how much estimate cost to develop chatbot

Determining the Chatbot Application Development Cost in 2021

The Chatbot technology is one of the revolutionizing technologies of this era that has disrupted the way businesses communicate with their customers.

Statistics reveal that the businesses that are witnessing the highest demand for chatbot-based solutions are eCommerce businesses, healthcare, financial consulting, insurance, IT, travel and hospitality and telecommunication.

Chatbots have become a necessity in today’s age for mobile apps. If your business app does not have a chatbot, possibly you are lacking so much in respect to customer retention, satisfaction & growth.

According to Gartner’s Report, 85% of customer interactions will be managed using bots and virtual assistants for communication without a direct human involvement.

As chatbots continue to evolve and transform themselves based on how they are leveraged, businesses should focus on offering a superior experience to its mobile app users.

In this article, we are discussing why chatbots are revolutionizing the mobile app industry. We will further talk about the chatbot types, their functionalities, and estimate the chatbot development cost considering the use of modern platforms and technologies in 2021.

WHY CHATBOTS ARE NECESSARY FOR BUSINESS

why chatbot is important for business

Superb User Experience: AI-based chatbots are very efficient in resolving basic customer queries and offer seamless experience in guiding customers through various sections of the mobile app. This not only saves users time but they will be prompted to explore further and shop.

Cost-Effective: Chatbots are considered cost-effective as they eliminate any additional prices hiring more people for customer support. 

Helpful in App Marketing Strategies: Chatbots are very efficient in offering businesses with consumer data. Identifying these demographics can help businesses in creating the most robust and successful marketing strategies, that would further help the business to grow.

Cut Down Labor Expense- Chatbots can handle & interact with multiple people at the same time. McKinsey report estimated that around 29% of customer service positions in the US can get automated via a properly designed chatbot. This cut down the expense of hiring more customer support staff during the time when the call volume increases. 

24*7 Availability- The modern-day customers expect businesses to be available 24*7 to answer their queries even at odd hours. This is certainly not possible with human customer support. With Chatbots, you can make your business function on a 24X7 mode. This helps you earn customer loyalty to a great extent.

Greater Revenue- Most businesses are using Chatbots for lead conversion and greater sales. Through chatbots, you can keep notifying your customers of the discounts and other ongoing sales opportunities to earn great revenue at any point of time.

Type of Chatbots To Invest In

Following are some business oriented chatbots that you can invest in-

Bots Implemented in Own App – These chatbots found a place in the mobile app and perform a specific function like automating the interaction between the app and the user.

Bots which Function Within Messenger – These chatbots stay in messengers & support bot & customer interaction. These work best for businesses that use social media as their business model.

FAQ chatbot – A basic QnA or FAQ Bot provides its users with automated responses to frequently asked questions in a natural, intuitive question-and-answer conversational way. 

Conversational chatbot –The chatbot type understands your conversation style & answer in the same way with the end users. They collect the basic information about the users and keep them engaged till a human customer care executive takes over.

Transactional chatbot – These are the chatbots that help the app users to inquire about a product or service on the app or buy something without connecting to a human customer care representative.

Predictive Chatbot – These chatbots are the most advanced ones and are developed and designed incorporating heavy machine learning in them. Businesses use predictive chatbots to analyze users’ reactions.

AI-enabled chatbot– This is considered the most ‘intelligent’ chatbot as it is based on deep learning technology. This type of chatbot understands your customer needs well and offers up to the mark solution gaining your customer’s trust over your business.

Chatbot Features to Be Included- Simple & Advanced

Chatbot development platforms deliver only basic functionalities. If you’re looking for a customizable bot, you may have to consider various features. These features rely on your business needs, so before contacting to chatbot development companies, tell them your exact requirements.

Below, we have listed few basic as well as advanced features one must seek to incorporate into their business app:

Conversation (Basic)

Conversation mode is the primary need of every chatbot no matter of its type. This functionality is obligatory for all types of chatbot whether it’s a simple FAQ chatbot or an advanced AI-powered chatbot.

Payment System

This feature most suits e-commerce chatbots and helps businesses to boost sales and create new distribution channels. Payment gateways should be integrated considering various serious concerns like-

  • Encryption of transactions
  • Location and performance of servers
  • Secure processing of credit card data with PCI DSS 
  • On-premise vs. cloud architecture
  • Gathering and analyzing data about payments

Geolocation

Online mapping is another useful feature for a chatbot that attracts new customers based on the location of your business.  Google Maps Platform is the most used geolocation platform that allows you to create this feature with almost zero effort. 

AI Implementation

An Artificial Intelligence based chatbot development involves machine learning algorithms. They allow chatbots to learn itself, without human presence. For any query received, the bot searches for similar queries in its database and accordingly generates a matching response.

Natural Language Processing

AI’s other branch-Natural language processing acts as a bridge between users and computers. NLP is responsible for the top-notch communication experience between your chatbot and users. This feature can be seen in voice assistants like Siri, Cortana, and Google Assistant.

Technology Stack Needed to Build a Chatbot

discussion for technology stack to develop chatbot
Talking about the technologies, the following front end and back end development frameworks are worth considering:

FRONT END (WEBSITE AND MOBILE APPS)

HTML 5, iOS & Android, Angular JS, Flutter, css3, React JS

BACKEND (WEBSITE AND MOBILE APPS)

Node.js, PHP, .NET core, MySQL, postgress, mongodb

How Much Does A Chatbot Application Development Cost?

Now that we have seen all –the business benefits of chatbots, an understanding of chatbot types to invest in, and the components, features & development tools that are required to build the most scalable chatbot solution for your business, it is now time to look at how much it is going to cost you.

Considering all the discussed factors into developing a scalable business chatbot solution, the approximate cost that comes for development of your bot is anywhere between $20,000 to $80,000.

The cost range includes the overall design, development, and integration part of the chatbot app development process.

Create a Business Chatbot from Scratch with Top Chatbot Development Company

Build AI-Driven Chatbot solutions for wider business domains that can handle multiple tasks across sectors like customer services, online booking services, healthcare assistance, travel reminder etc.

QSS Technosoft is a CMMI level 3 certified Chatbot development company offering wide benefits of messaging solutions that businesses can leverage.

Founded in 2010, QSS has a dedicated team who can seamlessly integrate chatbots into any business across different industry verticals to bring real-time changes.

We offer comprehensive chatbot app development solutions from IVR bots, text bots to messaging bots, and online chatbots for Facebook, Twitter, and more. Our developers are available to hire on flexible engagement models at affordable prices.  

Chatbot Services Offered by QSS

  • Conversation Design with natural language interfaces & conventional UI components.
  • Chatbot Architecture
  • Chatbot integration to wide array of business domains
  • Configuration of Natural language processing
  • Speedy Deployment on cloud or on-premise
  • Seamless Integration with messaging apps like Facebook Messenger, Kik, Slack, Telegram etc
  • Chatbot support and maintenance services

Want to know more about chatbots or hire us for a project? Request a personalized quote for the cost of developing your chatbot application now!

About Author:
Author Rashmi Kanti is a passionate content writer & a blogger having written numerous blogs for IT domain. Being into the Blogging world for the past 4 years, she is presently contributing technology loaded articles & blogs regularly to QSS Technosoft. Rashmi has a proficient knowledge of the latest market trends in the mobile & web applications and expresses herself a big technology geek.

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