Conversational AI bots are gaining massive importance in the retail, banking, insurance, healthcare, IT, and other spaces reliant on voluminous customer exchanges. In an increasingly connected world, the necessity to unify communication touchpoints is fundamental to customer success management.
If you keep employees happy, they work better to keep customers successful, which makes you more profitable for the long run.
Integrating AI-powered chatbots or voice bots into your business plan is a sure-fire way to stay ahead of competition, fostering great customer experiences via seamless technology enabled engagement between your brand, and its prized customers.
Observing the customer journey and understanding their changing requirements can help you find the technology needed to surpass their expectations and deliver excellence.
A chatbot for business can improve interactions and help customers avail your support and services faster, in real-time, and without any hassle. Improved customer retention leads to enhanced growth opportunity for your business.
Customer retention and engagement with conversational bots help maintain key sources of revenue, by promoting customer loyalty across many other areas of business as well.
Although the advancements in AI & ML now present BaaS (Bot as a Service) capabilities to handle both back-end and front-end consumer and employee-facing operations, the most widely appreciated use cases of AI-enabled chatbots and voice bots are in customer service, sales, insurance, retail and marketing automation.
Considering that 60% of consumers have engaged with a chatbot in the last year, by 2022 we could be interacting with intelligent bots more frequently than with our human counterparts. The insightful Salesforce State of Service report indicates that out of 7000+ global services industry leaders surveyed, 88% of service teams stated that the COVID-19 pandemic exposed gaps in their existing technologies. The report also revealed that 64% of customer service teams with AI chatbots are on average, spending more time solving complex problems compared to 50% of customer service teams not using chatbot solutions.
Conversational bots can intuitively help customers make better purchase decisions and solve their queries without minimal human intervention. Hence, the adaption rate of Bots as a Service (BaaS) is on a steady rise. These chatbots and voice bots use conversational insight via Natural Language Processing (NLP) and Natural Language Understanding (NLU) to communicate effectively with customers by studying the intent via interactions mastered over time with self-learning capabilities.
The best part is, AI powered bots don’t need a large capital or continuous ongoing investments, or human intervention to run smoothly, all they handle is voluminous customer requests in real-time, presenting a scalable solution to tackle some of the most pressing business challenges of the modern day.
Intelligent routing functions of bots can easily handle complex customer queries instead of live customer service agents, or other concerned parties through contextual understanding and responses. This makes business so much faster, easier, and more appealing to a wider audience across any time of the day, and location.
In this post, we jot down 5 awesome features of conversational AI for customer retention and client success management.
Let’s get into the must-have elements of conversational bots to know why customers demand the best Bot as a Service solutions for seamless time and cost savings, improved with flexible AI & ML capabilities integrated with IT.
So, what are some advanced features of conversational bots for effective customer success management? Here are 5 AI use cases you can leverage for your organizational efficiency.
A great advantage of AI is the ability to build chatbots and voice bots that are trained to suit your unique customer personas, adjusting their conversational maturity based on the intent of each interaction. This means, they learn human behaviour via customer interactions and apply data-driven algorithms to personalize each conversation.
By collecting user data, processing requests in real-time, at a high velocity and scale, AI helps respond to customer needs faster, and observe behavioural patterns to make the customer journey that much more personal.
If you want to take care of your customers well, you must ensure that they feel at ease when interacting with your business. That’s when they stay for longer and come back to you in the future.
Just like human interaction, for a conversational bot, self-learning capabilities and mastering the intricacies of language via machine learning integrations, are fundamental to enhancing the customer’s experiences.
If the machine can learn from experiences, the more you can earn by automating rigorous processes and handling over strategic tasks to employees. It is a chain reaction of profitable endeavour when the right technology fits the right buckets to fulfil your evolving business needs.
Voice bots and chatbots with emotional intelligence have revealed new breakthroughs in the field of Machine Learning and Artificial Intelligence. Emotional intelligence in conversational AI refers to the ability of intuitive bots to empathize, interact and connect with the customer pursuing the core objective of building a relationship.
This means, you do not need to have customer agents employed round the clock to run your offshore operations, instead, employ one Bot as a Service solution as the interface between your business and its customers.
Using sentiment analysis, conversational bots can be taught to notice emotions in any interaction, understand the customer intent and provide resolutions based on historical data on human behavioural patterns.
Machine Learning allows computers to learn from the most natural conversational experiences, and in this case, from each conversational exchange with a customer, the bot becomes more prepared to face similar situations in the future.
Among the most useful capabilities of chatbots and voice bots, the ability to perform complex reasoning without any human input leads to optimized customer success management efforts. Instead of manually inputting FAQs and random call handling scenarios, the bot can modify existing knowledge bases and provide insightful data about the overall customer experience.
Fromer CIO and Vice President of Dell, Jerry Gregoire said “Customer experience is the next competitive battleground.” He stressed on the build-up of a shift to AI revealing new ways to emphasize and improve human-technology experiences.
Facebook, WhatsApp, Telegram, Skype – are all important tools for survival with the emergence of the digital age.
Being away from social media is like avoiding 71% of all customers you could potentially acquire, nurture, and retain. Hence, your conversational bot should be present across all channels where your customers are most active.
When customers can reach out to you on any platform of their choice, they would love to engage with your ideas more frequently and promote your value among their peers. Also, you reach out to more people when every communication pathway and customer interaction with your brand is unified and hassle-free, but accessible across multiple devices as well.
Omnichannel funnels are excellent because your customer learns that everything to do with your brand is accessible in an effortless way, whether it is helping with purchase decisions, or availing additional services like loyalty programs. Take the example of Amazon, whose multiple services ranging from ecommerce and drop shipping to video and audio streaming services, are consolidated with one brand identity that resonates with an expansive group of consumers globally.
An example of how conversational bots empower businesses with omnichannel engagement models is via smart messaging and multi-lingual interfaces, text, accents, and tones suited to appeal to any specific customer persona.
Read about “How Conversational AI is Reimagining Customer Experiences in Retail and eCommerce” – Technovert’s feature blog with key industry insights on leveraging conversational AI for better customer experiences.
By providing a single system that caters to variety of customers with varying concerns, your business gains credibility among diverse groups and cultures, and gains velocity in the ever-changing market.
Omnichannel experiences are treasured by customers everywhere, and your business will benefit from a strategy that meets customer demands with round the clock service availability, and newer products to discover.
The ability to integrate your conversational AI solution with apps like Zendesk, Salesforce, Dynamics 365 CRM Solutions, Google Sheets, and other productivity tools to improve employee and customer experiences is gaining widespread attention. Unifying productivity tools and multiple software integration capabilities creates a high-performance product to consolidate various functions and enable ease of work.
Leveraging AI-powered Digital Workplace Solutions, you can embed a modernized solution to enable enhanced customer success management, employee productivity and stress-free in-depth analytics.
At Technovert, we support native as well as custom integrations across a variety of enterprise software and cloud-based platforms. For example, our Data Science experts strategized a Fortune 500 Insurance Service Operation to “Develop and Deploy Order Planning Process with Advance Analytical Models.”
You may download the Data Science case study for ‘Order Planning Process’ here to get a detailed representation of technologies used in the solution.
Integrations with third party applications like Salesforce and Dynamics 365 is a core offering many businesses are looking for. Management of your BaaS architecture with Technovert’s industrial and tech stack expertise is an open invite to businesses looking to leverage digital disruption for growth.
By reducing human workload, conversational AI bots offer powerful insights, analysis, and reporting functions to monitor trends and engage your business plan to retain more customers, promote loyalty and create more room for advocacy that brings in profitable returns on every customer interaction.
If you would like to jump on to this wave of digital transformation, use our AI expertise to power up your customer success initiatives.
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