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3 Ways for SaaS companies to reduce churn with live chat

Keeping churn rate to an absolute minimum is a priority for businesses in order to achieve and sustain growth. Here’s how a live chat platform can help!

Churn rate is the percentage rate at which customers stop using a company’s product or service. In many cases, the reasons that make customers decide to stop using your product or service are out of your hands. Like they say “it’s not you, it’s me”. But when it’s a matter of customers feeling let down by your service, that’s when you can – and definitely should – do something about it.

For companies that provide software as a service (SaaS), messaging has assumed a pivotal role, and live chat platforms can be a great resource for helping to reduce churn rate. Live chat can not only help at the top of the sales funnel with lead capture, but also help with nurturing and retention by keeping customers connected, building up your users’ loyalty from the moment they engage with you on your website.

Here’s 3 ways you SaaS companies can use a live chat platform to lessen customer churn:

 

1- Re-engage customers with auto messaging

 

One of the most common reasons driving customers to stop using a product is disengagement. While some customers can make a sudden decision to leave your service, what often happens is that they gradually disconnect.

User activity is a key indicator for future problems – customers who aren’t active with your product are most likely losing interest, and they are at risk of slipping away. It’s therefore important to keep an eye on activity, get feedback and keep communication alive.

Talking to your customers is key: it’s the most effective way to keep them interested and engaged. This is where messaging automations play a huge role.

Automation workflows can help you to set timed messages to be delivered to specific people, at the right time, to prevent leads from falling off the radar and customers from losing touch. It’s important to segment your audience and chose the right messages to deliver that can re-engage inactive customers.

When adding links on your emails and messages to your web pages, you can use live chat to prompt auto messages in a personalised way. Greet your customers with a tailored message and invite them to talk to you. Messages like “we missed you!” or “glad to see you back!” can go a long way in showing customers appreciation and help you to re-engage them.

 

2- Integrate live chat into Your SaaS App

 

You will have noticed the numerous websites featuring a little chat bubble stuck in the corner, ready for visitors to reach out if they have a question (yup, there’s one right here too!). But why are there not more chat widgets inside SaaS products?

It’s about time SaaS companies realise the true potential of instant messaging; take customer support to the next level and facilitate communication via live chat, right from their application products.

Integrating live chat in your app means your users can reach out to you at the very instant they encounter a problem, to potentially get instant help. Getting help in real-time is the way forward to provide great user experience and maximise customer support.

Enabling instant communication from the app allows SaaS companies to solve problems quicker, giving customers more reasons to stick around.

 

3- Keep track of customer satisfaction rates

 

A crucial step to reduce churn rate is keeping track of customer satisfaction rates and gather feedback regularly. Feedback is a great resource for gaging satisfaction and improving churn rate.

Customer surveys are incredibly valuable to collate the insights that you need; identify customers expressing disappointment and react to keep satisfaction rates on a high note.

Live chat platforms with help desk and customer service features usually include feedback surveys and reports based on satisfaction rates. Making the most of these tools can help you to keep customers happy and reduce churn rate.

 

The importance of investing to mitigate churn

 

Churn is directly related to burn rate, so when thinking about the impact of churn and how to mitigate it, businesses must put things on the balance and compare all costs.

The greater the churn, the more capital is required for the business to simply maintain revenue. SaaS companies must balance growth, churn and cash for working through maximum viable churn.

In general terms, SaaS startups can afford to invest significantly more in retaining customers to improve churn rates, because retaining existing customers is less expensive than finding new ones. Moreover, investing in customer success to grow existing accounts can be a more cost-effective way to reduce churn than increasing spend for new customer acquisition.

When considering how much it should be spent on managing churn, Tomasz Tunguz has evaluated  SaaS benchmarks and estimates that companies can spend up to 3 months’ worth of contribution per customer on churn management.

Though this can serve as a guideline for many subscription businesses, it will really be down to each company’s variable metrics.

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Get your hands on the latest messaging tools to turn the churn around and retain more customers. Sign up with Ibby today, as one of our early adopters you’ll get started with a 3 month free trial!

 

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Chat as a team: break down the barriers!

Marketing and sales working in silos, disjointed channels for customer service and technical support… Sound familiar? Find out how Ibby’s live chat solves the problem.

We’ve all been there – as customers – in the unfortunate event where we get transferred to lots of different agents or departments; other times asked to send an email or call a number to get the support required. Not only it’s time consuming, but massively frustrating.

Uncertainty is the worst enemy of customer satisfaction. Customers often have to try different channels; or explain what they need more than once to different people – it’s the kind of thing that results in poor customer experience and really hurts your funnel.

The divisions between business departments is a problem companies have faced for many years. The answer? Spare customers the pain and route requests in real-time with live chat.

Live chat is traditionally a one-to-one communication channel – but we changed this. With Ibby, we reinvented live chat to work as a channel where customer requests can be dealt with as a team, immediately – no need for transfers!

 

Collaborate behind-the-scenes

 

When several agents are in a conversation, they can use private notes to communicate behind-the-scenes in the same conversation thread. This means team collaboration happens in real-time, without the visitor finding out.

A typical scenario: a customer needs help from support and tries live chat, but he reaches the sales department. How to deal with this effectively: bring in support to the conversation.

 

 

The ability to chat as a team helps to break down the barriers between agents and departments, reducing friction and making it easier to deal with things.

 

The end result

 

Agents can work more efficiently, and customers are more satisfied with their experiences.

A plus side to chatting as a team is that customers don’t usually expect to talk to more than one agent on live chat, so not only will you be able to support them better, but also delight customers with the level of service!

 

Ready to deliver a increase sales and enhance customer support with live chat? Sign up with Ibby today, you can get started for free!

Live chat support: 10 tips for best results

Ready to engage with visitors on live chat? Here’s a list of 10 top tips for communicating effectively and make the most of every opportunity.

Live chat gives you a fine chance for engaging with visitors online, answer questions instantly and turn them into customers. But it’s important to know what works well and what doesn’t, so here’s a guide with our top ten recommendations to help you to maximise results!

 

1. Introduce yourself

 

Start the conversation with a friendly greeting and an introduction with your name. Don’t rely on your avatar or information displayed on the chat window to tell visitors who you are – introducing yourself directly is an important step to start establishing rapport with customers.

Sharing your name will also help humanise the interaction and assure your visitor that a real person is ready to take care of the case.

 

2. Keep it human

 

In spite of all the hype around chatbots, several reports on customer service stats show that people still want to talk to a real person, so do your best to power your live chat support with helpful humans.

 

3. Use the right tone

 

The tone that a customer service agent adopts has the ability to express a range of emotions, which presents both opportunities and risks. Remember this, so that you can strike a conversation with the right tone and provide a positive experience for every interaction.

A relatively informal (but always professional) tone will help you to come across as friendly and approachable.

Also, don’t be shy with the use of emojis, people love them!

 

4. Be quick

 

Your response time is crucial in live chat service. The point of using live chat is to keep the conversation real-time. Consumers expect an instant response, so the optimal response time in live chat is circa 10 seconds, and under 1 minute.

Help yourself with canned responses when appropriate to provide a quick response, and stay alert with notifications to stay on top of all conversations.

 

5. Be proactive – make the most of visitor data

 

The best live chat tools are equipped with live website visitor analytics that give you a real-time view of your visitors online: you can see where your visitors come from, what they are browsing, how much time they spend on your website and more.

The trick is in using this data to your advantage, as it allows you to get really close to prospects and proactively engage with them.  Do you see someone spending a lot of time on your pricing page? Chances are they are struggling or have some questions – offer some help! 

Monitor your data to identify prospects online and start a conversation. A data-driven approach can help to improve conversion rates and sales.

 

6. Avoid transfers: chat as a team

 

We’ve all been there – as customers – in the unfortunate event where we get switched from department to department; or asked to send an email or call a number to get the support required. Sadly, this happens in live chat too!

Luckily, with Ibby, you can invite users to a live conversation with a visitor or a customer, to get them the instant help that they need. No need for transfers.

Chatting as a team can not only provide quick assistance, but also delight your visitors with the level of service, as most people don’t expect to talk with more than one person on live chat!

 

7. Keep messages short

 

Keeping your messages short will help you to provide a quicker response. Try to send short messages composed of 1 or 2 sentences; keep them informative and to the point.

 

8. Be patient

 

Sending multiple messages without allowing your visitor the chance to read can give the wrong impression.  Give them a moment to think and get back to you – this will help the dialogue to flow naturally.

 

9. Deliver personalised service

 

Providing a personalised service is key to customer satisfaction. In fact, a research from Accenture found that 73% of consumers prefer to do business with retailers who use personal data for providing a more personalised experience.

Keeping this in mind, make the most of contextual data that can give you all the customer insights you need to provide tailored support. Start by addressing your customer by name!

Live website analytics also provide helpful insights for a more personalised service.

 

10. Set expectations 

 

Managing expectations is vital for customer satisfaction rates. You can choose to display your typical response time to let your visitors know what to expect.

In addition, you can use the welcome message on your chat window to show your support hours if your company doesn’t operate 24/7; or to inform your visitors of certain things like downtime or if you are short staffed on the day

 

Succeeding with live chat is easier than you think – it all starts with choosing the right software. With Ibby, you’ll be ready to deliver a live chat experience that meets demands and delights your customers. Sign up today and get started for free!

Using the power of conversations to scale customer service

Customer satisfaction has become the new Holy Grail of business. There’s no two ways about it – customer satisfaction drives business growth.

Satisfied customers not only buy from you; they come back and buy some more, they talk to others about you, who then also buy, and so on.

It’s no wonder that so many companies speak about obsession with customer service excellence, but are they really meeting consumers’ demands and expectations? And what is the impact of great customer experience?

To help answer these questions, let’s take a look at some stats;

  • Only 1 in 5 companies deliver good or great customer experience (Forrester research)

  • Customers are willing to pay as much as 4.5 time more for an excellent customer experience (Forrester research)

  • 61% of customers globally switched companies due to poor service in 2017. (Accenture research)

  • 77% of customers would recommend a company to friends after positive customer experience (Temkin Group)

  • 73% of companies with “above average” customer experience maturity perform better financially than their competitors (Temkin Group)

 

The challenge is that today’s customers have high expectations, and not much patience. They now expect companies to know more about them, and they want responsive, personalised support that can help them with problem solving and with making better choices.

On the other hand; many service teams don’t have the tools to engage with customers and support them at a granular, personal level.

Companies have to keep a strong focus on personalisation; and acknowledge that catering for each customer personally is paramount to great customer experience.

 

Meeting customers’ needs with real-time conversations

 

Success today calls for the ability to meet customers’ needs and expectations in real time. An effective solution? Eliminating barriers with real-time conversations.

Real-time conversations can humanise the online customer experience and provide the most personable form of interaction for online consumers.

Did you know that over 70% of customer satisfaction has been reported to have come from live chat? As a low-friction point of contact, live chat is the ideal conversational platform that can make all the difference in delivering truly personalised service.

Unlike putting customers in a queue, raising tickets that can take days to resolve or making them interact with multiple levels of Interactive Voice Response (IVR) systems – a real-time conversation with a helpful human on live chat can provide immediate assistance. It stands to reason why live chat has won a place as the preferred channel for customer contact.

A significant side benefit of implementing a live chat tool is that it can provide analytics for tracking visitors’ activity on websites in real-time. Capturing real-time data of visitors and customers provides agents with valuable insights and context to achieve new levels of personalisation.

Simply put, good service means good business. Increasing customer satisfaction requires empowering teams with effective tools for communication, data gathering and automation – to enable agents to have real-time conversations with customers to deliver more meaningful, personalised service.

 

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Take Customer Service to the next level with Ibby!

 

We, at Ibby, are working on an innovative message-driven solution for business growth; to enable teams to use the power of real-time messaging to increase sales and scale customer support. We would love for you to have a first-hand experience – Sign up to start chatting and delighting customers!

 

We’re all in for human support: Here’s why

In many ways, automation is making aspects of life easier or more convenient. But does that mean customer support should become less human?

As automation keeps spreading its wings, the ways customers interact with businesses are ever changing. Over the past few years, we’ve all witnessed how machines have taken over for an infinity of simple tasks.

Technology and AI are progressing faster than ever, and the efficiency of automation is not really in question – for a number of things. However, when it comes to customer support, the best person for the job is, well, a person.

When it comes to customer support, the best person for the job is, well, a person. #CustomerService Click To Tweet

 

Automation is not automagic.

 

In most cases, when questions arise because something isn’t working as expected; it’s really hard to argue that automation is the best answer. This is mostly because some of the most typical questions, like ‘why’, can be incredibly complex for a machine to answer.

Truth be told, humans are better for customer communication because they can better understand what you want and provide more accurate answers. That’s why customers want to talk to real people, and they want better human service.

Many people don’t like dealing with machines, and they certainly don’t like having to go through rounds of “I’m sorry, I didn’t quite understand that” to get to talk to a real person. Still, customer service agents are often only available as a last resort. [Sigh].

 

Our people and values: Our humans are there for you.

 

For us at Ibby, people are at the heart of our business. Ever since we embarked on our journey in the SaaS world over 3 years ago, we’ve relied on our great agents for providing the best possible service – and our human support has made a big difference to our customers.

Our team is 100% committed to help you to succeed. That’s why, with our Ibby platform, we offer you hands-on support via live chat, email and phone with each and every plan. Human-to-human.

While we highly value automation for its convenience, we know that the human touch not only still plays an essential role in customer communications, but it’s also craved by customers.

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At Ibby, we have embarked on a journey to help businesses to boost sales and support with the power of messaging. We would love for you to have a first-hand experience. Sign up and take us for a spin!

 

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