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Know Chatbot Development Cost, Benefits and Types of Chatbot

  • As many as 50% of customers across verticals take it for granted that businesses are open 24*7? That’s because a majority of businesses today have automated chats through chatbots.

    Chatbots are very helpful to manage simple queries to cloud-based learning boats, which are specifically designed to understand the user's intentions.

    Chatbots have been entering into business Functioning right from increasing user engagement to potential customers for lead Conversion process. Chatbots are as popular as Millennials or baby Boomers in Software Development Services, they can Improvise the user base of Technology too far

    Here’s a list of industries that have most benefited from chatbots -

    •       Travel industry
    •       Finance industry
    •       Healthcare industry
    •       Real Estate industry
    •       Education industry


    Top Benefits of Chatbots for a business

    Less operational costs

    Customer handling over phone calls is expensive and time-consuming. Chatbots cut these operational costs by almost 50%.

    Less personnel costs

    Most businesses hire support staff in order to handle challenges faced by customers. One employee can handle one customer at a time but chatbots can handle multiple customers at a time, this saves cost.

    Better customer support

    Chatbots are AI robots that sound like human beings and can chat with multiple people at a time. This leads to better customer support.

    Better business efficiency

    Chatbots free up the staff to get themselves engaged in more productive and creative tasks. This leads to better business strategy and implementation while tasks such as sales and marketing are automated.  Take for instance a lead generation chatbot developed by Chapter 247 for a UK-based business that helped other companies generate quality leads.

    Chatbot analytics help in better business

    Chatbots come with analytics of consumer behavior, profiling, insights etc that enable businesses to make informed decisions.

    Types of chatbots

    Chatbot offers a solution with basic platforms that help you build smart interactive solutions for your Enterprise. Chatbots can be divided into two broad categories. Following are the two main types:

    Supersets Chatbots

    1] Bots within apps: Installed within a mobile application helping customers navigate smoothly through different features.

    2] Bots within messenger: Used by apps like Linked-in and Facebook messengers to guide customers and answer their queries.

    Subsets Chatbots

     1] Conversational chatbots:  Used on existing social messengers.

    2] Transactional chatbots: To assist customers in making a purchase within the app.

    3] FAQ chatbots: Answer customer queries in human language.

    4] Predictive chatbots: Evolve as chat progresses. They are the most advanced.

    Standard features needed in chatbot development

    In the process development of chatbots, there are varieties of components chatbot development companies use to add the best customer experience which a business platform can offer.

    -          Backend setup

    -          Channels

    -          NLP services

    -          Development of conversational intelligence

    -          Integration into the application

    How much does chatbot development cost?

    The chatbot development can cost anywhere between $25,000 and $30,000. This cost will include the design, development and integration part of the entire chatbot development framework. 

    What about chatbot development tools?

    Chatbot development tools cost less than developing them from scratch. Following are some popular chatbot tools -

    •       Chatfuel
    •       Botsify
    •       Dialog Flow
    •       Botpress
    •       Mobile Monkey

    These tools have the advantages of rapid development, adaptability and flexibility and cost much less. A business may opt for these tools for launching a specific product into the market. However, it’s imperative that businesses will need to get into chatbot development for deeper and better results from this AI technology.

    The best way to start is to first determine the purposes and goals for a chatbot and then the type of chatbot needed. Today the investment in chatbots has become an essential part of business development due to some amazing results.

    Chapter247 has first-hand experience of creating intuitive and productive chatbots for businesses across the world. Its team of developers understands chatbots' efficiency and has delighted many companies with their agile software development

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