AI is no longer science fiction and a part of Hollywood movie scripts only as it is now being used extensively in a wide array of fields. By the look of things, AI still might look like in the infant stage, but according to a report, it has been found that 37% of the businesses are already using AI, and it is currently a $62 billion market.
But for many marketers and sales professionals, AI comes with a caveat of failure, which is why they are using a cautious optimism towards it. Both doubt and lack of innovation are the two perpetrators that stop marketers from unlocking the power of AI for improving the customer journey and uplifting the conversion rate.
Solutions AI-powered CRM and Customer Data Platform have even wiped out the high cost that was earlier associated with AI. That is why savvy marketers are no longer procrastinating the implementation of AI in their marketing plans.
With AI becoming ubiquitous in the marketing realm, it has become essential to master this art. Therefore, in this article, we have discussed the top 5 ways through which AI is currently improving the customer experience.
The AI revolution in marketing and sales
Most companies are already enhancing customer experience through automation and data analytics, but AI enables machines to keep improving, and it goes beyond just automation and data analysis. The AI tools allow the computer to analyze a large volume of data, make complicated decisions, identify human speech and response, comprehend human behavior, and much more.
The AI tool's capabilities can be precious for any company. They are always trying to shift between the changing market landscape while matching the pace with changes in technology, demand, and customer behavior.
One of the best examples of AI implementation in marketing will be Amazon. A visit to the eCommerce site of Amazon quickly demonstrates how AI is being leveraged by Amazon to recommend products based on products you search, click and buy. And because of the success with AI, Amazon already invested $21.9 billion in AI in 2020 alone.
Well, all this is just a glimpse of how companies are using AI. From SEO and searches to Ad targeting and chatbots, AI is being used in numerous ways, and it all comes down to enhancing the customer experience.
Five ways AI is helping brands improve customer experience
AI provides you with better insights related to your customer.
With both AI and machine learning on an even keel, brands get the power of garnering and analyzing behavioral, social, and historical data, which allows the brands to understand their customers in a much better way.
With AI by your side, you no longer have to be confined to the current limitation or ability of the coding of your analytical software as AI keeps on improving and learning from the data it probes.
The new-age ability of AI helps companies crunch gigantic amounts of data, and the AI even does the heavy lifting on data cleansing and aggregation. This frees up the company's internal resources, which earlier was bogged down with data analysis, and both the marketing and sales team can narrow down their focus on customer behavior.
Building profiles and models through AI helps make vital predictions regarding what the customer is going to buy, which type of image they are going to search for, and even what they are going to browse on the internet.
Quick and improved customer service through AI-powered chatbots
Gone are those days when customer service was limited to a tech team sitting behind the desk, answering queries over the phone, typing solutions in chat boxes, and replying to customers' issues through emails as the power of AI has helped us to flock to the era of chatbots.
If you think chatbot is still a new kid on the block, then think again, as 40% of the companies are already using chatbots on their websites or apps. But this is not it, as even the ability of chatbots increases with time. Nowadays, chatbots can handle 68.9% of chats from start to finish. But how is it helping in improving the customer experience?
Earlier, limited resources and budget thwarted companies from providing round-the-clock customer support, but now, such perpetrators of better customer service are being abandoned with the help of AI-powered chatbots. But round-the-clock support isn't just a good CX; it is a table stake in the current market.
Most customers don't want to wait until you open your doors so that they can get questions, answers, and queries resolved. That is where AI is improving the way customers interact with a business. That is why 78.2% of the customers have a neutral or positive experience with chatbots.
Building the trend of automated life assistance
If you don't have an aversion to gadgets and if you love making your life easier, then you must have used Alexa, Google Home, Echo, or similar robotics AI to turn on your favorite music or dim the lights. But nowadays, companies are using these robotics AI for improving the customer experience.
For example, many banks have already started using Alexa and Google Home to automate bill-payment and schedule transfers with just voice commands. Stores allow their customers to order products through the robotic AI, and movie theaters integrate with Alexa and Google Home to book movie tickets.
An approach like this is promoting the culture of self-service among customers. It is being accepted with enthusiasm in every market. It makes processes quicker, and there is no need to always get in touch with a representative from the company. And with 20 million people in the U.S having more than one Echo, one doesn't need to worry about a slowdown in the robotic AI trend while investing in it.
Making hyper-personalization easier for even SMEs
Hyper personalization keeps real-time data and AI on an even keel to deliver content that is specifically relevant to a customer rather than rehashing the same content for every customer. Conversational AI is helping brands in providing hyper-personalized experience, and it is also a much more convenient and quicker way to interact with the business.
In addition to making the conversation and content delivery more personalized, AI can help eliminate the pain points in the customer journey. Some of these pain points that customers want to shrug off are re-confirming the phone number explaining the same problem repeatedly to different representatives.
AI connects with the entire history of conversation and previously stated inventions, and it then eliminates the chances of the customer griping about the service provided by the company.
A sense of support for customers with assistance on each buying stage
Both Artificial Intelligence and Machine learning promote and support natural language processing or NPL. The NPL is one of the branches of AI that equips computers to understand the text and spoken words in a similar way a human does.
With such an ability in the system, brands can organize, optimize and generate content quicker than they did the entire thing with the traditional method. Such type of quick content generation helps customers by successfully guiding them throughout their journey with ease.
A fragmented experience can deter customers from purchasing a product, which you can overcome with the help of AI while enhancing the customer experience.
Artificial intelligence is not a perpetrator planning to overtake the world, nor is it there to snatch jobs from employees, as this is also a big concern. AI opens many doors of opportunities for businesses and allows them to level up the playing field, especially when providing a world-class customer experience.
From taking advantage of real-time data to equipping brands with the power of predictive analysis, there are so many things that one can achieve through AI that makes the possibilities limitless. Get in touch with our experts to know more!
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