With his industry experience, WotNot CEO and Founder Mitul Makadia has rapidly developed WotNot a specialized chatbot service using Artificial Intelligence, Natural Language Processing and Machine Learning. Mr. Makadia shared his experiences with Parul Manchanda…
WotNot, a startup founded in 2018, is a chatbot framework that allows businesses to seamlessly create and deploy bots for their use cases. Being a custom chatbot framework, it can create bots that are tightly coupled with existing systems so that businesses can automate most of the things and leverage the most from the bot.
Tell us about your company and its vision?
WotNot is a custom chatbot platform, which has been created with the aim to help companies get more leads and assist their customers better while saving thousands in customer care.
With the era of digitization, more and more people now live online. Most of the potential customers are likely to discover businesses online than physically. This has led to more people interacting with businesses solely via digital space. This is where chatbots fit right in. They make businesses accessible round the clock without having to hire a separate team for customer support.
Wotnot’s vision is to expand its reach on Chatbots by leveraging Artificial Intelligence and Machine Learning, as evidently, it is going to be the future going forward in customer service, business process efficiency, and automation.
What inspired you to create a start-up? How has the company grown over the years?
It was quite interesting actually. We had one of our long-term clients come to us with a chatbot project, which we executed beautifully and had a lot of fun working on. Along the course of our research, we came to know that given the industry-agnostic nature of chatbots and AI, they will be the flag-bearers of tech revolution in the coming years. So, WotNot was founded to provide intelligent chatbots to businesses across all industries.
Over the course of just a year, we have worked with over 20 clients from different verticals and have helped them generate more leads, act as their Tier 1 customer support team, and at the same time improve operational efficiency in their businesses.How has been the journey so far?
We have a come a long way, in a considerably short time. Sheer hard work and determination of the WotNot team has brought us where we are. The early learnings have been the best part of the journey and we constantly keep asking for user feedback for all the changes or new features that we keep adding in. We are currently bootstrapped and are looking to grow our client base. We are working relentlessly to improve the functionalities and add new features to our platform.
What are your future investment plans and tie-ups?
We are planning to expand our global reach by opening our first offshore office in the US. This will help us better interact with our prospects to walk them through our product offerings and cement trust between both parties. Also, we are in the process of overhauling our current user experience to make it more intuitive and easy to use.
This year we plan to double our spend and rope in more AI engineers and data scientists to make the most from the data that we currently have and constantly improve our platform. We already have a few business partners working hand in hand to increase the user base of our platform and we look forward to adding more partners as we go ahead.
What are your future investment plans (India and Abroad) and any tie-ups plans?
We are planning to invest heavily in Artificial Intelligence and Chatbot space by banking on skilled people familiar with the technology. We are planning to open our next office in the US which will help us expand our physical presence. This will help us better interact with our prospects and to walk them through our product offerings and cement trust between both parties. Also, we are in the process of overhauling our current user experience to make it more appealing and easy to understand.
We constantly keep publishing content on various publications which has managed to garner quite a lot of eyeballs, leads and attribute revenue. We will keep expanding our content marketing strategy by scaling the current effort we put in by working with more people around the globe.
What are your sales plan/ target market (India and abroad)?
On the sales front, we are planning to achieve the target of 100 subscribers of WotNot within this year. Apart from that, we are also planning to partner with various clients to sell our services. We are already in talks with some partners who are keen on re-selling chatbots to their clients, which goes on to prove that people are realizing the benefits of being available to their customers round the clock.
Right now, we are planning to focus on Real Estate, Healthcare, Hospitality and Consumer Goods industry by building our domain knowledge and approaching companies with a prototype ready for them to test and deploy.
What do you think about Prime Minister Narendra Modi’s ‘Make in India’ initiative? How are you contributing to it?
‘Make In India’ initiative by PM Narendra Modi has really boosted entrepreneurship in the country. Since the inception of our company, we have created jobs in the IT market and have had some exceptionally talented people join our team.
In line with the government’s recent initiative ‘Skill India’, we hire and train freshers to help them not only sustain, but thrive in the current job market. When it comes to doing business, we take pride in representing the immense talent our country holds to the international clients that we serve.
How would you differentiate your organization from the other organizations operating in the same sector?
We believe in working with clients as a partner, not a vendor and our hand-holding approach further solidifies our execution for the clients. We are capable of developing cutting-edge solutions because of the strong technical background our teams possess, thereby helping us overcome challenges with ease.
Our USP lies in making sure that value is generated for our customers with our engagement from day 1 by walking the extra mile and always developing solutions that are robust, beneficial and scalable while also being cost effective for our clients.
What growth potential do you see in the field you have entered?
Currently, the chatbot space is still emerging as not many are aware of its all-round benefits. But gradually, businesses are realizing its advantages, as customers today expect better, personalized and approachable brands. We are starting to see the rise of DIY/self-service culture across the board – no one likes calling tech support or call centers and having to deal with “IVR hell”. Today, more than ever, businesses are realizing that they will lose out to competition if they don’t level up using chatbots.
It is safe to say that chatbots will definitely be the future of business marketing and branding, and we will see more companies embracing chatbots to improve their experience. WhatsApp is also planning to open its gates to chatbots which will change the game and popularize bots through and through.
What are your expectations from India as a business market?
Having worked on bots and AI projects with some big names like Kalpataru Realtors, Lodha Group, Kolte Patil Developers, Hi-Care, Hinduja Hospitals, Max Healthcare, Restolex, SRL Diagnostics, Symphony Air Coolers and more, we see that chatbots and AI are being increasingly embraced by the Indian market space.
India is on the path of becoming a leading business market for chatbots as businesses are realizing the importance of improving and maintaining customer satisfaction to stay on top and keep flourishing.
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