Leverage Video Chat Strategy for your Business

What’s the next best thing in the world of contact centers and customer service? ‘VIDEO CHAT’ - a technological innovation that has brought the companies and customers closer. Many businesses are using the benefits of live video chats, which are becoming an innovative competitive differentiator.

Customers receive a superior personalized experience. As per the recent survey - 1 out of 5 largest global businesses will induce video-based chat this year for customer-facing interactions. The numbers are expected to double within the next three years. The solution will provide customers with a rich feeling with highly collaborative communication in real-time.

Live Video Chat Exploded 

Video is a powerful mode of communication, serving the need for in-person interactions, especially during a pandemic. The need for innovation and interaction began after the pandemic - around 58% of businesses' are using video conferencing for their everyday operations. 

Video conferencing market is expected to reach USD13.82 billion in 2023, whereas by 2024, it is believed to cross the 20 billion mark. Companies understand the positives of video in customer service. A trend continues to expand, adding a human touch to online business interactions and sales, just like video chat.

Video Chat Trend

Do you know? Google searches related to the word ‘video chat’ skyrocketed globally in mid-March 2020. With the struggle of surviving, people were looking for a solution to stay connected with customers even though trapped indoors.

“Necessity is the mother of invention” is a well-said proverb.

Additionally, the query “games to play over video chat” witnessed a +700% increase last year, as per Google Trends. A sudden remote workforce made video more popular and fast. Many platforms were and still are working to meet the increased demand.

Digital transformation is on the rise retailers, dealerships, and other businesses are incorporating fundamentals of video as communication. But, the question arises, how can you use video chat more fluently, or, can this replace the experience of working together on-site.

Optimize Customer Experience & Generate Leads

A satisfied customer transforms business growth in the competitive environment. Live video chat is an efficient and real-time solution - needs a crucial strategy that adds to the business's bottom line. For optimization of customer experience and converting sales to lead, follow these simple steps:-

Evaluate Business Needs

Understand how live video chat fits into overall business strategy, set a benchmark based on existing channels. Also, look for new channels that would supplement the present effort. If in doubt, ask the following questions for evaluation -
 

• How will chats lower the costs through channel deflection?
• How can customer satisfaction be boosted?
• How will it improve lead generation methods and help in maintaining strong sales?

Find Relevant Live Video Chat Solution

After careful evaluation, select the best platform that helps in establishing and sustaining customer connections. Any type of software failure will affect user negatively, so before choosing, ask these questions:-
 

• What will be best - hosting a platform or cloud-based solution?
• What type of platform to use - reactive or proactive?
• What kind of assistance will the platform provide, ‘passive’ or 'active’?

Support Web Self-Service

Customers try to solve problems on their own first - keep an eye and support them when needed. Strike for the right balance and offer chat support intelligently. Keep in mind acquisition and sales as these are trigger points in lead conversion.

Live Video Chat Benefits

Nowadays, the business environment is crowded with digital innovation. The focus is expanded, following the existence of so many social media platforms. The value of video chat is more than just conferencing. It helps businesses to generate required revenue in the most creative way and how intricately it has benefited the organization.
 

• Video chat provides an opportunity to connect with customers in a real-time and personalized way. Faster resolution increases customers' trust and emphasizes loyalty.
• Customer service is more enhanced and improved with an instant and clear understanding of problems/challenges. It increases customer satisfaction rates.
• Personalization through video chat builds better customer relationships and loyalty. Escalating the lifetime value of a customer.
• Sales can be fostered with support agents' efforts, developing an environment of trust and credibility. The screen-sharing tool helps in sharing what exactly customers are browsing.
• The profitability increases with first call resolution numbers and a reduction in average call handling times. Businesses get aligned with customer expectations as video chat reduces abandonment rates.

Video Call for Your Business

Video is becoming a professional tool for businesses - a new step in customer service. A study by Pew Research Center revealed that more than 21% of mobile phone users have video calling or chat services. Communication platform Skype handles 300 million active users per month for personal and business meetings.

The major companies are incorporating video into their business and heading with the trends. Gartner predicts that by 2025, 80% of customer survival organizations will have abandoned native mobile apps in favor of messaging, a better customer experience. Workers globally spend an average of 63% of their meeting time in-person in 2019, but the numbers declined to 33% by 2021 as more meetings took place over audio and video-enabled solutions.

Gartner further predicts the shift from in-person meetings is expected to continue, and by 20124, there will be a fall from 60% to 25%, propelled by remote work and evolving workforce demographics and tools.

Early Adopters

Many major companies have become early adopters of live video chat and support, including Amazon, Bank of America, American Express, and Audi. Video chat holds various capabilities, which customers approve of. As per the report of a UK-based shoe retailer - video chat for business has resulted in a 400% greater conversion rate and 10% greater order value compared to text-based chat interactions.

The service allows customers to interact with agents while they browse simultaneously for speedy resolution. Implement the video solution and build a strong relationship with customers online. It will increase businesses’ conversion rates and will keep them ahead of the competition. It is the best time to explore the platform and take customer experience to the next level.

Video is Forever

After the long fight with deadly coronavirus, businesses have understood the need to work with safety. Video conferencing and video chat has proven to be a productive and ultimate success during remote working. However, it requires the right online video and chats solution. Customers will make another purchase if they have convenient checkouts. 

Live video chat is a solution for all small and medium-scale businesses. Using different modes of applications, vendors can communicate through video to showcase the latest designs and trendy products. Follow the trend and attract more and more customers for future endeavors.