While phone and email worked side by side, the mainstream introduction of live chat software has revolutionized interpersonal and business-to-customer communications in the 21st century. Here are 25 interesting facts and statistics on live chat, including how it can benefit your business.
Are you interested in building and managing a custom internal chat application? In-App Chat is just what you need for a fully functional internal chat program.
Interesting Live Chat Statistics
Most Companies Using Live Chat Are Small Businesses
While this may be surprising, 70% of businesses using live chat are small businesses with more than half using only one chat analyst. An additional 39% using only two to five analysts, which depends on if the company wishes to provide round-the-clock customer support.
Live Chat is Widely Adopted in B2B but not B2C
According to Zoho, 61% of B2B (business to business) companies use live chats, while only 33% of B2C (business to customer) companies offer such a service.
The Live Chat Market is Growing
Live chat services are catching on with consumers and businesses. The live chat software market is predicted to reach an astounding value of $997 million by 2023.
Mobile Drives Live Chat
We live in a mobile world where access to the internet is just a click away. As a result, 94% of companies with live chat have reported receiving customer support requests from mobile devices.
The Work Day is the Busy Time
Ratings Are Highest Late Afternoon
According to research done by Zendesk, satisfaction ratings for live chat interactions are at their highest between 2 pm and 5 pm with 80% of positive reactions coming in during this period.
Live Chat is the Quickest Method of Communication
According to a SuperOffice report, live chat boasts the quickest response time, even at its slowest. For example, the fastest recorded response time was seven seconds, and the slowest was nine minutes. So, even at its slowest, live chat still offers a quick response in the view of most customers.
Live Chat is Older than Expected
Though it seems like a relatively recent invention, live chat has existed since 1973 with the invention of the Talkomatic. Built at the University of Illinois, the computer allowed up to five people to chat at once. While the device’s capabilities are primitive compared to modern apps, it set the groundwork for what we use today.
Live Chat Statistics for What it Can do for Your Business
Live Chat Allows for a Strong First Impression
Like the phone before the advent of recorded message systems, live chat gives the customer the satisfaction of talking with a real person. This interaction allows the company to establish a positive first impression on the customer.
Helps You Understand Your Customers
Within two years of implementing live chat, 44% of businesses have claimed to understand their customers’ needs and wants better.
A study by the AMA concluded that live chat could be useful throughout the customer journey when used effectively. The study showed that marketing awareness improved as much as 29%, while early-stage sale development and post-sale customer service increased by 32% and 39%, respectively. This not only retained customers and ensured greater satisfaction, but it also increased total revenue.
Improves Annual Customer Care Costs
A study by the Aberdeen Group found that live chat improved customer care’s annual cost by 2.6 times the average. The report also found that customer satisfaction increased by 34% due to customers’ ability to multitask while engaged in live chat.
Live Chat Statistics that Prove it can Lead to Sales
Up to 38% percent of consumers will make a purchase following a positive interaction through live chat. Conversely, 57% of consumers will abandon a purchase if their experience with live chat was negative. Lastly, 77% of consumers will develop a favorable opinion of the business if left satisfied.
Chats Help Save Money
An estimated 265 billion customer requests are recorded each year, with 1.3 trillion spent to address these requests. According to IBM, automated and live chats can cut costs by up to 30%.
Provides More Satisfying Results
Recent research from Comm100 suggests that customers are generally more satisfied with their live chat experience over other forms of communications with 82% customer satisfaction. This is compared to 61% and 44% satisfaction for email and phone interactions, respectively.
Chatbots Gather Valuable Information
Through the use of chatbots, a company can gather valuable data for analysis. There has been a steady growth in chatbot adoption with reports estimating 80% of businesses will deploy custom chatbots this year.
Live Chat Statistics that Prove that Chat Gets Results
Not only does live chat help retain customers and save money, but it also increases revenue. 30% of businesses noticed a 5-10% increase in revenue within a year of adopting live chat. As well, 48% of companies saw that revenue per hour increases at a rate of 48% alongside a conversion rate increase of 40%.
What Consumers Say – Live Chat Statistics
Millennials Prefer Live Chat
According to ICMI, the Millennial generation is 20% more likely to use live chat for customer service than Baby Boomers. Also, Millennials have proven more tech-savvy and more willing to use the latest technology.
Nearly Two-Thirds of Americans Prefer Live Chat
A report from Talk Business revealed that while 39% of Americans still prefer to use the phone for customer service, 68% favor using live chat over guided support and FAQs.
People Prefer Live Chat
As technology progresses, people are seeking more convenient and quicker methods of communication. Live chat has proven to be the fastest form of B2C communication, overtaking email, and social media. According to eDigital’s Customer Service Benchmark survey, an estimated 73% of customers prefer live chat over other forms of communications due to the quick turnaround involved.
Slow Response Time Loses Customers
Forrester’s Raising the bar report found that 1 in 5 customers will cancel a service or stop using a product if customer service responses are too slow.
A recent benchmark survey from SuperOffice found that 62% of companies fail to respond to customer service emails, 90% never acknowledge the email has been received while a staggering 97% never send a follow-up email. The same survey found that the average customer service request took 12 hours and 10 minutes to complete, with only 20% of companies answering the question in the first reply.
While email and social media have proven slow, live chat is much faster with answers to a customer’s question arriving within an average of two minutes.
Immediate Customer Service is Highly Valuable
According to Hubspot, 90% of online consumers value quick results when using live chat for customer service. To clarify, 60% of those surveyed view quick results as under ten minutes.
Quality Experience Over Price
64% of customers surveyed have stated that positive customer experience is more important than price.
24/7 Service is Valued
More than half of customers value the ability to receive customer service any hour day on any day of the week.
Live Chat Saves Time
Live chats are more convenient than phone calls. Instead of pressing a series of numbers and listening to automated messages, customers can get the answer they’re seeking quickly. This has led to 42% of customers preferring live chat to phone calls.
In-App Chat is an invaluable tool for connecting with our friends, colleagues, and customers, integrating chatbots, or even incorporating chatops. It allows for a quicker yet more personalized mode of addressing issues and relaying information. Not only can it considerably shorten the time between a question being asked and answered, but it can also save money, increase revenue, and ensure customer satisfaction. This is a powerful tool that every business with an online presence should take advantage of.
Now that you know the facts, are you ready to get started, but not quite sure about a full membership? Reach out to us to explore your options.