6 Ways Live Chat Software Can Reduce Operating Costs of Support Teams
Customer support teams play a highly crucial role in any business. They are the front liners of your company, actively representing you in pre-sales and after-sales. People judge a brand, service, and overall reputation majorly through their customer service, so it’s not news that you need to ramp up your customer support.
But that doesn’t necessarily mean you have to spend more money running and growing your support team. In fact, there are many ways to reduce operating costs, including adding live chat software to your operations.
- What is live chat software?
- 6 Ways Live Chat Software Can Reduce Support Costs
- How do I choose a live chat software?
What is live chat software?
So what is live chat software and what can it do? This tool enables real-time communication between customers and your support teams via chat. It falls under the category of customer support software and allows customers to get answers to their questions or resolve their issues in real-time, without having to wait on hold in a phone call or send an email.
Live chat software seamlessly connects to websites and web applications so your customers can access it through a chat widget. Some typical features of chat software include:
- Automatic messaging
- Real-time messaging
- Message history
- Chat transferring and rerouting
- Net promoter score and customer feedback
- Agent time trackers
- Automation, such as chatbots
By providing customers with a convenient and efficient way to get help, live chat software can improve customer satisfaction and reduce operating costs for support teams. In this age of digital customer service, live chat software has become a norm and need.
By the end of 2023, 85% of businesses are expected to provide some form of live chat support. Live chat software is a valuable tool that can help support teams to operate more efficiently and reduce their operating costs. In this blog, we will explore six ways in which live chat software can help support teams save money, increase productivity and improve customer satisfaction.
6 Ways Live Chat Software Can Reduce Support Costs
So what can live chat software do for your business? For one, it can significantly reduce your customer support costs. Here are several key ways that customer chat software achieves this.
1. Increased Productivity
Live chat software can significantly increase the productivity of support teams by enabling real-time communication — support teams can then resolve customer inquiries and complaints faster, reducing the time spent on each case.
Additionally, live chat software automates repetitive tasks, freeing up time for support staff to focus on more complex and higher-value tasks.
By increasing productivity, you lower costs such as hiring more agents, overtime pay and time spent on answering common inquiries.
2. Improved Customer Satisfaction
Studies show that 52% of consumers are more likely to remain loyal to a company that offers live chat support. This is because live chat software enables faster resolution times, which positively impacts customer satisfaction. This improves resource allocation, and provides a better customer experience, ultimately leading to reduced operating costs for support teams.
It’s a misconception that companies have to spend more to generate and win new leads or win back lost customers. When you improve customer satisfaction by using a tool like live chat,this is no longer the case.
Customer acquisition and win-back is quicker and easier, which means your organization will spend significantly less.
3. Reduce Labor Costs
Using a live chat service provider will ultimately streamline your processes, leading to reduced overtime pay or staff. No one can deny that some of the biggest operating costs for support teams are agent salaries and benefits. Live chat software can help cut these costs in several ways.
Live chat software enables support teams to handle more inquiries at one time, reducing the need for additional staff. The software's automated features, such as chatbots, and synchronous and asynchronous messaging capabilities allow support teams to resolve customer inquiries more quickly and efficiently, without having to wait on hold or send emails.
This doesn’t mean that chat software will replace your existing staff. It’s a tool designed to make support easier for your agents, and perhaps free up some of their time so they can focus on other parts of your business.
4. Improved Automation
Live chat software will also provide support teams with powerful automation features that will significantly improve their performance and reduce operating costs. Some great automation features include intelligent, self-learning chatbots, smart routing, knowledge bases and FAQs. These features can streamline support operations and help support teams resolve customer inquiries more quickly and efficiently.
Consider how a restaurant can implement live chat software on its website. You can integrate a restaurant software and chat software to give customers fast access to menu items, operation hours, reservations, functions and so on. These automation options will also reduce human error and eliminate any costs attached.
Another important benefit of live chat software is its scalability. As customer demand grows, support teams can quickly and easily scale their operations to meet changing needs. This eliminated the need to reorganize and restructure, which could be time and resource-consuming. This is especially important for businesses that experience seasonal fluctuations or have rapidly growing customer bases.
Live chat software provides support teams with the ability to handle multiple customer inquiries simultaneously, allowing them to resolve more inquiries in less time. The software's intelligent routing system can also automatically distribute inquiries to the appropriate team member based on availability and skill set, improving overall response times and reducing wait times.
6. Better Feedback Management
Customer feedback is crucial to a company’s marketing, reputation management, and operations. They provide you with insight into areas of improvement and areas you can save money and time too. Another study showed that 79% of customers say their online feedback is ignored.
Let’s say your customers don’t like your onboarding process because it’s too long and you’re spending a lot of money to keep it tedious. With feedback management, you can understand what parts of the onboarding process your clients find unnecessary and change or remove them. Just some examples of costs you can save include writing unnecessary tutorials, providing unnecessary features and more.
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How do I choose a live chat software?
When choosing live chat software, you should consider your specific needs and goals. The best live chat for your business will depend on several factors. Some of them include:
- Business size. Your company size will impact your support requirements and the type of live chat software that's best for your website. For small businesses, basic live chat software may be sufficient, while larger enterprises may require more advanced features.
- Customer base: Your customer base will also impact your support requirements. Is your company a large organization with a geographically dispersed customer base? Or are your customers located in a specific location? What languages do you need to support? These are just some considerations.
- Support requirements: Your support requirements will depend on your business goals and the type of support you need to provide. However, one thing is certain: live chat software can help streamline your business processes and improve your overall results. Whether you're looking to reduce operating costs, improve customer satisfaction, or simply provide a better support experience, live chat software is a valuable investment that can deliver real results.
Live chat helps streamline your business processes
Live chat software can significantly reduce the operating costs of support teams by automating repetitive tasks, prioritizing inquiries, improving automation and providing scalability. These powerful features help support teams provide a better customer experience, resolve customer inquiries more quickly and efficiently, and achieve better overall results.
In today's competitive business environment, the ability to provide fast, efficient support is critical to success. By choosing the best live chat software for your website, you can improve your support operations and achieve better overall results, while also providing your customers with the support they need to succeed.