Ever wondered how you can make money with bots? Here’s a handy guide with 9 simple ways to use chatbots to make an income!
You’ve probably heard of chatbots.
You must have even interacted with a few in your daily life. But did you know there are ways you can make money with bots even if you aren’t a developer?
Even though 59% of business owners use a bot to provide faster and smoother customer service, that’s not all that chatbots can be used for.
I’ve spent countless hours researching the various ways you can use chatbots to bring you the nine easiest and most effective ways to generate ideas to get income using these trendy little programs.
In this post, you’ll discover how to tap into the power of automation and build trust with your audience. So, if you’re ready to start making money without breaking a sweat, let’s dive in!
If you buy something using the links in this article, I may receive a commission at no extra cost to you.
Please know that I only promote stuff that I use and trust for the sake of my readers and the reputation of this site.
What Are ChatBots?
You may have chatted with a bot while purchasing those new shoes online. Or maybe you use Siri, Alexa, or Google Assistant daily? Fun fact: All three of them are cloud-based natural language processing bots.
Cloud computing enables these bots to work with a lot of information stored in the cloud, making them highly advanced. Businesses use chatbots in many ways, and it all depends on their need for conversational AI (Artificial Intelligence).
With so much need for chatbots and so little knowledge and expertise available on the market, there are so many ways you can use the best moneymaking bots to start a chatbot business of your own!
How To Start a Chatbot Business – 9 Ways to Make Money With ChatBots
There are many reasons businesses (B2B and B2C) prefer chatbots as a tool for their work. One main reason is that customers seem to enjoy interacting with chatbots!
Here are some of the reasons customers enjoy using chatbots:
Companies know that people have a more pleasurable experience interacting with their website or service using a chatbot, which is why chatbots are so much in demand now.
The Alexa Prize challenges by Amazon are ongoing contests for university teams that foster significant advancements in Artificial Intelligence. One of these challenges is the Alexa Prize SocialBot grand challenge. The Alexa SocialBot grand challenge was designed for university students to search for developing an Alexa skill that is capable of holding an intriguing conversation with humans about current topics and news events for 20 detailed minutes—all while receiving at least 4.0/5.0 ratings!
Here are 9 ways you can make money with chatbots. Most of these ways can be implemented even if you aren’t a chatbot developer!
Let’s dive in!
1. Bots as a Service (BaaS) is a Game-Changer
Companies are going after an everyday user experience for their customers. And that’s not surprising.
Market Research Future predicts that the chatbot market will grow to approximately 6 billion USD by 2023, with a CAGR (Compound Annual Growth Rate) of 37% from 2016 to 2023.
See the potential for conversational AI?
And one of the best ways of offering customers an everyday user experience is through chatbots. Mind you, these bots need not be built from scratch – you can even integrate Facebook Messenger for customer service for a product.
Bots have come a long way with advancements in AI software. That is why B2B companies are using them more and more.
Imagine the possibilities –
- train new employees and onboard them easily using chatbots,
- interact with customers and gain feedback on a new SaaS product,
- collect information from users using chatbots,
- send potential customers down your marketing funnel depending on where they are on their customer journey
There’s no limit to what a chatbot can be designed to do! That is why more businesses offer Bot-as-a-Service or BaaS.
ManyChat is a pioneering chat marketing platform designed to drive more sales and conversions across popular messaging apps, including Instagram, WhatsApp, and Facebook Messenger. By harnessing the automation capabilities of ManyChat, businesses can effectively engage their audience around the clock.
From big brands like Nike to digital marketing experts and entrepreneurs, over 1 million businesses trust ManyChat to supercharge their lead generation, ensure timely responses, and maximize conversion rates.
The platform offers easy-to-use AI chatbot assistants and templates, allowing even those without tech experience to build and customize their chatbot interactions.
- Supports popular platforms like Instagram, WhatsApp, and Facebook Messenger.
- No tech experience is required with AI chatbot assistants and plug-and-play templates available.
- Ability to answer every message, comment, and story reply 24/7.
- Captures email addresses and phone numbers for up to 80% of leads.
- Increases conversion rates by up to 90% by ensuring leads are consistently engaged.
- Automates responses to frequently asked questions, reducing the need for manual intervention and associated costs.
Pros and Cons
- Free Plan
- Pro starts at $15/ month
- Premium at custom pricing
Tidio is a dynamic communication and chatbot platform tailored for businesses looking to supercharge their customer engagement. By integrating AI and automation, Tidio offers real-time responses 24/7, enhancing customer experience and journey.
It provides a centralized solution, amalgamating multiple communication channels like emails, live chats, Facebook messages, and Instagram DMs into a single interface.
With the potential to recommend products during optimal browsing moments and the ability to create personalized shopping experiences for repeat customers, Tidio positions itself as the ideal tool for businesses aiming to increase loyalty, conversions, and sales.
- View all emails, live chats, and messages from social media platforms in one interface.
- Automatically answer up to 70% of common customer questions, freeing time for critical issues.
- Connects seamlessly with popular e-commerce tools and platforms in under 5 minutes.
- Engages prospects based on their browsing history, potentially boosting conversion and retention rates.
- Allows businesses to see products website visitors view in real-time, facilitating timely product suggestions.
- Recognizes repeat customers to offer tailored shopping experiences.
- Offers a forever free plan alongside tiered pricing for advanced features.
Pros and Cons
- Free plan
- Starter at $29/ month
- Communicator at $25/ month
- Chatbots at $29/ month
- Personalized plan from $394/ month
These tools allow you to easily input your client’s needs, create a chatbot response diagram, and build a customized chatbot for your client.
Microsoft AtBot is one such BaaS. You can also design a bot or a money bot app using Botmake.io. Botmake.io is a no-code chatbot creation tool that will help you design a chatbot according to your requirements.
2. ChatBots For Native Advertising
Native advertising is an attractive marketing strategy deployed by companies. Native ads are naturally integrated with certain content – a blog post, a landing page, or in this case, a chatbot.
Bot makers include links to sponsored content or product pages instead of showing banner ads on a landing page. This is a great way to supplement your chatbot income and make more money online.
Here’s how this works:
Imagine you are looking for ways to make your ski trip memorable. A chatbot could help you by suggesting what places to visit on your trip and links to the equipment you can buy to enjoy your ski trip better. You could offer to create native advertising chatbots as a service to your clients.
Here’s an example of ChatBot advertising from Emirates:
Chatbot platform Eyelevel believes that advertising needs to be contextual to be effective – and what better way to do this than with chatbots?
Eye-level boasts of a huge chatbot publisher network of more than 1700 chat apps and has 45 advertisers signed up. You can even incorporate pay-per-click advertising (PPC), such as Google Ads, by embedding a chatbot on your landing pages.
3. Use a ChatBot For Affiliate Marketing
If you understand AI tools and machine learning, you’ll also understand how chatbots can be used for affiliate marketers.
Companies offer affiliate programs to users. When new affiliate marketers sign up for an affiliate program, the company gives them special affiliate links that they can place on their blog, website, or social media.
They can then sell the products or services of the company they signed up with. You make an affiliate commission when someone clicks on your affiliate link and purchases something online.
Affiliate marketing has many products available. They have various categories, excellent workmanship, BPS.com custom products, etc. You can read this post for more information on affiliate marketing and how it works: Affiliate Marketing For Dummies: 7 Steps To Help You Launch Your Affiliate Website!
Remember, you must disclose to your audience that if they click on your links and buy something, you will earn a commission at no extra cost. In fact, they may even be getting a discount if they use your affiliate links.
You can include your affiliate links within the conversation or dialogue of your chatbot. That way, your chatbot will offer resources and links that are useful to your customer based on their responses, and you will earn an income if the customer decides to buy something using your affiliate links.
Affiliate marketing is as easy as setting up a profile with high-paying affiliate programs like Amazon Associates. You can then start promoting their products immediately using the affiliate links that they give you.
4. ChatBots For Research or Conducting Surveys
Surveys can be boring for some users. With chatbots, you can make surveys engaging and conversational so that individuals do not find them monotonous or a complete waste of their time.
If you build a good chatbot to collect data using Medium, you can log user data for big businesses. For example, say your client is an event planner. You can implement a chatbot that talks to users about what events they like participating in and then sell that information to event planning companies.
The companies can then use that information to organize events in that area and gain maximum participation. Chatbots can help you conduct market research to check if a product or chatbot business ideas you have is viable.
Here’s an example of a chatbot taking a survey from a user:
This chatbot collects information from users from Facebook Messenger.
5. Use a ChatBot For Lead Generation
Chatbots are increasingly being used for improving lead generation. Suppose you offer your website visitors a chatbot on specific web pages.
In that case, they are more likely to communicate their needs with the chatbot than search for the product or information themselves. With a chatbot, you can easily collect your potential customer’s email addresses and phone numbers while offering them helpful information. Some of the commonly used chatbots are chai ai.com, character.ai and poe.ai.
Once the chatbot has captured the lead, it can pass on the information to a human employee for either processing or a callback. Chatbots certainly can’t replace humans entirely in the lead generation process. Still, they help your company generate high-quality leads in less time with less effort and resources.
This leads to higher conversion rates and more qualified traffic to your website.
Here’s an example of lead generation by a chatbot:
6. ChatBots For Retail Or eCommerce Sales
eCommerce is booming now more than ever. People order stuff online every day. A conversational experience makes the buying experience faster and more pleasurable.
Chatbot technology is an excellent way to automate customer management for your business. 67% of US millennials make purchases using a chatbot. There is thus a strong customer service demand in the market.
Chatbots can help handle queries, and customer support demands such as refunds quickly and efficiently.
Bots have thus become an integral part of the online shopping experience. A chatbot can help customers find what they are looking for faster. It can also help solve any queries they have before deciding to purchase.
Chatbots can also make product recommendations depending on the buyer’s preferences and purchase history. Using a chatbot for your online retail store can boost sales and make shopping an enjoyable experience, especially for your first-time customers.
Here’s an example of a chatbot designed for the office supplies store Staples:
Chatbots are so popular with eCommerce stores because they are a very familiar medium for customers, making the whole buying experience more straightforward and personal.
7. Make And Sell ChatBots
Okay, what if you don’t have a business to use a chatbot for?
What if your specialty is to create functional and conversational chatbots?
Make money with chatbots by selling them!
You can use tools and chatbot publishers to start a bot company. Find a platform that allows you to build amazing chatbots. You can then make chatbots for businesses and sell them to companies and make money online.
You can also build a team of chatbot makers and start a chatbot agency to scale your chatbot business.
Media companies, B2B companies, or even eCommerce sites – you can design a chatbot for any business and sell it to companies who want to use chatbots as a part of their monetization strategy but do not know how to create one on their own.
When companies use a medium like Instagram for marketing, they tend to set up Instagram stories with links to their products and offers. But it’s hard to keep track of responses for this story.
Using a chatbot platform, they can easily send customers down their marketing funnel and use it for lead generation, as I spoke about previously.
Here’s a video that shows you how you can pick an industry or niche and sell chatbots for thousands of dollars:
8. Make Money From ChatBot Sales Commissions
You can still make money after you sell a chatbot.
How? By having a chatbot affiliate program.
45% of bloggers preferred joining an affiliate program because it did not hamper the user experience.
Here’s how this works:
Like any other affiliate program, you sell your chatbot (or give it away to specific people for free) and ask them to join your affiliate program. Once they sign up, assign them a unique link to promote on their website, blog, tutorials, or social media.
When their followers buy using their link, you get a sale and pay your affiliates’ chatbot sales commissions, which would be a percentage of the sale amount.
Pretty simple, huh?
Here are some examples of successful chatbot affiliate programs:
9. Use a ChatBot For Customer Support
Customers usually abandon purchases if they do not find what they are looking for or have unresolved queries about a product. You can eliminate this problem using chatbots.
A customer service chatbot uses AI and machine learning to solve customer queries on the chat application.
Customer service chatbots send customers to relevant resources and FAQ pages on your site so that your customers can get the exact answer they are looking for with minimal effort.
You can collect user data by using chatbots. When customers answer simple questions from your chatbot, you can use that information to improve their customer experience and provide the answers they are looking for.
The best part about using chatbots for customer service is that over time, your chatbot will get “smarter” and use collected information to give better customer replies.
You can make money with a chatbot in many ways, whether through affiliate marketing or ads. The key is to truly understand this wonderful technology and figure out ways to creatively engage with customers to offer them the best user experience.
A monetization strategy considering the user experience will significantly help you begin your chatbot business.
Throughout this blog post, we’ve explored nine easy and proven ways to boost your income using these powerful automation tools. From lead generation and customer support to affiliate marketing and personalized recommendations, there’s a chatbot strategy for everyone.
Remember, building trust with your audience is key to chatbot success, so always prioritize authenticity and value in your interactions. Whether you’re an entrepreneur, marketer, or just someone looking to make extra cash, chatbots have opened up a whole new world of possibilities. 💼💻
So, go ahead and implement the tips and techniques we’ve shared here, and watch as your income skyrockets without the hassle of traditional methods. 📈💸 Embrace the power of automation and take your business to new heights!
Thanks for joining me on this exciting journey of chatbot money-making mastery! Now, go out there and conquer the digital landscape with your bot-powered success! 🌐🤖💪
What are your opinions about using chatbots for a greater user experience?
Do you use chatbots for your business? Would you like to make money with a chatbot? Leave your thoughts in the comment section below – let’s learn from each other! 🙂