Businesses are going through a digital transformation in order to thrive in a competitive market and expand continually. They are using a variety of digital tools to automate and streamline a number of crucial processes. Consequently, they obtain important advantages that accelerate their growth.
Chatbots are one such product that is very popular right now. Chatbots generate leads, personalize encounters, and answer questions at scale and around the clock.
They have a wide range of applications, which is beneficial for businesses from different industry sectors.
With these benefits, it is obvious why there is such a high demand for chatbots. And as we know from the basic tenet of capitalism, anyone can quickly generate money by satisfying strong demand.
But now the issue arises. Many firms need more time or resources to devote to bot development. What if I told you that selling chatbots does not need constructing them first?
Yes, the growing trend of chatbot reselling has made this possible.
Reselling bots is as easy as it seems; it involves people or businesses purchasing a ready-made chatbot and then offering it to their customers.
Chatbots have developed into an essential component for any company with a website as a result of the growth of conversational marketing.
Marketing firms are taking advantage of reselling bots because they are perfectly complementary to their other services, such as social media management and Facebook ads, and because they are well aware of this fact.
Continue reading this post for a detailed discussion of how you can sell chatbots to increase your revenues.
What's the difference between white labeling and chatbot reselling?
White labeling is a phrase that frequently appears when we discuss chatbot reselling. Both of these phrases are frequently used interchangeably because of their near resemblance.
There are a few notable changes, though. White labeling and reselling are contrasted in the table below.
Chatbot Reselling versus white labeling
In general, when someone is looking at chatbots to provide them as a service to their clients, chatbot reselling enters the scene.
Here, they market a pre-built chatbot platform to their clients, who then develop a solution on top of it. Each client pays a recurring commission to these chatbot resellers.
The individual vendors intend to increase their technological investment once they experience sustained success or can resell a sizable number of accounts. They intend to carry out scaled resale. When they consider branding their offerings, they become white-label chatbot resellers.
The same holds true for marketing firms that search for chatbot software that they can white label and brand with their logos.
Why go for reselling chatbots?
Why not become a chatbot reseller is the true question you should ask yourself whether you run a marketing agency or a tech business providing software to your customers.
Every marketing agency or IT firm should think about chatbot reselling because it is a low-risk, no-investment, and high-return strategy. Additionally, it aids in increasing new revenue streams and client retention. Let's examine in detail the benefits of becoming a chatbot reseller.
1. There Is a massive demand for chatbots
The demand for chatbots is being driven by the increase in demand for self-service and automation in lead generation, customer support, and customer interaction.
In response to this desire, chatbots are providing excellent results by constantly advancing to hold interactions with clients in a human-like manner. Here are some statistics to aid you in estimating this demand:
- In 2023, chatbots are anticipated to answer 75–90% of questions.
- The market for chatbots is expected to reach $994 million by 2024.
- By 2024, conversational platforms will be used by 70% of all white-collar workers daily.
These are significant figures that only point to the widespread use of chatbots. All of us have previously witnessed these changes.
Recall how everyone started getting websites in the 2000s. Then, in the 2010s, social media took off, and businesses realized how important it was to have a social presence.
In a similar vein, chatbots will overtake all other technologies in the 2020s. And a lot of businesses are already aware of this. Because of this, 79% of the best-performing companies have conversational marketing tools in place.
The timing is right to start selling white-label chatbots and provide a service that the market needs.
Today's consumers prefer direct communication over filling out forms and waiting to hear from a company.
The preferred tool for interacting with clients on digital platforms is an AI-based chatbot. They respond quickly, bluntly, and effectively. Businesses have the opportunity to offer a rich customer experience utilizing instant messaging thanks to conversational AI.
2. Invest Little Money and Get Big Returns
Every investor's ideal investment is one with low risk and high returns. Chatbot reselling is precisely that. Here, all you require is time and effort spent developing a solution on a ready-made platform.
You may demand payment for it. It becomes much simpler to scale to more clients, increasing income if you get a handle on the many solutions that sell.
3. Open Up New Streams Of Income
The services that marketing firms may provide are restricted to website construction, social media management, ad management, etc. Because of this, they cannot increase their revenues above a certain point.
Chatbot resellers now have access to a whole new source of income. Their entire service package becomes profitable by including chatbots because it provides more excellent value to their clients.
Additionally, it allows them to focus on larger clients.
4. A ready-to-use solution can help you save time and lower your risk.
It takes a lot of time and works to create a chatbot from the start. With a ready-to-use chatbot solution, you can do chatbot reselling while saving a ton of time and work.
You obtain a tried-and-true solution, which is another significant benefit. It implies that you can stop testing it. You don't need to worry about its success because you can sell it directly to your clients.
5. Utilize a quicker time to market
Chatbots and conversational marketing are still in their infancy. This indicates that time is crucial in this situation. You can quickly do chatbot reselling to your clients thanks to white-label chatbots, giving you a competitive edge.
In summary, white-label chatbots have a much shorter time to market than custom-built ones. Therefore, selling pre-built chatbots to others is very profitable.
6. Rapidly grow your customer base
Due to the nature of their industry, marketing agencies typically invest a lot of time in providing for their clients. As a result, despite spending a great deal of time, they receive little returns.
A ready-made chatbot eliminates the need for agencies to spend a lot of effort on each consumer interaction. They can service a lot of consumers quickly thanks to chatbot reselling. Agencies are able to quickly grow their clientele in this way.
How much money are you able to make?
We are TOTALLY aware that many of you are skimmers and have stopped here. And that's okay; it's clear that you're interested in learning how much money you can make from chatbot reselling. The bottom line would be what would count in the end.
A great way to make money is to try out chatbot reselling. We are putting up some numbers as chatbot enthusiasts and industry professionals to demonstrate the size of the opportunity we are referring to.
These figures are completely based on various figures out there floating in cyberspace, providing some idea to you, so take it with a grain of salt.
- To make a siable income of $25,000 selling chatbots to startups and small enterprises, you need to have nearly 100 customers.
- However, if you can offer chatbots to just 25–30 mid–size or large firms, you can still make the same amount.
- Converting an enterprise is n times more difficult than converting a small business must also be considered.
Pick a business model.
You must select a business plan before you can sell chatbots. There are several things to take into account before selecting a business model, such as:
What will you be selling? Platform or remedy
You essentially have two business models to do chatbot reselling. Let's go over each one individually.
1. Subscription that is monthly
With this business strategy, you provide your clients with monthly subscriptions, as the name implies. In order to continue utilizing your white-label chatbots, they must pay a monthly fee.
Monthly membership plans are available, including basic, premium, and enterprise. Differentiate each bundle based on its price by offering more or less sophisticated features or services.
Having more options also means attracting a wider range of clients with various financial and professional needs.
2. Hours in a Batch
You'll come across customers along the way who don't anticipate making many modifications to the chatbots regularly. For those consumers, charging a one-time price for any upcoming adjustments in addition to the subscription fee would be preferable.
You can use a "batch of hours" model to serve these clients. Essentially, this is the time and material model.
Customers would be charged for a certain number of hours here. The overall cost would therefore equal the number of hours needed to implement the modifications or changes multiplied by the hourly rates.
What Are the Steps to Start Reselling Chatbots?
You just need to get going now that you've made the decision to market chatbots. Yet how? Here, we'll walk you through the process of starting a bot resale business step by step.
Establish a landing page
Your chatbot reselling business absolutely requires a landing page. It is the location where potential customers arrive from email campaigns, advertisements, YouTube videos, and other sources.
If you are unfamiliar with the term, a landing page is a separate website designed solely to direct users to the call to action. (CTA). You can use the procedures listed below to design a successful landing page:
Compose a Strong Copy
The first step is to create an attention-grabbing headline. Your headline needs to be able to grab visitors' attention because they have an attention span of fewer than 8 seconds.
Make sure the headline is clear, attention-grabbing, and, most importantly, pertinent to what will come after it. The remaining text is also important.
Here, you need to make sure that you provide concise, insightful sentences that properly communicate your points. Do not use jargon at all.
Construct a captivating call to action
Create an attractive CTA button after the headline and the copy are organized. Make sure everything is detailed and precise.
Users need to know what to expect when they eventually click on that CTA button. Refrain from detracting from the CTA with headers, footers, or connections to other sites.
Adding Social Proof
According to a recent survey, 91% of shoppers place an equal amount of trust in internet reviews and personal recommendations. This demonstrates the effectiveness of using social proofs. You can include a lot of social proofs, such as:
Add social proof to the SEO Promotion
No matter how well you execute the phases above, your landing page will only function if you succeed here. Your landing pages are more likely to be seen by clients using search engines, thanks to SEO optimization.
When optimizing, you should pay attention to things like:
- Meta Description
Pick a platform for chatbots
An essential first step is picking a chatbot platform. You might lose your resale company if you make this choice.
In this situation, you must pick a chatbot platform with features that improve your chances of reselling the chatbot. Apart from that, there are several things to consider, such as:
Any white-label chatbot reseller will benefit from having a partner-friendly chatbot platform. The kind of chatbot that constantly has your back is the ideal mate. You should be taught how to create the chatbot and how it functions.
Additionally, they ought to be equipped to handle problems at inconvenient times. A partner-friendly platform should also have reasonable pricing that won't break the bank.
Simple to Use
Easy to use becomes important when it comes to chatbot reselling. It's because you'll utilize a platform less frequently if it's easy to use. They will be able to sell chatbots to more customers as a result. Additionally, a no-code chatbot creator makes it simple for you to train their staff.
Furthermore, you may assign jobs with ease because the platform is completely free of any coding. The chatbot platform's no-code feature allows your consumers to make tiny adjustments on their own as well simply.
Management of Accounts
Managing every client's account becomes challenging as the number of clients rises. Entering passwords to access all of your clients' accounts is the last thing you would want to do.
This makes it crucial to pick a chatbot platform that allows for simple and effective account administration.
In this case, the optimal chatbot solution provides one-click access to all of the accounts on a single interface like BotPenguin, which is free to try and gets you 60+ native integrations.
As a white-label chatbot reseller, you want to invest in a chatbot platform that develops constantly and pays attention to user feedback.
Checking whether the chatbot platform has a roadmap is the best approach to determine whether it is evolving or not. A roadmap is a thorough strategy that outlines the upgrades the platform is working on, has already finished, or has planned.
A roadmap will clearly indicate how reliable and rapidly evolving a chatbot platform is.
Here is a list of the top 6 chatbot platforms you should consider for reselling now that you know how to choose a chatbot platform.
Select the Products You Will Resell
As was already said, there are numerous applications for chatbots. Therefore, deciding which use cases you would like to provide to your clientele becomes crucial.
Here, your strategy must present use cases with the greatest market potential. This will enable you to quickly access wider markets and generate enormous revenues.
We've listed some of the most prevalent use cases for chatbot reselling below:
Chatbots for lead generation
Chatbots that assist companies in generating leads are resellable. These chatbots for lead generation qualify leads, schedule sales meetings, and ask pertinent questions.
Since individuals prefer conversations to read, businesses are more likely to use bots for lead generation than traditional lead generation tools.
By reselling your lead generation chatbots to your customers, you can profit from this demand.
Chatbots for booking appointments
Booking appointments is now more efficient than ever thanks to chatbots. Along with completely automating the process, it also gets rid of human involvement.
It handles every aspect of scheduling appointments quickly and accurately, including making, changing, and canceling them. Employees are liberated from scheduling appointments, allowing them to focus on more crucial responsibilities.
Chatbots for customer support
Without the assistance of a human person, customer care chatbots provide clients with answers and pertinent information.
They process user data for lead creation, process orders, and access knowledge bases to provide pertinent material. These chatbots are accessible at all times.
They free up time for your support staff to work on more complicated cases by answering frequently asked questions.
Without a demo, having everything set up—from a deck to a landing page to chatbot solutions—won't be effective.
Simple human psychology underlies it. No matter how much your customers read about your offerings, they will only buy from you if they can actually see how the chatbot will operate.
Thus, preparing a demo is the final stage. Ensure the demo includes all the functionalities, features, and scenarios so your clients won't have any questions.
Whether you work for a marketing firm, a SaaS startup, a tech consultant, a web development firm, or a software company, chatbot reselling is for you and must insure to use best tactics for success.
BotPenguin has experience working with several industries and can accommodate your areas of expertise. The demand for chatbots is increasing due to the growing need for two-way channels of contact with customers and businesses, and you need ways to handle them.
The fastest and most dependable approach to satisfy your customers' needs is by white labeling BotPenguin. Therefore, when deciding whether to white-label a chatbot, consider this question: “Do I want to be just a client or an owner?”