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Chat Marketing'S Impact On Customer Support Satisfaction In Financial Startups

Author

Listed:
  • Kisieliauskas Justinas

    (Vytautas Magnus University, Faculty of Economics and Management, Lithuania)

  • Shamsi Basha Anas

    (Vytautas Magnus University, Faculty of Economics and Management, Lithuania)

  • Rackauskas Mantautas

    (Vytautas Magnus University, Faculty of Economics and Management, Lithuania)

Abstract

The subject of this paper is the influence of chat marketing on customer support satisfaction. The purpose of the study is to determine the relationship between the use of chat marketing and customer support satisfaction, as well as to identify the essential factors that contribute to this relationship. Furthermore, this paper aims to provide theoretical insights into the influence of chat marketing on customer support satisfaction in financial startups. Many companies struggle to achieve the most efficient chat session and are uncertain about the best strategies, factors and types of chat to implement. Therefore, these findings will help financial startups to theoretically understand the aspects of chat marketing and customer support satisfaction. The object of this article is the impact of chat marketing on customer satisfaction, and the purpose is to reveal theoretical knowledge that will help identify the factors that contribute to chat marketing and customer satisfaction in financial startups. This paper discusses the importance of customer support for financial startups and the different approaches to providing customer support through emotional means. In addition, this paper highlights the importance of customer satisfaction through trust and commitment to build a positive relationship with the customer. Furthermore, this paper demonstrated the framework behind chat marketing, which includes the use of different tools such as live chat platforms, chatbots and live agents or human representatives that help to achieve customer satisfaction through customer support. Moreover, using methods such as: observation, survey and regression analysis, this paper has demonstrated the importance of customer centricity in the financial sector to provide key essentials for employees as incentives that maintain customer satisfaction, while ensuring the flexibility of real-time communication with chatbots or live agents, with the need to have the ease of use and flexibility and various other factors to contribute to customer support satisfaction. As a result, the paper emphasises that in order to increase customer satisfaction with financial start-ups, it is crucial to maintain a low response rate by providing fast and reliable customer assistance. Developing and regularly updating chatbots to facilitate smooth transitions to live agents in complex situations is essential. Implementing an effective ticketing system to automate and monitor issue resolution is essential, with a focus on resolving issues during chat interactions whenever possible. Adopting a hybrid strategy that combines live agents and chatbots helps to meet diverse customer needs in a timely manner. Investing in comprehensive training for live agents is necessary to ensure professional and timely service. In addition, continuous monitoring and analysis of customer feedback plays a key role in improving overall business performance.

Suggested Citation

  • Kisieliauskas Justinas & Shamsi Basha Anas & Rackauskas Mantautas, 2024. "Chat Marketing'S Impact On Customer Support Satisfaction In Financial Startups," Baltic Journal of Economic Studies, Publishing house "Baltija Publishing", vol. 10(2).
    • Handle: RePEc:bal:journl:2256-0742:2024:10:2:1
    DOI: 10.30525/2256-0742/2024-10-2-1-13
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    References listed on IDEAS

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    1. Joel Mero (Järvinen), 2018. "The effects of two-way communication and chat service usage on consumer attitudes in the e-commerce retailing sector," Electronic Markets, Springer;IIM University of St. Gallen, vol. 28(2), pages 205-217, May.
    2. Turel, Ofir & Connelly, Catherine E., 2013. "Too busy to help: Antecedents and outcomes of interactional justice in web-based service encounters," International Journal of Information Management, Elsevier, vol. 33(4), pages 674-683.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    chat marketing; chatbots; customer satisfaction; customer support; customer support satisfaction; live agents;
    All these keywords.

    JEL classification:

    • M31 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Marketing and Advertising - - - Marketing

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