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Five Reasons Live Chat Is a Cash Factory

- 16 Comments
Sometimes the connection between an action and a result can be foggy.

Businesses often make investments in new tech and software-based more on hope than a real understanding of the benefits. Right now, business models are adopting live chat to increase customer satisfaction and income.
Yet, the reasons the best live chat software works so well can be unclear.

Here are five ways live chat turns customer service into a money production line.

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Fast Response

In the e-commerce world, patience is for losers. Customers want their answers, and they want them now!
Live chat delivers in record time. It seems like we’ve all been on hold with customer service for a half hour or waited a day for an emailed answer.
Then comes live chat with its average response time of just 23 seconds!
And it doesn’t stop there. Most chat conversations are just 6-12 minutes long.

Customer Preferences

We all want to make our customers happy, right?
Then we should all focus on live chat. 79% of customers say they want live chat because it is immediate and that it solves problems faster than all other options.
Furthermore, among voice, forums, email, Facebook, and Twitter, live chat comes out on top of the customer satisfaction mountain with a 92% approval rating.
In addition, live chat may be immediate, but it is not urgent. Over half of customers prefer it because it allows them to multitask. Over 20% of consumers even say it allows them to shop while at work.

Software Help

Online businesses can excuse themselves from live chat no longer. Today, a wide variety of chat-enabling software options are available. LivePerson and JivoSite have over 300,000 subscriptions each. LiveChat, Olark, and Intercom are all hot on their heels with over 150,000 subscriptions each.

Optional packages give businesses the power to acquire customer information, proactively offer assistance – even see what the customer is writing before the message is sent.

Conversion Rates

Great service sells. Live chat is a proven winner when it comes to conversion.

Over half of customers state they are more likely to buy when they use live chat. In addition, 29% say they are more likely to purchase items when live chat is offered proactively, even if they don’t use it.

Overall, those who take advantage of live chat convert three to five times as often as an average customer. That success also transfers to business-to-business commerce, where chat boosts conversions by over 20%.

Return of Investment

The numbers are certainly impressive, but is live chat worth the investment of time and money?

Studies demonstrate it is. The return on investment from typical live chat software hovers around 300%.

It’s easy to see why. Chat costs 400% less than phone support. And it reduces call volumes by a reported 40%. Additionally, the average chat employee can do the work of 15 email support reps.

Also, live chat grows order sizes. Carts increase 10% for customers who utilize live chat. The average chatting visitor brings four-and-a-half times the value of a non-chatter.

Live chat is boosting the revenues of businesses across the spectrum.

Why not put this cash factory to work for you?

Guest Author

Josh Wardini | Community Manager at  Webmastersjury | Location Incapable Internet Enthusiast | Re-Designer of the World Around | Bodybuilder trapped in a Computer Geeks Body. 

From College Student to Corporate CEO

- 46 Comments
The student is a person with big ambitions, great aims, and an unbelievable will to study. He is determined to achieve set goals and knows perfectly how to do it. College period gives the hints on how to talk with people. It is important to know how to work with people and influence them with your own ideas. It is a good basis for future growing and high time to decide what you want to do with your life after school. You have numerous options but are you ambitious enough to think about becoming a CEO?

What is the CEO? He or she is practically the main person in any organization. CEO leads the team and has information about everything to be conducted around. The duty is not that easy but the successful business demands many contributions. One of them is being hard working. You need to understand what kind of business you want to be in charge of. It might be difficult to decide right away but you have a lot of time on your hands while studying. Even more so, you have possibilities to try and fail and try again as you have nothing to lose.

1. To begin with, search for the industries, which you think to be perfect for your own business. Read as much information as the resources allow. Read at first the general articles; those recommended by Forbes. Take time to investigate various industries and explore the best options suitable for you. Do a list of pros and cons, whenever you have a difficult time in choosing among industries.

2. Try to talk to CEOs from fields you are interested in. The more experienced they are the better it is for you. They may be slightly arrogant, especially in big companies. However, more often than not, successful people are eager to share their knowledge and help you to build your fortune. Especially, if you are bright, talented and hardworking. Start from small companies. They can be interested in the perspective and look forward to working with students. What may support you is the net resource LinkedIn. Use it as a map to look for the opportunities.

3. Build a wide network of connections. To do so, you will have to make the acquaintances with people, who have a wide range of contacts. Where to find them? – The ideal places would be educational seminars and various lectures. These connections can quite helpful for your future career.

4. Do not consider your 4-years studying to be a vacation. It is the time to spend with usefulness. You have wonderful chances, beginning with theoretical knowledge to be gained throughout the college years. One financial analytic once mentioned: “It has been a focus for colleges to really get behind their entrepreneurs”. Does not it sound great? Mark other people’s mistakes in your own practical knowledge luggage. You will be able to use it for not only the future career but also your personal life.

5. Finally, some students choose another way. They find it more comfortable to get a job in the desired company and then make career step-by-step. Even a small amount of work to be done in perspective is a real way out. The internship is a good choice. You can see how a corporate machine works from various perspectives. Only then, you can have a fully informed decision whether this business will suit you the best.

To make a long story short, probably you were not an excellent student in college. Maybe your grades are not perfect and once you have even said: “Write an essay for me”. Being a CEO is a challenging work – it is hard and demanding, and it takes up a significant part of your life. However, if you are a responsible person with a highly developed logic and good practical qualities, you will achieve the success you deserve. Believe in yourself and make the world go round the way you need it.

About Author

This guest post was written by Sandra Hayward, a freelance writer from Los Angeles, and a partner blogger at http://payforessays.blogspot.com/