Thursday, March 30, 2023

power of data

Businesses have more customer information at their fingertips than ever before. Now is the time to manage these rapidly growing data sets and use them to provide each customer with exactly what they need. Machine Learning and Artificial Intelligence (AI) enables this efficient operation at scale and can be used in Customer Experience Management (CXM) to optimize processes and enhance customer satisfaction in a targeted manner. Based on a machine learning model, this AI can read and assign customer information even before the first individual customer contact, enabling better “person-to-person” communication with targeted marketing measures. This not only saves time, but also improves customer satisfaction and contributes to the long-term success of the company.

The customer sees the company as a whole. Even after making a purchase decision, care should be taken to develop a relationship with the customers. Expectations, needs and wants must be recognized in order to respond accordingly. Machine learning is able to evaluate the underlying signals and invite customers to build a relationship with a brand.

In addition to increasing customer loyalty, this means increased sales in the long-term plan, as the right offers can be made to the right people at the right time. In addition, automated processes sometimes make it possible to use employee capabilities in the right place.

For many, the question arises as to the concrete approach to achieving an optimal customer perspective and thereby building a stronger bond. For example, instant messaging chatbots are a widely used tool that allows customers to interact 24/7. The advantage lies in both the flexibility and speed of the tool, especially for routine inquiries and recurring concerns. Powered by machine learning, bots are not only able to react to what is written, but are also able to consider potential past purchases and position in the current customer journey. It enables a personalized approach with personalized recommendations and content.
AI enables complete analysis of all customer conversations and thus helps in optimizing customer approach with less effort. When customers give consent to record phone conversations, valuable insights can be gained from those conversations. The AI ​​can recognize behavior patterns and based on this automatically suggest recommendations in real time. These patterns can also serve as the basis for training.

This is an article from our print edition 6/2022. Order a free trial subscription.

Finally, it should be said that while AI can provide a huge competitive advantage in CXM, it should not be used spontaneously. Applications require a certain amount of data and must be trained to evaluate it in a targeted manner. However, if the use of AI is considered in a long-term plan, highly personalized experiences can be created and customer loyalty can be strengthened.

Image Source: Medallia

Nation World News Desk
Nation World News Desk
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