06/07/2016

Why taking advantage of live streaming video for business just makes sense

You don’t have to worry any more about whether or not video chat is a true driver of revenue for your business. That battle has been fought, and the war is over: video chat is here to stay as a must-have feature for businesses, and your competitors are adopting it faster than you think.

20% of the top 500 corporations around the world are going to be using video chat by 2018, according to research performed by Gartner

If the biggest companies in the world are largely jumping on video chat, then why isn’t your business? It may just be because you don’t have a good reason to add it yet, but fortunately for you we’ve compiled a great list of reasons why business owners should want to take advantage of video chat to improve customer experience and drive sales.

It’s More Convenient For Your Customers
At the end of the day, having live chat capabilities just makes your customer’s lives easier. After all, the internet is all about making things more convenient, and while online commerce is easy, getting answers to common questions during the pre-sales process isn’t always as easy as it should be.

In fact, your customers already want video chat, even if they aren’t aware of it yet. In research conducted by Forrester, 44% of customers said that having their questions answered by a live human during the purchasing process was the number one feature that a website could offer. Remember that, almost half of your actual customers may consider video chat more important than all the other features that you have on your website combined.

It Increases Overall Sales
Beyond being an important feature for your customers, having live video chat increases the amount of sales that you are able to get for your firm overall. Live chat is regularly considered the best way for customers to get their questions answered immediately, which improves conversions on your site in general.

The capability of online video chat to increase conversions only improves the more complicated your product is. If you have an extremely complicated product, or one that is high end, then having the ability to walk through the product’s features and answer questions or solve problems with a customer in real time is going to be a key driver in allowing you to get the sale more easily.

It Cuts Down On Your Expenses
If making more money from video chat wasn’t good enough, having video chat capabilities can also cut down on your expenses as well. When video chat is done properly, you can replace an expensive trip to meet a client with an inexpensive video chat, or reduce the amount of times that you have to interact with a customer during the sales or support process, reducing your call center expenses.

The key to this is that you need video chat to work properly in order for it to make an impact with your customers. This means that you need to be careful when it comes to the quality of your chat. Frameworks like WebRTC, which offer a secure method of video chat, are barebones when it comes to their Quality of Experience (QoE) capability, which may compromise the video chat between two networks of varying speed.

One way you can get around this is by using a more stable video chat solution like Agora.io, which powers everything from language learning applications to telemedicine solutions, and can handle poor connection quality on either side of the video chat by virtue of its 65+ datacenters throughout the world.

Tony Zhao, the CEO of Agora.io commented in an interview that “Our 65+ data centers around the world create a virtual overlay network on top of public Internet that optimizes routing and transmission for real-time communications sessions. We are compatible with WebRTC standards but also provide extra support including a powerful real time communication backbone made up of our 65+ datacenters. Our proprietary routing algorithms running inside those data centers support the QoE assurance required for WebRTC applications. Agora also provides enhanced SDKs and codecs for iOS and Android mobile devices.”

Providing a great quality of experience ensures that your video chat actually does reduce expenses, and that it doesn’t create a pain in your side and require more regular interactions with the customer.

It Improves Employee Collaboration
While most of this article is focused on the benefits that can accrue when you use video chat to drive sales, offering this type of chat on an internal basis can also do a lot to drive employee collaboration, particularly across locations.

The International Journal of Business and Management states that up to 90% of communication is non-verbal, meaning that you are losing out on 90% of the communication that happens when you rely on text or audio to interact within an office. Adding quality video chat is a great way to bridge that gap and improve collaboration when video chat isn’t available.

Live Chat Gives You An Edge On Your Competition
The ultimate goal of business is to create positive marks of differentiation between you and your competition, and while up to 20% of the top 500 companies are going to be using video chat by 2018, you have the opportunity to implement this now.

You may not be one of the top 500 companies in the world, which is even better, because you can all but guarantee that your competition is also sitting on the sidelines and waiting to integrate video chat because “no one else is doing it yet”.

You can get an edge on your competition today by integrating live video chat and ensure that your business thrives now and in the future. Not only can you drive sales, but you can also make sure that you create the best experience for your customers and collaborate better with your employees. Are you considering using video chat for part of your business after reading this? What makes you worry about implementing it today? Sound off in the 
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