CASE STUDY: Cashbot.ai & Chatfuel turn Experience based Chatbot into a Profit Machine
In this post, we’ll tell you about one of our earliest users, Stephen and how he was able to generate 450% ROI over the past three months via his fun, helpful & seriously addictive “ErosBot”.
For the past year, we at cashbot.ai have been working hard to make chatbot monetization simple, transparent and profitable. Along the way, we’ve met hundreds of botmakers, but some certainly stand out as our favorites.
We met Stephen early in 2018 when he implemented cashbot.ai v1 product recommendations. This chatbot was designed to help you remember to tell those special people in your life that you care with daily reminders, links to blogs, links to books and other Amazon products. But more than anything, there were a lot of users — well over one million reachable users to be exact — which was great for Stephen, but not so great for the chatbot platform provider Chatfuel.
The Problem:
There wasn’t any clear path to monetization.
When Chatfuel made their pricing changes, we at cashbot.ai saw this as a challenge. Could we help Stephen & others like him make enough money to offset the charges Chatfuel had rolled out in the summer? Better yet, could we help botmakers turn a profit?
We never stopped working with Stephen. And when he decided to build a new bot, similar to the first one, he started with the Chatfuel Pro plan. He also did some simple segmentation of his users to better maximize the cashbot.ai earnings potential.
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The Solution:
This time around we asked Stephen to collect some basic attributes about his users, specifically country of residence. Within the Welcome flow, each user is asked “Which country do you live in” with some quick reply answers to make things easy for the user.
This was really important because marketers working for the brands and businesses we work with care about region & location, and gender when they’re buying campaigns form Eyelevel.ai (More on this later)
Next, Stephen created a new Cashbot.ai Ad agent, integrated his agent using the Chatfuel JSON plugin, and placed the Cashbot.ai Ads in three specific sections within the flow of his Eros Bot.
1. He made his cashbot.ai Ad agent accessible via the Persistent Menu & labeled the button “ 🎉Surprise Me 👀”
2. He made his cashbot.ai Ad agent accessible via his main menu & labeled the button “ 🎉Surprise Me 👀”
3. Finally, he placed a button within his main menu flow accessible and yes, you guessed it, he labeled it “ 🎉Surprise Me 👀”
So what’s the big deal with Surprise me? Two reasons.
1. Surprise me solves the context problem.
Users hate being advertised to. They really hate it when the ad has no bearing on their life. When it lacks context. Chatbots are 100% about context. The quickest way to lose a user forever is to return a message that’s out of context, ruining the illusion that this chatbot might actually be aware and real.
The only thing worse than a message out of context in a chatbot is an advertisement that’s out of context.
But when you label the button “ 🎉Surprise Me 👀” it’s implied there is no context. It’s a surprise and you asked for it.
2. People love surprises.
People love surprises. The surprise me button triggers an endorphin rush with every click. We’ve observed users clicking the surprise me button twenty times in a row! When you consider the user’s state of mind while chatting this makes a lot of sense. They’re passing time, a little bored, looking for a surprise. So Stephen gave it to them and was well rewarded!
Don’t believe me? Fine, go here and see for yourself.
Do you have to label it Surprise Me?
No. No, you don’t…
We have lots of partners and publishers who label that button “Meet my friends” or “Randomness” or “Cool Stuff”. The key is to make it catchy and fun and lack any sort of context with the chatbot itself.
PRO TIP: The single best placement for the surprise me button is in the persistant menu, aka the Main Menu. The persistant menu has no context, it’s always available, no matter where your user is in the chat experience, they can always get a surprise, and you can always monetize!
Results:
With just under 8,000 reachable users and just under 6,000 weekly users, Eros Bot generated $590 in cash and a MoM growth in earnings of 60%.
That’s a combined haul from the months of October and November and judging from that user growth chart we’re betting Stephen’s going to make even more this month.
Even when accounting for costs to run Eros Bot, ROI on this little bot is 450%. Not too shabby! We’re excited to see what happens in December!🙌
And while the star in this story is clearly Stephen…
It’s important to point out that the Chatfuel bot-building platform is easy to use and free to experiment with, and the returns, clearly, on investing in a chatbot can be enormous.
Just ask Stephen!!!
Next Steps:
🙏WE NEED YOUR HELP 🙏
Now we know Stephen makes a damn fine chatbot.
But so can you.
With Cashbot.ai now available to make monetization simple, lucrative and profitable, we’re asking BotMakers to once again become inspired (like Stephen) and start building chatbots with innovative use cases and sophisticated conversational design. Because now there’s MONETIZATION!!!
We can’t wait to see what happens next.
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We’re here to help and are directly invested in helping you make money in chat. Our jobs are to help you make money!!!! So let’s get to it!
Thanks! We love you all!!!
PS: Next Case Study we’ll share our top 3 most successful placements in a chatbot and tell you how some of our partners are making $5,000 a month. Stay Tuned!!!
