It’s wild to think that the days when AI was just some futuristic, out-of-reach idea are long gone! It feels like we’ve stepped right into the heart of a boom in AI, but really, this tech has been quietly working its way into our lives for years. Now, using AI for business is not just for the big-name companies getting in on the action—startups are totally harnessing AI to kickstart their growth, too.

From boosting efficiency to leveling up sales, serving customers better, and even slashing costs, businesses are finding all sorts of ways to let AI do its magic. It’s become so much more than just a tool—AI is now a must-have asset, pushing companies of all sizes toward success.

Curious about how AI can make a difference for you? Don’t miss out on this article. You might just find yourself at the front of the AI revolution!

How Many Businesses Are Using AI

It might seem like AI in business has only taken off in the last few years, but actually, artificial intelligence has been around in business for quite a while now. According to surveys by McKinsey & Company, back in 2017, only about 20% of companies were using AI in their operations. Fast forward to today, and a whopping 72% of businesses have integrated AI-powered tools into their daily processes.

Year by year, since the last decade, AI has been making steady progress. But have you noticed how AI has become a hot topic lately in tech and business? Seems like every other day there’s a new headline about some mind-blowing AI breakthrough, and the tech giants—Google, X, Microsoft, Meta—are all racing to see who can develop the most advanced AI out there.

Well, this surge in AI hype? You can thank generative AI for that.

Generative AI

The terms “AI” and “Generative AI” are definitely related, but they’re not quite the same thing. AI, or Artificial Intelligence, is a broad area of computer science focused on creating systems that can do tasks usually associated with human intelligence—things like problem-solving, learning, understanding language, and recognizing patterns.

Generative AI, though, is a more specific part of AI. It’s all about systems designed to create new content, whether that’s text, images, music, or even more, based on patterns they’ve learned from existing data. Some well-known examples are GPT models, DALL-E for making images, and AI systems that can compose music.

So, while all Generative AI falls under the AI umbrella, not all AI is Generative AI. It’s just one cool branch of the bigger AI tree!

How Businesses Are Using AI

More and more businesses are turning to AI as a key support system for their operations, sales, and marketing. According to a Forbes Advisor survey, “Businesses are using AI across a wide range of areas.”

The most popular AI tools companies are using right now are focused on customer service. In fact, the survey shows that 56% of businesses use AI to boost their customer service efforts. Next comes cybersecurity and fraud management, adopted by 51% of businesses, followed by digital personal assistants, which are used by 47%.

Improving The Customer Experience

Businesses are recognizing the growing significance of AI in shaping the overall customer experience. Of course, it depends on the type of business, but AI is playing an incredibly important role in customer service tools.

AI-powered chatbots, in particular, have improved a lot. Gone are the days of bots with clunky, awkward responses. Now, well-implemented AI chatbots not only handle customer inquiries in an efficient and human-like way, but they can also prequalify leads accurately and gather valuable information for sales teams.

Plus, these chatbots can integrate with CRM systems to automatically update customer data, streamlining internal processes and enhancing the overall user experience. AI-powered chatbots don’t just improve customer service—they also boost operational efficiency and help drive business growth.

According to the Forbes Advisor survey, 73% of businesses surveyed are either using or planning to use AI-powered chatbots, and 61% are using AI to optimize their email marketing campaigns.

Using AI To Boost Business Processes

The reality is becoming clear: AI is transforming the way businesses run, and more companies are jumping on board. AI adoption is rising fast, especially when it comes to improving business processes. Companies are realizing that AI can drive efficiency and spark innovation, making it a crucial part of staying competitive in today’s market.

Forbes Advisor reports that a growing number of businesses are either already using AI or planning to do so in key management areas. For instance, 53% of companies are using AI to streamline their production processes, helping them work faster and more accurately. 

Meanwhile, 51% have integrated AI to automate routine tasks, cutting down on manual work and boosting productivity. And when it comes to boosting their online presence, 52% are leveraging AI for SEO, aiming to show up higher in search results and strengthen their digital footprint.

AI is touching all kinds of business functions, from improving customer service to optimizing everyday operations. With these trends on the rise, businesses that invest in AI-powered solutions are setting themselves up to stay ahead of the curve, reaping the benefits of improved accuracy, speed, and a stronger presence in an increasingly digital world.

Positive Impact on Business and Efficiency

The future of AI in business has never looked brighter! More companies are eager to embrace AI, and it’s easy to see why. According to Forbes, most business owners believe AI will be a game-changer for their companies. 

And they’re right—AI isn’t just a cool tech trend; it’s boosting efficiency in big ways. According to HubSpot, as of 2024, AI is saving employees an average of 2.5 hours each day. That’s a huge time-saver!

It’s also saving businesses money. In fact, 28% of business leaders are already using AI to cut costs. 

Plus, some may believe that AI will reduce jobs by replacing skilled individuals in everyday tasks. However, everything points to AI being integrated into human work, not excluding it. A solid 66% of business owners and executives have already hired someone or partnered with agencies to incorporate AI into their operations or maximize their existing AI systems.

Using AI for Business: The Future is Now

In a world where AI is no longer a distant concept but a driving force in business, the future feels limitless. We’ve seen AI move from a behind-the-scenes tool to a front-and-center player in how companies operate, grow, and innovate. From streamlining processes to improving customer experiences, AI is more than just a trend—it’s shaping the business landscape in new ways.

As we look ahead, one thing is clear: businesses that embrace AI will be the ones to lead the pack. Whether it’s through generative AI creating new content or AI systems optimizing operations, the potential for growth is huge. And the best part? AI in business is just getting started. 

The future is AI—so why not be part of it? If you’re ready to integrate AI into your business and want some help, let’s talk. Book a call today!

Let’s be real, slapping a one-size-fits-all CRM onto your business and calling it a day just doesn’t cut it. What really makes a difference is tweaking those CRM deal stages to perfectly match how your team operates from the ground up.

Whether you’re a startup gearing up to shake up the market or a seasoned player fine-tuning your sales process, getting your HubSpot CRM deal stages just right can make a world of difference.

Your sales process’s deal stages are directly linked to your company’s performance. If you’re finding it tough to close deals, it might be because your sales process and deal stages aren’t in sync, or they could be creating hurdles for your leads.

Maybe you’re just starting to integrate a CRM system to boost and automate your marketing and sales efforts. Either way, setting up the right deal stages can turn struggles into success.

This isn’t just about picking stages; it’s about making your CRM feel like it was custom-built for you and your team. In this piece, we’ll explore how to fine-tune your sales strategy and shape your deal stages in HubSpot CRM.

In this article, you’ll find the best and most crucial tips and recommendations from HubSpot. Are you getting started in HubSpot? Or are you a long-time HubSpot user looking for some guidance? Either way, this article is for you!

Ready to dive into the specifics and get your CRM deal stages perfectly aligned? Let’s get started!

First of all… What are HubSpot Deal Stages?

Navigating the twists and turns of a sales pipeline can feel overwhelming without a solid game plan. That’s where HubSpot, a top player in inbound marketing and sales software, comes to the rescue with its customizable deal stages in the CRM system.

This feature doesn’t just help businesses streamline their sales processes; it also ensures they can track the journey of each deal from start to finish effectively.

HubSpot deal stages are essential components of the sales pipeline, providing a clear visual of all sales activities. Each stage represents a step in the sales journey, from the initial contact with a potential customer to the final decision. The beauty of these stages is their flexibility—they can be tailored to fit your specific sales process perfectly.

It’s not merely about tracking progress; it’s about molding the CRM to align seamlessly with your workflow. Let’s explore how these customizable deal stages can elevate your sales efficiency and success. Ready to revolutionize your sales process?

The Importance of Custom CRM Deal Stages

Why bother customizing deal stages in your CRM? Well, every business has its unique rhythm when it comes to sales. What works for one might be completely off for another.

By setting up your CRM deal stages—like HubSpot’s—to match your sales process, you’re essentially programming your system to mirror the actual steps your team takes to turn leads into customers. This not only boosts your team’s efficiency but also gives you clearer insights into your sales pipeline, helping you pinpoint where deals get stuck and why.

When your CRM aligns perfectly with your sales process, your team naturally becomes more efficient. Salespeople spend less time figuring out how to categorize their interactions and more time engaging with potential clients. Each stage of your customized deal flow can prompt the necessary actions from the team, ensuring no critical steps are overlooked.

Moreover, a customized CRM setup provides deeper insights into your sales pipeline. It becomes much easier to analyze where most prospects drop off or stall and investigate why. Is there a particular stage where deals frequently stagnate? Are there patterns suggesting a need for a change in approach or additional training for your team? These questions become straightforward to address when your CRM reflects your actual sales process.

These insights are invaluable for continuously refining your sales strategies. For example, if many prospects drop out at the proposal stage, a deeper analysis might reveal the need for more compelling proposal content or better follow-up strategies. HubSpot CRM’s analytics can highlight these trends, guiding you to make informed improvements that enhance both your sales process and customer satisfaction.

Optimizing Your Sales Pipeline

Creating a Sales Pipeline tailored to your business or product is the first step in optimizing your sales process. Before implementing and outlining the stages in HubSpot CRM, it’s essential to have a clear understanding of what those stages are in your Sales Pipeline.

Your sales process is represented in HubSpot by your deal pipeline. Therefore, it’s crucial to clearly define both your sales pipeline and your deal stages in HubSpot, as they form the backbone of your sales strategy.

Create a Sales Pipeline

The first step to optimizing your sales process is creating a Sales Pipeline tailored specifically to your business or product. Before implementing and outlining the stages in HubSpot CRM, you need a clear understanding of what those stages are in your Sales Pipeline.

In essence, your sales process will be represented in HubSpot by your deal pipeline. Therefore, it’s crucial to clearly define both your sales pipeline and your deal stages in HubSpot, as they form the backbone of your sales strategy.

To help you get started, let’s look at what a standard sales pipeline might look like. Keep in mind that every business, product, and process is unique, so feel free to customize this to best fit your needs. Let’s dive in.

Here’s a standard sales pipeline process, listed step-by-step with brief definitions for each stage. According to HubSpot,  this list represents the key stages in a sales pipeline from the seller’s perspective, guiding them through the process of turning a prospect into a satisfied customer:

1. Identify Prospect: Locate and identify potential customers who may benefit from the product or service.

2. Connect with Prospect: Initiate contact with the potential customers through various communication methods such as email, phone calls, or social media.

3. Schedule Meeting: Arrange a preliminary meeting or call to discuss the prospect’s needs and how the product can meet them.

4. Demo Product: Conduct a demonstration of the product to show its features, benefits, and how it addresses the prospect’s specific needs.

5. Follow Up: Reach out to the prospect after the demo to address any questions, provide additional information, and gauge interest.

6. Schedule Meeting with Team: Organize a meeting involving key members of both the prospect’s and seller’s team to discuss details and requirements.

7. Educate Team: Provide the prospect’s team with detailed information and training about the product, focusing on its use and benefits within their specific context.

8. Send Contract: Send a formal contract to the prospect outlining the terms of the purchase, pricing, and other legalities.

9. Follow Up: Follow up on the sent contract, address any final concerns, and negotiate any terms if necessary.

10. Sign Contract: Closed Won:  Finalize the sale as the contract is signed by the prospect, marking the successful closure of the deal.

Now that we have the first steps from a seller’s perspective, it’s necessary to look at the steps from a buyer-centric perspective.

Steps from the buyers perspective on your CRM deal stages:

1. Schedule a Meeting: Initiate a meeting with the seller to learn about the product and discuss potential fit with your needs.

2. Explore Product:  Participate in a product demonstration to understand the features, benefits, and potential value it could bring to your organization.

3. Discuss Offering with Team: Share insights and information about the product with your team to gather feedback and make a collaborative decision.

4. Schedule Meeting with Team: Organize a comprehensive session with your team to delve deeper into the product’s details and implications for your operations.

5. Team Evaluates: Conduct an internal evaluation involving all necessary stakeholders to assess the product’s suitability, benefits, and costs.

6. Approve Purchase: Gain the necessary approvals from the decision-makers within your organization to proceed with the purchase.

7. Sign and Return Contract: Finalize your commitment by signing the contract and returning it to the seller, thereby agreeing to the terms and initiating the purchase process.

Remember: these steps are very standardized for what a sales pipeline should look like, but it can vary slightly according to each business, product, or needs. Feel free to tailor your sales pipeline to fit the vision of your business.

Let’s refine your sales pipeline

Once we have outlined all the processes in your sales pipeline, HubSpot recommends refining it to achieve maximum efficiency. We’ll trim any unnecessary steps from your CRM’s deal stage to create your perfect sales pipeline.

Remember, HubSpot recommends that your deal stages should be as specific and streamlined as possible to make the sales process much more effective and successful with the platform

Let’s take the list of buyer-centric steps we reviewed in the previous section and start trimming boldly:

First, let’s make sure your pipeline starts in the right place… That’s why we’re going to forget about the first two steps of “Identify Prospect” and “Connect with Prospect.” Why? Because these steps aren’t measurable. Your sales reps might identify a bunch of prospects, and eventually, your sales pipeline could become completely congested with unqualified prospects, wasting your reps’ time and ultimately slowing down the entire process for your business or product.

Now, let’s look at the step of “Scheduling a Meeting.” This is the perfect step to start your sales pipeline and then reflect it in your deal stages. If your sales rep and the prospect agree to a meeting to discuss your services, it sounds like a great sales opportunity.

Before moving forward, we need to focus on the steps from a buyer-centric perspective. HubSpot states that an effective sales pipeline should be created from a buyer-centric standpoint. Therefore, we will disregard the previously mentioned steps from the seller’s perspective.

So, your sales pipeline is shaping up like this. We are focusing on the buyer-centric steps. We’ve removed the first two steps, and we’ve established your initial starting step:

Once we have the first and crucial step in place, let’s continue refining the process. For this, we’ll use four criteria to determine the necessary steps for a deal stage pipeline. Each step must meet these standards:

• Required
• Buyer-centric
• Factual
• Inspectable

Let’s review each criterion and trim the steps that do not match.

Required

This criterion focuses on steps that your reps must take in every sale, without exception. These are steps your reps should not skip. For your own pipeline, ask yourself: “If one of my sales reps skips this step, would it ruin the prospect’s experience or make the process fail or become inefficient?”

With our first defined step of “Scheduling a meeting,” let’s move to the second: “Explore Product”.

Once we’ve had the meeting with the prospect, it’s crucial that you perform a product demo and the prospect explores and understands whether it is beneficial or not. This step is necessary in the process; the buyer must have the opportunity to check or test the product or service to decide whether to proceed with the purchase. Similarly, the seller will have the opportunity to qualify the prospect to determine if they are a customer likely to buy. Skipping this step would be disastrous for the entire process, so we keep it.

In the next step, the buyer will “Discuss Offering with the Team.” If you are selling a product or service that needs to be reviewed and evaluated by a team or group, then this step cannot be skipped or omitted. Therefore, we will also keep this step.

Next, we have “Schedule Meeting with Team.” Depending on who managed the first meeting or the outcome of that initial encounter, this step may have already been effectively covered during the first meeting. Furthermore, if you have a well-integrated and automated system for meeting links that allows your prospects to book meetings with you, there’s no reason to have a step that takes up valuable time to schedule a meeting. So, we’ll say goodbye to this step.

In the next step, the buyer “Evaluates.” This step is crucial as it may be the moment where you negotiate the price of your product or service with your prospect, where the prospect resolves any doubts about your service, or where you agree on the terms of the contract to be signed. If that’s the case, you won’t want to skip this step, so we’ll keep it.

Next, from the buyer’s side, the decision-maker will approve the purchase of your product or service, a step that is absolutely essential for you. Similarly, the next step on the seller’s side is “Send Contract,” which leads to the final and most important point in the sales pipeline: “Sign and Return Contract.” This is when your prospect officially becomes a customer after going through the entire sales process we’ve crafted.

Thus, we will retain these last three steps:

We now have the essential steps for your deal stage pipeline, but we need to refine them a bit more to turn them into your perfect deal stage pipeline. We still need to review three other fundamental criteria to establish the stages.

Buyer-centric:

This term refers to steps in the sales process that are designed from the perspective of the buyer or prospect. Buyer-centric stages focus on ensuring that the needs, preferences, and experiences of the buyer are prioritized throughout the sales journey. 

This approach helps in creating a more personalized and effective interaction, aiming to increase customer satisfaction and the likelihood of closing a sale.

Factual:

A step that’s tied to a specific action rather than being based on a feeling. You don’t want your sales reps managing your leads based on hunches or “measures” that are not quantifiable. You want your pipeline to be grounded in actual actions with real metrics to ultimately close the sale.

Each time a step is completed, you want a clear yes or no, not subjectivity or a lot of interpretation.

Inspectable:

An inspectable step can be verified by a record in your CRM. Many aspects on the buyer’s side are beyond your control or verification, which is why you need steps that are firmly within your team’s control.

Let’s finish the review on the steps

Now, let’s review all your CRM deal stages steps under these last three criteria mentioned:

The first remaining step is “Schedule a Meeting,” which is completely Factual—either you organize a first meeting with your prospect, or you don’t. It’s also Inspectable because a record will be left in your calendar and CRM. It’s also Buyer-centric because both the seller and especially the buyer agree on a first meeting. 

The second step we have is “Demo Product.” This step is Factual as it requires actual action from both the seller and the buyer. It is also Inspectable because at a minimum, the seller will record in the CRM how the meeting went.

The next step is “Discuss Offering With Team,” and while this step is important, Factual, and Buyer-centric, it is not Inspectable because there is no way for you to know how, when, and where your prospect is discussing your offer and product. Therefore, we will remove it:

Next, we have the second meeting with the prospect, where the buyer evaluates your product or service. This step meets all the previously mentioned criteria, so we will keep it and simply name it “Team Evaluates”:

We continue with the step of “Approve Purchase” by your prospect, which from the start is neither Factual nor Inspectable, as the decision-making cannot be recorded at this point and we cannot know factually how it occurred. We will remove it:

Next, the “Send Contract” step meets the initial criteria, but it only applies from the seller’s side and is not buyer-centric. Therefore, what we’ll do in this case is adjust the step to be from the buyer’s perspective, which would be “Contract Received.” This way, it will meet the essential criteria we have set to work with:

And the final step of “Sign and Return Contract” meets all the previous criteria and is also the crucial closing step with your prospect.

We have streamlined this process from 12 steps down to 5 basic and essential steps for your deal stage pipeline. Once cleaned up and polished, it will look like this:

Much better, right? Now we have a clean and efficient process, where you and your prospect will first have a meeting, then your lead can explore your product or service, evaluate whether to proceed with the purchase after a second contact with you, receive a contract to then sign it and close the transaction with you.

This is what an excellent sales pipeline looks like. If you can streamline and reduce it as we did here, specific to the needs of your business, you’ll have an efficient and functional sales pipeline, perfect for your business.

Ready to take your HubSpot deal stages and business to the next level? Let’s make it happen—get to know us better or book a call!

Chatbots have gained monumental significance in today’s tech world, and now the competition is taking place between AI-powered chatbots and their rule-based counterparts. The battle can be resumed between a sharp-witted, improv comedian up against a puritanical classical actor who has never strayed from the script. One thrives on uncertainty, the other comes alive under stable conditions.

This showdown, AI-powered vs. rule-based chatbots, although less dramatic than gladiators in an arena, is no less fascinating. AI-powered chatbots—versatile experts in the digital domain—have this sense of learning from interactions and data we feed to them, making them the counterparts of mentors who grow wise through conversation. Their rule-based siblings, on the other hand, move through the world with a map of preprogrammed responses as reliable as a Swiss watch but sometimes just as predictable.

Not sure where to begin? What type of chatbot technology should your business invest in? Or how can you develop a chatbot and put it to the best possible use for your company? Worry not, you are in the right place. So let’s embark on a journey to uncover the world of chatbots; delve into each aspect and finally discover the real winner in the epic battle between AI-powered and rule-based chatbots.

What’s a chatbot?

A chatbot is a computer program that is used to hold a conversation with human users, either through text messages or voice commands. These digital assistants are implemented in websites, applications, and messaging platforms as a way to drive an interactive user experience, assisting in the provision of information and services while speaking directly with the user.

An ideal scenario for chatbots is to serve the questions and needs of leads as fast as possible, delivering quality service and guidance.

This feature does not build trust only with the existing customer base of a company but also helps in answering important questions that can effectively and automatically lead new prospects through. Chatbots greatly contribute to customer satisfaction and smoothness in the sales process, finally contributing to business growth and success in the online world.

Benefits of using chatbots in your company

Mostly, AI-powered chatbots or even simple, rule-based chatbots allow businesses to leverage new ways of dealing with consumers and operations. They come with a huge set of advantages in different sectors, which help in their widely growing adoptions.

Accessibility and Efficiency

Chatbots enable one to have the availability of a customer support service at any time, significantly reducing time spent on response and therefore increasing customer satisfaction. Today, when the world is on the move, immediate assistance is most probably expected.

Cost Savings

Businesses, through chatbot technology, can manage to perform routine tasks and inquiries automatically, hence optimizing the allocation of their workforce to much more complex and strategic activities. This helps them save operational costs and productivity by increasing it through business automation.

Scalability

Basically, chatbots have a huge capability of concurrent handling of interactions, which makes it easy for businesses to scale customer service efforts without corresponding scaling of support staff. Chatbots are able to score and filter leads, therefore routing only high-value leads to sales reps; low-value leads are directed to other channels, hence allowing the sales team to focus on what is likely to convert.

Personalization and Insights

Especially with chatbots driven by AI, businesses can offer personally customized experiences for customers based on interactions and collected data. Plus, they gather valuable insights into customer behavior and preferences.

For businesses that seek efficiency, cost reduction, and better customer satisfaction, incorporating chatbots has become a strategic move. Now that we’ve seen a big-picture view of the battle and what brought us here today, let’s get down into the nitty-gritty: how AI-powered chatbots differ in their mechanics from rule-based chatbots and what their pros and cons are.

What Are Rule-Based Chatbots?

Now, talking about comparing AI-powered chatbots with rule-based chatbots, one can refer to rule-based chatbots as the guidebooks of the digital realm. They work based on really simple if-then logic: a user says something that fits a rule, then the chatbot responds in a certain way. It’s kind of like playing chess but just with the moves and counter-moves—only that all the possible moves of the chatbot are predestined by the rules set by the creators.

These bots read the input of a user and, following a certain set of rules stored in their base, respond to the mention of a keyword or phrase. It’s just like searching for a question from the FAQ section: if you have a matching question, you get an answer.

Rule-based chatbots are dependable workhorses. They are consistent, relatively easy to construct and maintain, and provide clear, simple solutions to specific issues. They excel in an environment where the questions are predictable and the scope is well defined. However, these come with some kryptonite. Rule-based chatbots can really struggle when a query turns complex or unexpected. They are intelligent only up to the rules they are taught—hence inflexible against their AI peers.

Here are some of the pros and cons of ruled-based chatbots:

Pros:

Cost-Effectiveness: Building a rule-based chatbot is generally a fraction of the cost compared to developing an AI or machine-learning-based chatbot, as it requires less advanced technology and resources. That’s why it’s the most common option for small and medium size businesses.

Low Development Time: Since they are structurally quite simple, they can be developed and deployed in a relatively short period of time.

No Training Data Required: The rule-based versions do not need large datasets for training, as is the case with AI chatbots; this can be a critical benefit to businesses that operate on lower budgets.

Cons:

Limited Flexibility: Rule-based chatbots can respond only to those scenarios that have been anticipated by the company. They therefore find it hard to handle complex, unexpected queries or conversations that are totally beyond the scope of the rules.

Lack of Personalization: Rule-based chatbots are often limited by their inability to remember past interactions or personalize responses based on prior conversations. This lack of memory can create a feeling of disconnection for users, who might perceive the chatbot as impersonal or unresponsive to their unique needs.

User Experience: The interaction can thus feel less natural and engaging than that driven by AI chatbots, which, in turn, can impact user experience on the whole. No one, truth be told, would like to interact with a dumb chatbot.

In industries or for applications where the queries are predictable and have easy categorization, rule-based chatbots return high-accuracy responses. Airlines, hotels, healthcare providers, or banking institutions can make use of rule-based chatbots to fulfill basic requirements through their online customer service. Since their intelligence goes as far as the rules they are taught, they turn out less flexible compared to their AI counterparts.

AI-Powered Chatbots

An AI-Powered chatbot is an intelligent software application that uses artificial intelligence, particularly natural language processing (NLP) and machine learning (MP), to give meaning to human language in a way that is most natural and appealing to the respondent. Unlike rule-based chatbots that work through predefined pathways, AI-powered chatbots remember and learn from interactions, improve over time, and can handle all sorts of conversational nuances, which makes them considerably more fluid and dynamic.

AI-powered chatbots are a big improvement on their previous rule-based versions. They are able to understand even the intentions behind messages, giving out answers that are not clearly programmed in them. Therefore, conversing becomes much easier, and it’s more like talking to a human than a software program. Most of the time, users won’t even suspect they’re not talking to a human.

Here are some pros and cons of AI chatbots:

Pros:

Adaptability: They can operate in conversational environments and in the face of a diversity of user needs, offering answers that are context-adequate and relevant to the topic.

Efficiency: By automating responses to common queries, more time is left for human agents to attend to higher-value and complicated interactions.

Customer Satisfaction: By providing quick and accurate responses, AI chatbots increase overall customer satisfaction and engagement.

Cons:

Complexity and Expense: AI chatbots, being powered by technology and driven by expertise, are much more expensive than their rule-based alternatives, which substantially increases the complexity of the technology.

Misinterpretations: Although AI chatbots are very good in natural language processing, there is a great possibility of user intent misinterpretation or giving the wrong response in return, mostly in very technical or ambiguous situations.

Dependency on Data: The more training data quality and quantity an AI chatbot has undergone, the more effective it should be. Poorly trained chatbots can result in frustrating user experiences.

AI-driven chatbots shape and flex solutions to amplify user interaction and automation of customer service. Even if associated with numerous challenges, such as more complexity and higher costs, the benefits in terms of efficiency, scalability, and possible ways of giving an answer in a personalized and smart manner turn it more and more into a favorite solution for business stakeholders who want to upgrade digital services. Companies bring out AI chatbots that can mimic human interactions. The ultimate goal is to free up human resources for more impact-oriented tasks.

So, what’s the deal with chatbot costs?

It’s time to talk dollars and cents. We’ve already gone over the two main types of chatbots dominating the market along with their pros and cons. Now, let’s dig into how much it actually costs to use and implement one.

Well, the price tag on a chatbot can swing wildly, from absolutely nothing to a hefty $10,000 per month if you have a large team. Yes, you read that right! This variance hinges on several factors, like the company’s own pricing, the different subscription plans they offer, and how the bot integrates with other tools you use in your business.

Let’s take a look at some of the popular chatbot options and their costs:

HubSpot Chatbot Builder

HubSpot provides a free chatbot builder that you can easily integrate with your HubSpot account. With this free version, you can create and deploy chatbots on your website. However, to access advanced features of HubSpot’s AI chatbot, you’ll need a Service Hub Professional or Enterprise subscription. 

This allows you to sync the AI chatbot with your knowledge base and utilize functionalities like routing conversations to specific users or teams. Although the chatbot builder itself is free for creating basic bots, these advanced features require a Service Hub subscription.

Additionally, if you want to assign conversations that the AI chatbot can’t handle to specific users or teams, only those with assigned Sales Hub or Service Hub paid seats can be included in your routing rules.

Zendesk

It’s one of the top support suites out there. According to G2: “Zendesk is an AI-powered service solution that’s easy to set up, use, and scale. It works right out of the box and is flexible when changes are needed, helping businesses stay agile.” 

Zendesk has various plans, ranging from $69 to $149 per month for just one agent. Paying for a full year upfront can make it cheaper monthly. If your company is bigger and you’re looking to invest, they can tailor a plan for you at a discretionary price.

Intercom

G2 states that “Intercom is the only complete AI Customer Service solution that offers a seamless customer experience across automation and human support, which increases customer satisfaction while reducing costs.” 

Prices start at $39 per agent per month and go up to $139 in their most comprehensive plan.

ManyChat

“ManyChat is the #1 omnichannel platform for direct-to-consumer brands, retail stores, non-profits, restaurants, and real estate companies globally. ManyChat facilitates over a billion conversations annually and is used in over 190 countries.” 

It offers chatbot setups for sales channels like Instagram Direct Messages, Facebook Messenger, and WhatsApp, plus SMS Text Messaging and Email in its more expensive plans. They have a free limited version, a Pro version starting at $15 per month which increases with the number of contacts, and a Premium version for which you can negotiate pricing with their sales team.

High offer and value

As you can see, there are numerous chatbot systems available, and many are moving toward AI-powered solutions to remain competitive. Although many companies provide free versions for startups, these are often quite basic and may not significantly enhance your customer engagement.

It’s important to choose your chatbot carefully. A poorly functioning and implemented chatbot can negatively impact your customer relationships and potentially lead to significant financial losses. Making sure your chatbot works well and meets your needs is crucial for maintaining positive customer interactions.

Which one is best for your business?

In this battle of AI-powered vs rule-based chatbots, AI-driven systems clearly have the upper hand with their advanced way of engaging customers and prospects. Yet, don’t count out the rule-based chatbot just yet. If your business has a unique setup, this simpler, straightforward choice might be exactly what you need, delivering the essentials without the higher price tag of its AI-powered sibling.

When selecting a chatbot for your business, consider the following factors:

• Nature of Customer Inquiries: If your business frequently encounters complex customer queries requiring personalized responses, AI-powered chatbots might be the better choice.
• Budget and Resources: Assess your budget and technical capabilities. Rule-based chatbots offer a more cost-effective and less resource-intensive solution.
• Customer Experience Goals: Decide if your priority is to provide quick, accurate information or to offer a more engaging, conversational experience.

Need a helping hand with a chatbot implementation and integration?

Choosing a chatbot it’s not like ordering from a restaurant menu, selecting a great chatbot for your business can be a crucial step that would radically change how you communicate with your leads and customers, simplify operations; and increase growth.

But here’s the thing—the real adventure begins not just when you pick a type, but when you start weaving these tech wonders into the fabric of your business goals and workflows. 

Feeling a bit daunted by the task? No worries, we’ve got your back! If you’re looking for assistance on implementing a chatbot… Book a call!