Live Chat has become an integral part of the customer experience, and it’s no longer optional for big corporations. Live Chat is now a “must-have” feature in many businesses, especially B2B companies.
But what are the best ways to use Live Chat? How do you know if it’s working? Does it provide a ROI? What do the case studies and statistics tell us?
No worries, because in this article, we’ll look those question and discuss the most important things about Live Chat, including actionable advice, such as:
How to measure success with Live Chat, What makes a good live chat agent, Best practices for using Live Chat, How to get started with Live Chat.
Let’s get started.
What is Live Chat?
Live Chat is one way that customers interact with brands online. It allows them to ask questions or make requests directly through the website without calling or sending an email to the company first.
The idea behind Live Chat is that people want to talk to someone right away when they need something from a brand. They don’t want to wait on hold, be forced to speak to a generic automated system, wait for an answer, or make the effort to leave the browser to send an email.
Why should you use Live Chat?
The main reason why so many companies are starting to use Live Chat is that it helps increase sales and improve customer service.
It also gives consumers more control over their interactions with a brand. This means they can choose exactly who they want to speak to and what to know quickly.
It also means that they can avoid being put on hold or having to wait many hours for an important query, which can be frustrating for most people.
Last but not least, Live Chat keeps visitors for a longer time to the website, as they might spend several minutes engaging with the Live Chat agents. And the time visitors spend on a website – also known as dwell time – is an important SEO ranking factor.
How does Live chat work?
There are two types of Live Chat, Text-based and Voice-based. Text-based chats allow users to type messages into a box, while Voice-based chats allow users to talk to agents via phone calls or other audio devices.
The latter is less common and is recommended to use it only as co-option to text chat, as some people do not like (or can’t) have a chat via phone.
Let’s have a look down below at the different type of text based Chats.
Types of Text-Based Chats
Chatbots are automated software programs that act as virtual assistants. A chatbot will respond to user queries by giving a ready-made answer or link based on the message or input from the user. It provides information back to the user instantly, and it uses the keywords of the message or user inputs to provide the most accurate answer possible.
Virtual agents are human representatives that answer questions and eventually also perform technical work based on the visitor’s query. They may even offer suggestions or recommendations.
Interactive messaging is a combination of chatbots and virtual agents. Users can communicate with a bot and then switch to another channel to converse with a real person.
Voice-based chats allow users to speak to agents via phone calls, Skype, Google Hangouts, etc. The advantage here is that it allows users to actually hear the responses from the agent rather than just typing in messages. Voice-based chats can either be recorded and transcribed, or have the conversation streamed Live as it happens. The positive is that they provide even faster answers, and voice calls can be more convincing compared to text answers.
How to measure the success of Live Chat?
Many companies struggle to see any return on investment (ROI) from Live Chat, or they want to understand if the Live Chat integration – and the costs that may come with it – provide a ROI. Good news is there are several things you can use to track the Live Chat performance, and which can help you understand whether your efforts are paying off. Let’s see in detail below,
You can track how much traffic comes to your site from Live chat conversations. You can also track how many people convert after chatting with you.
This is the percentage of visitors who come to your site from Live chats that end up converting into a sale or lead.
Average Order Value
This is the average value of all the products sold during a specific time period.
This shows how happy your customers were about their experience with you (Live Chat) and if they would recommend your business to others.
Live Chat Statistics
As far as Live chat Statistics is considered, it would be best if you considered the following parameter to calculate the success rate,
- Number of Sessions Per Day: This tells you how many sessions you had per day. It doesn’t tell you how long those sessions lasted, but you can get this information from your analytics tool.
- Total Number of Sessions: This tells you how many total sessions you had throughout the month.
- Session Duration: This tells you how long each session lasted.
- Unique Visitors: This tells you how often unique visitors come to your website from Live chats.
- Page Views: This tells you how many page views you received from Live chats.
- Visitor Behavior: This tells you what pages visitors visited when they came from Live chats.
- Top Countries Visited: This tells you where your visitors came from.
- Top Referrers: This tells you which sites referred your visitors to your site.
How Much Does Live Chat Increase Conversions?
- According to research, Live Chat increases conversion rates up to 30%.
- A study conducted by Forrester Research found that companies using Live Chat increased revenue by an average of $18.8 million annually.
- A survey conducted by The Customer Experience Professionals Association (CXPA) showed that 44% of respondents said that Live Chat improved customer retention by more than 50%.
- In another survey, 60% of respondents reported that Live Chat helped them retain customers.
- The most common reason cited was that it allowed them to respond quickly to questions or concerns.
What Are Some Of The Advantages Of Live Chat?
- Live Chat allows you to interact with customers instantly.
- You can easily track conversations between you and your customers.
- You can also see if your customers have any problems with your website.
- Live Chat is easy to implement.
- It’s free!
- You don’t need to hire additional staff.
- It doesn’t require special training.
General Live Chat Stats & Facts
Here are some quick yet interesting and eye-opening statistics that show how popular Live Chat is becoming and how it can be effective.
- Live Chat is preferred by 40% of online shoppers before calling a company.
- 60% of businesses now use Live Chat.
- 70% of customers expect to use Live Chat at least.
- Over 85% of businesses provide Live chat support in 2022.
- 80% of consumers prefer Live Chat over email.
- 30% of retailers plan to increase their use of Live Chat in 2022.
- Live Chat helps solve customer issues faster and meets customers’ desire for immediacy.
- Live Chat has the highest rate of customer satisfaction, approximately 73%.
- Live chat costs 15% to 33% less than phone support.
- Live Chat provides better customer engagement.
- Live chat increases conversion rates by 10%-30%.
- Live Chat improves customer loyalty.
- Live Chat reduces abandonment rates by 20-25%.
- More than 5 billion people use messaging applications on a daily basis, and many live chat offer integration to the same.
- Since the 1973 introduction of Talkomatic, online Live chat communication has existed.
- A two-minute wait period is an average for Live chat responses.
- 70% of companies that use Live Chat have a minimum of 5,000 monthly unique visitors.
- Live Chat solves problems in around 40 se.conds approximately
- The Live chat satisfaction rating in Mexico is 94.11%, the highest globally.
- Customers between the ages of 18 and 49 are the most likely to use Live Chat.
Case studies of Live chat integration
1) Livechat Case Study in GreenState Credit Union
GreenState Credit Union used Live Chat to improve the experience of its members. They were able to reduce the number of calls to their call center by 25% while increasing the number of successful transactions by 14%. Their member satisfaction score rose by 5 points. Their cost per transaction decreased by 12%.
Live Chat reduced the number of abandoned carts by 22%. Fulfillment by GreenState uses Live Chat to help its customers find what they’re looking for. It helps them complete orders quicker. It also helps them get refunds when necessary.
2) Results of Livechat in Arun Estates
Estate agents that can rely on having their phones promptly answered can use Yomdel Live Connect. Client sales teams in the UK quickly contact with Yomdel human operators in real-time with the highest-value vendor and landlord leads obtained via online Live Chat. Clients should expect quick replies and high-quality service as a result of this.
Arun Estates uses Live Chat to increase conversions. They use Live Chat to:
- Improve the speed at which they answer incoming calls
- Increase the number of calls they can handle
- Improve the overall customer experience
- Increase Sales Conversion Rate
- Reduce Abandoned Carts
- Save Money
- Increase Revenue
- Increase Retention Rates
3) Role of LiveChat In Zoho CRM
Zoho CRM has been built around the concept of “Live” communication. It is a highly interactive tool where users can communicate directly with each other as well as with Zoho CRM. Zoho CRM uses Live Chat to provide instant answers to all inquiries. Users can ask questions about products, services, billing, support, etc.
Zoho CRM uses Live chats to:
- Help users resolve issues faster.
- Provide better customer service
- Improve user engagement
- Increase revenue
- Lower abandonment rates
- Increase conversion rates
- Reduce costs
- Improve brand reputation
Live Chat Search Interest
We hope this article will help you understand how Live Chat works and why it should be part of your business strategy. We are sure you will benefit from our statistics and case studies. If you have any questions, please feel free to leave a comment below or contact us.