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February 18th, 2019

Live Response Means More Sales, Less Costs

Live Response Means More Sales, Less Costs

If you have been involved in business for any length of time, whether it is marketing, sales, customer service or any other aspect of operations, you might have heard of a million different ‘next best things’ or new approaches. So, I know what you are thinking, here’s another empty promise of all kinds of benefits, improved conversions to higher ROI, lower costs to added efficiency. It is very easy to become jaded from that, and we can all be very skeptical about new or different approaches to anything. What if this time, those statements are backed up with real facts though? That makes a difference, because this is not an idea, but a proven, practical approach. Still not convinced? You should probably try it for yourself, what have you got to lose?

 

Improved conversion rates

Firstly, when discussing the benefits of live response, we often talk about increased conversions and a better perception of the brand by customers. In fact, a study conducted in 2016 by the American Marketing Association has shown that live customer service can actually improve conversion rates by at least 20%, a significant amount for any business. It may come as a surprise that it is such a large increase, but if you think about the process, and then realize that customers like chatting, you can begin to see how the benefits of live response are so spectacular.

 

300% ROI

There are significant cost benefits too, the same study by the American Marketing Association also revealed that for sales teams using paid live chat software, a typical return on investment is around 300%, making it incredibly cost effective as well as something that customers enjoy and approve of. With the live customer service costing less than traditional phone based solutions as well, for instance a recent cost study showed that live response is 17-30% cheaper than a phone call, the cost implications are very clear.

 

An efficient mean of communication

Of course, costs savings are only worthwhile if they do not devalue performance, and as we see from the improved conversion statistics, live response is preferred by customers. In fact, it is the chosen platform for customers almost twice as often as email, and two and a half times more than social media, because as we should always remember, customers like chatting.

 

Businesses love live chat, customers too

When you look at live response in conjunction with these statistics, it becomes clear that this is an approach that customers like, and it is very effective at delivering the customer experience they are looking for. However, it is also clear that it lowers costs and increases efficiency too, so in practice it really does live up to its reputation. A customer support solution that can do all of these things at the same time is one that should not be ignored. Lower costs, improved performance, that is the live response solution that works for business and customer alike.

 

Avatar Chloe
Written by
Chloe
Growth at Xeno—I wish there was a chatbox on every website to help my technologically challenged mother discover the wonders of the interweb.