AI and the changing Customer Journey Landscape
The rise of Customer Journey Analytics
Customer experience, once seen as a competitive differentiator, is now a strategic imperative. Organizations are shifting focus from product/service diversification and competitive pricing to enhancing customer loyalty by providing customized offerings and attracting customer loyalty.
A thorough analysis of a customer’s journey from product comparison, purchase, payment and post purchase service can reveal opportunities for businesses to offer a ‘specially for you’ experience.
Although a lot of data is usually captured at each customer touch point, the challenge usually lies in creating a referenceable data mart to uniquely associate transactions for every unique customer.
AI – Connecting Customer Stages
The evolution of AI has proved to be a game changer. The grueling task of pulling together dozens of data sources manually is now a yesterday’s thing. With quick integrations, data unification and analysis, Artificial Intelligence is being used to provide a rewarding customer experience at every stage.
GARTNER PROJECTS THAT MORE THAN 85% OF CUSTOMER INTERACTIONS WILL BE MANAGED WITHOUT A HUMAN BY 2020.
For example – AI-based conversation bots are used in different customer-engagement scenarios eliminating frustrating delays and improving speed of service. Using NLP, bots can comprehend customer verbiage and provide accurate and immediate responses based on their past purchases and preferences, 24X7.
A virtual agent successfully substitutes human assistants and utilizes AI to obey commands, answer questions, manage to-do lists, set reminders, control and manage smart devices etc.
Consumers are now conditioned to expect personalized experiences. Let’s take a quick look on how AI solutions are helping in making each moment matter across different stages of customer journey:
AI-enabled virtual agents on website or mobile application help customers research, compare and explore options basis their past interactions and behaviours.
Virtual agents can also recommend deals and seamlessly switch to a live chat agent, if needed.
AI and machine learning apps are helping customer with bill calculations, payment methods and answering related questions.
This stage of journey is optimized with a virtual agent that prompts delivery status and supports any additional provisioning related requirement.
AI engines help study customer preferences and suggest use of products or services which are personalized to their user preference. Example: How maps applications adapt to traffic and navigation preferences.
AI helps pre-empt customer issues and takes proactive steps to fix an issue rather than the customer needing to contact the servicing team.
Proactive notifications when membership is up for renewal are prompted preventing late fee charges. AI enabled apps can detect early churn signals using NLP and usage patterns.
A timely warning can aid organizations prevent customer deflection and deploy retention strategies.
AI Future – Above & Beyond Imagination
Organizations are clearly becoming more comfortable with the idea of integrating AI into their processes, and confident that it will lead to improvements in efficiency and customer satisfaction.
It is surely on-course to ensure that customer’s every moment matters!