Today’s consumer has more power than ever before. No matter the product or service they need, they have options and they choose to do business with companies that offer personalized and relevant experience. Though this may not come as a surprise, what is particularly shocking is that, according to Forrester, only 23% of organizations claim to have a customer-centric organizational structure.
Customer centricity is about more than satisfying your customers. Business as usual is simply not enough. You’ve got to look at your customer’s journey holistically, through their lens, and empower each of your employees across your organization to “wow” your customers at every touchpoint. From your website, to sales, to support — your customer needs to feel appreciated and like their experience is unique to them. This means providing your team with the customer data such as preferences, interest and spending habits, resources, and autonomy to offer an exceptional customer experience. Trust me, you’ll be glad you did.
A study done by Deloitte and Touche found that truly customer-centric companies were 60% more profitable than those which were product- or channel-centric. Here’s the reality:
- Customers with positive experiences spend 140% more compared to those who don’t
- 86% of customers will pay more for a better experience
- Loyal customers are worth up to 10 times as much as their first purchase
The organizations that are leading the digital age are the ones that have built a customer-centric culture. They understand their customers’ context and intent, they use data-driven insights to offer innovative and relevant experiences, and they have the technology in place that enables them to continuously evolve.
So, how can your organization become more customer-centric by delivering a personalized experience at scale, in a way that motivates your employees and impacts your bottom line? Three words: AI-powered search.
A recent Forbes article by Blake Morgan explores three great use cases for artificial intelligence that help to embrace a customer-first mindset and improve the customer experience by putting the customer at the core and delivering value at every touchpoint.
Many Customers Enjoy Chatbots And Virtual Assistants
[…] Many companies have created tasks with existing virtual assistants and chatbots so their customers can streamline their interactions with the brand. […] Instead of having to waste time on the phone, customers can now communicate with simple voice or text commands. These devices are time-saving and help companies keep up with customers’ busy lives.
With the demand for self-service on the rise, it’s increasingly more common to see organizations leveraging chatbots to drive better self-service. In fact, 8 in 10 decisions makers said they either already use, or are planning to use a chatbot by 2020 to alleviate support costs. While chatbots are a great way to communicate with your customers at scale, don’t count on them alone to satisfy your customers. Before implementing a conversational interface, here are some things to keep in mind:
- Have a clear and defined purpose for your chatbot
- Keep your expectations limited to simple interactions
- Avoid siloing your chatbot interactions away from the entire customer journey
Customer-centric organizations respect their customers time and preference to self-serve. There are plenty of great ways AI can streamline your customers interaction with your brand and chatbots should only be considered as one component of your self-service strategy.
The Use Of Personalization Improves Customer Experience
Personalization is also a huge advantage to AI in customer experience. […] Modern customers expect offers to be tailored to their needs […] AI and machine learning can sift through millions of pieces of information to find out exactly what matters to customers to create a personalized experience.
Your customers are growing accustomed to getting what they need at a click of a button. They simply don’t have the patience for frustrating experiences and will be quick to take their business elsewhere. Fortunately, with AI-powered search, you can ensure their business stays with you. Delivering personalization at scale starts with unifying your company knowledge and content into a single index.
Once your information silos have been broken down, all public-facing content is findable by your customers. Usage analytics give you a better understanding of who your customers are and allow you to track trends and customer behaviours. Through machine learning capabilities you can see what has helped others like them to recommend content that’s relevant to their context and intent in that given moment.
This type of personalization makes your customers feel like you know them, rather than feeling like just another visitor on your site. When done right, this increases customer engagement, conversions and overall satisfaction. When ignored, this has a significant impact on your bottom line.
Improve future experiences
Customer Insights Bring Important Findings For Businesses
[…] Using the vast amount of data that is available on customers today, AI can find trends and predict what customers will want in the future. […]. Spotify used AI to sort through the data and highlighted some of the most unique customer trends on billboards around the world […] Many other companies use AI to gain customer insights to improve future experiences.
Your data helps to paint the big picture of what your customers will need next. Every interaction brings the image into sharper focus. Your customers are showing you what you need to serve them better, you just need to look for it and take action. It’s imperative to look at what your customers are searching for and what content they’re engaging with to improve future experiences but what’s equally important is looking at what they’re searching for and not finding, which highlights content gaps. Your data holds the key to future success.
AI gives you a comprehensive view of your customer insights that are otherwise a black hole and are critical in humanizing your digital experience. With such comprehension you can identify potential new markets to explore, discover products, services or features your customers are searching for and make them part of your roadmap and you can remain innovative and steps ahead of your competition.
With your customers at the core of your business, and data-driven insights informing your next steps, you’re sure to improve future experiences.
While AI is a buzzword, it truly has the ability to transform your customer experience. Medallia, a leading enterprise feedback management software, has leveraged the power of AI across its support organization to improve agent proficiency, enhances its customer experience and drive its Net Promoter Score up by 5 points in one quarter alone.
See how they’re doing it and how you too can use AI-powered search can help you navigate your journey to becoming a true customer-centric organization.