You might have heard about many peoples making money with chatbot these days. And you might be wondering if you can make money with chatbot too?
If you are hunting for such an amazing opportunity in the chatbot industry. Then I will share the 7 different Chatbot business models that you can consider to make money with a chatbot.
And these methods are so easy to learn that anybody with fundamentals knowledge of computer and internet can get started in a couple of days or a week. No programming and no technical knowledge are required.
Yes, it is possible. There are several success stories on the internet that peoples are monetizing chatbots to make a good amount of money.
These chatbot monetization methods that are discussed in this post are not any kind of hacks. And you cannot accomplish everything overnight. These are skilled-based services that needed a little amount of learning, and practice before you jump to offer your chatbot services.
Throughout this post, consider reading all the 7 different ways to make money with chatbots or how to monetize chatbots in different ways. And out of 7 different ways, your job is to pick one method that you think is suitable for you.
So, this will be the sole purpose of this post instead of accomplishing more tasks at a time. At the end of the blog, you’ll get to know how to proceed further.
In this post, I won’t be telling you about how to build a chatbot. So, don’t look for it. Rather, focus on finding what is the best approach you think you can consider to make money with bots. And once you decide the approach, then move on to the next which is “How to build a chatbot?“
Before You Learn How To Make Money With Chatbot?
First thing first, building a chatbot won’t require any kind of programming language and specific technical knowledge. It’s easy enough to build chatbots and sell chatbot.
So, please, for now, don’t worry about – How To Build Chatbot In The First Place?
In case, if you don’t know what exactly chatbot is?
A chatbot is artificial intelligence (AI) software that can simulate a conversation (or a chat) with a user in natural language through messaging applications, websites, mobile apps, or through the telephone.
A messenger bot is a piece of software that uses artificial intelligence (AI) to communicate with customers. Simply put, these bots understand what is being asked and can then formulate a response in a very human way.By Forbes
And this is how I explain,
Chatbots are like Alexa or Siri, which communicate with the end-user on the chat messenger platform.SimplifiedBlogs
This kind of marketing is done through initiating conversation with the audiences and customers, which allows to gather more deep interest and data.
So, a chatbot can be used by businesses and companies to handle, connect, engage, and nurture large audiences and existing customers without giving the sake of efforts, time, and heavy investment.
You might be thinking if companies and businesses are using it for their purpose of marketing, then how do I suppose to make money with Chatbot?
As you know, there are requirements for chatbots in businesses. Because it helps businesses in tracking as well as engaging their customers. And a lot of businesses aren’t aware of such technology.
And here, you have an opportunity to make money with chatbot through chatbot monetization or start your chatbot agency later to sell chatbot services.
So, the first method is-
1. Build and Sell Chatbot Services : Make Money With Chatbot 2021
In the overview section, I have mentioned that businesses and companies require a conversational kind of marketing, to nurture and engage their customers and audiences.
And most businesses aren’t aware of such technologies or how to implement chatbots in the marketing process. Here, you can use the opportunity to build chatbots for such companies.
But the big question is “How to find such companies and businesses that need your chatbots?“.
Well, this topic cannot be discussed here for the sake of purpose. But I will surely bring a detailed blog post right after this post. And I will reveal my methods of how I find and approach the clients. You must not miss this part.
Step By Step Method On How To Build And Sell Chatbots :
- Pick the industry you most understand and profitable at the same time.
- Search for the companies and businesses and create an excel sheet with detailed information about each business/companies you think they might get interested in setting up chatbots
- Build your demo chatbot
- Prepare your pitch and practice a lot
- Start contacting them (not employees)
- Offer them the services
- Execute and drive result
There are some challenges to you’ll be facing –
- Learning to build chatbots
- Marketing with a chatbot
- Finding the Right Industry and Right Client
- Communication And Negotiation
- Sell Chatbot, honestly, they won’t care about
- Talk about technology
- Talk about technical jargon-word Features
- Sell services to track incoming visitors to the website or products pages
- Must prepare and practice your pitch
- Talk about how your offered service can help them track the incoming visitors to their site
- Sell automated conversational marketing
- Sell automated live chat integration for 24/7 hrs active customer support
This is the most simple and basic method which anyone can use to make money with chatbot. All you need a little preparation and practice.
Learn and play around with the technology in the market. Once you understand and have some experience you can also move to build your chatbot agency.
2. Use Chatbots To Generate Leads For Clients
I highly recommend considering this method even if you are a beginner. Because most companies won’t care about your chatbots you are selling.
They might be highly interested if you talk about – how you can generate more sales and leads using chatbots?
In marketing, lead generation is an initiation of consumer interest or inquiry into the products or services of a business. A lead refers to contact with a potential customer, also known as a “prospect”.
Many businesses like real estate, insurance companies starve for leads, they constantly take several steps to improve their processes and systems to generate more and more leads for the business.
If you could help such businesses and companies generate more leads then they won’t hesitate to pay you off. If you know how to generate leads through any means then you can approach them.
There are many ways to generate leads, one can use paid ads, content marketing, email marketing, etc. You can use that too. But we will be focusing on chatbot and how to generate leads from chatbot?
Chatbot, if used and implemented in a smart and right way, then it will really help any businesses to track incoming visitors, their behavior as well as interest.
In case you, if don’t understand, wondering How?
When visitors land on the website, then the chatbot integrated with the website can initiate a conversation with the visitors. And during the conversation, you can collect visitor’s purpose for coming to the website, what they are looking for (interest), as well as you can collect contact detail like name and email.
The Conversation between the business and consumers is one of the most efficient marketing tactics to convert into leads but at the same time required a lot of effort, manpower, and cost.
But with the advancement in technologies, a chatbot can easily be developed and integrated with many systems like websites, landing pages, messenger…and businesses, and companies can use it.
But fortunately, there is a nice opportunity that you can reach out to them and offer your lead generation services through setting up conversational marketing into their existing marketing.
- Skills needed to build a chatbot (Easy)
- Copywriting Skills (Choose word and sentences smartly)
- Initiation of conversation is quite difficult….offers and discount works well to initiate a conversation
- Finding the right industry and client
- Explanatory skills
- Sell Chatbot
- Use the word ”Chatbot” enough
- Complicate things
- Pick random industries to work with
- Sell directly
- Sell Lead Generation Services
- Prepare a pitch and practice how to explain in simple and clear word
- Use Word “Automated Conversational Marketing” More
- Simplify the processes
- Pick a specific industry where leads matters like real estate, travel industry, software industry, a skincare company,
- Pull out customer or prospect’s interest as well as contact detail like name and email or phone.
- If possible, do it free, and get them leads at the beginning
3. Sell Chatbots Service To Real-Estate Agency
Let’s be specific. Being specific to one industry really works well.
Because you can devote your complete learning towards one particular industry which gives you enrich knowledge about the industry, which you can use to offer your chatbot services at much higher prices.
But first, I suggest you pick one industry what’s fits best for you. And how you can identify that the industry you understand the most.
And this works pretty well while choosing one over another.
Real estate is a great industry to find leads for and profitable at the moment. If you can learn and understand the real estate business…then I highly suggest checking out if you can find real estate clients.
Step By Step Method :
Learning And Practice :-
- Learn about the industry and businesses – how real estate business works and operate
- Go through the real estate agent work process
- Understand the workflow of selling, buying, and renting process assets
- Find out and have a brief knowledge – how they generate leads what are the methods & processes to generate leads very common to them
Build A Demo Chatbot :-
- Build a better and simpler demo chatbot
Create A Landing Page (Optional but effective):-
And apart from building just a landing page, you will receive 6 different features integrated with the platform which you can use to enhance and attract more visitors to make the purchase.
- Landing Page
- Personalization and Customization
- Page Speed
100s of Ready To Use Built-In InstaPage Template & Fully Customizable
Check Out InstaPage here
Create A Facebook Page
- Create Facebook Page
- And fill with useful information about your work and process
Prepare And Practice Pitch
- Prepare your pitch (Sales Pitch)
- Practice your pitch before you approach any client
Decide Your Pricing Structure
- Fix your pricing structure
- You can categorize your pricing table as a basic, standard, business. And mention on your landing or Facebook page.
- Be flexible in the beginning
How To Find Clients & Projects ?
There are several method to find real estate and other clients and I cannot discuss here.
- If you’re a beginner, I suggest you find local clients. Prepare a list of local real estate agencies and approach them.
- You may use directory websites like Yelp or Yellowpages...to find the real estate agency or agent
- You can also find a real estate agency or agent on Facebook
- Facebook Paid Ad is cheap and can be worth generating inquiry
There are several industry like Finance & Banking, Insurance, Health Care, travel, etc.
If you’re very much interested in Chatbots to make money out of it. You can do the same with other industries. Just follow the step and or define your own, it’s not hard
Considerable Industries For Lead Generation With Chatbots :
- Finance & Banking
- Real Estate
- Service-Based Business
4. Chatbots For E-Commerce
Honestly, I have never used Chatbots for the e-commerce industry. According to my research, I did earlier, using a chatbot for generating direct sales is difficult until and unless the e-commerce companies are well known.
Trust comes into play for audiences or subscriber while purchasing over chatbot.
And I’m not clearly not saying, it won’t work at all. But it is little difficult or better if I say, strategical.
Booking appointments or generating leads through a chatbot is apparently easy because you won’t be asking people to make a direct purchase. Rather, you let users interact, and if users are interested further they can make requests for more detail to gain more confidence to take action in a more human-oriented way.
My Personal Suggestion About Making Money With Chatbot In E-Commerce Industry
Recently, I noticed a lot of peoples are using the chatbot to make money with a chatbot in the e-commerce industry.
That basically means I am wrong. Not totally. Hope so…But yes, there is an indirect approach you can use a chatbot in the e-commerce industry.
Let me tell you how?
First thing first, you need to be a little smart and totally creative here. And you won’t be trying to make your users purchase what they see. Rather you make your user interact and ask them to check out more information about the products on visiting websites. Deals, offer, and discounts, well work here.
- Be Creative
- Build strong strategies
- Update the inventory frequently
- Don’t Mess It Up
- Don’t Provide Huge Information
- Use Offer, Deal & Discount
Do you think making money with chatbots in the e-commerce industry is a great idea? If yes, then please let me know how in the comment below. I would love to interact with you.
- Direct selling through a chatbot is difficult rather you can excite peoples to visit the product page.
- Finding suitable clients is a difficult task
- Sell products using Chatbots
- Too broad categories
- Uploading heavy inventory
- Bring user to the website where you sell those products
- Fewer category
- Light inventory
- Navigation is easy
- Excite your users with offers, deals, coupons, and discount
- Regular update
- Short sentences
- Delight your subscriber
- Engage and Nurture Your users
5. Chatbot Monetization With Affiliate Marketing
I hope you have little knowledge about Affiliate Marketing?
In Case you don’t know –
Affiliate marketing is the process of earning a commission by promoting other people’s (or company’s) products. You find a product you like, promote it to others, and earn a piece of the profit for each sale that you make.
Pre-Requisite To Make Money With Chatbots With Affiliate Marketing :
This method is only for peoples who are affiliate marketers or highly interested in affiliate marketing. If you consider this method to make money with chatbot, then it’s obvious that you own a blog, where you share content on any particular niches.
So, the perquisite to consider this method, where you can use chatbot to leverage you strategies of affiliate marketing are –
- Pre-knowledge of Affiliate Marketing
- Knowledge Of SEO
- Having a website
- Owns an existing blog with regular minimum incoming visitors
Step By Step Approach Using Chatbot With Affiliate Marketing :
If you are new to this and have no idea what is affiliate marketing is? And you don’t own a website or a blog. Then I suggest you leave this section.
I am considering here you’ve have the eligibility :
Find Products Or Services That You Want To Promote
- Consider recurring commission-based products or services
- Promote useful and valuable products that peoples actually want to buy
- The commission rate should not be very low
- You must have knowledge about the products you are promoting
- Consider products/services under your niches
Build Facebook Messenger Chatbot :
- At this step, you’ll consider building chatbots for your affiliate marketing.
- Use ManyChat: Facebook Messenger chatbot builder platform
- Integrate Facebook Messenger Chatbot with your website
- Add Conversation tone, short sentences, Call to action
- Initiation of conversation should be intriguing and Provoking
I suggest using the ManyChat Chatbot builder platform because the platform is simple to use and the interface is very beginner-friendly as compared to others.
Manychat is a free platform. But premium gives you access to some really awesome features.
Create Quality Content :
- I suggest building a specific page for the products/services you are promoting
- Each specific products page must look like a converting landing page
- Create blogs around the niches and products/services you are promoting
- Cover products review type post, share benefits, advantages, and disadvantages, Compare with other similar products
- Create a blended form of content like image, banners, post, infographics, video
- Improve the SEO of the content pages, target keyword, and try to rank your posts around such keywords
- Promote your landing page with products/services on the social platform
- Quora is a great platform to gain attention
- Youtube is my best advice, create a video about the products and bring people to your website
- Join Forums and community
Promote And Rank Your Contents :
- Start optimizing your contents and blog post around particular keywords
- Improve SEO: Link building, Speeding Up the website load speed, On-page will work better
- Improve Off-Page SEO
- Quora is a great QnA-type platform to gain attention – Help people answer their questions and try to solve the problem, share valuable but incomplete content and ask to visit the web page, where you optimize to convince them to consider purchasing.
- Medium is a high authority site, it’s comparatively easy to rank if you find difficulty in the ranking. Create content around the niches and share on medium platform
- Youtube is my best advice, create video content, and share on youtube.
- Join forums, groups, pages, and community.
If you are already a blogger or content creator, this using chatbot can enhance or leverage your strategy if implemented in the right way. Try once.
At the moment I don’t have practical knowledge of using Chatbot for affiliate marketing. And I think this way, it might work.
Do you think this using chatbot with affiliate marketing is worth? Or Is there any other strategies work better than this one.
I’ll be happy to gossip around these topics, you initiate the conversation, I’ll do the follow up and rest will join us.
Check Out This Video By Nico Moreno On How To Make Money With Chatbot
I did some research and found this video on YouTube video. This might help you.
6. Use Chatbots for Conversions Landing Pages
Using chatbot with landing page is a good strategy. But the question what is the purpose of using landing page with chatbot?
Let’s find out how you can use Chatbot for conversion landing page to make money with Chatbot?
Conversion Landing Page is a standalone web page, created specifically for a marketing or advertising campaign.
Conversion Landing Page is a standalone web page, created specifically for a marketing or advertising campaign.
Unlike other web pages, which typically have many goals. Conversion Landing Page is built for the purpose of single goal-oriented, which focuses on mainly sales.
So, how you can make money with chatbot with conversion landing page?
First, you might have noticed some thing like this 👇
You might have encountered similar to this conversion landing page. So, here you have two approaches to make money with chatbots.
How Chatbot Works With Conversion Landing Page?
When the user visits the conversion landing page, you can make a chatbot that automatically pops up on the side-screen and make conversation with the incoming visitors and trying to help what they ask for and what they are looking for.
And through conversation, you can make your chatbot ask visitors for their contact detail and interest which you can can save it.
That is basically very helpful as this is a kind of high-converting leads, which businesses and individuals use to convert through contacting or re-target marketing.
Provide Chatbot Services To Clients
If you are willing to work for clients. Then this option is considerable.
There are a lot of businesses and individuals involved in funnel marketing which includes a conversion landing page for their products or services, in order to generate mass sales.
They promote their conversion landing page in the market through several paid and unpaid methods. But the majority of them face the problem in tracking incoming users, where the user visits the conversion landing page and leaves without any interaction like purchasing or enrolling.
You may consider this as an opportunity to develop simple skills and make money with chatbot.
And I did some research and noticed that almost no conversion landing page uses such kind of automation tools. And I believe the majority of the peoples won’t aware of automated chatbots technologies.
Affiliate Marketing With Landing Page
This method best suits you when you don’t willing to work for others. But for sure there are some challenges I’m going to talk about.
In this method, you will be building your own conversion landing page to promote affiliate products/services, to earn commission out of it.
The more you sale, the more you earn commission.
Build your Chatbot for the conversion landing page. Your chatbot on the landing page will be going to engage visitors through conversation and helps you grab their contact detail as well how much they are interested in the products, which you’ll be using to convert them.
And remember, the user must visit the affiliate products or services page by clicking on your affiliate link id. And you cannot use any kind of personal messenger platform to share the link. Most of the companies do not accept and you won’t get a commission for that. Use the channels they have suggested to share or promote affiliate products, like through websites, blogs, forums, social media, Email…
Picking a good affiliate products/services is a challenging task. And I can’t help you out.
All I can suggest few things –
- Consider Picking Recurring-Income Based Affiliate Products/Services
- Consider Picking Branded or Great Reviews Affiliate Products
- Do Not Compromise With The Products Quality & Features
- Affiliate Products With Higher Commission Rate
This is a completely independent method to make money with chatbots and more difficult than the above one. Because there are a lot of things you need to consider before.
The main challenging task will be promoting the conversion landing page and reaching out the targeted customers.
Building a conversion landing page, finding the right affiliate products/services. What comes the essential part is promotion.
Promoting is a difficult, time-consuming, effortful tasks. There are tone of methods – Paid and Free, which you can use to promote your product/services page.
How To Promote Stuffs ?
- Try to sell every time. Not every platform you are promoting is directly meant to convince peoples to buy.
- Spam people.
- Share a direct affiliate link
- Share affiliate link through messenger platform
- Use platforms, to share knowledge, awareness, discount, offers, deals
- Stay active on your social media platform
- Keep searching and learning about the other promotional methods
- Share reviews
- Compare with other products/services
- Talk about the pros/cons
- Use Medium platform
- Share testimonial of that particular products
- Must use a chatbot to make conversation with the incoming visitors to the landing page.
Conversion Landing Page With A Chatbots For Your Own Products/Services
This approach to making money with chatbots is similar to the above one. Instead of promoting your other products/services, you will promote your own products or services. The strategies are similar.
Use InstaPage to build your conversion landing page, develop your bots and integrate with the conversion landing page and promote.
Have your own products/services to sell?
7. Mixed Strategies
Mixing different methods to make money with chatbots is a great idea. And probably, this step is not for a beginner in case you don’t have any prior experience with chatbot development, marketing, lead generation.
If you are absolutely new to this, I highly suggest checking out the other above method to make money with chatbots. And gain some experience with the work processes and technologies.
Here, you’ll be working as an individual who provide services to the clients. And then scaling to agency type business.
You can mix up several approaches to build your small agency. But you have to be a little smarter and experienced.
Scaling Up Individual-Based Services To Build Chatbot Agency
At the initial stage, you wouldn’t have known identity in the market.
Your services are considered as individual-based services. You personally have to find clients and approach them. You cannot expect any or more incoming clients until you have a good reputation or word of mouth.
Being an individual based service, there is some limitation when it comes to charges and generating client.
And at this stage, you are going to scale up to build your own agency.
And building an agency is not an easy task.
There are a lot of things you need to need to consider. And now, you’ll be expecting incoming clients by themselves, where you’ll be charging a good charge rate for your services.
So forth, you’ll be figuring out next ,
How To Start Chatbot Agency And What Do You Need?
There are several nuts and bolts to be built and fixed before you can start your own agency. And before you jump into the market, there is some homework that is to be ready.
And as per the context of this post, I cannot discuss it here. Probably, in the upcoming blogs. Let me know in the comment section if you are interested and consider subscribing.
For a rough idea, this basically includes having a good business website, your content strategies, services, pricing, etc. And don’t forget to promote your agency to be well presented on the internet.
As you can see, there are some methods one can make money with chatbots. Many people are already into it and making a lot of money. You can find many success stories on the internet that inspire to kick start.
And it’s not some kind of hack. It’s a kind of service-based business.
You are here, helping businesses and companies with the skills you have acquired. And as long as you or your services are profitable for them, the majority of businesses will not compromise with it.
And one thing I to put into you head.
Chatbots Do Not At All Matter For Businesses.
The only thing matter is – Sales and Leads. And as long as you are helping them generate more sales and leads. You’re In.
- Try this method if you are a beginner
- Mix several methods with no experience
- Start building your an agency with no experience
- consider it doing alone
- Consider individual method if you are a beginner with chatbots
- Experience how to handle and work with chatbots
- Once you gain the experience, consider building your small agency
- Look for partners and grow your network
- Build your simple business plan and model
- Use strategies
- Difficult to handle all the process
- Need a strong strategies
- Building agency requires website and other promotional efforts like SEO and link building
Conclusion And The Your Next Step
I really do not know whether you are seriously looking to make money with chatbot or not. I tried my best to convince you and put some information on the table based on my knowledge.
I’m sure there might be other several methods available to make money with chatbot. If you find one, go ahead. And please let us know in the comment section below. Let others learn about the other method too.
We would love to mention your name and profile, in case if you suggest any other methods to make money with chatbot.
You can learn about chatbot development through hands-on building your chatbot. So, you can totally stop worrying about learning chatbot development.
And start worrying about which industry you understand and want to work with the most.
- Pick the industry that best fits you.
- Learn about the industry.
- How it works, operate, demand, pricing, and margin rate, market?
- Go through an in-depth tutorial.
Everything is on internet. You can learn and master the skills without spending a buck. But determination and consistency, what it takes?
And remember, if something isn’t working out for you. That simply means you are doing something wrong. And you need to figure out this.
Next Step :
No coding and programming language need to learn to build chatbot.
You also don’t require to be highly technical to get started.
All you need to have little patience and eager to learn and master the skills, which only takes a week to few weeks.
You can also learn from the internet, as there are tone of resources you can find to learn. But it will be difficult to follow up through and learn the skills. Lots of things are missing.
If you are interested want to get started, you can join me, where I will teach step-by-step about Chatbot development and Chatbot marketing. Along with that, you’ll also learn how to build chatbot agency and find profitable clients and projects.
Seat is limited. Fill the form to get in touch with me. Use code- BOTWEB07
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