Tracking Your Chatbots: Three Key Metrics
Just like with other members of your sales team, tracking the performance of your sales chatbots is essential to hitting your numbers. When performance is tracked, performance is improved. You can identify issues and make informed decisions about how to improve your bots. But with so many possible metrics to track, which ones are most important? Below, we’ve outlined three simple metrics to start with (plus an extra!).
Metric 1 – Total Conversations Held
Most chatbot platforms make it easy to track the total number of conversations hosted by your chatbots. Generally, a conversation is tracked when a visitor interacts with the bot and answers at least one question or submits one response to the chatbot. This number gives you a simple measure of how many people your chatbots are reaching.
Pro tip: Try comparing the number of conversations to the number of unique visitors on your website each week (head over to Google Analytics for a great tool to track visitor volume). What percentage of people that visit your site interact with your bot? How has it changed over time and through different versions of your bot?
Metric 2 – Total Emails Captured
Customer emails are valuable in helping you get your products to the right users. When combined with a customer name, an email / name is equivalent to a web lead. Chatbots can be a great tool for capturing more emails without much effort from your sales team. After deploying your bot, you might find it helpful to establish a baseline number of emails captured. Once you have established that baseline, consider testing various question orders and responses to see which ones lead to the most emails captured.
Metric 3 – Total Appointments Set
One of the ultimate goals of a sales bot is to book meetings for your sales team. The more meetings the chatbots can book, the more your team can focus on selling. A recent study found that an average cost to generate a B2B sales meeting with a business development team is over $1,500. As such, it is essential to track the number of appointments set through your bots. How often do your conversations result in appointments booked? How many emails to you typically collect before you get an appointment? Check out the conversion rates to get an even better picture of how your chatbots are performing.
Bonus Trick – Visualize Your Findings
So how should you display these metrics? Here at ChatFunnels, we like to display our metrics on a physical funnel, like the one below:
Figuring out how and what to track after chatbot deployment can be intimidating. Starting with a few key metrics can give you a solid base to work with while keeping it simple. When you’re ready, add to your funnel. Decide which indicators are most important to you and customize your approach to tracking. Or consider hiring a firm of experts (like us!) to manage your tracking and reporting. Ready? Let’s Chat!
Still setting up your chatbots? Check out this post on our blog for four chatbot deployment tips!