To get the most out of your chatbot, you need to dive into chatbot analytics. Implementing conversational AI can be a great asset to your business. But to maximize your chatbot’s potential, you need to measure its performance.
Of course, you already understand the importance of tracking key metrics for success. But we know it’s easy to be overwhelmed by the volume of data available. So what are the important metrics to measure?
In this post, we’ll cover the most important chatbot analytics for your business and how you can use them.
What is chatbot analytics?
Chatbot analytics is conversational data generated by your chatbot’s interactions. Every time your chatbot connects with a customer, it collects information. These data points can include conversation length, user satisfaction, number of users, conversation flow, and more.
Why use chatbot analytics?
As with social media metrics, analytics show you how your chatbot is performing. This chatbot data can help you improve your business strategy in several ways:
Better understand your customers’ needs
Your chatbot is your first point of contact for customer inquiries. This means that every conversation has a wealth of data about their wants and needs. A chatbot uses natural language processing in real time to communicate with your customers.
Analyzing this data will help you understand what they are looking for and how you can help them find it.
Improve the customer experience
Chatbot analytics can provide data on customer satisfaction. This is a simple measure of their experience with your chatbot. You can use it to improve your chatbot strategy and improve service quality. And in the long run, you’ll make your customers happy to come back to your business in the future.
Help your human team members work more efficiently
Every question your chatbot answers is a task shortfall for your human team. Customers and businesses exchange over a billion messages a month on Facebook Messenger! Save time in customer service by letting your chatbot kick in.
Do your customers frequently forward chatbot questions to human agents? This shows that there is room for improvement. Analytics will show you which frequently asked questions your chatbot can learn to answer.
Enhance your product knowledge
Chatbots are the first point of contact for customer inquiries. This gives you a ton of data on what customers find confusing. Do you see too many sizing questions? Time to refine your sizing information. Are your active users asking for product features? You may want to embed a demo video on your product page.
Increase sales
Chatbot analytics can tell you how many conversations are over with a purchase. If it takes them too long to get the response they need, or if they get tired of the chatbot, they may jump. Identifying areas for improvement will help you increase sales along with customer satisfaction.
Top 9 chatbot metrics to watch
1. Average conversation length
This metric shows how many messages your chatbot and customer are sending back and forth.
The ideal conversation length will vary: simple queries may be easier to solve. Complex questions can take more back and forth. But the average conversation length will tell you how good your chatbot is at answering their questions.
You’ll also want to take a look at interaction rateindicates how many messages were exchanged. A high engagement rate indicates that your chatbot is capable of having a conversation.
2. Total number of conversations
This shows how many times a customer has opened the chatbot widget. This metric shows how much demand there is for your chatbot. It can also help you identify when and where your customers initiate requests.
If you notice a pattern with higher demand, this information can also help you plan. Do customers start talking more soon after a new product is launched? Or on the first day of the sale? Anticipating these demands will help you provide seamless customer service.
3. Total number of interactive conversations
“Interactive conversations” refers to interactions that continue after the welcome message. Comparing this metric to the total number of conversations will show you whether your customers find the chatbot useful.
image from Heyday
4. Total number of unique users
This metric tells you how many people interact with your chatbot. A single customer can have several conversations with your chatbot during their journey. Comparing this metric to the total number of conversations will show you how many customers have spoken to your chatbot more than once.
5. Missed messages
This metric will tell you how often your chatbot has been baffled by a customer question. When your chatbot says “Sorry, I don’t understand”, that’s a missed message. These often result in a person taking over (more on that below). They can also lead to disappointed customers!
Missed messages provide important data on where you can improve your chatbot’s speaking skills. As a result, you can use this information to provide a better customer experience.
6. Human takeover rate
When your chatbot can’t resolve a customer query, it forwards the request to a human. This metric gives you an idea of how much time your chatbot saves. Some conversation-based artificial intelligence (AI) users report that up to 80% of customer questions are solved by chatbots! It will also show what kind of customer needs require the human touch.
7. Target completion rate
This ratio shows how often your chatbot helps you meet your business goals. Results will depend on your specific goals.
For example, does your chatbot support customers in the checkout process? Want them to add recommended products to their cart? Goal completion rate gives you an idea of how often your chatbot meets that goal.
image from Heyday
This ratio also shows how well your chatbot guides customers through their journey. It’s like a performance review for your most dedicated virtual employee.
8. Customer satisfaction scores
After you finish a chat, you can ask your customers to rate their experience with your chatbot. These satisfaction scores can be simple star ratings or go into deeper detail. Whatever your approach, satisfaction scores are important for improving your chatbot strategy. Looking at the issues or issues that customers have given lower ratings will show you what you can improve.
9. Average response time
Your chatbot provides the first point of contact for customers, helping your support team respond to live queries faster. This will help you increase customer satisfaction by reducing your average response time. One company used Heyday to reduce the average response time from 10 hours to 3.5 hours! Also, the information collected by your chatbot can help your live support team give your customers the best possible response.
What should I look for in a chatbot analytics dashboard?
To get the most out of your chatbot analytics, you need a dashboard that helps you see the most important metrics to track at a glance. Here are the key features to look for:
easy to use
What good is data if you can’t find it? Your dashboard screen should be simple and intuitive to navigate so you can find the information you need. Here is an example of a chatbot analytics dashboard from Heyday.
Heyday turns chatbot metrics into an easy-to-use dashboard.
Book a free Heyday demo now!
customize
Your business needs are unique and so is your chatbot analytics. Look for a tool that lets you customize the screen so you can see the data that matters most to your business.
multi seat
Is a single entry shared? What is this, Netflix? Look for a tool that accommodates every member of your customer support team for seamless coordination. Do you have a big team? Don’t worry, some chatbot platforms like Heyday offer unlimited agent seats with enterprise plans.
Team performance tracking
Your chatbot is just one part of your customer service team. A valuable tool, it also allows you to monitor your team’s performance so you can evaluate your efforts as a whole.
Target tracking
Performance data only makes sense if it helps you meet your business goals. Otherwise, it’s like kicking a soccer ball without the net – fun, but kind of pointless after all. You want a chatbot analytics dashboard that clearly shows how you’re meeting your business goals.
mobile screen
More than half of all online sales already happen on mobile devices. As social commerce grows rapidly, so does that number. Customer support is also available on mobile, so make sure your tool works on any size screen.
Customer FAQs
Looking at the most frequently asked questions is an incredible source of information about your customers. A dashboard that displays FAQs and analyzes them by content and theme gives you a better understanding of your audience.
Looking for a chatbot tool that can do all this and more? Payment heyday, a speech AI tool from Moyens I/O! While increasing your sales and customer satisfaction with Heyday, saving time and money.
Get a free Heyday demo now!
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