Building profitable customer relationships with AI
Within the next five years, customer centric organizations will gain tremendous advantages through AI customer experience strategies… and leveraging customer data and information. Source: Gartner
Tapping into the full potential of today’s consumer-empowered marketplace requires a complete view of the customer across the organization and touchpoints in every medium. Understanding what customers want, need and expect — and having the right people, processes, cultures, and technologies in place to respond in real time — is critical to the organization’s success.
By 2020, customers will manage 85% of their relationship with the enterprise without interacting with a human. Source: Gartner
The customer experience has emerged as a key differentiator for today’s marketers. A great experience contributes to customer lifetime value (CLV), a key metric in measuring the profitability of marketing efforts. An organization’s effort to improve the customer experience – by offering great service, attractive customer interfaces, and innovative solutions – depends on usage of the correct technological integrations.
Driving business in a customer-driven world
AI is now enabling organizations to grow as businesses and gain loyalty by better understanding and engage their customers by:
- making the customer the center of your business and IT strategy
- developing a customer-centric culture that lets you listen to your customers
- learning from them and being ready to adjust to better meet their needs
- building the business around customers through communication over AI enabled channels
Using AI to create a customer-centric organization
When mapping out a strategy, a company should ensure that it has the ability to benefit from AI driven processes. It is vital that the leaders of an organization and their employees are prepared to train and adapt, and are willing to understand and collaborate with intelligent machines. In creating an effective, comprehensive method for implementing AI driven processes, an enterprise must identify the correct manner of implementation and understand the components of successfully producing conversational AI. The organization needs to aggregate relevant data and have a responsive AI engine to interpret and adjust to customer needs, while continuing to refine the system throughout the process.
Rebooting business and the world
In recent years, economic and social pillars of the Industrial Age have come to the end of their life cycle and are being rebuilt around a new collaborative model. The advent of new media and a new economy driven by artificial intelligence processes has driven dramatic change and lead to breakthroughs in performance, customer engagement, and marketing. Artificial intelligence and collaboration are transforming the way firms both perform and compete, in areas from innovation to business analytics, knowledge management, and the customer experience.
Matching the pace of your customers
Competitors, regulators, social media, mobile technologies and a multitude of other factors drive change which your customers expect you to be able to keep up with. Your organization would prefer to set the pace of change. The key to keeping pace with organizational change and rising customer expectations is being able to recognize the different rates of change and executing a pace-layered approach to designing your processes, information, systems, and behaviors to deal with different rates of change. Contact us to learn more about AI based strategy throughout communication channels and experiences essential to building profitable customer relationships.