With the market competition touching the sky, the business focus has drifted from sales to customer retention. The businesses these days are more focused on providing top-quality customer experience to their customers and keep them hooked to their products/services. They are investing in various latest technologies and strategies to keep their existing customers happy along with attracting new clients.
One such technology that is bringing breakthrough result in this context of delivering exquisite customer experience is Artificial Intelligence, about which we will discuss in this article.
But before that, let’s look into what is Artificial Intelligence.
Artificial Intelligence(AI), in layman language, is the technology that empowers the machines to imitate the human intelligence. It works based on high-level algorithms that gather data from the environment in real-time and upgrade the understanding. And in this way, offer better results to both the customers and the brands.
Now, as you have a brief idea of what AI is, let’s jump into benefits of Artificial Intelligence in Customer experience:-
Ways Artificial Intelligence Drives Customer Experience
AI is also making the customer experience better, healthier, and faster. The AI-based tools and mobile apps ask a few questions to the customers and refine the product/service shown to them. This lessens their efforts to find the right product/service for them and increases the sales.
In other words, it prevents the customers from failing to find the suitable product/service and ending up exiting the platform.
The biggest benefit of Artificial Intelligence in Customer Experience is its ability to offer personalized offers. The technology accumulates the user-related data in real-time and by combining it with its knowledge of behavioral psychology, the AI helps to predict the user behavior and target them with the products/services they want. In this way, it improves the chances to convert potential users into customers, which eventually increases sales.
Unlike humans, the AI-based chatbots and software work day and night (that too without gallons of coffee). They handle multiple customer queries at the same time, with the same energy, attention and pace – 24 x 7. This makes it easier for the brands to attend each customer request within time and provide them with the feeling of being valued, with a lesser risk of having them turning towards the alternative options.
Artificial Intelligence also gears up the unbiased nature in the customer journey. Unlike humans, these AI-based humanoids treat everyone equally and serve them with the best optimal solutions. They do not hold grudges for some particular customers and overlook their needs, eventually resulting in loss of those customers.
The AI machines listen to all the customers and provide them with the best services, regardless of their gender, age, occupation, or any other trait. Therefore, it encourages them to return to your platform progressively and spread word of mouth in their communities.
5.Better Marketing Strategies
The Artificial Intelligence empowers the businesses to gather real-time data from different sources, find a relation between them instantly and predict the future behavior based on the gained insights. This cut down the efforts of the marketing team to analyze the situation and make an effective marketing strategy, while ensuring optimal customer experience.
6.Precise and Secure Transactions
The AI-based machines and mobile apps are programmed such that they can compute far accurate than the human brain. This makes them more appropriate at handling transactions. Besides, the AI-enabled chatbots and mobile apps can predict the future by analyzing the data gathered in real-time. This can alert you regarding fraud transaction that might happen in the future. This way, the technology provides you with an opportunity to improve your security system and ensure precise and secure transactions.
Another major factor defining the role of AI in Customer experience is its multi-platform presence approach. AI, in the form of bots, make it easier for you to integrate AI into your website, social media platforms and more, such that they respond effectively and could continue the conversation when the user moves from one mode to another.
In other words, this AI feature makes your brand omnipresent and make the customer interactions smooth and effective.
BONUS : Artificial Intelligence is really helpful in improving the customer experience. However, this is not its sole purpose in the customer support world. The AI-based chatbots interact with multiple customers 24×7 and provide them with the optimal information. This lessens the work pressure on the team and encourages them to work productively.
In a nutshell, the AI technology makes it possible for the business to keep both its customers and employees happy, while making a fortune.
Do these benefits seem interesting? Well, hold on your breath as we are turning towards what is the future of Artificial Intelligence in the customer journey.
What Artificial Intelligence Holds for the Future
As per the market research, Artificial Intelligence will enhance the customer experience in the long run. Some of the insights are as follows:-
- 51% of customers prefer that brand to be available 24×7.
- 30% of companies will use AI in their sales process by 2020.
- 85% of users will regulate their relationship with a brand without any human intervention by 2020.
- 73% of the organizations across the globe have either invested or planning to embrace the AI and Big Data technologies to gather real-time data and take more effective feedback.
- AI will double annual economic growth by 2035. It will boost employee productivity by 40% by revamping the traditional work processes.
- 43% of millennials will consider paying extra to get instant and effective assistance from AI-enabled chatbots.
Now, as you know, the different benefits of AI in Customer experience that you have missed out and the future prediction – what’s your plan? Are you ready to catch the missed bus and gain the limelight in the market?
Bhupinder Kour is the Content Writer at Appinventiv, one of the Top Mobile App Development Companies 2018. She likes to stay updated with the latest tech trends and present it in a simplified and engaging manner, making the technologies digestible to all. When not digging deeper into the technology world, you’ll find her reading books or writing answers on Quora.