10 Live Chat statistics for 2021 | Engati Live Chat
What was once considering an accessory has now turned into a necessity for many organizations. We’ve seen a change in customer experience culture- it’s no longer seen as a department, but as a philosophy that flows through the entire organization. It can influence product design, research and development, sales and marketing.
We’ve also noticed that as more organizations implement Live Chat, the more prosperous they become. Why is that? And how is Live Chat helping businesses grow?
10 reasons why Live Chat helps businesses grow
1. It’s the most preferred way to get in touch
According to SuperOffice, 41% of customers prefer Live Chat for contacting support. Followed by phone support at 32%, and lastly email support at only 23%. Live Chat adoption is actually expected to grow by 87% in the next 18 months. We’ve found that customers prefer texting over calling someone for support. This could be for a couple of reasons:
- It’s more convenient
- Getting a query sorted on Live Chat can take up to 10 minutes, whereas phone calls can last for hours
- No one want to be put on hold
- Visiting a company website for answers is more intuitive than calling
2. Increases sales and conversions
Because of the current quarantine, a lot of consumers have gone from shopping in-stores to shopping online. But did you know that the experience of conversing with a live agent on an e-commerce website is similar to going to a store and having a salesperson coming up to you and recommending additional products?
The void of in-store experience has caused a demand for an experience that’s similar, and Live Chat can deliver such an experience. One, because it’s quick. And two, the live agent can help navigate a customer through the sales funnel. Having answers delivered to them in real-time will make the decision-making process easier for the customer. It also provides plenty of opportunities for live agents to offer additional products and services along the way.
This concept is known as the average order value, and Forrester noted that there was a 10% increase in the average order value in sales with customers who engaged in a conversation with a live agent.
3. Provides better user experience
The process of buying and getting customer support becomes frictionless when you implement Live Chat. It’s not a pop-up that urges customers to make a purchase, nor is it a bridge to direct customers to other channels. it’s a bubble that offers support when a customer needs it.
People prefer to use Live Chat when they’re already online- it’s much easier to visit a website than it is to draft an email or to make a phone call. Businesses are noticing this as the Live Chat market is expected to grow to $987M by 2023.
4. Narrows gap between customer and brand
According to Forbes, companies with higher CSAT scores of 90% had a chat duration of 11 minutes, whereas companies with lower scores had a chat duration of 9 minutes in 2019. This suggests that it’s not always about quantity and speed. And that customers actually enjoy interacting with live agents and are willing to spend more time with them.
5. Contributes to brand credibility
Customers that are satisfied with the service your business offers will be less likely to switch to competitors. According to Zoho, 26% of businesses that offer Live Chat saw an increase in both user satisfaction and retention. They also saw a 19% increase in revenue, and a 38% increase in conversions.
6. Increases agent productivity
Agents are answering the same questions over and over again leads to a decrease in productivity. By using Live Chat in tandem with smart responses, agents can resolve queries in seconds without typing. This allows them to focus their energy on more complex queries.
Another aspect to note is the burnout that support calls give to agents. Customers who call helplines expect agents to answer their questions on the spot. This puts a lot of pressure on the agent- they end up scrambling for answers, it causes delays, customers get frustrated, and it leads to an unpleasant experience.
When using a Live Chat software, everything an agent needs is in front of them. They can quickly refer to their knowledge base or ask their supervisor for help if stuck. There’s less pressure which leads to an overall increase in productivity.
7. Improves customer satisfaction rates
According to Inc, 92% of customers feel satisfied after using Live Chat. While industries are moving towards automation, Live Chat offers a more human experience that’s facilitated by digital tools.
Customers were also satisfied with how quickly their queries get resolved, with resolution times reaching an average of 4 minutes.
8. Scales well
Even if you hire 100 customer service representatives, they can only handle one phone call at a time. In comparison, 1 live agent can handle up to 10 conversations simultaneously.
9. It’s convenient for both customers and agents
While speed is king in a digital world, convenience is the supreme leader. When a customer is distressed, their immediate instinct is to go directly to the source- A.K.A., your website. Reading through FAQs, jumping between platforms is inconvenient for the customer. By having a Live Chat widget in front of them, they can easily sort things out. In fact, 20% of millennials prefer Live Chat because of the convenience it offers.
Agents on the other end also don’t have to jump between platforms to reach customers. With a one-view inbox, issues can get sorted instantly.
10. It’s cost effective
According to Indeed, the average rate for a customer service representative is $13.75 an hour. If you hire three representatives full-time that comes up to $2062.50 a week. And customer service agents aren’t on 24/7, they take holidays, they have breaks, and they can fall sick. Customer support also has costly operating costs. The cost for maintaining a toll-free number, calling charges, etc., it all adds up.
The benefit of using a digital Live Chat solution is that it’s way more cost effective. Live Chat platform only costs $19 per agent per month. And this covers maintenance fees, operating costs, even labour costs!
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