If your business has already implemented live chat, then it’s important to know what, how, and when communication is taking place between your agents and customers. It could be crucial to the success of your business.
Live chat agents communicate with customers in real-time, providing solutions to their queries, and even guiding them towards the best products to suit their needs. They then take feedback about products and services from customers so that they can be improved.
So are your live chat agents performing well or not?
Key performance indicators can help you measure this. At Acquire, we have designed some live chat performance metrics and standard criteria to do just that.
Here are eight useful metrics for measuring live chat agent performance.
1. Number of chats
An increase in the number of chats per agent might seem a good thing, but what if this increase is the result of inconvenience experienced by your customers? For example, they may be having difficulty finding out information about your business, product or services.
According to the latest industry reports, visit to chat ratios vary depending on the volume of website visits. Visit to chat ratios hover at around 9% when a business receives 5,000 daily website visits. That works out at 450 live chat sessions for 5,000 visits. The same ratio goes down to approx 0.35% when website visits are around 500K per day, giving 1700 live chat requests for those 500,000 visits.
The current standard guideline for live chats is 274 chats per agent per month.
Apart from successful chats, live chat features also track missed chat rate and the number of offline requests. These data show the best times to be online so you can give your website visitors the support they need.
2. Product knowledge
One way to measure live chat performance is by looking at whether your service reps have all the product information required while communicating with customers.
Providing your live chat agents with the proper training is crucial to ensure they have the necessary product knowledge. This allows them to better motivate customers to use your services and increases the chances of converting customers into buyers.
Insight into whether your product is being communicated properly or not can be found by checking chat history.
3. Response time
Minimizing response time is the biggest challenge for businesses nowadays. Technology certainly plays a vital role in this, and live chat support in particular represents one of the latest additions to that trend.
Response times can vary depending on the specific communication channel being used. The leader of the pack when it comes to speed though is undoubtedly live chat. According to the latest industry reports, it takes less than 48 seconds for companies to pick up on a live chat request after customer initiation. How long do your agents take? Measuring is the only way to find out.
Used correctly, live chat allows agents to engage with customers immediately, boosting engagement and encouraging loyalty. Quick response times also lead to lower abandonment rates and increased customer satisfaction.
Long response times could mean either your live chat agent isn’t doing their job properly, or they are being forced to handle too many chats and aren’t able to respond quickly enough.
4. Amount of sales (or conversion rate)
According to the Forrester research, 44% online consumers say that having questions answered by a live person within the purchasing process is one of the most important features a website can offer.
Apart from being an effective support system, live chat tools are also great for creating sales. If you’re using a live chat system to generate leads, then it’s easy to see whether or not this is working by checking on live chat metrics. Chances are, your sales increase as the number of accepted chats increases. Lower conversion rates might be a reflection of an ineffective support team. If that’s the case, it might indicate a need to invest time in training your support team.
5. Customer feedback rating or chat satisfaction ratio
“A satisfied customer is the best strategy of all.” – Michael LeBoeuf
According to Harris Interactive, “75% of customers believe it takes too long to reach a live agent. If you offer some sort of live service (phone or live chat), it’s paramount that you get customers to a live person in 2 minutes or less. Otherwise, it creates frustration that can lead to a seriously unhappy customer.”
Given that the more happy customers you have, the more sales you get in the long-run, unhappy customer are best avoided. Through efficient live video and voice chat systems, you can gather the feedback you need to effectively support your teams. Chats can be analyzed retrospectively to see how customers behave, and the efforts made to satisfy them.
Customers sharing their experiences through video and voice chat tools provides invaluable insight. Feedback, whether positive or negative, paints a clearer picture of what needs to be improved and how that can be done. In the end, this ensures you can offer better products and services.
6. Website visitors to chats
This metric helps measure engagement levels between your customers and your website. To create even more valuable insights, combine this data with time spent on site. If customers are spending only a little time, and the website visitor to chat ratio is also low, then you may need to make changes to your website to encourage visitors to interact with live chat agents.
If customers are spending a lot of time on site, use the live chat auto trigger feature to initiate conversations with customers, after 10 seconds for example. This will help to increase customer engagement.
7. Average agent availability
How frequently live chat agents are available to clear up any customer doubts, queries, and issues is also a viable way to measure live chat performance. As the frequency of live chat agents’ availability increases, there will likely be a corresponding boost in sales and improved engagement with your customers.
The support team needs to be available at all times to deal with live video and voice call invitations from potential customers, making sure response levels are high. As response rates increase, sales volumes are boosted. But for that to happen, live chat agents have to be available when customers need support.
Live chat tools provide the best ROI for businesses. Live chat lifts conversion rates by at least 20% and average ROI rates from a live chat software tool stack are around 300%. Return on investment (ROI) is crucial for any company wanting to measure their performance effectively.
Always remember, different communication channels have different ROI. This metric often acts as a deciding factor for businesses when determining whether to invest in a channel or not.
Measure to improve
This article details ways to measure live chat agent performance your business can use to keep in touch with the activities of your customer support team more effectively. When employed properly, these methods help your business progress towards success.