The Role Of AI In Customer Experience

Customer is the king! Successful Businesses are said to be the ones who can not just offer customer satisfaction but try to exceed beyond. Fortunately, by incorporating the latest technological innovations it has become pretty easy to enhance customer experience and compel them to visit and buy products from your space again and again.


Gone are the days when success was dependent on the product and pricing, today if you can’t satisfy your customers or end-users, nothing can compel them to buy from your space. Today offering the best customer experience has become a mandatory thing to do. Fortunately, with the rise in disruptive technology such as artificial intelligence, machine learning, blockchain, and big data, it has become possible to improve customer experience in no time. In fact, several stats have revealed that the concept of artificial intelligence has grown by 200% in the past 4 years and it’s not going to slow down anytime soon.


The following post focuses on how AI or Artificial Intelligence plays a crucial role in enhancing the overall experience of the end-user but before that let us understand the true significance of customer experience.

 

Significance of Customer Experience

Now, what exactly is customer experience? Well, it is basically how an individual finds interacting with your company or brand. Even a small conversation or a small glitch can hinder the entire experience. Customer experience begins as soon as the visitors start conversing with the website for the very first time. At present, where customers are presumed to be highly educated and empowered, it takes not more than 3 seconds to switch to your competitors if they aren’t satisfied with your resolution.

Here comes the big question, why is customer experience important? Why can’t your products and services do it all? Well, today it’s not just about selling your products and services, brand recognition and gaining a competitive edge is equally important. So yes, offering a next-level customer experience could be your winning move.

Further below I would like to shed some light on certain reasons or facts stating why enhancing customer experience has become the need of the hour.

Makes your end customers happy

One of the obvious reasons to enhance customer satisfaction is that it somehow makes your end-users happy. Businesses that focus on improving experience ensure to encounter all the touchpoints and end up offering a seamless experience throughout.

Also, by addressing all these problems or issues, you can successfully raise your business’s standards and deliver superior service.

Loyalty

Another reason to do this is to increase customer loyalty. Of course, it’s human nature that whenever one is given importance or one is in their happy space, you can easily gain their loyalty. Price is no longer the game-changer. In fact, customer experience is. So by offering the best customer experience, you can easily turn the tide by making them your brand loyal and spreading the word for you. Also, not to mention that attracting new customers can cost way more than retaining the existing ones. Sooner or later this move will pay off. Just give them some time.


In addition, try giving more importance to unhappy customers. It is very important for them to speak for you because negative feedback can spread like a fire. The best way to improve customer experience is to make them feel heard and cared for.

Increase Revenue

Another interesting reason is an increase in revenue. Yes, the more satisfied your end-user is with your services, the more he is bound to come to you, again and again, resulting in increased sales and revenue. It is said that loyal customers have the potential to increase revenue by almost 300%. Being a business person you shouldn’t be ignoring such things.


Try taking regular feedback from end clients and use them to enhance your services. This will definitely work wonders when it comes to delivering an exceptional customer experience.


It is truly said if you want to fear someone, don’t worry about your competitors, worry about the fiercest loyal customers.

Better Competitive Edge

Of course, everything boils down to gaining a competitive edge, isn't it! And by offering a superior customer experience, nothing can stop you from gaining a competitive edge.


Not to mention that today’s customers have become more pickier than before. For them, a customer-centric organization is more important than the one offering products and services at a low price. So to gain a competitive edge, what must be done?

• For starters, try empathy
• Keep customer-centricity in mind while doing everything
• Encourage more customer interactions

As mentioned earlier, disruptive technologies are gaining momentum like never before. The use of artificial intelligence, machine learning, blockchain, AR/VR seems to have delved into the mainstream industries like never before. Now you see I won’t be discussing every technology but there is one concept which shouldn’t be ignored at any rate, irrespective of your business size and industry vertical. Yes, I am talking about none other than AI or Artificial Intelligence.


Today AI is considered as one of the most powerful weapons used to enhance customer experience and attain more and more attention from their end. What, you don’t believe me? Well, down below I would like to mention certain aspects emphasizing on how AI improves customer experience?


First and foremost, what exactly does Artificial intelligence technology do? Well, right from strengthening customer engagement to enhancing brand loyalty, improving customer retention and whatnot! Fret not, these kinds of technology won’t completely replace us but we can put them to better use. Due to which, technologies such as machine learning, AI, and deep learning certainly assist in increasing efficiency and breaking down all the communication barriers.


Some of the finest or most recognized examples of AI technology are conversational chatbots and recommend products on the basis of data obtained by observing customer behavior. However, this is certainly not it, the possibilities are endless.

Time to Enhance Customer Experience using Artificial Intelligence

Accurate Prediction

By using the technology, it is possible to predict things pretty much in an accurate manner. In fact, it’s a huge and the best opportunity to make your customers feel that the service is specially crafted for them.


As mentioned earlier, the technology simply focuses on their past purchases, and behaviors and also assists in making the right predictions regarding what items they might be looking for and when it’s time for them to reorder. Apart from products, the technology can also help in determining what they mostly stream about. On that note, you can definitely suggest TV shows, new music, podcasts, etc.


Above all, all this analysis is done or all these decisions are made right on time. For example, try figuring out those customers who are using ad blockers and offer alternative yet relevant UI components that don't break their engagement. It’s all about understanding the customer’s intent with the help of previous data.

Enhanced Shopping Experience

Another way to make the most of AI technology is to enhance the shopping experience. Several researches reveal that more and more businesses are found trending toward AI technology just to enhance the quality of their online shopping experience. For example, I am sure you must have seen Amazon’s customers also buy sections? It shows specialized purchase recommendations.


How many have this misconception that personalized recommendations drive sales. Well, actually they don’t! In fact, what they do is they end up creating a more pleasurable experience for their end-users and lower the prices of products which a customer often clicks, allowing them to take the privilege of buying something at a reasonable price.


Another way to enhance the shopping experience is by incorporating a chat facility where customers can get answers within the predetermined time or in real-time to be precise. This small gesture of yours gives an impression that no matter what, you will always be there to hear what your customers have to say. You will be responsive and responsible at the same time.

Detecting Fraud

Another prime use of artificial intelligence is that it can help in safeguarding customers’ crucial information and credentials from the bad guys. Yes, you read it right! Today, cyber crimes are happening at a fanatic pace. One must come up with approaches to detect these frauds right from the start. With the help of AI technology, it is quite possible to do so!


AI successfully gathers, stores and compares user data in real-time, so professionals can easily identify in case if there is any change found in the actions of users and take preventive measures right in the nick of time before it gets too late.

Final Words

On and all, the scope of AI is pretty high and it doesn’t seem to be slowing down anytime soon. Further, I would like to mention certain well-known industries offering higher customer services with the use of artificial intelligence technology.

• Retail
• Healthcare
• Entertainment
• Mobile banking and finance

The future is exceptionally beautiful! So what are you waiting for? Time to delve into the technology can avail as many benefits as you can.

Prerna Raj working as a Trending technologies consultant in a Custom software development Company - Tatvasoft.com