Do Businesses Need 24/7 Customer Support in 2024?

The rise of AI has made everything that is human-controlled appear old hat – including customer support. If an AI-powered chatbot can do the work of a whole customer support team, does the latter still serve a purpose? AI chatbots can also provide quicker answers to queries, which, in the fast-paced environment of the internet, is what most customers are looking for. 

However, even the most sophisticated chatbot would be unable to compete with human-to-human connection. This begs the question: do online businesses really need 24/7 customer support in 2024? 

Industries where live chat is critical

For some online businesses, providing 24/7 customer support is crucial. Specific issues can come up that need to be resolved promptly, regardless of timezone or where the customer is located in the world. If left unresolved, customer data, financial information, and trust are put at risk. 

One industry that considers live chat essential is finance. The nature of online banking now allows customers to check their account balance around the clock from any location. They are constantly using the money in their account to shop on eCommerce sites, send money to relatives, and invest in the likes of crypto. 

Should anything go wrong with a transaction, or if a customer suspects their account has been hacked, they require immediate and live support from a member of their bank’s customer service team. Live chat ensures that problems can be dealt with swiftly. Without it, the customer’s trust in the bank will likely diminish. 

This extends to other online platforms that concern personal and financial information, such as online casinos. As Ciaran McEneaney points out, usually Australian casinos provide customer support, but this is not always a given. The sites that do can respond to complaints as they are made and resolve issues promptly. So, if, for example, you’re experiencing an issue withdrawing money, a member of the casino’s customer support team can check the status of the transaction and work to resolve it immediately. 

Another industry that is required to provide round-the-clock support is eCommerce. To run a successful online business with a global customer base, questions must be answered promptly. A customer in North America expects the same level of customer support as a customer in Australia, regardless of the time difference. If they don’t receive it, they’ll simply spend their money on another business. 

According to a recent study conducted by Vonage, one of the main customer frustrations is the unavailability of 24/7 customer support, with 48% of customers agreeing. 

However, for all the businesses that are required to provide 24/7 customer support, there are just as many that don’t need to consider it necessary. For example, educational institutions, seasonal businesses, and non-emergency services generally are not required to provide 24/7 support. 

The benefits of live chat

If you determine that your business is required to provide 24/7 customer support, your business will benefit in the following ways: 

Improved customer satisfaction: Communication has been key to business success long before the advent of the internet. Customers are more likely to trust businesses they can talk to, especially if they can do so 24/7. When businesses resolve issues immediately, trust is established with the customer. This good experience will likely lead to further purchases in the future, which will help you establish a long-term customer base. 

Competitive advantage: Not all businesses are in a position to offer 24/7 support. If you can, it can provide you with an advantage over your business competitors. By providing support, you prove that you care about your customers and have nothing to hide. Plus, it means you can market and sell to a global audience successfully. 

Higher revenue potential: By handling customer queries promptly, you reduce the number of abandoned carts and incomplete transactions. A customer may feel encouraged to complete their purchase promptly having had their concerns answered. They’re also likely to become returning customers and recommend your services to their peers. 79% of businesses state that live chat improved their revenue. 

The drawbacks of live chat

There are also several drawbacks of live chat, such as: 

Operational costs: It can be very expensive to run a 24/7 customer support team. On top of wages, you’ve also got to consider training costs and the cost of running and maintaining support technology. If you’re a small or medium-sized business, the cost of offering 24/7 support may be more hassle than it’s worth. This is often where businesses opt for AI chatbots instead. 

Technology: To provide high-quality customer support, you must invest in high-quality technology and equipment. Specifically, you need a customer relations management (CRM) platform that can handle a high volume of customer messages at once. You also need to safeguard your infrastructure with sophisticated cybersecurity, which further adds to your costs. 

Live customer support alternatives

If the drawbacks of 24/7 customer support are relevant to you, then there are alternative customer support options you could try. While AI chatbots don’t always provide 100% accuracy, have limited scope, and can be off-putting for some customers, it’s better to have some form of customer response service than none at all. 

Plus, you could create a hybrid customer support model that filters complicated problems from uncomplicated problems. Customers who are dealing with more complex issues are forwarded to a real member of your support team, while the less complicated issues are handled by AI. 

Alternatively, you could also outsource your customer support needs to a third-party provider. 

Final thoughts

Some industries – such as eCommerce and banking – definitely need to provide customers with 24/7 customer support. Basically, any business that handles personal or financial information, or operates on a global scale, must provide customers with round-the-clock assistance. However, some smaller businesses may struggle to provide this, so instead should rely on AI chatbots or hybrid support models.