For a small company, or one of any size for that matter, reducing costs and increasing revenue is one of the general rules of business. There are many ways to cut business costs, including reducing supply costs, reducing operating hours, sharing your workspace, and more. One of the more efficient ways to reduce cost and increase revenue without alienating your customers is to automate routine tasks and use technology to cut administrative costs, improve customer service and modernize your marketing efforts.
How does a brand achieve this? Harnessing the power of live chat software is one way.
With technologies advancing exponentially, it’s important to stay up to date with popular trends, not only to stay in touch with consumers but to be innovative in your industry. Live chat software lets you achieve all of the above, much to the benefit of a potential customer who doesn’t have to be on a phone hold for the next customer service agent. Live chat software on your website provides a quick and easy source of reference and can help generate leads and make sales.
Below are a number of statistical benefits to utilizing live chat software on your website or app, and how Dependable Website Management can help you implement it onto your website.
According to a Forrester Consulting study, via the American Marketing Association, implementing an interactive chat platform saw the following:
305 percent ROI from sales chat with a payback period of six months (when using paid chat services).
120 percent ROI from customer service chat with a payback period of 6 months (when using paid chat services).
59 percent call deflection rate.
Live chat software also helps answer customer questions and removes buying objections, increasing conversions by 20 percent, according to Insite Software. Their report also claims that customers who use live chat are three times more likely to buy a good or service because chat provides a method for more direct and personal interaction with customers, resulting in increase in likelihood that they will make the purchase.
With increased interaction, customers walk away feeling more satisfied and positive about your brand. Increased loyalty can quickly turn into increased spending. Oracle’s Global Consumer Trends study found that 90 percent of customers said live chat option gives them confidence someone is there for them if they need it.
What is wrong with the call centers?
A number of brands and corporations are moving their customer service call centers to other countries to help lower costs, but live chat technology is between 17-30 percent cheaper than handling phone calls, according to a Forrester Consulting study. They found following results for cost per contact with a customer:
- Call center technical support call: $12 and higher
- Call center CSR: $6 and higher
- Web chat or call back $5: and higher
- E-mail response: $2.50 to $5 and higher
Furthermore, one customer service agent is able to simultaneously carry on up to three live chats at one time instead of handling just one call. There is also a sense of dread many of us face before calling a customer service hotline and no painfully awful hold music to listen to. Adding live chat as a part of a brand’s customer service plan is just another option to give choices for your customers.
Another negative about call centers is the occasional language barrier between service reps and customers. That negative is the live chat technology’s gain as the software can even translate from a customer’s native language into one that is most comfortable for the service rep. This multilingual capacity makes your brand appealing to anyone in the world.
What is CRM?
CRM stands for customer relationship management. A CRM system such as Salesforce, Insightly, or Zoho can store customer and potential clients’ contact info, accounts, leads, and sale opportunities in one location. CRM is built around relationships to give you a clear overview of your customers. While CRM has traditionally been associated with marketing, the idea also helps customer service teams manage requests from all mediums.
According to an Aberdeen Group study, integrating live chat conversation into the CRM system is very important. This solution can enable service personnel to more effectively understand the nature of the accounts with whom they interact.
Dependable Website Management’s services don’t stop at working with clients to setup live chat technology, it goes the extra mile when it comes to e-commerce including managing API connected stores to giant whorehouse operations.
The e-commerce arena is a field of expertise that Dependable Website Management is very comfortable and confident working in. Whether it’s online stores with tens of thousands of products in them or stores that focus on one just product or service or even online stores that sell membership style products, they have got you covered.
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Phone: (954) 740-7900