Customer service agents are turning to live chat to make their companies more efficient, streamline their support teams, and serve customers better overall. This approach has its benefits and drawbacks but ultimately can be quite helpful to your business if used correctly. Here’s what you need to know about the impact of live chat on conversion ratios in your company.
20% conversion ratio increase
An average conversion ratio increase is around 20% when a company includes live chat support. If ten people visit your site, 2 to 3 will purchase with live chat support instead of 1 or 2. Depending on your industry, the impact can be much more than 20%. For example, it’s common for real estate sites to see 40-50% conversion ratios after implementing live chat.
There are two big reasons why live chat increases conversion ratios. First, people want a quick answer to their questions before making a purchase. They know that they may wait on hold for hours by sending an email or calling customer service. The second reason is more strategic: it allows you to understand better your customers and how they use your products.
When your live chat is part of a larger customer service strategy, you’ll be able to learn about where customers get stuck, how they use your products, and what questions they have. Not only does that information help improve your conversion ratios today, but it also gives you opportunities to improve your business for tomorrow. With more accurate insight into customer behavior and support needs, you can better evaluate what’s working and what isn’t regarding your product offerings.
33% customer satisfaction increase
A 1,000-person study conducted by Netpop Research found that live chat drove a 33% increase in customer satisfaction. Customers cited how quickly they were able to get help as one of their favorite benefits of live chat support.
If you’re still not convinced that your website should have live chat support, consider another study: a 2009 report by Forrester Research found that companies who offer live chat see a 14% increase in sales revenue. By providing better customer service via live chat, companies also drive traffic to their sites.
It’s easy to see why live chat drives up sales. Customers have an easier time finding what they need online and have no fear of losing their place, as they would with the phone or email support. Since companies see a 33% increase in customer satisfaction with live chat support, it’s no surprise that they also see a 14% increase in sales revenue. A great way to make your website more user-friendly is to add live chat support today!
18% customer loyalty increase
People who use live chat (also known as real-time messaging) convert at 18% higher rates than those who don’t. This is even more significant in industries that tend to have a lot of repeat customers, such as restaurants and service providers like plumbers. Without it, these types of companies are leaving money on the table.
It also helps make customers happier. Research shows that customers who use live chat are 67% more likely to be loyal than those who don’t. Additionally, they’re 70% more likely to say they’d recommend your brand to others and 96% more likely to purchase again in the future. What’s not to love?
In short, live chat is a powerful tool that can lead to better customer relationships and increased revenue. Companies who aren’t using it are at a significant disadvantage in terms of providing excellent customer service—so it’s time to get on board!
50% customer lifetime value increase
No matter what you sell, a chatbox can increase your sales. With live chat, customers are more likely to buy and stay loyal. When your customer has an immediate need or question, they’re much more likely to contact you with a real-time conversation than they are to email or call later. You’ll have an opportunity to turn that one-time buyer into a repeat customer by establishing trust and a rapport that may not be possible otherwise.
When you’re able to communicate more quickly and directly with your customers, you’ll be able to answer their questions in real-time and establish a rapport that helps ensure repeat business. A chat box gives your customer a convenient way to get help when they need it, which can significantly impact your sales.
One study found that 50% of customers who were offered chat box support made a repeat purchase, while only 40% who weren’t provided chat box support made a repeat purchase. That may not seem like much at first glance, but what those numbers represent is vast: it means that by providing chat box support to your customers, you can increase your customer lifetime value by more than 50%. Now isn’t that worth some initial investment?
Conclusion
The impact of live chat is clear. It reduces abandonment, increases conversion rates, and raises customer satisfaction with a company. All three are highly desirable in any industry, so companies should consider adding live chat to their online presence as soon as possible.
Since live chat is relatively cheap and easy to set up, it’s an excellent way for companies to get started with real-time communication and see how it impacts their conversion ratios. It also only takes a few minutes to integrate, so businesses can start seeing results quickly without making significant investments.
Companies implementing live chat have seen their conversion rates increase significantly while also reducing their abandonment rates. And customers appreciate it. A survey found that 76% of respondents say they are more likely to return to a site when live chat is available, and 74% feel like companies with live chat care about customer service more than those without.ss
