Customer Engagement via Facebook Messenger Bots

Posted by | September 11, 2017 | blog, Technology, Uncategorized | No Comments
Facebook Messenger Bot

Facebook Messenger Bot

The Mobile and the internet penetration have disrupted the consumer behavior and companies have made mobile as the prime focus of Business and Digital strategy, especially in banks and brokerages where Real-Time information is of prime importance to make quick decisions. The mobile apps are a great way to provide information and allow consumers to transact with a seamless experience, but if you look at driving consumer engagement it has to be done where the customers are, and its the Facebook messenger bot which will you do that.

Globally on an average 14% percent of time spent on mobile by a user is on Social media and only 2% spent on Financial/Banking apps. Hence companies are moving towards a better engagement model via the Facebook Messenger bot.

TD Ameritrade recently launched their messenger Chabot, the bot can answer the basic queries such as Market news, stock prices, and account related information without the consumer leaving the messenger app.


User’s Mobile Screenshot – TD Ameritrade chatbot


User’s Mobile Screenshot – TD Ameritrade chatbot

The Messenger bots have become an easy way for consumers to get their queries answered rather than waiting for long hours on consumer care calls or finding the information themselves. The Chabot uses artificial intelligence and machine learning to respond to natural language messages from users on Facebook messenger and when it’s unable to understand the query it prompts the human customer support team at the back end. The bot is not restricted only for Ameritrade customers it is accessible by other Facebook users as well; hence it can act as a very good acquisition channel.

The first generation of the chat bots have already hit the markets and according to a recent survey, more than 75% of the Financial institutions globally see Chabot’s’ as a viable commercial solution and almost half of them have active chatbot projects. Gartner predicts that by 2020 customers will manage over 85% of their relationship with the company without interacting with a human.

The bots can significantly improve the customer satisfaction levels as live chat leads to 70% more customer satisfaction levels than email and phone conversations. Furthermore, it gives an opportunity to the consumer to directly talk about his problem with the company on a one-to-one basis rather than posting it on the public forum.

Facebook Messenger Bot solution from Market Simplified

Market Simplified offers Facebook messenger bots for brokerages which can help improve consumer engagement and be a prime channel for customer acquisition as well. Below are the features that we have to offer for the Chatbot.

Facebook Messenger bot Essential Features

  • Real-time share quotes
  • Market News
  • Portfolio related Information
  • General Customer care queries
  • Research Recommendations

Facebook Messenger Bot Advanced Features

  • Quarterly Earnings report of Stocks
  • Technical Indicators such as MACD, Stochastic oscillator etc
  • Real-Time stock specific news and events.
  • Buy, Sell and Hold recommendations on current portfolio.
  • Premium calculator for options

About Market Simplified: Market Simplified is a thought leader in revolutionizing and digitizing products for financial institutions by continuously innovating and simplifying finance. We empower our customers with cutting edge digital experience that is highly personalized and enhanced for the end users with our ‘Experience Engineering’ platform driven by Analytics, AI, Machine Learning and Blockchain technologies. Our clientele includes industry leaders like OptionsXpress (Charles Schwab), Currenex (State Street), ThinkMarkets, MB Trading, Maybank Kim Eng, Kotak Mahindra Bank, National Stock Exchange of India and many others across the globe.

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