It is well documented that AI has already played a key part in transforming the way companies function. From marketing departments to the admin processes, automation is here to stay. Whilst we have already identified the five key ways that AI has transformed business processes, there is another area where AI can promise even better and bigger profits. With technologies like ours here at Jaggu, companies can use the gathered data and insights to improve the experiences of their customers. Here are the five key ways that AI is transforming the consumer journey:
1. Standardised customer communication
Manual consumer communication is often inconsistent, relying on the good humour and energy of the customer service assistants. Often we are put off returning to a company if we have had a bad encounter with their customer service team. The benefit of AI chatbots is that although they are trained to understand emotion they are not flustered or affected like humans are. Bot communication will be accommodating and of high standard across the board- ensuring that no one customer receives a different level of service than another.
Another plus of this automated service: it never sleeps. AI gives customers a fully 24/7 type of assistance—something most companies would not be able to previously offer due to cost and staffing.
In this age of immediate gratification customers are simply not willing to wait till business hours to get answers to their pressing questions. AI makes this level of service immediately and consistently possible.
2. Inspiring self-service
These automated chatbots create a sort of ‘self-service system’ that make it easy for consumers to ask detailed questions and get accurate answers that ensure they are able to continue along the buying journey. Brands like Amazon consistently rank at the top of satisfaction indexes whilst relying heavily on self-service- suggesting a clear connection between strong self-service capabilities and award-winning customer experience.
Done well, self-service not only boosts the customer experience but also increases sales and efficiency. Providing timely information makes consumers more likely to buy while deflecting queries from more expensive channels (such as the telephone or email) means that brands can reduce their costs.
This AI removes the need to wait for an available customer agent and allows customers to take control of their own simple problems. This process can feel empowering which in itself is a way to ensure repeat business.
3. Personalisation
AI can ensure that all content the consumer encounters is personalised and specific to context. With the ability to comprehend Big Data- brands are able to find out all that is relevant about their customers wants and needs.
Companies like Spotify use our history to make recommendations that are specific to us- gleaned from the AI’s knowledge of what makes kind of music and genres make us tick. In this way AI is helping brand’s deliver personalised interactions in real time, engaging with their consumer proactively and anticipating their desires.
Companies can also use this AI analysis to create personalised content- grounded in the emotions and realities of their consumer base. Understanding who your customers really are- how they feel, and are interacting with one another, will help companies produce content that actually engages and resonates with your target audience.
In this way AI is creating a personalised catalyst for winning over existing and potential consumers.
4. Text and video sentiment analysis
Visual engagement with text and voice sentiment AI analysis will help brands measure the emotional states of their customers . Here at Jaggu, we can use our video analysis technology to understand facial expression in video chat conversations or even in-store.
By augmenting this process companies can determine how to route communications and resolve issues in real-time, identify what leads to consumer satisfaction and what might potentially disappoint. In this way, AI can assist companies in delivering positive sentiments that increase their own company values- which in the long term will lead to repeat customers and more revenue.
5. Streamlined decision making
In a more general sense, AI is creating a paradigm shift in terms of decision making. The power of AI has paved the way for a new type of decision-making process. Whereas before companies relied on intuition and expertise to make business decisions, AI has made it much easier to continually back decisions up with data. Everything from a product review to the creation of a new customer service becomes informed and scientific- eliminating the margin of error or waste.
PWC recently created a report that used AI gathered from the US Census Bureau, US financial data and other public licensed sources to create a large-scale model for financial decision making of 320 million US consumers.
As AI continues to grasp the intricacies of changing consumer behaviour, marketing decisions will grow to become more accurate and persuasive.
