People, who goes on visiting different websites in order to check a product or services are normally those persons who have an interest in particular product but do you think all of them ends up buying the product or services?
If you look carefully the number of visitors in different websites and the number of actual buyers, we will find a vast difference in their numbers. Hardly 2-3% of the total people visiting the website finally ends up buying the product or services. Now, the question is what happens to the rest 97-98% of those who visited the website?
This content is designed to make you aware of the reasons why only 2-3% ends up buying. You will also find a way to increase the percentage of conversion, just like LiveCHat. The trick used by LiveChat with the help of KISSmetrics can help you get back your customers and find out the challenges for which they aren’t buying your products and services.
About LiveChat
LiveChat has continuously given its service from 2002 onwards. LiveChat is a cross platform live chatting software. They have helped small and medium scale industries to provide live support to their visitors and provide a web analytics report in an effective way.
LiveChat provides their services by their 3 effective features:
- Web-based website chat window
- Operator application
- Web-based control panel
They also provides data of real time traffic in the website and performance reports of different operators.
Challenges Faced
Although LiveChat have experienced a high level of growth in their business, they felt it wasn’t enough as per the number of converts they had, compared to the number of visitors. They saw their was a large number of dropouts from the number of visitors in their website. LiveChat realized they can increase the number of converts if they can somehow take back those who are dropping out of the marketing funnel for some reason. They even felt that the number of new customers can be increased.
So to overcome all those limits, LiveChat took help of KISSmetrics to increase their rate of conversions and put back all those who are falling out of the marketing funnel. This decision of LiveChat have help them increase customer conversion by 18%. Now that’s huge!
What is KISSmetrics?
KISSmetrics is an amazing web analytics tool founded by Neil Patel and Hiten Shah, in 2013. It’s a platform developed in San Francisco. Many favor KISSmetrics over Google analytics tool, for its feature to graphically represent the data. The platform they provide is very user friendly and actually make users to learn how to interact with the website and improve its performance level. It helps to collect selective customer acquisition data for analyzing and give users a feedback about the performance level of it.
Strategy to tackle challenges
LiveChat did the best possible thing by making use of KISSmetrics. KISSmetrics help LiveChat to find all those weakness which were the reasons behind their low conversion rate. The steps used by the LiveChat through KISSmetrics are as follows:
- Determining the limitations: KISSmetrics analysed the website of LiveChat and gave them a list of elements that are effecting the rate conversion. This helped LiveChat to curb all those limits and adjust their signup flow leading to increase in conversion rate of new customers.
- Tracked the events that have maximum pull factor: KISSmetrics help LiveChat to find out all those events which makes more number of customers to use their services at continuously and make them pay for the application.
- Use segmentation to reduce Churn: KISSmetrics segmented existing customer data of LiveChat into different categories. This categories helped KISSmetrics to better understand the type of customers they are dealing with. Segmentation of customers also helped LiveChat to determine the challenges faced by different customers and help them curb it by modifying their products and services and even marketing strategies. This lead them to decrease churn rate and create long term value for the customers
By understating those key factors, that drive people to buy LiveChat subscription, made LiveChat to increase customer engagement and limit dropout ratio from the marketing funnel.
Outcomes
KISSmetrics showed the way to LiveChat to gain more number of customers. It is very necessary to keep on checking the real time report of the elements that are having a direct or indirect impact on increase or decrease of customer conversion rate. Use of strategies of KISSmetrics by LiveChat have successfully helped them gain 18% increase in new customers, within just 30 days. This also helped in a 36% increase in renewal of subscription and also an increase in signups of homepage by 8%.
Learnings
Just like LiveChat, taking care of the effective engagement of customers can help your website to give amazing result in increasing the customer conversion rate. Use of web analytics tool like KISSmetrics can make your website visible to a large crowd and help you gain your potential customers in a very effective way.
So, try those tools and keep checking us back to find what tricks are used by fast growing, online shopping or software platforms.
Image Credits: webassets.desk, kissmetrics
