Latest key chatbot statistics for every sector: How Chatbots Help Businesses Grow and Thrive?

Content

What is a chatbot
Chatbot statistics for every sector
AI chatbot statistics for sales and marketing
Chatbots in EdTech statistics
Chatbots in SaaS statistics
Ecommerce chatbot statistics
Chatbot usage for customer service
Marketing and sales chatbot stats
Final thoughts on the chatbot market
FAQ on the chatbot industry

 

Are chatbots just a passing marketing trend, or are they here to stay? Do customers prefer interacting with chatbots or human agents? Does the technology enhance the customer experience or merely annoy website visitors? Most importantly, can chatbots actually increase your revenue?

To help answer these pressing questions and guide your decision-making, we’ve gathered comprehensive chatbot benefits statistics from TECMONY clients and market research. Explore our key findings on the latest chatbot statistics.

What is a Chatbot?

A chatbot is a software application designed to simulate human-like communication with users through chat interfaces. These programs leverage natural language processing (NLP) and artificial intelligence (AI) to understand and respond to user inputs effectively.

Chatbots serve different purposes. They can engage a potential customer in a conversation and capture their contacts, deal with simple queries or introduce your service by telling about its main features.

More and more businesses are introducing this technology into their marketing routine and customer support processes. By 2024,the global chatbot market is expected to reach by $994 million. 

Chatbot statistics for every sector

First, let’s take a look at current attitude to a chatbot platform variety, challenges, and trends in business.

🤖 88% of users had at least one conversation with a chatbot in 2023.

Chatbot technology are becoming an integral part of communication between customers and businesses. They’re always here, in the bottom right corner of your website page ― ready to handle customer requests 24/7. 

🤖58% of companies in a B2B sector actively use chatbots, compared to 42% of B2C companies.

Recent statistics indicate that automated communications have become more prevalent in the B2B sector, largely due to the success of chatbots in lead generation, which holds significant value for B2B businesses.

For customers, the primary reasons for interacting with chatbots include seeking assistance during a purchase, scheduling a meeting, or signing up for an email newsletter.

By addressing these needs, chatbots can save your business a considerable amount of time.

🤖 By 2024, chatbots are expected to save businesses up to 2.5 billion hours of work (Juniper Research).

Chatbots automate routine tasks, such as dealing with FAQs, collecting feedback, or qualifying leads. This way, they alleviate the work of support, marketing, and sales agents and save hours or billions of hours for you and your team.

🤖 59% of customers expect a chatbot to respond within 5 seconds.

And they get it. Since there is no human factor, there is no delay in a chatbot workflow.

🤖 69% of consumers were satisfied with their last interaction with a chatbot (TECMONY).

It’s an excellent result for an automated assistant. Meanwhile, 21% of respondents remained neutral, and only 10% were unsatisfied with a chatbot conversation.

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🤖 64% of consumers claim that the best feature of chatbots is their availability 24/7 (TECMONY).

This is one of the primary reasons businesses opt to implement chatbots on their websites. By setting up a welcome bot, you can address common queries and gather a potential customer’s contact information if the issue requires human intervention.

🤖 The average cost of one chatbot interaction chatbot cost calculator is $0.50-0.70 (Juniper Research).

On average, a customer support agent earns $40.7k per year and around $19.5 per hour. Considering this, hiring a chatbot is much cheaper. We marked it as one of the main chatbot benefits. 

🤖 For 48% of users, it’s more important that a bot solves their issues effectively rather than has a personality.

Obviously, functionality is the top priority. However, we also suggest investing some time in personalizing and humanizing your automated assistant. Ensure it uses natural language and aligns with your company’s tone of voice. It’s one of the best chatbot practices.

🤖 39% of all chats between businesses and consumers involve a chatbot.

Statistics indicate that businesses are increasingly striving for automation. This approach simplifies the work for your agents and accelerates issue resolution for customers.

However, chatbot statistics reveal that some challenges and hesitations still persist.👇

🤖56% of businesses claim that chatbot technology (conversational AI in particular) disrupt the work in their industry (Accenture).

🤖60% of consumers would still prefer to wait in queue for a real agent to reply than receive an instant response from a chatbot.

People still tend to trust other people more to resolve their issues effectively. Many users fear that a bot won’t understand them, and this concern is valid. However, it’s important to note that the chatbot industry is continuously improving in understanding people’s messages and even the sentiments behind them.

Nevertheless…

🤖 84% of companies believe that AI chatbots will become more important for communication between a customer and business.

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AI chatbot statistics for sales and marketing

AI chatbots have become essential tools in sales and marketing, providing businesses with powerful ways to engage customers, generate leads, and boost conversions. They offer 24/7 customer support, personalized interactions, and efficient handling of routine tasks, significantly enhancing the overall customer experience and driving business growth. 

👉 Here are the AI chatbots statistics for 2024:

🤖AI chatbots 2x reduce of the SDR workload by answering clients FAQs.

After registering a client for a meeting, we promptly tested this approach. Once clients completed the lead qualification questions, an AI chatbot engaged them to sustain the conversation and address queries about the company or product. This strategy enhances conversion rates by enabling sales managers to focus directly on addressing customer pain points during meetings.

🤖Businesses that use AI chatbots have 3x better conversion into sales than those who use website forms.

🤖Stat bot based on a generative AI can 2,5x conversion into sale.

When TECMONY clients implemented generative AI at the lead qualification step for lead scoring and answering FAQs, they saved SDR time and prioritised leads. This brought them 2,5x better sales conversion.

🤖Lead qualification in a form of a chatbot quiz gets 20% better results than static forms.

When in a lead forms clients see the long list of questions, they abandon lead qualification because it is too much. Chatbot hero collects the same data but in a form of a lovely conversation where clients see 1-2 questions on the screen — it makes them feel easier about the process.

🤖Seamless switch to AI chatbot for answering clients FAQs after automatic lead qualification increases conversion into a sale.

🤖According to our chatbot usage statistics 50% of customers like to talk with AI chatbots.

🤖1/3 of leads share their concerns about company or a product with AI chatbot if businesses add them right after lead qualification for a sales call.

AI chatbot delivers this data to managers, so they have more context before a sales call.

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Chatbots in EdTech statistics

👉 Education is one of the top 5 industries that use chatbots in their work (Chatbots Life).

Along with education (14%), the top industry customers of the chatbot market are real estate (28%), travel (16%), healthcare (10%), and finance (5%). 

👉 The usage of AI (including AI chatbots) is increasing in the EdTech sphere (Grand View Research).

In 2021, the global market of these solutions amounted to $1.82bln. By 2030, it’s expected to increase by 36% a year.

👉 Lead qualification in EdTech that includes a chatbot costs $119/mo on average.

A chatbot serves as the initial stage of lead qualification by gathering potential customer contacts, experience information, and educational goals. This data enables you to tailor the most appropriate offer for each prospective customer.

👉 All the chatbots work to collect contacts, in addition, 37% of them provide users with support. 

The majority of companies launch them on the main page to collect contacts. The second most popular place is the pricing pages, where chatbots answer FAQs on the paid plans. 

However, stats show 40% of businesses still prefer website lead forms for data collection. 18% collect primary info within a live chat. 16% of companies don’t use any tools at all.

👉 62.5% of those who have chatbots use them to qualify leads.

An automated assistant (in this case, we call it a leadbot) asks aspiring students questions about their previous experience and goals (i.e., change their career, boost their current skills, etc.). Your sales reps can use this data to pick the best offer and speed up conversion into the purchase.

👉 25% of companies also use chatbots to recommend products. 

Based on potential customer’s responses, a bot picks the best course that matches the criteria. 

With chatbot technology, your online school gets a vast field for experimenting with customer communication. Don’t know where to start?

Chatbots in SaaS statistics

🚀 58% of the companies that turn to the chatbot market are B2B, and 65.1% are SaaS businesses.

🚀 One-third of AI startup founders believe that chatbots will be the most popular customer tech in the next five years (FinanceOnline).

🚀 38.9% of companies that use chatbots are in the IT software and service sector (Chatfuel).

Also, our practice shows that chatbot usage in SaaS businesses helps increase conversion rates (i.e., to signup, service activation, or purchase) and alleviate the workload of support agents.

🚀 The conversion rate of chatbots in some industries can reach up to 70%.

E-commerce chatbot statistics

Find out the chatbot effectiveness statistics we collected from the recent studies of 2024. This part includes chatbot engagement statistics, conversion, and usage data.

⭐ Only 9% of online stores all over the world set up chatbots on their websites (Statista chatbots report).

Chatbot statistics show that eCommerce is slowly adopting the technology, just like businesses of other industries. 

⭐ Chabot transactions in eCommerce are expected to reach $112bln by 2024 (Juniper Research).

Statistics prove online stores get great value with chatbots. Automated assistants help consumers choose the most suitable products and offer additional ones. Chatbots can also resolve cart abandonment problems. The sky is the limit 🚀

⭐ Chatbots started to boost eCommerce revenue by 7-25% (Chatbots Magazine). 

Despite the fact that eCommerce businesses are slowly implementing chatbots in their work, they are already increasing their revenue. And this number includes chatbots on websites, social media, and messengers.

⭐ 34% of customers of online retail accept the usage of chatbots.

However, chatbot statistics showed that customers of online stores are quite open to new technologies such as chatbots. They help automate and speed up routine activities like checking order status or searching for products. 

This acceptance rate in online retail is higher than in other industries like finance (20%) or telecommunication (25%).

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Chatbot usage for customer service 

Regardless of the industry, an increasing number of brands are leveraging the chatbot market to improve their support and enhance customer experiences.

💬 By 2027, chatbots are predicted to become the primary channel for customer service in a quarter of all businesses (Gartner).

Chatbots reduce the Response Time significantly. They can handle simple queries without human involvement. But, if set up correctly, they easily route conversations to relevant customer service agents. 

The technology benefits both a customer and your team. The former don’t need to wait long to get a response from customer service, and the latter get rid of repetitive tasks and free up some hands for more complicated issues.

💬 62% of respondents would rather interact with a customer service chatbot than wait for an agent to respond.

As mentioned above, speed is the main advantage of the technology. Besides, bots are available for conversation 24/7. It’s the reason consumers choose to chat with an automated assistant rather than a customer support agent.

Marketing and sales chatbot stats

🤝 57% of businesses state that chatbot usage results in a big ROI with minimal investments.

Launching a chatbot is getting easier year by year. You can hire one of the chatbot platforms. There’s a whole ocean of options, and not all of them will cost you an arm and a leg, I promise. 

For example, one of our customers is an online school that launched chatbots on landing pages for lead capture. It took a vital marketing task of lead qualification. Their TECMONY AI Chatbot PEKI service paid off in just five high-quality leads and got 16,000% ROMI. 

🤝 36% of companies turn to the chatbot market to improve lead generation, and business leaders claim that, on average, chatbots can increase sales by 67% (TECMONY).

Automated assistants complement the marketing teams by taking on some routine yet essential tasks like lead generation and qualification. You can use gathered data for lead scoring, thus, more effective work with your potential customers. 

🤝 In about 20% of use cases, chatbots are used for upselling (TECMONY).

In a study carried out among 50 000 websites using chatbot service in 2021-2022 showed that chatbots could be good sales reps. You can use them to offer additional products that match the customer’s choice and increase the company’s revenue.

🤝 55% of companies that use chatbots get more high-quality leads (TECMONY).

We in TECMONY often offer a chatbot for website lead generation. And it proves to be effective! One customer of ours set up chatbots on landing pages. They qualified users and passed the hottest ones to sales. That way, sales reps could prepare the most relevant offer and convert users to purchase faster.

Final thoughts on the AI Chatbot Market

The bottom line is that chatbots are gaining widespread recognition across various industries. They are valued by both businesses and customers for easing the workload of human agents and enhancing the overall customer experience.

• Valued by both businesses and customers
• Ease the workload of human agents
• Enhance the overall customer experience
• Provide 24/7 customer support
• Reduce operational costs
• Offer instant responses to customer inquiries
• Improve lead generation and qualification
• Personalize customer interactions
• Increase efficiency in handling routine tasks
• Gather valuable customer data and insights

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FAQ on the chatbot industry

How many people are using chatbot?

According to SurveyMonkey usage statistics 50% of customers like to talk with AI chatbots.

How many ai chatbots are there?

In the realm of digital chatter, connoisseurs discern a trifecta: the steadfast rule-based bots, the astute AI bots, and the versatile application-oriented bots — a fusion of unwavering rules and sagacious systems.

Are chatbots used on social media?

Yes, brands use chatbots on websites, social media, and messengers. For example, there are over 300.000 bots currently working on Facebook Messenger.

What industry uses chatbots the most?

Stats shows chatbots are becoming more and more widespread across different industries. However, the current top five are real estate (28%), travel (16%), education (14%), healthcare (10%), and finance (5%). However, with the adoption of AI-powered chatbots, industries across various sectors are discovering the best ways to leverage new technologies. This enhances their business by improving data accuracy and customer communication.

No matter what your industry is, a chatbot can sure help you achieve your business goals too. 

Do customers actually like chatbots? How do AI-powered chatbots learn?

According to Drift’s report on conversational marketing, customers are more willing to interact with chatbots now. They facilitate the purchase process, clarify order details, and can schedule a meeting. And all these tasks are done within seconds and around the clock!

Speed and 24/7 availability are the main chatbot benefits that consumers appreciate. 

How do AI-powered chatbots learn?

AI chatbots learn through a process known as machine learning. This involves:

• Training Data: They are trained on large datasets of conversations, text, or other relevant information.
• Algorithms: Using algorithms like natural language processing (NLP) and machine learning models (such as neural networks), they analyze and learn patterns from the data.
• Feedback Loop: They improve over time through user interactions and feedback, adjusting responses based on learned patterns and real-time input.

What technologies are used in AI chatbots?

AI chatbots often use:

• Natural Language Processing (NLP): Understanding and interpreting human language.
• Machine Learning Models: Neural networks, decision trees, or other models for learning and decision-making.
• APIs and Integrations: Connecting with external databases or systems to provide more accurate and personalized responses.

How accurate are AI chatbots?

Accuracy can vary based on training data quality and the complexity of queries. Advanced AI chatbots can achieve high accuracy in specific domains but may struggle with nuanced or uncommon queries.

How are AI chatbots different from rule-based chatbots?

Rule-based chatbots follow predefined rules and scripts, whereas AI chatbots can interpret and respond to natural language, adapt based on interactions, and handle more complex queries.

Can AI chatbots understand emotions?

Some AI chatbots are equipped with sentiment analysis capabilities to gauge user emotions based on text inputs. However, understanding complex emotions is still a developing area in AI.

What are some practical applications of AI chatbots?

AI chatbots are used in customer service, healthcare (patient interaction), e-commerce (product recommendations and customer support), and various other sectors to automate responses and improve user experiences.

How can I implement AI-powered chatbot for my business?

Implementing an AI chatbot involves:

• Defining objectives and use cases.
• Selecting appropriate technology and development tools.
• Integrating with existing systems (if necessary).
• Testing and refining based on user feedback.
• You can work with an expert company specialized in AI-powered communication technologies, chatbots, and additional call center solutions. Since your communication platforms will require integration for the best customer relationship management, collaborating with such a company will ensure seamless implementation and optimal performance.

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