15 ways AI can help customer experience
We explain 15 ways in which AI can lead to intelligent, informed and smarter Customer Experience Management.
We are all witnessing the rising role in how artificial intelligence is helping and shaping the way businesses operate. While AI and automation hold tremendous value in terms of time and cost savings, there is another area where AI promises big, meaningful returns: customer experience management. Lately, AI has been taking a big part in the customer experience journey, offering solutions in areas like sales and marketing by helping organisations increase their sales, provide better customer journey experience, increase customer retention, implement highly personalized marketing strategies and improve their customer support services. According to a Salesforce Research survey of 3,500 global marketing leaders, 51% of companies are already using AI, and more than a quarter are planning to deploy it in within the next two years.
How did AI become the best optimization tool for businesses?
The Chief Technology Officer of Kantify, Nik Subramanian, explains: “while the concept of AI is several decades old, there were two fundamental limitations preventing a broad use of it in the industry. The first limitation was that it wasn’t economically feasible or technologically attainable to collect sufficient data to make real-world AI applications. The second limitation was that there was no sufficient computing power to tackle the most complex, and often most valuable problems.” Today, with the massive growth of data within the companies, comes an opportunity to utilize that data for machine learning and AI that can improve your everyday customer experience. Big data is everywhere, everybody is collecting more and more data, also, computing power has become very cheap.
Exploring the potential for using AI in Customer Relationship Management
Looking at early definitions of relationship marketing (e.g. Berry , 1983; Gronroos, 1990) and Customer Relationship Marketing (CRM) frameworks, the management of customer relationship can be divided to three stages: attract, retain and enhance. This ‘stages-based’ approach to relationship management, can help us explore all the potential applications for AI:
AI and attracting customers
With the use of AI you can provide customised personalized product recommendations to your customers, which are based on purchase patterns of similar customers as well as customers’ purchase history. This encourages sales, upsell and cross-sell;
Implementing automating services, like Chat-bots, can advance your customer service by providing customer support real-time, which fosters conversion;
AI can improve your content marketing strategy with personalized content, e.g. serving relevant content and recommendations to your users, which is also proven to support conversion;
AI can help you to automatically define the channel and timing of your marketing campaigns, for example email campaigns, helping you to be relevant and timely to every customer;
AI can help you tailor your whole marketing mix so you can maximize your chances to convert your customer by targeting them at the right moment, through the right channel, with the right content.
AI and retaining customers
AI can help you forecast which of your customers are most likely to churn so you can act on time to retain your customers. You can read more about customer churn here;
AI can recommend the optimal content, pricing and channel strategy to help you reach the customers which are most likely to churn, and retain those customers;
You can apply programmatic advertising to deliver ads tailored for customers to nurture your post-purchase relationship and remind your customer of benefits and promotions;
AI can help you improve your customer service by automating requests prioritization, requests’ analysis and service or information delivery, in real time;
Your company can automate emails which can deliver personalised content directly to each individual customer to deal with predicted ‘pain points’ after the purchase. As the first six months of product/service usage may be when the majority of problems and issues arise, and the newly customers are more risky to switch or exit the relationship.
AI and enhancing customer experience
Personalization is not only a way to convert customers, but also a way to enhance the customer journey by providing relevant recommendations, content or interactions;
AI can help you predict your sales, even for new products so you always have enough stocks for your customers;
AI can help you predict the best assortment per point of sale or location so your customers enjoy their journey;
AI helps to automate the servicing of your client’s routine needs like scheduling appointments.Remember the Google Assistant ?
You can send automated emails to deliver personalized messages and content to selected customers, promote new services/products and to respond to FAQs.
Things to know before deciding to integrate AI tools in your business
Before looking into what AI can do, you must firstly have a first CX vision in place. If this is not the case, AI based analytics are perhaps a necessary first step;
Map and analyze current customer journeys to understand better the touchpoints and experiences customers have with your brand- from discovery, presales, sales, customer service and beyond;
Get familiar with AI solutions or use-cases suitable for understanding and helping customers faster and more efficiently.
As AI evolves, it is presenting endless opportunities for businesses to use customer data to increase sales, create sophisticated customer journey analytics, deliver meaningful messages, simplify the interaction with your customers, and enhance customer engagement. Today, AI can lead to intelligent, informed and smarter customer experiences along each stage of your customer journey. You can read more about the value of hyperpersonalization in marketing here.
Want to integrate AI solutions in your business but you are not sure how and where to start?
Kantify is a consultancy team providing tailored AI solutions for your business. We are a team of specialist in business and machine learning, helping companies tailor best strategies and implement them with the use of AI tools to maximize customer engagement.