NEW YORK, NY - June 24, 2008 - LivePerson, Inc. (NASDAQ: LPSN), a provider of online engagement solutions that facilitate real-time assistance and expert advice, today announced key findings of a commissioned study -- conducted by Forrester Consulting on behalf of LivePerson -- illustrating the bottom-line benefits and return on investment of LivePerson's chat technology deployed at one of the world's largest financial institutions.
The Forrester Consulting study examined the total economic impact and potential return on investment (ROI) enterprises may realize by deploying LivePerson's chat technology to increase sales, reduce customer service costs and increase customer satisfaction.
Forrester Consulting Study Key Findings
After conducting in-depth interviews with one of the largest U.S.-based financial institutions, which employs LivePerson's third-generation chat solution across seven lines of business, Forrester Consulting found that the organization's most mature deployments for sales and service achieved:
-- Increased incremental online conversion rates and average order size
The chat-assisted application completion rate was 138% higher than self service. In addition to saving and closing otherwise lost customers, interactive chat increased the average dollar value of transactions.
-- 305% ROI from proactive sales chat with a payback period of 6 months
The three-year risk-adjusted ROI of proactive chat for sales-focused activities was 305%.
-- Reduced customer service costs and increased customer satisfaction
Chat enabled the organization to deflect service inquiries from more costly channels: 59% of chats would have otherwise resulted in a customer service call; 9% in email; and 13% of chats would have otherwise resulted in a branch visit. Customer service chats also had a high first-contact resolution rate resulting in increased customer satisfaction.
-- 120% ROI from customer service chat with a payback period of 6 months
Forrester Consulting found that service-focused chat generated a three-year risk-adjusted ROI of 120% with a payback period of 6 months. Because the reference organization implemented chat for two distinct functions (sales and customer service) and maintains separate cost and benefit data for the two areas, this study analyzed sales- and service-focused chat separately.
"This independent study from Forrester Consulting reflects the value, effectiveness and incremental revenue possible with LivePerson's third-generation chat solution," said LivePerson CEO Robert LoCascio. "The online channel represents a significant opportunity to generate incremental revenue and improve the overall customer experience, and we're committed to helping our customers maximize the business potential of the Web."
Live Webinar -- Wednesday, June 25
Join LivePerson and a Principal Analyst from featured guest Forrester Consulting for a live webinar discussing the results of this study on Wednesday, June 25 at 1:00pm Eastern. To register for the event, please visit http://solutions.liveperson.com/events/2008_TEI/.
LivePerson is a provider of online engagement solutions that facilitate real-time assistance and expert advice. Connecting businesses and experts with consumers seeking help on the Web, LivePerson's hosted software platform creates more relevant, compelling and personalized online experiences. Every month, LivePerson's intelligent platform helps millions of people succeed online; more than 6,000 companies, including EarthLink, Hewlett-Packard, Microsoft, Qwest, and Verizon, rely on LivePerson to maximize the impact of the online channel. LivePerson is headquartered in New York City.
Statements in this press release that are not historical facts are forward-looking statements and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements involve known and unknown risks and uncertainties that may cause LivePerson's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements contained herein. Risk factors related to the subject matter of this press release include, without limitation, risks related to future deployments; customer adoption, performance of deployments in specific environments, competition in the real-time sales, marketing and customer service solutions market; and other factors described in the reports and documents filed by us from time to time with the Securities and Exchange Commission and available at (www.sec.gov), to which readers are referred. LivePerson undertakes no obligation to update any of the forward-looking statements after the date of this press release
EDITORS' NOTE: Media Inquiries: Copies of the full commissioned
Forrester Consulting study, The Total Economic Impact of LivePerson's Third-
Generation Chat Solution, are available to members of the press upon request.
For more information or to request the report in its entirety, please email
SOURCE: LivePerson, Inc.
CONTACT: Younjee Kim, +1-212-609-4222, firstname.lastname@example.org