Measuring Early Online Chat Results
March 8, 2010 Leave a comment
When I was first evaluating online chat products one of the major concerns was what would the ROI of the investment would be and what type of results could I expect. The formula that I was provided was 2-3% additional leads of your total website visits. So if you have 20,000 visits per month 2-3% equals somewhere between 400 and 600 additional leads per month. For some companies this could be upwards of a 30% increase in website lead conversions which is a huge jump.
In the first 8 days of our rollout we definitely so this type of volume and actually received an even more important statistic, a measureable return on investment. If I prorated our monthly cost of the online chat application versus the amount of product we sold during that same time I had an ROI of 75%.
As budgets for companies get tighter the importance of being able to associate your marketing programs to ROI and cost per lead becomes even more important. Luckily online chat is pretty easy to measure these types of results.
Stay Tuned, Next up…. how to track and measure the quality of your chat leads?