The arrival of the internet ushered in a golden age of entrepreneurship. Businesses can now be started for a fraction of the cost of their brick and mortar counterparts and have access to a customer base on a truly global scale. This, however, has resulted in an extremely crowded and competitive marketplace. In a tough businesses environment such as this, how can your company rise above the competition?

One highly effective, yet surprisingly undervalued way in which this can be achieved is by offering outstanding customer service. Great customer service should be at the core of any good business, however, in today’s fast-paced, on-demand digital world, it has sadly become an afterthought for many companies.

Increase Sales And Cut Costs

Lack of physical interaction with customers, or being at the mercy of email were once valid excuses, however, this is no longer the case. The rise of Live Chat capabilities has revolutionised how online businesses can engage and interact with their customer base. A recent study indicated that over 60% of visitors would be more inclined to make a purchase from a website offering Live Chat capabilities, highlighting the value consumers place on instantaneous support.

Live Chat support is proven to increase sales through added trust factor for website visitors and instant problem resolution, however, it can also help to cut operational costs considerably. Money saved is money earned, and by implementing live support, you can eliminate the requirement for a dedicated customer service team. With models such as this, employees are only required to engage in support roles as and when issues arise, freeing them up to carry out other tasks when not needed in this capacity.

Lead Retention

A recent market study concluded that over 50% of consumers believe Live Chat support is an essential feature of any website. While another revealed that 71% of consumers prefer Live Chat over other methods of customer service such as email, phone, and SMS, primarily for reasons of speed and convenience.

A successfully implemented Live Chat support service can result in dramatic increases in customer retention ratios. This is because quick and effective troubleshooting of user problems significantly increases the likelihood of a purchase being made. When robust live support is not in place, however, website visitors are more likely to leave prior to making a purchase due to frustration or time constraints.

Rise Above The Competition

With as few as 10% of websites operating any form of Live Chat support function, there is a real opportunity for entrepreneurs to distance themselves from their competition with a proven and relatively untapped resource.

The Takeaway Lesson

The numerous advantages of Live Chat customer service are supported by a significant amount of evidence, and in the years to come you should expect it to become a feature that will be offered in abundance throughout the online marketing realm. The takeaway lesson here is this: these kinds of opportunities are rare in the business world, and entrepreneurs should capitalise on this while Live Chat support technology is still in its infancy.