. Leverage these chatbot marketing stats to power your marketing goals.
