Want to improve customer experience in the best possible way?
The AI revolution is upon us and pretty much every industry, from healthcare to finance, is taking advantage of these new technologies.
It’s rapidly changing the way businesses interact with their customers.
With the ability to process large amounts of data and make decisions, AI is becoming increasingly important for companies looking to skyrocket the customer experience.
These are five ways that AI is helping businesses improve every part of the customer journey.
One of the most popular ways that businesses are using AI for customer experiences is through the use of chatbots.
In fact, Invesp reveals that 67% of global consumers had an interaction with a chatbot over the last 12 months.
And it’s only increasing.
Why are they so great? Well, chatbots can provide customers with 24/7 support. They can answer questions, provide information, and even complete transactions.
To top it off, they also help to reduce the number of calls and emails that need handling by human customer service representatives.
The race to give businesses an edge on the customer journey is undergoing change through personalisation.
Essentially, AI can be used to analyse customer data and create personalised experiences for each individual.
Becoming a real game-changer for offering the ultimate user experience.
A retail website could use AI to recommend products based on a customer’s browsing history or purchase history.
It can also extend to things like personalised email campaigns and targeted advertising.
AI can help with analysing customer data and make predictions about future behaviour.
You did read that right.
Businesses could use AI to predict which customers are at risk of cancelling their service and take proactive steps to retain them.
The use of predictive analytics can also help predict things, like which products are likely to be popular in the future, helping businesses make more informed decisions.
The advantages of predictive analytics on your customers extend to:
- Real-time product feedback.
- Pricing model optimisation.
- Service prediction and offerings (i.e. when a customer is ready to buy a new house, or acquire their driver’s licence).
AI can automatically respond to customer inquiries.
Saving heaps of time on interactions.
For example, a business could use AI to automatically respond to customer complaints on social media. It has the ability to triage them to the appropriate department, and provide relevant information.
AI-powered, or intelligent virtual assistants (IVAs) are becoming increasingly popular.
Gone will be the days of mistakes, error and reliance on human assistance within industries like finance, telecommunications and healthcare.
A report by Grand View Research reveals that the global intelligent virtual assistant market size was valued at GBP 4.78 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 28.5% from 2021 to 2028.
You can integrate them into various applications or platforms to help customers perform tasks or answer questions in real-time.
These assistants can be integrated into customer service operations, allowing customers to access information, track orders, and communicate with support teams all in one place.
AI Is Transforming Virtually Every Role In The Boldest Ways
In conclusion, AI is a powerful tool that can be used to improve the customer experience in a variety of bold and exciting ways.
By using chatbots, personalization, predictive analytics, automatic responses, and virtual assistants, businesses can provide faster and more efficient service, while also gaining valuable insights into customer behaviour.
With the help of AI, businesses can create a better customer experience, increase customer loyalty and gain a competitive edge.
*Looking for that competitive advantage? Want to make real use of AI? Take a look at what else this amazing technology is doing for various industries on our blog.