Table of Contents
Table of Contents
Let’s face it, Artificial Intelligence has taken the world by storm. It is evolving as one of the most powerful business tools in the world that is disrupting the way businesses do pretty much everything. We all understand the value of customer experience for a business, and artificial intelligence is the best technology when it comes to satisfying your customers.
According to the latest study, nearly 40 percent of business-related transformations are expected to incorporate AI. Human interaction, on the other hand, would be minimized to a great extent with the advent of AI in business operations.
Keep on reading this blog post to understand what is so smart about this smart technology in terms of customer engagement!
The customer lifecycle begins with the first interaction, be it the first touch or notification while making a purchase or just viewing the product. The lifecycle further extends with the usage of the product. The better the experience a customer gains with the brand, the more the user would suggest it to their friends and family. This is one of the most important parameters of the score that measures customer engagement with the brand.
When a customer’s experience is positive with the brand, he is more likely to become a repeat customer. Organizations these days are turning towards AI to increase customer engagement with the brand and bring in higher revenues.
A customer engagement model enhanced by AI is being diversified within a wide range of services. Improving customer experience with customer support, enhancing returns, and troubleshooting customer issues are some of them.
The advantages of Artificial Intelligence range far more than just understanding individual customers, it can also be used to track the internet behavior of a group of people, such as browsing history, click-through rates, and various other actions. Without an effective AI strategy in place, organizations would just have to shoot in the dark while guessing the most effective technology for customer engagement. With AI, not only we can understand and implement the best algorithms for the best customer experience but we can also further understand the customer needs and wants through these algorithms.
In 2011, Gartner estimated that 85 percent of customer interactions with an enterprise would reduce or completely diminish human interaction by 2020.
AI-based recommendation models can already change the way brands interact with customers by:
a) A better decision-making process allows business professionals to enhance the quality and effectiveness of the products and services.
b) Bridging gaps in the market.
c) Elevating customer service through techniques such as hyper-personalization, faster help desk routing, and real-time access to relevant information.
With an increase in the number of channels, businesses use to communicate, AI technologies such as chatbots, and communication platforms are on the rise.
Artificial Intelligence is a really powerful technology and the power mainly comes from the capability of processing huge amounts of data every day. This also includes predicting customer behaviors as mentioned before.
Let’s dig deeper to understand a few ways by which AI enhances customer experience and increases engagement:
1. Impact of chatbots on customer experience
According to a 2020 MIT Technology review survey of 1,004 business leaders, 73 percent of the respondents indicated that by the end of 2022, chatbots would be the most used application of AI in companies, followed by sales and marketing at 59 percent.
Users always appreciate a good buying experience. The businesses that are going to make the experience automated would benefit from increased customer engagement. Chatbots are a great example of AI-based customer engagement. Chatbots are powered by conversational AI that can be used in different scenarios to handle complaints and eliminate unnecessary delays.
2. Personalization is the key
Artificial Intelligence uses a process known as predictive personalization to monitor consumer behavior and predict their further actions. The customization level makes the overall experience more personalized, and inclusive for each customer.
A recent report by Capgemini titled AI and the Ethical Conundrum indicates that 54 percent of the customers reported that they have AI-based interactions almost every day, which includes interaction with chatbots, digital assistants, facial recognition, and biometric scanners. More so, about 49 percent of the customers find AI interactions to be trustworthy.
3. Get key customer insights with analytics
Artificial Intelligence and business analytics go hand-in-hand by providing professionals with the right analytics about their consumer behavior. Not only do the analytics help to monitor behavior but also automatically compile reports to ensure that the right person sees them. The following stat below clearly mentions the effect of a lack of real-time customer insights in terms of the customer experience:
AI-based customer analytics helps businesses move through complex data structures to simpler and understandable key metrics such as text analytics. Getting accurate customer insights also helps business professionals to make accurate decisions moving ahead.
4. The importance of Voice, visual and textual engagement
Analyzing the conversations and understanding the sentiments behind them, is efficiently done by AI. For instance, AI/ML-based algorithms help in recognizing certain types of facial expressions in face-to-face communications and detect voice disturbances in vocal conversations.
The benefits include systems that route these people to the right places while building customer satisfaction for a seamless user experience.
Customer interactions used to be extremely slow and very resource-draining during earlier times. But with the introduction of Artificial Intelligence, customer experience is being taken to a whole new level. The number of possibilities presented by AI is numerous and insurmountable. Businesses worldwide have understood the importance of AI-driven engagement models to deliver a high-end customer experience rapidly.
There are a plethora of AI-based customer engagement tools at your disposal, but the key lies in finding the most suitable one. You can leave all your worries behind with Debut Infotech’s reliable AI-based app development services.
Visit us now or drop us an email at [email protected] and we would be happy to assist you!