It’s daunting to think about how many online businesses have sprung up in the past five years, right?

And the companies that thrive may be the ones who in the words of social media guru, Rebekah Radice, become specialists in fixing the issues of their target market, especially as it relates to social media marketing.

You may have started your company before social media exploded and became a powerful means of communication, but that doesn’t mean that you shouldn’t consider upgrading your business processes to meet changing times.

And nowhere is that more evident than in the live chat trend, in which online business owners are embracing technology that allows their representatives to communicate directly with existing and prospective clients in real-time.

If you’re not sure whether this trend is the right move for your business, here are three benefits of setting up a live chat that may help change your mind.

1. Boosts Your Conversion Rate

If you analyze the experience of visiting an E-commerce site from the point of view of a new user, you’ll better understand the value of a live chat.

Visitors unfamiliar with your site will often have questions that they need answered.

But frequently, the effort of actually calling a toll-free number is a bridge too far, and that’s how many prospective clients become lost opportunities.

A live chat box gives new visitors a comfort zone that they can quickly click and engage with a representative.

The chat may last only a minute, but that minute could spell the difference between a vital call-to-action (CTA) such as purchasing a product or service, or a user going to another site.

The goal of every online business is to attract visitors and turn them into long-term clients.

But if those visitors are stymied by a question or concern and don’t have a readily accessible way of having those questions and concerns immediately addressed, they are more likely to move on.

A live chat can boost your conversion rate, and create the kind of long-term client relationship that you crave.

2. Increases Consumer Confidence

One of the truisms about consumers is that they won’t engage with a company that they don’t trust.

And part of that trust involves their comfort level with the products and services that they are buying.

Entrepreneur, Neil Patel echoes this sentiment in this helpful piece about ways to enhance the live chat experience for customers. He said that live chat offered reassurance and value to consumers about the products they were about to buy, creating a positive mindset.

Live chat offers consumers the assurance that they are purchasing exactly what they have in mind, without any doubt or concern.

But more importantly, the personal interaction offered by a live chat can pay off in other ways too.

Consumers often feel a deeper connection when they have communicated with a representative that is knowledgeable, friendly and able to make suggestions about products and services based on a client’s unique needs.

Furthermore, a live chat gives consumers the belief that you care enough about their concerns to offer that service.

And in many cases, live chat communication is a much faster and more efficient process than what takes place with toll-free numbers.

Some live chat programs are set up so that your representative can even take an order, and send an email to the client to complete the payment process.

These types of conveniences can go a long way in establishing consumer trust in your business.

3. Saves You Money

Many smaller online businesses don’t have the capital to fully staff a toll-free number with a high number of representatives.

But the beauty of a live chat program is that you can save money, because your live chat team can handle several chats at the same time, without the client ever knowing.

This not only means that you save money on hiring team members, but it also means that you can cut your phone costs at the same time.

In fact, some companies are finding that it’s much more cost effective to cut the cord on a call center, and go to a full live chat system.

Instead of paying for a phone network, automatic call distributor and data network, all you need with a live chat program is the software and the team to man the chat.

Jump On the Trend

Recent studies have found that Millennials – the most sought after consumer group – prefer using live chat than talking to a representative on the phone.

The reason is that live chat is a technology that fits in well with the conveniences of the digital era. While the live chat trend is growing, a majority of online businesses are still not taking advantage, which means that a live chat program can give you a decided advantage over your competition.

If you have more questions about the most important trends in marketing your business, or you want resources to help grow your company, sign up for your free newsletter today. You will get access to helpful content that can provide you with the tools necessary for your business to thrive.