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Well from a user point of view, I know that many times when I visit a site that has a live help, more so if the live help prompts me to activate it, I have more often initiated the chat. It can be helpful to the customer to have someone to ask a question and get a straight answer, than having to wade through your site looking for info, especially if its a large site.
Plus by chatting with visitors, you might be able to get information on what most people to your site are looking for so you can provide it, or provide more of it. But of course this feature can be time consuming/expensive, so you might just test it for a while and see if there's any real benefit.
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