Chat drives companies’ annual growth by 75%  – Research

New research has indicated that companies using chat in commerce experienced 75 per cent improvement in annual revenue growth.

The study highlighted that companies that deployed chat in commerce saw higher revenue growth, stronger customer retention, reduced service costs, and increased marketing effectiveness than companies that did not.

Carried out by Aberdeen Research in partnership with Clickatell, the study disclosed that chat commerce, which enables customers to interact and transact with brands via chat apps, was adopted globally in Asia, Europe, Africa, and North America.

In a statement on Thursday, Clickatell said, “In the global multi-industry survey of 405 companies, Aberdeen found that at least two-thirds of firms use chat and that those that use the chat in commerce achieve superior financial results while delivering a better customer experience.”

Other highlights of the research indicated that companies using chat in commerce experienced 75 per cent improvement in annual revenue growth, 48 per cent bump in customer retention rates, 27 per cent improvement in ability to reduce service costs, and 21 times improvement in marketing return on investment.

According to the statement, the research also showed that many forms of chat, including WhatsApp, live chat, and mobile in-app messaging, rank high in terms of planned adoption as companies seek more connection with consumers.

“We are on the cusp of mass adoption of chat in commerce, and smart brands will create one holistic customer experience across all customer channels, including chat, the interactive channel of choice,” said Clickatell’s Chief Product and Technology Officer, Jeppe Dorff.

Also, Aberdeen Vice President and Principal Analyst, Omer Minkara, said, “Chat enables customer-friendly digital transformation, and best practices are applicable in all industries.

“By making digital transformation efforts customer first, not business first and focused on internal needs, companies will see greater success in satisfying and delighting their customers.”

The statement added that companies that used chat in commerce, compared to those who did not, were 84 per cent more likely to improve the number of positive social media mentions for their brand.