ADA Meets Leo: 2 Nigerian Banks Introduces Social Media Chatbots
The social media chatbots have been making waves in the business world, and Nigerians are not left behind. Two of the many banks in Nigeria have joined the social media trend; United Bank of Africa introduced Leo; a social media Chabot that will be bridging/enhancing customer services.
Leo came to live in January 2018 on the messenger app, when the company launched the first ever social media Chabot in Nigeria.
However, financial technology companies such as CowryWise and Kudi.ai offered their services using their locally constructed chatbots. In addition, the e-commerce giant Jumia launched a Chabot in 2017. Diamond bank later began their own social media Chabot, named Ada.
Functions of Ada and Leo
Having a social media chatbots such as Ada and Leo will not only change company services in Nigeria but also to the world.
Below are five vital areas where social media chatbots will be influencing the services of companies around the globe
Automated Customer Service
A fast-growing number of customers expect nothing less than real-time responses from their service providers. This is where Ada and Leo come in; they attend to unsatisfied consumers as soon as possible irrespective of the time. One of the good things about chatbots is they do not get tired, unlike human agents. Customers can now chat with Ada and Leo and have their problems solved. Because of the fast response from these chatbots, there will be a drastic decrease in bad reviews from angry customers.
Companies using social media chatbots can efficiently target clients using them and be making recommendations as well as adverts based on some services they would love them to try out. Ada and Leo just made it easy for the banks to improve their overall marketing strategies.
New Product/Service Development
Ada and Leo are not meant solely for chatting. Banks can use them for new service, for instance, United Bank of African and Ada by Diamond bank can now check customer’s account number, purchase airtime, and make transfers… just to name a few.
Easy access to data
Artificial intelligence chatbots can give tailored-services based on monitoring client’s posts on social media and data collected on consumers by these platforms themselves. In addition, the chatbots receive queries from users and help its database through machine learning. This is just a tip of the iceberg because chatbots with time will become more adaptive, providing users with accurate information and relevant content based on their preferences. Furthermore, every data collected such as client’s preferences, purchases behavior, etc. can go directly back to the organization. You or the company can create personalized offers and content for your clients when you have such data in your hands.
Improvement of customer’s experience
Any company especially companies in the shopping industry can use these chatbots to make the user experience more fun as the customers can shop and Pay using social media chatbots.
Cons of social media chatbots
Although the pros of having a social media Chabot in your company are exciting, however, there are a few challenges with the artificial intelligence.
The artificial intelligence used in social media chatbots is still in the development stage as AI is considered not quite intelligent enough for humans
The cost of building a flexible Chabot and intelligent chatbox is very high; for now, the social media chatbots are meant for the wealthy/ large companies.
It will be difficult for developing countries such as Nigerians to be acquainted or fully trust the services of Artificial intelligence, especially when it comes to financing.
Social media chatbots are breaking the odds; Facebook estimated over two billion messages had been sent between humans and chatbots on its platform. It is safe to say; more companies will be dancing to the tune of social media chatbots to improve their customers’ relations and services.