What do chatbots mean for marketing?

Given their potential to respond to queries any time, chatbots are already driving improvements in customer service – this is well established in processes we are electing to undertake, such as managing our homes and finances.

The question is, to what extent will the technology be used to promote products directly? Given that they can be programmed to track purchasing patterns and monitor consumer data, chatbots could certainly increase sales in communications by upselling and introducing new products to customers.

They even have potential to generate organic reach, by presenting an engaging introduction to brands with fun fictional characters such as Poncho the Weather Cat in the US.

The key to success will be finding the balance between man and machine in communications - this is particularly significant in financial services, with critics arguing that automated advice tools will lack intuition and emotional understanding when making decisions.

In the long run there must be an interplay between human understanding of cultural context and the efficiency of technology - across all business, the value of chatbots will lie in their supportive role to real online representatives.