Can LIVE CHAT Increase The ROI Of Your Business?

By James Tredwell on December 14, 2019

From eCommerce to mCommerce, every business aims at increasing the ROI.

Even you might be in search of something to trigger your ROI, right?

But, the question is how to do that?   

Not to worry! In this article, we’ll go through a single feature named “Live Chat,” which can increase the ROI for your business.

Before going further, let us first get through some of the issues that lead to a drop in the ROI.

Facts Leading To the Drop-In ROI

Here I’m listing some of the issues faced by the user, which leads to a decrease in business ROI.

  • Delay or completely ignoring the problem faced by the user.
  • It is analyzed that approximately 70% of the companies disregard the issues faced by the customers, and 83% of the queries on social media go unanswered.
  • Some users will uninstall your app and will switch to other apps, rather than giving any reviews. So, you will not be able to get the exact reason for the decrease in ROI.
  • Reports say that 60% of the users reinstall applications. There is a 70% chance to sell your product to the regular customer in contrast to a new one.
  • No marketing person can help you increase ROI if your application has a bad UX/UI.

So, what can be the one-stop solution to the problems mentioned above?

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Most Trending Customer Engagement Tool

LIVE CHAT, Yes, you heard it right! Including live chat option on your website or application will increase the chance of customer conversion by three times.

Live chat is the most effective channel to keep customers engaged on your website. And, the best thing here is that live chat is easy to install, unlike emails or phones.

When you integrate the live chat on your website or application, it will streamline your customer support service and uplift your brand image.

On account of the above information, live chat can be considered the best tech upgrade for your website to increase the ROI.

5 Live Chat Tips That Will Increase Your ROI

1. Buyer Support Through Live Chat

As soon as a customer faces a problem while surfing an eCommerce website, they might abandon their shopping.

There will always be customers who need assistance while going through the buying process. Therefore, supporting them through a medium like live chat will decrease the abandonment rate for the buying process.

With the help of the live chat agents, you can provide the best buyer support and advice at any point in their online journey. Live chat feature in your eCommerce or mCommerce application will help you convert your troubled customers into confident buyers.

Yes, you might not get the troubled customers every day, but if you keep them ignoring, it will lead to a decrease in sales. By offering support to the buyers in this situation increases ROI.

2. Cross-Selling For The Products

As told earlier, it is not just about selling everything to the customers but a matter of providing a valuable service (which, in a way, leads to an increase in ROI).

A material conversation with a website visitor can let you know a lot of information about the products you sell. For instance, if a live chat agent is working on a wine selling website, they can analyze whether a customer was buying dozens of red or white wine for any special occasion. If yes, then they would also need some champagnes for toast and even some new occasion perfect glasses to drink from.

Such analysis with live chat can help you in cross-selling of products, increasing ROI. And cross-selling of products can be quickly done for eCommerce as well as mCommerce website.

3. Basket Abandonment

We already discussed basket abandonment, but here we’ll go through another part of it.

Consider, a customer faces an “out-of-stock” message or payment error, will they stay on your website? Obviously not! So, to avoid this bounce by customers, we can pop up the message to offer help without waiting for them to ask for the same.

It can be done with the help of a proactive live chat. Consumers get an invitation to chat live about the problem they are facing with the help of the popup. It will reduce the basket abandonment rates and increase ROI for your website.

4. A Perfect Product For Customers

Live chat not just acts as a customer support channel, it’s even used to encourage the online shopper to buy quicker.

Remember, selling via live chat requires a lot of skills from the live chat agents. When a customer comes to enquire about some specifications for their needs, the live chat agents have to make sure that the question is resolved and the sale is made.

These days, whether it is eCommerce or mCommerce, personalization is an essential part. As 73% of the customers prefer to buy the products from the business providing a pleasant shopping experience.

Providing customers with the information they need through live chat will lead to a significant increase in ROI.

5. Avoid Attracting New Customers

For most of the cases, it happens that your marketing team will focus on strategies for gaining new customers rather than working on the regular ones. But, it is noticed that more than 50% of sales come from regular customers rather than new ones.

Henceforth, with the help of the live chat, you can keep the regular customer engaged and solve the issues faced by them. It will directly lead to an increase in ROI. One tip here is to keep your regular customers engaged, or bring back the ones who left. Try to advertise the latest changes you made on your website and mention reasons to use your application.

Live chat becomes essential for eCommerce and mCommerce websites.

Live Chat- Increases ROI (The Best Investment from eCommerce to mCommerce)

After having a glimpse of live chat for your business, do you agree it can increase the ROI for your business? Live chat can increase the ROI for your website and even put a satisfied smile on your customers’ faces. You have paid a huge cost of app development, and henceforth it is essential to get the best ROI for the same.

Below given are some of the reasons to include live chat in your eCommerce or mCommerce site,

  • Supporting more than one customer at a time.
  • Co-browse and live chat can go simultaneously.
  • Live chat will decrease the customer support budget.
  • It is the most trending thing out on the web.

So, why do you need it?

It is observed that more than 60% of customers refuse to wait for more than a minute to get their reply. In that case, if you have a live chat option on your site, your chat agents can quickly come up with the customer’s need. Once you keep engaging your user’s through live chat, you’ll see a drastic change in the ROI of your business.

Sounds good, right?

The Parting Thoughts

We learned above that, live chat is not just all about customer service. It can help your business to increase ROI with customer satisfaction for the services.

Implementing live chat and having the right team of experts handling the conversations is essential. And the best thing here is you don’t need to add a single penny in your cost of app development. You just need to add a plugin for including live chat.

So, that’s all for the day! Did you find this article helpful for your business?

What are your thoughts on live chat?

Let us know!

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