Linguistic factors that increase sales
Live chat is an important part of any online business. It’s a fast and efficient way to engage with one’s customers, provide reassurance, and increase the conversion rate. The purpose of this research is to identify the presence of linguistic factors affecting the efficiency of live chat communication between agents and potential clients. Based on sentiment and tone measurements we are able to provide a comprehensive and extensible method for the data-driven analysis of text chat logs that can support both qualitative and quantitative investigations of computer-mediated communication of the exchange between customers and company.
The chat transcripts were provided by 4Team Corporation. 4Team Corporation is a Microsoft Partner and Independent Software Vendor for small and large enterprises. They have over 17 years of experience, specializing in developing software for Microsoft Windows and Add-ins for Microsoft Outlook.
In this study, we examined chat transcripts for the time period between Feb 08, 2016 and Feb 07 2017. The transcripts were divided into two groups: chats which resulted in the sales of products and services, and chats that did not result in any sales.
Transcripts were analyzed using IntenCheck text analysis engine which can perform text analysis across 26 different psycholinguistic categories split into two groups: Tone (Emotions and Attitude) and Communicative (Communication Style, Insincerity, Timeline, Motivation, Perceptual Positions).
By using IntenCheck text analysis engine it is now possible to obtain linguistic characteristics of the chat transcripts and understand how to improve the effectiveness of sales agents. This knowledge can be also applied when training and educating sales personnel, providing precise instructions on how to improve performance in communication with clients and become more successful when selling products and services.
By deploying IntenCheck API within CRM solutions and by combining it with analytics, one can monitor customer and employee engagements across multiple communication channels such as emails, chats, voice transcripts, surveys, reviews, feedbacks, testimonials, etc. and interpret according to the business objectives.They can then make appropriate strategic plans to enhance customer experience, loyalty, and eventually lead to higher revenue.
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