The e-commerce platform has certainly gained momentum as of late, but that doesn’t mean Internet-based retailers will see continued success if their platforms remain stagnant for too long. Brick-and-mortar companies have long been focused on continuously improving consumers’ in-store experiences, and now, many Web outlets are doing the same.

One of the greatest advancements these companies have made, some might say, is the live chat option. Until this was introduced, consumers perusing the Web had two options: call for service and wait on hold for however long, or e-mail the company and wait two days for a response. The live chat option has changed this because it allows customers to get an immediate response through an instant-message feature.

According to an article posted on LivePerson, Inc.’s Web site two days ago, a recent study has revealed that a live chat option isn’t just a great feature for consumers—it’s beneficial for retailers as well. The study examined the potential return on investment (ROI) online retailers realized after installing a LivePerson pay-for-performance system, technology that provides a turnkey customer acquisition channel.  

The study, performed by Forrester Consulting and deployed at ShopNBC.com, found that the combination of low setup costs and a pay-per-order model resulted in a three-year, risk-adjusted ROI of 299% and a payback period of less than two months. More specifically, Forrester reported that the following results were achieved by the intelligent-engagement solution:

• An increase in the average online order’s value. Customers who chose to chat spent an average of 38% more money than those who didn’t.

• An increase in conversion rates. A 24% conversion rate on all chats was achieved; 65% of all chat-assisted orders being incremental.

• A 12% reduction in cancels and returns. Customers who chatted were less likely to cancel an order or return their received goods.

• An increase in the number of online orders from repeat customers. Customers who had previously completed chat-assisted orders placed a higher number of orders at a later date.

An article posted on InternetRetailer.com on Monday also explored the benefits of a live-chat option for Web outlets, reporting that the technology is a cost-effective alternative to a call center. “Agents can juggle chat exchanges with more than one customer at a time, something they can’t do on the phone, and pre-formatted answers to frequently asked questions add to agents’ productivity,” the article explained.

Some online retailers have been utilizing the chat option for years now, and according to the InternetRetailer.com article, 57% of the companies ranked it its top 500 list are currently using it. Should you?