When it comes to chatbots, the key to ensuring your investment keeps paying for itself is to set and monitor the appropriate metrics for your business to ensure your solution is delivering value for you and your customers.
Sometimes, setting metrics for yourself is akin to letting a credit card customer set their own interest rates. You’ll want a solution that delivers a host of information to allow you to take a deep dive into the data and work out where things are going right and going wrong, and figure out which metrics are really important for your business.
Accurate, powerful reporting on a variety of metrics allows you to make changes to your consumer offering in real-time, tweaking chatbot responses and adding extra functionality to cope with frequently asked customer questions, for example.
These reports can help you understand where your chatbot is struggling to answer specific questions thanks to Q&A overlap, where it’s failing to answer typical questions due to missing recognition, or where gaps exist in your database that need to be addressed to deliver a rewarding customer experience.
Getting feedback in its simplest form, via customer feedback post-interaction with your chatbot, for example, is a hugely valuable tool to help you improve and iterate on your chatbot’s functionality. Customers are able to deliver positive and negative feedback right after they’ve completed their interaction so you get fresh, real-time insights you can use to improve for next time. Having members of your team available to analyse this feedback is crucial to ensuring you can be as reactive as possible to customer feedback.
Equally, pre-live chat surveys are an invaluable method of discovering why many of your customers are contacting you. It could be something as simple as accessing account information; something that might be a relatively quick fix and immediately relieve pressure on your customer service agents.
The reverse of this scenario occurs when you use your customer contact data to uncover where your team is spending too much time. Are your customers constantly asking questions about billing, for example? In this instance, you might review your FAQ copy or use Gap Analysis to uncover instances where your chatbot could provide customers with the required information.
You may find that some of your channels aren’t being used by customers particularly frequently. Underperforming channels may not be the result of a lack of desire for customers to interact with them; it may be to do with your navigation. Do these channels have obvious entry points? Are you pushing customers towards these channels? Or are your other channels just much more visible to customers?
What’s most powerful about all of this insight, is the intersection between the data you’re able to collect. Using a data-driven approach to making strategic decisions, you can create a living, breathing, three-dimensional personas rather than using single sets of data to try and extrapolate conclusions.
The Benefits Of Measurement
There are a host of benefits of using reports and metrics to measure the effectiveness of your chatbot interactions.
Increasing customer satisfaction
Refining typical customer conversational flows to deliver answers to your most-asked chatbot questions improves customer experience, and with it, customer satisfaction. Conversational AI Cloud’s Feedback report allows you to find out what customers are saying and whether or not they’re getting satisfactory responses so you can take action.
Reducing Contact Costs
Gap Analysis can quickly identify areas where unanswered queries are routed to your call centre, costing your team time and money. From there, you can quickly fill in the blanks and create answers to the questions that are causing your team the most headaches.
Boosting Employee Productivity
The Project Manager Overview report in Conversational AI Cloud gives an overview of where your chatbot is delivering the most value. That means you can refocus your customer service agents on other areas, ensuring they’re delivering real value and boosting morale.
Continuing Knowledge Growth
Ensuring you’re continually refining answers and adding knowledge to your chatbot is a vital element of improving its ROI and labour-saving abilities. Gap Analysis and FAQ reports will help you improve your chatbot’s breadth of knowledge and answer relevance.
Customer Success Story: Missguided
Missguided experienced rapid growth which meant its fledgling customer service team was quickly overwhelmed with queries. Partnering with CM.com to implement a chatbot resulted in a reduction in contact and costs of 14% and allowed the team to use the data gathered to inform their decision-making. ROI tracking was key to Missguided and the team invested heavily in data analysis and the introduction of other tools, such as Google Analytics, to complement the chatbot’s operation.
Conversation AI Cloud’s Dashboards
Conversational AI Cloud includes 20 ‘out-of-the-box’ dashboards that cover every aspect of customer chatbot interaction. Users can download these dashboards or create their own – we provide raw logging via our reporting API to help you do that.
These dashboards are broken down into two specific categories:
Used for improving customer journeys via Gap Analysis, Answers, Recognition Analysis & Interaction Explorer.
To monitor project health (Monthly & Weekly report, KPI).
If you’d like to find out more about Conversational AI Cloud and how our chatbot dashboards can help prove and improve ROI, get in touch with one of our team and we’ll take you through the use cases and benefits of our all-in-one solution.