If your business has already implemented live chat, then it is important to know what, how and when the communication between agent and customers is taking place, because it is crucial to the success of your business
Live chat agent communicates with the customer in real-time and provides solutions to their queries and even guide them to choose the best product on the basis of their need. They take the feedback about the products and services they are offering after every chat from the customers so that they can improve their services and products.
Now, here the important thing is whether your live chat agents are performing well or not? Are they giving their 100% effort?
Key performance indicators are performance indicators to measure the success of the company and how the agent is performing. At Acquire, we have designed some live chat performance metrics and standard criteria which can help to measure the performance of live chat agent.
Here are top seven metrics to measure live chat agent performance
1. Number of Chats metrics
The increase in a number of chats per agent might seem a good thing to happen but it is also crucial to monitor if the surge or increase in a number of chats is the result of inconvenience experienced by the customers in the process of finding out necessary information about your business, product or services.
So, what’s the standard value?
According to the latest industry reports, chat-to-visit ratio differs with different volumes of website visits. Now, the chat-to-visit ratio roams around 9% when a business website receives 5K visits, daily. That’s 450 live chat sessions for 5000 visits. The same ratio goes down to approx 0.35% when the website visits are around 500K, daily. That’s around 1700 live chat requests for 500,000 visits.
If you don’t have any standard data, this rule can be your guideline for building your business teams. The current standard is 274 chats per agents per month.
Apart from successful chats, Live chat feature also tracks missed chat rate and the number of offline requests. These data will help to figure out the best time to be online for your website visitors and give them the support they need.
2. Knowledge of a product
A way to measure the performance of the live chat software is to find out that, during the process of communicating with customers or potential customers, your service reps have all the information and details of the product or service.
Give proper training to the live chat agent so that they can get proper knowledge about the products to motivate the customers to use the services and thus this will increase the probability that the customers get converted into buyers.
It can be easier to track down the flow of knowledge regarding your product or service is being communicated properly or not by checking chat history.
3. Know the response time
Quick response is old school. Nowadays, minimizing the response time is the biggest challenge for the existing and upcoming businesses. Undoubtedly, technology is slashing down the amount of the response time too. Yes. Live chat support is the latest addition in this niche.
Response time is different for communication channels. But, the best of the lot is live chat tools. According to the latest industry reports, it took less than 48 seconds for the companies to pick up a live chat request when a customer initiated it. Does your agent take less than that? Measure and measure again.
If live chat is used properly, it allows engaging with the customers immediately and thus it helps in retaining more customers. Customers get the response or solution immediately and thus this boosts customer engagement and loyalty.
Long response time means your live chat agent is not doing their job properly or they are handling too many concurrent chats and can’t be fast enough in response. Quick response time will lower abandon rates and increases customer satisfaction.
4. How many sales done (or what is conversion rate?)
According to the Forrester research, “44% online consumers say that having questions answered by a live person within a purchasing process is one of the most important features a website can offer.
Apart from being an effective support system, the live chat tools are also the sales creation. If you are using live chat system as a marketing strategy to generate leads? Then it will be easy to check whether the efforts of company and agents are working or not on the basis of live chat metrics result. The chances of sales increases with an increase in the number of accepted chats through the live chat tools, the lower conversion might be a reflection of an unqualified or not effective support team. It might be a sign to invest some time in the training of 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 customer believes it takes too long to reach the 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.”
It is simple to figure out that the more satisfied and happy customers will lead to more sales in the long duration of time. Through efficient live video and voice chat system, the feedback can be acquired by the support team effectively. They can look back at the chat at the earlier time to find out how the customer behaves and make efforts to satisfy them as much as possible.
As the customers share their experience with you, it will help you a lot in finding out the current scenario of the performance of your business with help of live video and voice chat tools. Feedback from the customers or users can help you in learning, what is to be improved and how it is to be done to ensure your product and services are better.
The type of feedback, positive or negative, will give you a clear picture of how exactly everything is being carried out in your business and how effective is the agent for live chat tool system for your company or business. The positive feedback is good news for your team and the negative feedback is a warning that something is not up to the mark. Simply, analyses and rectify.
6. Website Visitors to Chats
This live chat performance metrics will help you to measure the engagement level between customers and your website. To get valuable insights, join this data with time spent on the website. If customers are spending less time and the website visitors to chats is also low then you may need to make changes in the website. This will help you in making the website more engaging and visitors may interact with the live chat agents.
But if the customers are spending more time then use auto trigger feature of live chat to initiate conversation after 10 seconds with the customers. This will increase the customer engagement with the live chat agent.
7. Average agent availability
How often and frequently is the live chat agent available for live video and voice calls to clear out any doubts, queries, and issues of the customers or potential customer is also a way to measure the performance of the live chat agent. As the frequency of the availability of live chat agent will increase, there will be a boost in sales and more engagement of the customers with your company or business.
It is necessary for the support team to be available all the time to be able to respond to the live video and voice call invitations by the potential customer for offering a quicker responsiveness. There will be a boost in the volume of sales as the rate of responsiveness is increased and it can be possible only if the availability of live chat agent is at the right moment when the customer needs support.
8. What is ROI?
Live chat tools provides the greatest ROI to the businesses. Live chat push conversion rates up by at least 20% and that supports the fact that ROI rate from a live chat software tool stack for any average sales team is around 300%. The return on investment (ROI) is a crucial term used by any company or business to measure the effectiveness of the performance of the business to generate sales and support for customers.
Always remember, different communication channels have different ROI. And, this single metric is the biggest deciding factor for the businesses to determine whether to invest in that particular channel or not.
To sum up
These are the ways to measure the performance of live chat agent that your business can use to monitor the activities of your customer support team more effectively. These are helpful and useful methods of supervising the progress of the business towards success.