How Do Chatbots On Facebook Help The Financial Industries?

Banks and other financial institutions typically have big customer bases. It might be difficult to provide individualised, effective advice to prospects and clients at scale. That’s why banking chatbots on Facebook Messenger have become so popular. Chatbots can help banks and finance companies improve and customise the user experience at every stage, saving time and money in the process.

Why are bots a good fit for banking and finance companies?

Conversational banking is the latest business craze. It simplifies and expedites the understanding of complex or time-consuming financial issues and procedures for prospects and customers. Furthermore, it enables users to perform certain routine procedures without the assistance of a human agent. Not only will clients obtain quicker service, but human support employees will save time as well.

Additionally, when using Messenger for conversational banking, the chat history is saved. This means that users can always examine material given with them before, and that human agents can later view a user’s earlier discussions with the bot for context.

Chatbots are also less expensive to develop and deploy than a full-fledged banking programme. Because chatbots are available on Facebook Messenger, they don’t necessitate a team of engineers or months of development time. Some digital marketing agency chatbots requires no coding skills, and you can create your first bot in an afternoon. Plus, with 1.3 billion Messenger users, it’s safe to assume that a big chunk of any company’s customer base is already familiar with the platform.

What a chatbot can do for a financial services company

A finance or banking chatbot’s capabilities are practically limitless.

• Automated, individualised customer support, available 24 x 7

Customers no longer need to visit a branch, wait on hold, or wait for business hours for basic enquiries and tasks. Chatbots can give the same degree of helpful, personalised customer care on demand at any time.

• Information and advice

A Messenger bot is an excellent way to provide information about a company’s services, goods, or locations. It may publish blog pieces with money-saving suggestions or financial planning guidance, provide information on a new credit card, or let users to find their local branch or ATM.

• Generating and qualifying leads

There are a number of efficient ways to get new people to join your bot. You may integrate a chatbot window on your website, attach your bot to a Facebook ad, or even set up a function to collect bot users from comments on one of your Facebook page posts. (With Entry Points, you can perform all of the above!) Your bot can then ask users qualifying questions after they’ve arrived. You could, for example, create a Facebook ad about your bank’s business startup business loan services and then ask individuals who click through questions about the size and type of business they own. If they meet the criteria, your bot can save their information for later contact by a member of your staff, or they can schedule an in-person meeting.

• Audience segmentation:

You can tell your bot to apply particular tags to users depending on their activities or responses, which are referred to as user characteristics. As a result, your chatbot can function as a mini-CRM, allowing you to learn more about your audience and do future retargeting. For example, you could identify all users who left comments on a post about your new credit card, and then send them a subsequent offer relevant to that topic.

• Gathering customer feedback

Bots make collecting feedback from your consumers a breeze. Customers are typically unmotivated to respond to a static email survey regarding a bank. An engaging quiz delivered in a real-time, conversational manner via chatbot, on the other hand, will see substantially greater completion rates.

• Support for several locations

Banks and finance organisations with multiple locations do not need to deploy different bots for each location. You can apply elements and modifications to some or all of your bots at once using various chatbots on Facebook functionality. You won’t have to update each one separately, but you can keep some information (such as the address, phone number, and services) unique to each location. For more info, visit Umbrella Local!