Live chat is a great tool for businesses to have real-time conversations with customers and drive revenue. It’s also a great form of customer service as it allows users to quickly contact your business for swift answers.
However, unless you’re efficiently monitoring your live chat, it’s difficult to find out what’s working and what isn’t. Without a clear cut live chat strategy to grow your business, how can you improve it?
To help, we share the six key metrics you should track to measure your live chat performance.
Here are 6 key metrics that you need to measure to understand the effectiveness of your live chat system:
- Number of chats
- First response time
- Chat duration
- Customer happiness
- Website visitors to chats
- Marketing attribution
Number of chats
One key metric for qualifying your live chat performance is the number of chats you receive on a daily, weekly and monthly basis.
For one, this will help you allocate your sales team efficiently to when you’re receiving the most live chat requests. But more importantly, it allows you to get a better understanding of what your users need help with.
By analysing your live chat responses, you may find certain questions cropping up regularly. At that point, it might be worth writing a blog to answer that question to free up your agent’s time. Or, you might find your website is drawing a lot of interest from a particular industry. This can help you adjust your marketing strategy so that you’re attracting the right audience. By understanding the content of your users’ live chat sessions, you can adjust to get more high-quality leads.
First response time
First response time is what it says on the tin. It’s the amount of time your sales agents take to respond to a live chat request.
To start, monitor response time on live chat as a whole. The lower your response time, the more effective the chat will be. Nobody likes being left on read after all.
Then, look at your agent’s response time averages. It could identify a team member who might need extra resources or training to get the most out of the platform.
While we don’t want to shoo users off of the live chat, we do want to resolve their query as quickly as possible. Monitoring average chat length is a good indicator of live chat performance as a whole.
Short chats indicate a good knowledge of product solutions and efficient support, while longer chats could indicate potential for improvement.
Understanding which topics take the longest to resolve is a good way to understand if more resources are needed. Perhaps your sales team would benefit from screenshare explainer videos.
While you might have a low response time, and a huge volume of chats, how satisfied are those users?
A simple post-chat survey will help you to identify the percentage of users who get a satisfactory response.
If you see poor results come streaming in, then you know you need to assess your live chat performance and make changes to improve it. If it’s not working for your users, then it needs an overhaul.
Website visitors to chats
According to LTV Plus, live chat can help increase conversions by 12%. Tracking this metric is beneficial as it means you can convert users into leads by using engagement through personalise messages. Direct chat is a great way to resolve customer queries, and to direct a user to sales.
While live chat is frequently used for customer service, it’s also a great way to kick-start the buyer’s journey. From an awareness perspective, users can use your live chat to get answers and find a solution to the issue they have. Your sales agents could be recommending particular products, or even scheduling sales meetings via live chat.
Just look at how our call tracking software supported Moneypenny. Thanks to our solution, Moneypenny identified they were losing visibility of 20% of leads that came in via phone, meaning their overall CPL was incorrect.
If you’re not tracking the revenue that live chat is helping to convert, then how can you fully justify the spend?
Enter closed-loop marketing attribution.
With this form of marketing attribution, you can close the loop between marketing and sales data. When a user converts into a lead, Ruler Analytics will fire all of the data it’s been harvesting using an anonymous user’s cookie data over to your CRM. Then, at the point of sale, we’ll match the revenue data from your CRM with the user data we harvested. This means you can see any, and every, lead’s customer journey from start to finish.
With Ruler, you can look and see, from a first-click perspective, just how much revenue your live chat platform brings in. What greater proof of ROI could you need?
We can integrate our solution with a range of live chat platforms including ZenDesk, Drift, Intercom, Response IQ and more.
And there you have it.
Live chat is an essential tool whether you’re looking to improve customer service or if you want to speak to potential customers and signpost them to useful products and pages.
Understanding your live chat performance will allow you to identify customer pain points, gain valuable feedback and push your business forward.
By monitoring the metrics listed above, you’ll be able to leverage your live chat platform to make customers happy, and get them started on their buyer’s journey.