We all know that effective customer management is the key to a successful business. Regardless of how innovative products or services a business offers, customer satisfaction is linked with the overall customer experience a company provides. This describes the need for effective technologies to enhance the customer experience.
Today with technology empowering the businesses, especially AI, playing a huge role in how businesses operate. AI systems and models are helping in every sector of customer services from data collection in the marketing department to onboarding in the HR department. While AI and automation holds a great value in terms of cost and time saving, it promises even bigger in another area: the customer experience. Customer experience is regarded as the root of digital transformation. Every innovative strategy we make should revolve around customer experience. With a large amount of data available, machine learning and AI models can improve customer experience.
How AI is transforming everyday experiences for customers?
Today more and more businesses are relying on AI-based customer services systems for generating greater revenue and managing customer relationship. Let’s understand how AI is transforming the customer experience and helping businesses in building brand loyalty.
By far, one of the most beloved aspects of AI is personalization. We are living in an era where we rarely need to search for products based on our likings. AI has made it so easy for finding the recommendation based on our history. From recommended movies and videos on Netflix and Youtube; recommended music on Spotify; recommended events in the town and friends suggestions on Facebook; and product recommendations on eCommerce platforms, AI is putting the ‘all-knowing guy’ out of business. In this age, everything is available to everyone at the forefront based on their needs and wants.
Ai is not just personalizing the recommendations for better customer experience, it is finding its ways in the clouds, where companies are storing their data for faster access and insights. Microsoft Azure and Amazon AWS, for instance, are offering insights and expertise for building AI-based applications. This enables companies to scale their AI capabilities leveraging experienced leaders in the cloud.
Adding to personalized recommendations, companies are turning to AI for developing personalized content. If I imagine myself as a customer, I am much more likely to buy from the company that has invested time and money to get to know my choices. Yes, there are some privacy concerns but the most part what matters is customer experience as long as the data is not being used for some harmful purposes.
Providing Immediate Response
Another way AI is transforming the customer experience is by removing the ‘on-hold’ factor due to the non-availability of customer support agents. This is the most wearying experience when I had to wait for the agent just to get help in solving a small problem in my billing, product or service. AI has changed all of that by introducing the chatbots and virtual assistants to answer simple customer queries.
In 2011, Gartner made a prediction that by 2020, 85% of customer relationships will be managed without human interaction. This prediction is not only proving to be true but it seems that we might hit 90% by the mid of 2020. However, chatbots are not smart enough to fully handle the customer support but as long as they are solving small problems for customers, they are a good asset for a business.
Although fraud prevention is not a forefront customer service, it’s vital for building customer trust and enhancing the customer experience. With digital transformation, the number of cyber frauds is increasing. And to build customer trust, it’s important that businesses take steps to make their platforms secure for customers.
AI-based credit card and identity verification help businesses to securely onboard customers. If trained with relevant data AI models could predict fraudsters and eliminate fraudulent activities beforehand. Surely, frauds are one of the concerning issues for the customers and companies could greatly benefit from AI systems that prevent fraud.
Happy Customer Service Agents
While customer service agents put a lot of effort into making customers’ experience delicate, but we have to face the reality that it’s impossible for customer service people to be “ON” all the time. Many customers have bad experiences with customer support once in a while. The benefit of AI-based agents is that it doesn’t get upset. Whatever your query is these systems will always be in “ON” mood unless their power is cut-off. This gives companies peace of mind that customers are not getting a bad response from agents.
Quick Wrap Up
In this quickly evolving digital era, the customer expects the best and in the shortest time possible. By integrating AI-based customer services systems, businesses can make feel customers known and valued and build brand loyalty. That’s why to cap this off, it’s important for businesses to grab this opportunity before running the risk of being left out.