I Hired an AI, and I Liked It: What’s an AI Actually Worth?

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At Bowtie we’ve created an Artificially Intelligent receptionist that makes your life much much less stressful. It frees you up and gives you more peace of mind so you can focus on making your business extraordinary.

But what is it really worth? Is it an investment or an expense? How do you know it’s really worth it for your business?

Luckily, we’re debuting our new ROI (Return on Investment) Calculator so you can get an exact cents (😆) of how much it is worth.

Let us break it down for you. At its core, our AI Receptionist has two direct benefits to your bottom line it:

  1. Grows your client base by converting customers you would have otherwise missed.
  2. Saves you precious time by handling the tasks that can be easily automated away.

With this in mind, we designed our calculator to provide you exactly how much money it’s going to make you and how many hours it’s going to save you!

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At Bowtie, we prize 🍕 above all else.

Bowtie’s Numbers

Using our own data for how our AI receptionist has performed at 100+ locations, we have calculated these averages.

% of all appointments Bowtie books automatically 15%
 % of appointments Bowtie reschedules automatically 2%
% of all appointments converted from new user missed calls 0.33%
Time to book per appointment (in minutes) 5

To summarize, your AI receptionist will handle on average 15% of all appointments in your books, and 2% of all your appointments will be rescheduled by the AI. In addition, based on our AI’s performance across all our businesses, your new helper will convert new customers through missed calls relative to 0.33% of all your appointments or a minimum of 1 new customer a month (whichever is higher). For time saved, we estimate that it takes, on average, 5 minutes to place in an appointment start to finish.

Your Business’s Numbers

We have observed the following averages for businesses on our platform. However, these are variables you are free to adjust in the calculator!

Average Cost per Appointment $75.00
Number of Appointments per Month 1200
Time in months between appts 3
Bowtie plan ($99 or $129) $99.00

Lastly and perhaps most importantly is the formula for the Lifetime Value of a Client:

LTV = cost per appointment * visits per year

This is critical for understanding the value of booking a brand new client to your business. The idea being, that this new customer will keep coming back for more and more of your top-notch service. Combine the cost of an appointment with the number of times a year your client is likely to return for a year and – voila! We have the LTV of a client at your business.

The Verdict

0.33% new clients from missed calls * 1200 appts / month* $75 * 4 visits per year = $1188

1200 appts / month * (15% AI bookings + 2% AI reschedules) * 5 min / booking = 17 hours saved

Using the numbers we have laid out above (which you are free adjust!) you will discover that an AI receptionist will make you $1,188 a month and save you 17 hours a month! With our annual plan for $99 a month that means Bowtie has a 1100% ROI!

video art math GIF by Zita Nagy
Now it’s your turn 🤓💃.

See what your AI can do for you!

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