5 Secret Tactics Behind Chatbots That Make Money [Explained]
Let me introduce Lenny ㅡ a candidate to your sales team. This guy has a lot to bring to the table. His CV is full of positive feedbacks from former employers delighted with his skills to:
- Collect leads that are ready to buy your product,
- Dazzle your prospects,
- Sell, cross-sale, up-sale with complete integrity,
- Never forget details when consulting.
Moreover, Lenny is a workaholic. You won’t hear a word about a day off or sales commission.
What is the secret?
Lenny is a bot that will help you make money on your site day and night.
Wanna proof? Let’s look through the impressive cases from his previous work in eCom and SaaS segments.
It doesn’t matter what you sell: music, fruit, or hi-tech marketing automation tools. The chatbot will boost its sales. In this article, you’ll find out five tactics Lenny-the-chatbot uses to help businesses make more money from the website traffic.
How a chatbot helps to make money in SaaS
SaaS products can be difficult for new users. Products interface, settings ─ there are so many things to understand during the demo period. Sometimes it can be hard or long to know how to use a tool, so people just leave.
55% of people say they’ve returned a product because they
didn’t understand how to use it. Wyzowl
Lenny helps a product team to bring new users up to speed and ease their onboarding experience. Like a guide, he welcomes new product users and assists them on the product tour.
Here is what his tactic looks like:
- Users sign-up and fill in the profile.
- In the product dashboard, they are welcomed by a chatbot assistant. It points out the key features and buttons explaining what they are for.
- After a quick tour, the bot offers to create the first task. For example, create a pop-up or share the template with teammates.
- There are three such tasks offered during onboarding, each of which gives users progress points as a part of gamification.
Thanks to the conversation with a chatbot, visitors get a basic understanding of the product concept and start using it.
This helps to reduce churn, so a company gets more paying users.
Time-saving lead qualification
Time is a valuable thing. Imagine your sales reps talking to leads that don’t need your product at all when the one who really can benefit from it is on your competitor’s site already. How to understand whom to call first? With the help of additional info like company size, role at the company, interests.
This data a chatbot can quickly get during the first contact with a visitor. Just look how Lenny does it:
- Initiates a conversation
- With the help of questions and predefined answers, reveals visitors’ pains.
- Asks for an email where to send lead magnet, offers to register, or schedule a demo.
As a result, in addition to an email in the user profile, we’ll see tag #support #sales or #marketing. It also can be company size, revenue, etc. This info will help sales reps focus on the leads that are almost ready to buy (based on buyer personas or ICP).
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How eCommerce use bots to make money on site
Consulting site visitors to provide personalized shopping
The more options we have, the harder it is to choose. Showing interest in customers’ preferences, Lenny wins visitors’ trust. This is a great base to recommend a relevant product for their individual needs.
I think there is no need to tell you about the benefits of personalization in marketing.
72% of customers only engage with marketing messages that are tailored to their interests.
SmarterHQ’s Privacy and Personalization Report
Personalized recommendations make visitors feel motivated about the product they’re purchasing. So, people are more likely to close the deal.
The three steps tactic on how to make money with chatbots approach to consumers is next:
- Lenny engages customers into a conversation with a welcome message. For example, the answer to what sunglasses will fit visitors’ faces perfectly.
- When visitors click, the chat widget bot asks clarifying questions about their facial features.
- As a result, visitors get a type of frame that fits them best, follows the link, and chooses sunglasses of that shape.
Try this tactic on your site today. You can easily create such a chatbot in Dashy Leadbot builder for free:
Here is an example of how a chatbot can help you to make money with personalized consultations.
This tactic marketers use to make money with bots in B2B also.
Setting up a chatbot for B2B businesses looking to implement new software is also an excellent chatbot solution for businesses. Asking users about specific business pain points and needs can help narrow down a software option they can benefit from.
There is one more job Lenny-the-chatbot does in terms of upselling or cross-selling purposes ー gathering data about customers for further conversations with a live sales rep. He collects all the answers to the customer preferences question in their profiles. Visiting it later, a human sales manager can see purchase history and build personalized upsell suggestions.
But it doesn’t mean a chatbot can’t use too.
How Lenny the bot makes money upselling/cross-selling via chat
For customers who have already purchased Lenny, the chatbot has a personalized offer. Based on the data about customers in company CRM, he suggests an upsell or cross-sell. Since website visitors trust the store, they are more likely to follow this advice and buy again.
It is a way to increase revenue without the recurring cost of marketing.
The three steps tactic of making money on upselling/cross-selling with chatbot:
- Personalize the welcome message with a number of visits on the site or customer’s name to draw attention.
- In terms of upselling, offer a discount as a word of thank for customer loyalty.
- In terms of cross-selling, remind about the last purchased product and offer complimentary ones. It is a good idea to support this offer with a discount.
Pro Tip: Don’t offer too many cross-sell choices and choose prices at least 60% cheaper than the product added to the cart.
When to cross-sell? If it is a new session — on the main page. If it is a session during which a customer is going to make a purchase, the best moment for cross-selling is at checkout.
Example 1. How a bot that can help you to make money via cross-sale
Imagine when in a cosmetics store, a visitor is adding to a cart a costly mascara. At the checkout, she sees the following offer:
Example 2. How to use a bot for an upsell:
The result: you get more sales with zero marketing investments.
How the chatbot makes more money with increased shopping cart
69.57% more sales you could have on average if customers buy products they added to a shopping cart.
Of course, it doesn’t mean they’re no longer interested. But time is money.
Pro Tip: You probably know that annoying sales reps who hunt down lost customer dollars. “You forgot to buy [product]” phrase isn’t motivating. Don’t repeat that with the money-making bot. The message you send should sound like an offer to help before the last step of the purchase.
To maximize shopping cart conversions, Lenny uses four reminder tactics:
- Tell customers that they can finalize their purchase at any time
I mean, people who added items to a cart but need some time to think before purchase would be glad not to collect it all again. It increases customers’ loyalty and chances to buy.
- Remind about products in customers’ cart
When visitors return to your site, it is an excellent move to refresh their minds with a notification about items in a cart.
- Use FOMO
For example, a message about the limited number of products on-site will make them think twice before leaving the cart.
- Play on our emotions
Forget about puppy eyes. If you want to make people feel sorry about abandoning the cart, use phrases or images that match your brand style.
So, how can a chatbot help your sales team to make more money?
- Improve onboarding
- Provide lead qualification
- Help customers to choose a product that fist their needs best of all
- Cross-sell, Upsell
- Decrease the number of abandoned carts
Now you know, making money with a bot is really easy. Are you ready to hire Lenny?
Just see how easy it is to create a chatbot.