Learn about b2b live chat’s essential metrics and performance indicators to track.
Using a convenient chat widget on a company’s website has become an increasingly popular way of communication in the B2C (business-to-client) segment, with more customers preferring it to traditional choices such as phone, email, or social media. According to an LTVplus study, 79% of organizations that provide live chat see favorable impacts on sales, income, and customer loyalty. Having a live chat service on a website can be quite beneficial for business-to-business companies as well, and it’s now easier than ever to set up free live chat for B2B.
However, it’s crucial to ensure that you’re leveraging your software to its full potential and maximizing B2B live chat benefits. One way to do this is by measuring key performance indicators (KPIs), which helps companies to continually improve their live chat function. In light of this, we’ve compiled a list of 7 essential live chat metrics that you should regularly measure.
Before diving into the metrics of free live chat for B2B, let’s explore the advantages its adoption provides to a business, from increased conversion to better customer satisfaction.
Let’s take a look at the B2B live chat metrics that can accurately measure employees’ work quality and be used for setting up key performance indicators.
The total volume of incoming chats over a particular time frame is a great metric to understand how many chats you have overall and what is the most prevalent trend: does their number gradually increase, decrease, or remain stable? At the same time, reviewing to what category the majority of incoming chats belong helps to understand what issues and questions are most popular and require extra attention.
The chats per day metric breaks down the total volume number of chats into how many conversations via chat are started each day. The dynamics of such a number within a business day or week help to properly manage staffing volumes and understand when your customers or prospects are most active.
This figure is the number of chat inquiries resolved by the team. An informative metric as well: a large total volume of chats with only a tiny percentage of them marked as finished chats suggests there’s much to be improved in the live chat support process, while the opposite situation can be indicative of employees doing their work well.
The metric includes incoming inquiries via live chat that have not been responded to by the team. Keep an eye on this indicator, both on the current figure (which should be as close to zero as possible) and how it changes with time — an increasing number of unresponded chats can mean understaffing or simply poorly adjusted notifications settings.
Umnico omnichannel messaging platform helps to overcome both issues since it allows to process incoming inquiries from live chat, messaging apps and social media in a single interface, which helps employees to work faster and process more chats, and the platform also has customizable notifications, from desktop sounds to messages to an employee email or Telegram, which ensure not a single chat is going to be missed.
Conversion rate can refer to two separate B2B live chat metrics. The first one means the number of website visits that resulted in live chat interactions, and the second one means the number of sales that resulted from them, e.g. sales conversion.
To identify the first metric, website-to-chat conversion, compare the number of unique visitors to a website with the number of those who started a chat session or responded to an outreach from a chatbot or a member of a team.
FRT is focused on measuring how long it takes your chat agents to respond to a customer’s initial message. The FRT metric is tightly linked to customer satisfaction. A fast response tells your customers that you value their time. On the other hand, keeping them waiting for a long time is likely to hurt your reputation.
An increasing FRT and a growing total number of chats may signal that you need more agents to handle customer inquiries, while daily fluctuation of the figure indicates that some adjustments of employees’ schedule is required to reinforce the busiest hours.
CSAT is one of the most popular metrics that measure how much a product or service meets or surpasses your customer’s expectations. A short customer satisfaction survey at the end of the live chat session is the best way to accumulate data for this metric. From simple sad and happy emojis to an elaborate questionnaire, a live chat survey at the end of a conversation can come in multiple formats. Choose the one that works best for you and strikes a sweet spot between being informative and too long, forcing customers to quit without finishing.
If measuring the metrics described above resulted in less-than-desirable figures, there is no reason for despair — in this part of the article, we provide a collection of tips on how to improve live chat communication.
In an age of a highly saturated digital landscape of offers and companies competing for attention, people value personalization more than ever. It’s a well-known fact that the more customized your message is, the more likely it is to capture your prospect’s attention. Here, live chat presents many opportunities to make communication feel more personal. From an ability to change the appearance of a chat window, to personalized welcome messages and specific post-chat surveys. It is important to stress the importance of providing as personalized solutions to problems as possible, shying away from generic responses, and an answer ‘I don’t know’ is also a big no-no.
A persistent low customer satisfaction score serves as a warning that something is wrong with your business. Before creating an action plan, take the time to understand the problem entirely. Look at contact volumes, peak traffic hours, and recent business growth. Your chat staff may be doing their best to help customers but simply lack the resources to serve customers effectively.
Studying chat transcripts from successful interactions is an excellent way to improve your live chat performance. Look at how your high-performing employees are addressing common customer pain points. Once you identify these best practices, share them with the rest of your team.
In today’s fast-paced business environment, customers expect immediate responses to their queries and concerns. For B2B companies, maintaining a short response time in live chat is crucial. When a customer has a question about a product or service, being able to provide an immediate response can help to close the sale. This is especially true in B2B sales, where businesses are often making significant investments and require detailed information to make informed purchasing decisions.
First response time (FRT) is the most crucial aspect of overall response time. It is advisable to share the FRP metrics of various employees within the team to promote healthy competition, with agents who maintain the shortest response time being eligible for additional incentives.
Obviously, the majority of inquiries coming via live chat for a B2B business would have many similarities in subjects. To make the communication process more effective, employ various automation solutions, such as ready-made scripts and chatbots for frequently asked questions, which will help your chat team handle objections, answer frequently asked questions, and more effectively nurture leads. However, since everyone phrases the same question differently, it is advisable to program questions with several answers — by answering such Q&As, a live chat can guide a customer towards an accurate response to their inquiry without any human interaction.
As a communication tool, live chat is favored by customers, however, it is not the single effective tool for communication in B2B. With high open rates and growing popularity, instant messengers, and social media are also great ways to connect with prospects and convert them into customers, and an active presence there is a must for a company to beat the competition.
Live chat is becoming a crucial tool for B2B businesses looking to enhance customer service and boost sales. Thanks to its real-time communication capabilities and tailored approach, it enables businesses to interact with their consumers on a more personal level, rapidly answer their complaints, and provide them with a better overall experience. Live chat may also save expenses, increase conversion rates, and help businesses generate more leads. The free live chat software by Umnico provides a highly customizable widget with extensive features that allow a company to seamlessly integrate live chat into the existing customer communication workflow and connect it with other communication channels for a truly omnichannel experience. A free trial, available to all new users, makes it easy to test the platform commitment-free.
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