Are you struggling to measure the effectiveness of live chat? Do you have limited visibility into the ROI of your program? Or, are you delaying live chat adoption altogether because you have no way to prove its potential value? If you answered ‘yes’ to any of these questions, you’re not alone.
If You’re Considering Live Chat…
It has been established that live chat is one of the best ways to increase sales and customer satisfaction in real-time, but how can you prove its potential contribution towards the bottom line? Here are just a few statistics that might help you gain buy-in from your boss, team, or stakeholders.
- Higher Conversions: The AMA (American Marketing Association) found that live chat increases conversions by 20% and that customers who engage with live chat are three times more likely to make a purchase.
- Increased AOV: According to Internet Retailer, live chat can increase average order value by 15%. Live chat allows for real-time upsell opportunities that can lead to extremely lucrative results for your business.
- Happier Customers: Econsultancy found that live chat allows for higher customer satisfaction than any other customer service channel (including email, social media, and phone). Live chat gives you the ability to offer a better customer experience.
If You Already Have Live Chat…
While live chat is typically part of a larger marketing and engagement strategy, many programs fail to paint a clear picture of its full impact. Actionable intelligence is limited, leaving teams with the burden of uncovering key results like conversion rate, incremental value, and RPV. While metrics like number of chats, chat satisfaction, and average handle time matter tremendously for the overall operations of your program, they won’t necessarily prove the monetary value that live chat is bringing to your business.
In order to show bottom line results, you must have a way to track the customer’s entire journey, from first click to purchase. This requires a consistent attribution model and a sound control group methodology.
Regardless, Effective Measurement Is Key—Here’s Why
By engaging your customers in real-time, live chat has the potential to make a significant impact on your bottom line—but, like most things in life, results aren’t guaranteed. The only way to measure the true impact of your live chat program is to gain a holistic understanding of the customers journey from end to end. With an intelligent live chat solution, you’ll gain a holistic understanding of where results are coming from, the insight you need to continuously improve your program, and the visibility you need to justify the investment and deliver the best possible ROI.
If you’re curious to learn more about whether or not live chat makes financial sense for your organization, contact our team of experts today. Or, learn more about effective measurement with live chat.