ROI,
which stands for Return on Investment, is a statistical measure that determines
the extent to which financial returns are generated in a business environment
once an investment has been made. The higher the profits, the higher the ROI.
This metric, a darling of the bean counters, is a key performance indicator
with respect to the amount of funds invested in a venture as opposed to the
rewards it returns.
If
you ask, “what live chat software has to do with ROI?” the answer just may
surprise you-- a lot!
Enhancing ROI with LiveChat Software
Given
the intensity with which just about every online business is currently
experiencing keen global competition, any strategy, platform or tool that helps
you hold on to your existing customers while bringing in new ones is a true
winner from a ROI perspective. This is precisely what live chat is doing for
thousands of businesses worldwide. It is being used successfully to deliver a
rich blend of personalized on-demand service and support as well as to raise
the bar on sales through proactive engagement and soft sells. Let us take a
quick look at how you can increase your ROI by implementing a live chat
software solution on your website:
Enhance Customer Happiness
A
happy customer is a repeat customer. Given the rising costs of customer
acquisition, customers need to be indulged in more ways than you think. Live
chat software provides an excellent vehicle to achieve this mission. Serve up
the right answers to the queries your website visitors and customers submit
through live chat. Do not keep them waiting for more than 30 seconds as you
respond to their inquiries. If your live chat agents have to initiate the
research and complete it while the customer is waiting, there is something
wrong in your delivery mechanism. Your agents should either know the answers up
front or should be able to push answers to routinely asked questions through
professionally pre-scripted text messages called canned messages. There will be
times when customers ask questions that are “off the charts” in which case
agents should offer to research the information and send the findings later via
email as opposed to keeping the customer waiting for five or ten minutes. If
your budget permits, try keeping your Visitor Chat Window open for at least 18
hours a day so that your website visitors and customers can expect to find your
chat icon active and humming with activity most of the time. Adopt these
recommendations and you will notice a gradual and significant increase in the
number of repeat customer visits. This will, in turn, increase revenues and
generate sales thus helping your ROI go sky high.
Leverage your Analytics
Live
chat software not only connects websites with customers and puts a human face
behind the website, it also delivers a rich bouquet of analytics features that
are often under-estimated and ignored by web entrepreneurs. Features such as
real time visitor tracking and chat interaction stats can go a long way in shaping
strategy. You can also generate rich reports which show you how your visitors
are arriving on your website, on which pages they are landing and exiting, how
much time they are spending on each web page they visit, their nationality,
language, browser being used and much more. Live2Support, for instance, also
provides paid search campaign tracking for Google and Facebook. You can
customize a wide array of MIS reports which you can use to improve the quality
of service you are providing your customers as well as website visitors.
