High costs associated with building chatbots

Nick Martin, Co-Founder of Direqt, delves into the future of marketing and chatbots. Chatbots are becoming increasingly popular, but deciding whether to build one for your business can be tricky. Ultimately, chatbot development and deployment shouldn’t be pursued solely on the merit of being an early adopter. Instead, chatbot development should help the business expand its customer base, increase engagement, and sell more products. Today, Nick discusses the benefits and drawbacks associated with building chatbots.

About the speaker

Nick Martin

Direqt

Nick is Co-Founder of Direqt

Part 1 High costs associated with building chatbots
Part 2Chat engine optimization is becoming the new SEO for advertising

Show Notes

02:11

The purpose and value of building chatbots

Building a chatbot enables businesses to strategically align with emerging technology trends and stay ahead. However, most businesses build chatbots to increase customer acquisition, deepen customer engagement, improve customer service, and sell more products.
03:26

The current landscape of chatbot technology and AI integration

Some chatbot platforms are slowly integrating LLMs and generative AI while others are going 100% with no controls. The industry is likely to combine the benefits of LLMs with thoughtful product design to deliver intentional conversations tailored to user needs and business objectives.
06:33

Data management and quality control in chatbot development

Direqt powers branded chatbots for media companies and content creators, restricting conversations to the data of the publisher. The key is to create a chatbot that's unique to your business and leverages your unique voice, data, content, and perspectives.
09:20

Leveraging publisher data in chatbot development and experiences

Well-organized publisher data forms the foundation for effective chatbot experiences. Publishers are uniquely positioned to capitalize on the demand for reliable content, fostering a symbiotic relationship with consumers seeking trustworthy information through conversational interfaces.
11:58

Chatbot development and monetization for publishers

Direqt offers a streamlined process for building, growing, and monetizing chatbots. They facilitate collaboration for fine-tuning, provide seamless distribution across various messaging channels, and offer monetization solutions such as inserting relevant ads.

Quotes

"Trying to build a jack-of-all-trades chatbot to compete with Bard, etc, is a losing battle. Instead, create a chatbot that's unique to your business and leverages your unique voice, data, content, and perspectives." - Nick Martin
"You can create an account on Direqt and have your own conversational AI experience in a matter of minutes, rather than six to 12 months of development internally if you were to try to build it on top of APIs yourself." - Nick Martin
"There's 5.3 billion users of messaging. For publishers, there's an opportunity to not only increase engagement on their websites with a chatbot, but they can tap into those 5.3 billion people that weren't reachable before." - Nick Martin
"There are almost 15 messaging channels that matter with over 100 million active users. We streamline all those integrations instead of writing a bunch of bespoke code to make those supported." - Nick Martin
"If you have data, you should make it available and you should take advantage of it in the right ways. And that should be something that grounds your chat experience." - Nick Martin