Interaction with customers is essential for most businesses, especially online ones. Automating at least a part of this interaction using chatbots can be a great solution — if done right, of course.
There is no question that chatbots are taking over most on-site interactions. For example, 69% of consumers prefer to use chatbots on account of the speed at which they can communicate with a brand.
However, simply setting up chatbots is not enough to ensure customer satisfaction. There is an absolute need for constant monitoring and work on perfecting chatbots to ensure that the goals of the company are met. This is where chatbot analytics can be your best ally since they can help measure the performance relative to a predefined objective.
Still, the question is what should you be focusing on when it comes to chatbot analytics?
So why are chatbot metrics so important?
We need to keep in mind that your company’s work, when it comes to developing a chatbot, doesn’t end once your bot goes live. The latest data shows that 88% of companies now prioritize customer experience in their contact centers. Clearly, chatbots are as important when it comes to customer satisfaction.
For most, however, it boils down to ROIs, 57% of businesses agree that chatbots deliver large returns on investment for minimal effort. By measuring KPIs such as total leads generated, total issues resolved or cost per issue visa chatbot analytics businesses can compare their performance with other channels.
Now that we know a bit more about why we need chatbot analytics, let’s find out which metrics and KPIs are most deserving of your attention.
Chatbot user metrics that need to be on your radar
As we have mentioned customer experience needs to be one of your main goals and tracking chatbot user metrics can help you get there. KPIs, on the other hand, will enable you to monitor and if needed improve the response time, conversion rate, and efficiency enhancement.
Here are the essential chatbot user metrics you need to keep an eye on:
· Total user interactions - these are a direct reflection of the impact the chatbot is having and the quantity of the data it is exposed to.
· Active users - this is a good way of measuring the actual success and overall popularity of the chatbot.
· Engaged users - these users are the ones that actually communicate with the chatbot sending and receiving messages.
· New users - this metric captures the overall success of any newly launched chatbot campaign.
· Bounce rate - is the number of users who enter your website and leave without interacting with your chatbot. This might not be related to the effectiveness of your chatbots, but rather to the design and content of your website which you can address if you see that the bounce rate is too high for comfort.
Bot metrics are just as valuable
Bot metrics help us understand and measure the performance of our chatbots. And they are instrumental in helping us improve on customer experience. These are just some of the main ones you must keep track of:
· Goal completion rate - enable you to measure the success rate of a given action performed through your chatbot, whether it is clicking on a CTA button link or ad, completing a form, or making a purchase. For each one, you need to have clear indicators of success.
For example, understanding how to run chatbot ads can lead to new user interaction with your brand on Facebook. And monitoring the success of this interaction and of your chatbot can be crucial for ironing out any potential problems that are preventing goal completion.
· Retention Rate - unlike the bounce rate that measures the number of users who leave your website without interacting with it, this rate measures the percentage of users that return to the chatbot in some time frame. This particular metric is extremely valuable for gaining insight into customer preferences.
You certainly can’t overlook the ever-important conversion metrics
You simply need to know whether the investment in chatbots has been worth it for your company or not. This is precisely where conversion metrics and KPIs come in and here are the main ones to check:
· The need for human takeover - human takeover is something you want to avoid when creating chatbots, but it is quite necessary for customer satisfaction. If your chatbot cannot provide the desired answer often customers are transferred to human agents.
There are also customers who prefer not to interact with chatbots at all. Knowing the percentages for both of these options is necessary to determine whether you should keep on using a chatbot or revert to live chat.
· The length of the conversation - simple - you want users to get help for their issue, but it shouldn’t last so long as for them to give up entirely.
Knowing this metric can help you address this particular issue. It is essential that your chatbot be capable of maintaining a conversation and engaging your user.
When it comes to chatbot analytics the metrics and KPIs that you need to monitor depend largely on your business goals and practices. However, the bottom line is, it’s the success and effectiveness of your chatbot that counts.
Top comments (2)
Chatbots are terrible, except for some very specific use cases.
In most cases, companies just implement them as a means to save money, leaving the customer with a far inferior experience to dealing with a human. Chatbots generally are little more than a modern version of the annoying 'press # for menu' phone services
Hej, I'm so sorry to hear that you had such a bad experience..
Chatbots can be really awesome, but they're not set and forget tools.
To create a functionable bot that is actually helpful, one needs to know its audience, brand, and the goals they want to reach (i know it's a trigger but the goal cant be cutting of the budget, especially because having a bot costs as well).