A live chatbot on your website is no longer a nice-to-have marketing tactic for your business, it’s a must-have! In fact, over 40% of customers will expect a live chat feature on your website.
Chatbots offer a wide range of functionalities, from automatically answering customer inquiries and guiding users through your site, to conducting surveys, upselling and cross-selling, generating leads, and more. With such versatile capabilities benefiting both businesses and customers, it's no surprise that the global chatbot market is projected to exceed $994 million by the end of 2024. However, it's important to note that some chatbot applications are more effective than others.
To achieve live chat success for your business, it's crucial to understand the risk versus reward of different chatbot types. Fortunately, current chatbot statistics can provide valuable insights!
- Growth:
- 92% increase in websites/apps using chatbots.
- Global chatbot market to reach $994 million by 2024.
- Customer Benefits:
- 68% enjoy speedy chatbot replies.
- 33% find live chat "very effective."
- 90% of consumers think businesses should use chatbots.
- Business Benefits:
- 67% increase in sales for businesses using chatbots.
- 57% significant ROI with minimal investment.
- Up to 70% chatbot conversion rates in some industries.
- 12% increase in total conversions with live chat.
- Over 50% generate more high-quality leads.
- Saved businesses 2.5 billion hours of work in 2023.
- Effectiveness:
- 70% more customer interaction with engaging chatbots.
- 36% use chatbots for lead generation.
- 64% believe chatbots provide customized support.
- 75-90% of customer queries handled by chatbots.
- 3 in 4 companies satisfied with chatbot results.
- Upselling chatbots most common (20%).
- 39% of all chats involve a chatbot.
- 25% of all businesses to use chatbots as primary support by 2027.
- $300,000 average annual savings for businesses using chatbots.
- Customer Usage:
- 96% of consumers know what chatbots are.
- 35% use chatbots for resolving issues/getting answers.
- 40% no preference for chatbot vs. human, as long as support is received.
- Only 1% of customer interactions with chatbots rated negatively.
- Over ⅔ prefer chatbots over humans when wait time exceeds 15 minutes.
- 90% of customer questions answered in 10 messages or fewer.
- 2.8 times more likely to convert when chatting with a chatbot.
- Most problems resolved in 42 seconds.
- 42% prefer live chat when contacting a business.
- Other Stats:
- Average chatbot conversation length: 5-6 messages.
- 1.4 billion people use messaging apps and are open to chatbot interactions.
- 40% of millennials engage with chatbots daily.
- 7-25% revenue boost for ecommerce stores using Facebook Messenger and abandoned cart chatbots.
- 58% of chatbot users are B2B businesses.
- Real estate leads in chatbot implementation (28%).
| Chatbot Category | Description/Features | Typical Price Range (USD) | Key Considerations |
| Entry Level Information Chatbot | Simple FAQs, lead magnets, static info; basic keyword triggers; template-based; limited customization. | Free - $500 | Simplicity, ease of use, basic features, limited scalability, branding (if free), integration capabilities. |
| Customer Support Chatbot (Back-end Integrations) | Integrations with CRM, ticketing, knowledge base; dynamic responses; basic personalization; handles common support queries. | $1,000 - $3,000 | Depth of integration, complexity of support queries handled, scalability, reporting/analytics features. |
| Appointment/Sales Chatbot (Integrations) | Appointment scheduling, product recommendations, lead qualification; integration with calendars, payment gateways, sales CRM. | $5,000 - $15,000 | Conversion focus, complexity of sales flows, personalization level, integration with sales tools, ROI tracking. |
| Customer Support Voice Assistant (Integrations) | Voice-based customer support; speech recognition (ASR), text-to-speech (TTS); integrations with support systems. | $3,000 - $6,000 | Accuracy of voice recognition, natural voice quality, error handling in voice interactions, integration depth. |
| Inbound/Outbound Voice Assistant (Integrations) | Proactive outreach capabilities; campaign management; compliance features; advanced NLU/NLG for natural voice. | $5,000 - $10,000 | Compliance requirements (TCPA etc.), ethical considerations, campaign management, quality of outbound voice, user consent management. |
| Process Automation Solutions | Automate internal processes (onboarding, accounting, etc.); integration with ERP, internal systems; workflow automation. | $1,000 - $20,000 | Complexity of processes automated, depth of system integration, customization needs, security, scalability for internal use. |
| Full Stack Developments | Highly customized, enterprise-grade; custom AI models; deep integrations across systems; advanced analytics; bespoke features. | $20,000 - $1M+ | Highly specific needs, enterprise scale, deep integrations, custom AI development, long-term maintenance, scalability, security, strategic importance. |