This week in digital, we bring to you the most talked about news across the online space. Here you go!
It’s correctly quoted that Bots will replace humans – Growing strength of chatbots
The chatbots market will grow from $703 million in 2016 to $3,172 million by 2021 (ref: MarketsandMarkets), representing a CAGR of 35.2% between 2016 and 2021. This rate of growth is highest in the history of chatbots.
The increasing need for intelligent customer engagement, the emergence of cloud-based technologies of the website and mobile applications are the highlighted factors driving this rising market size.
According to the research, Chatbot software will make the largest market share in the chatbots market.
Technologies such as NLP (Natural Language Processors), multilingual interfaces, emotion recognition and multichannel capabilities will make chatbots more applicable in a wider range of contexts. These smart bots will capture crucial insights from the consumers and help marketers make efficient strategies.
With the advent of Artificial Intelligence, this technology will get smarter and smarter and make communicating with customers easily integrable in businesses. Chatbots will see maximum growth in smartphone space. If you’re a smart marketer, you’re already thinking of having a Chatbot for your business.
Email Marketing ranks highest in ROI for the third time in a row.
Many marketers believe that Email Marketing has lost its charm & indulging in this practice is just a waste of time & effort.
The latest report by 2017 Econsultancy/Adestra Email Marketing Industry Census will come as a surprise for such marketers. Email Marketing tops the ROI charts this year as it did last year and the year before that.
With marketing automation tools raiding the market & increasing ease of personalization, email marketing has become a key mode to reach your customers.
Email marketing still steals the top position on ROI board as shown by the 73% of the company and 76% of agency respondents rating it excellent or good. The budget assigned to this mode of marketing remains at mere 15% of the total budget. This could be explained by the fact that most marketers seem to be ignoring essential metrics when it comes to evaluating their success, which makes proving the impact of email difficult. Marketers need to keep in mind the key templates and use proper analytics, which are easily available in the market today, to make the best use of emails. They need to think beyond short term goals and keep a bigger picture in mind.
Facebook improves isolation & elimination of occasional click bait from the average publisher.
The answer to “Why Facebook attracts the billions of consumers every day” lies in the efforts Facebook is making to provide its consumers a comfortable journey on the platform. Yes, you read it right. Facebook is diligently improving its news feed algorithm to recognize click baits and penalize the authors associated with.
Doing this will make the billions of timelines on platform free from junk content & help valuable publishers to reach their audience.
Facebook’s algorithm will be so smart that it will differentiate between an informative article & an exaggerated article by scanning the headlines. “We categorized hundreds of thousands of headlines as click bait or not click bait by considering if the headline exaggerates the details of a story, and separately if the headline withholds information. A team at Facebook reviewed thousands of headlines using these criteria, validating each other’s work to identify large sets of clickbait headlines,” according to a Facebook’s blog post.