The Financial Impact Live Chat Support Has on Revenue for Small Businesses

You’ve probably experienced live chat messaging on a website. A small box will pop-up, letting you know that a customer service representative on the other end is available to answer any questions you may have. It is a convenient and technologically-savvy way to offer immediate customer support.

As a small business owner, you might be wondering, how can I utilize live chat support in order to increase revenue? Some business owners have concerns that live chat installation will cost them too much, or that they won’t have enough staff members to manage this platform.

It is in fact the opposite; live chat features can help small businesses increase sales, save money and better-serve their clientele. Live chat enables business owners to immediately interact with buyers, before they get distracted and take their business elsewhere. In this post, we’ll explain why live chat software is worth the investment, and explain why it can be instrumental in boosting your small business’s revenue.

Live Chat Support

1. It offers immediate support – Perhaps a potential client is visiting your business’s website, but is on the fence about whether or not they’d like to purchase your items or services. By having a customer service representative available via live chat, they’ll be able to offer insights or solutions as soon as that prospective buyer visits your site. Instead of this individual getting frustrated and giving up on your business, they’ll have access to your trained customer service employee. In fact, per recent statistics, live chat has been found to lessen ‘sales cart abandonment’ by up to 30 percent!

In an instant, you could lose a potential client if they don’t receive they answers they need. Avoid this by installing a live chat feature on your website. Hopefully, you’ll be able to help convert a lead into a loyal patron, instead of losing them due to lack of information.

2. Provide support during peak business hours – When you first start using live chat solutions, it is important to be analytical about your approach. You should see when your business’s website receives the most traffic, and ensure that you have enough representatives available during those time periods.

It might not be possible for you to offer live chat support 24/7. Plus, if you constantly have employees manning the live chat inbox, but no messages are being received, this will be a waste of your business’s valuable resources. Still, some experts argue that your business should have live chat solutions during all hours of the day – but this is something that will depend on the needs of your business and its customer base.

By determining the hours and days that your business’s website receives the most traffic, you’ll be prepared to respond to these inquiries. In addition, make sure that you have alternative customer service options for users who visit your website when live chat support isn’t available, so that you can still assist these visitors.

3. Cut back on more expensive customer service programs – If you’re already paying for other customer service software or phone services, you might be able to decrease the bills that you’re currently paying for these options. By putting primary focus on your live chat feature, you may find that patrons don’t need to contact your business through other customer support platforms. Adding live chat to your website might not only help your business increase sales, but it might also help you save money in other areas.

Another cost-benefit of live chat support is that representatives can tend to numerous customer messages at once. The chat format allows them to multi-task, and interact with more customers than they would be able to on the phone or in-person. Of course, in order to save money in this way, you will need to verify that your employees have received proper customer service training and have the necessary traits to be a good customer service agent. If they can handle live chat messaging, then you’ll be able to cut back on hiring costs.

4. Reduce future follow ups – Maybe a customer is experiencing an issue, and they can’t seem to find the answer elsewhere on your website. By offering live chat support, you can quickly and efficiently answer all their questions. This will ensure that they are satisfied with your business, and might help you cut-down on future issues like cold leads and churn (for recurring revenue business models). If a customer can ask numerous questions that they have all at once, they won’t need to follow up with your business later-on. This saves your staff time that they can put towards other tasks, and will cut down on other customer service expenses.

5. Potential to make additional sales – Once a customer has contacted you via live chat, it may be a good opportunity to start a larger conversation with them. Of course, you should first answer their questions and guarantee that you’ve provided them with the correct solution. If they are still interested in learning about your business, you may be able to direct them towards other options that might be a good fit for them. In this quick format, you’re able to potentially score another sale for your small business that you otherwise might not have been able to complete.

6. It helps you stand out against competitors – If a potential buyer is between you and a competitor, but your business has live chat options, it is more likely that you’ll receive the sale. In fact, research has proven that 77 percent of patrons won’t make a purchase if the business’s website doesn’t include live chat support. Therefore, not investing in live chat could make or break your business’s sales! If you’re currently losing sales to businesses with live chat support, this could be a quick fix to your problem.

Now that you’ve read up on the importance of live chat support and how it can help your business grow, it’s time to start searching for the right vendor for you. Check out these options, so that you can start generating more sales. If your business is already utilizing live chat support, let us know in the comment section below how you’ve been able to earn additional sales.


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