Offering a live chat service for your business on your website can really be advantageous for the growth of your business.
In the recent times, with the growth of several free live chat software solutions, integrating live chat software in your website is easier than ever before.
Additionally, live chat support also carries some most important benefits, as recent researches show that 79% of businesses that provide live chat support say that they have received positive impact on their sales, revenue, and customer loyalty programs by implementing live chat facilities in their websites.
In this same research, it has also been noted that live chat service is the most preferred communication method in the recent times for most of the consumers, as people favor chat services for customer support than emails, telephones, and even social media channels.
However, how will you be able to leverage your live chat solution to the fullest and thereby maximize the benefits it provides to your organization?
Here are a few vital KPIs (Key Performance Indicator) that can help your business to continually improve the live chat functions that you should measure on a regular basis by analyzing information stored in your CRM database.
1. Average Wait Time
The key to maintaining a high level of satisfaction for your customers lies in measuring how long the consumers of your offerings have to wait for a response from your chat service. For example, if a prospect or a customer visits your website and a chat window pops up instantaneously, it is vital that any question that your customers pose must be answered quickly.
It is natural that if customers have to wait more than a few minutes, for the response, they grow impatient, which in turn generates a bad reputation for your company.
Therefore, the bottom line is that once you provide online live chat support on your website, be sure that you have sufficient chat agents available to field incoming questions from your leads, prospects, and customers visiting your website.
2. Average Chat Duration
This chat metrics show you how long do your agents take, (on an average) to wrap-up their chat conversions. According to research done on live chat support statistic, average chat duration across industries hovers at around 11-12 minutes.
It is also necessary that your chat agents must devote enough attention and time to resolve an issue on the very first move. Therefore, they need to spend a few minutes to comprehend the problem before offering a solution to the recipient on the other end of the chat line.
Hence, viewing the data stored in your CRM database, if you find that the average duration of your chats is too low, it can be an indication that your agents are not devoting enough time to resolve issues, which can forebode negative customer satisfaction ratings from your consumers.
However, on the other side, if your chat agents are taking too long, it can also indicate that you agents may require add-on training or guidance to address the issues quickly.
3. Total Number Of Chats Per Day
When you are using live chat solutions, on your business website to offer customer support, you will have to gauge the number of agents you need to man the ship. To do this, you need to measure that total number of chats that are raised by visitors every day, which can be easily analyzed from the information stored in your CRM database, and then calculate how many agents are required for offering a speedy service.
This metric is most important, as it helps in keeping a tab on the KPI and increase the number of your agents as and when the chat volume increases, since failing to do so can result in longer waiting time and slower response time for your prospects and customers.
4. Customer Satisfaction By Agent
Once your live chat software is a part of your easy to use CRM system, it can provide you with the ability to deliver surveys online. Therefore, using this information from the CRM database, you should leverage these to gain feedback and measure the rate of customer satisfaction with the performance of each of your agents.
Therefore, if you find some of your agents are yielding higher satisfaction levels while some other agents are not, it can be a probable time to look into the matter and understand why. Since doing so will help you identify performance issues, and ensure that each rep is fully capable and equipped with resources for generating optimal satisfaction through your businesses’ live chat presence.
5. First Contact Resolution Rate
FCR or First Contact Resolution rate refers to the percentage of the live chats those that have been resolved on the very first call, without the need for escalating the problem. Therefore, check your CRM database if you find that your FCR rate is low, which can mean your agents need additional training to deliver better services.
According to research done by Forrester Research:
“77% of consumers feel that paying value to their time is the most important thing any business organization can do when it comes to delivering online customer service.”
6. Conversion Rate
If you are using live chat support for your business, you can as well leverage it for lead generation. It can be assumed that prospects that visit your website and ask a question are apparently interested in your offerings, which can be an excellent opportunity to get them engaged with your brand.
Teach your chat support executives how to pitch your products and services from a sales perspective, by making them learn to speak in terms of benefits rather than highlighting the features of your offerings.
Therefore, as revenue grows when an agent generates new leads for the company, measuring how many new visitors are converted into customers can help you to determine how active your agents are at pitching your offerings.
7. Length Of Post Chat Wrap-Up
After the live chat is over there are also other various things that your agents may need to do to process the information. This could mean entering new lead contact details and other notes in your CRM database, and so on.
Hence, measuring how long it takes for your chat agents to close one chat and be available for the next one helps to ensure that the post-chap wrap up takes place quickly.
Therefore, if you find that your agents are taking too long to wrap-up their live chat notes, it probably means that you should be automating a few more steps in the wrap-up process to escalate efficiency of the live chat system.
8. Missed Chat
Missing a chat after installing a live chat support is one of the worst things that can happen for the reputation of your business and its bottom-line.
Surprising according to the studies done by some of the most famous research organizations 21% or one-fifth of all live chats are missed every day. Therefore, if your team is missing a lot of chats, it can be a possible indication for hiring more chat agents or better train the ones you already have.
Live chat software when used with an easy to use CRM software can not only increase customer satisfaction but also help in generating more new-leads and convert more prospects to customers.
However, the trick lies in using your live chat software to its fullest and for doing so you need to rely on measuring your chat KPIs stored in the CRM database to ensure that your chat agents are fully equipped to close more chats in less time and pitch your offerings regularly to your prospects.
Do you measure any other live chat metrics that you find predominantly more insightful and helpful? If it is so, do let us know in the comments section below.