The marketplace is complex and characterized by marketing messages, advertisements, and offers which can overwhelm consumers. Customers prefer receiving messages that are tailored, relevant, and timely. Companies like Amazon, Netflix, and Uber are cognizant of this and have taken the lead in providing personalized customer experiences.
These companies design bespoke customer experiences based on the past actions and behaviors of a customer, or how they predict them to act in the future. These offers are consistent across all channels.
What Possibilities Does Technology Avail in Terms of Customer Experience?
AI offers a host of intelligent technologies that can help organizations design personalized customer experiences. This ranges from demand forecasting, optimizing inventories, detecting, and intervening in case of customer dissatisfaction. AI and upcoming technologies can continuously learn and improve, collecting and analyzing structured and unstructured data to formulate and hypotheses in search of new customer insights. These intelligent solutions provide;
1. End to End Visibility
AI links marketing and supply chain management to create an enterprise that is more responsive to customer demands. This helps organizations optimize available resources. Having an integrated enterprise provides end to end visibility, which helps companies create personalized customer experiences.
2. Intelligent Agents
Chatbots can comb through volumes of data, providing customers with rapid responses to a wide range of queries. Intelligent agents significantly reduce the amount of time that customers have to wait before they obtain the action or information that they need. This helps companies improve their efficiency in handling customer queries by reducing call center volumes. Many businesses have also come to the realization that most customers prefer, are more active and open with intelligent agents like chatbots as compared to humans.
3. Intelligent Solutions
AI and other intelligent solutions can be used to gather accurate data and all other information that can aid in the designing and execution of personalized customer experiences.
4. Prediction of Demand
There’s nothing that damages customer experience more than a stock out. Machine learning and AI can be used to analyze internal sales data and external market trends to provide accurate and timely sales forecasts.
5. Prediction of Customer Needs
Both businesses and customers benefit when marketing campaigns are tailored to customer needs. AI and machine learning improve targeting, which makes brands more relevant. This improves customer experience as well as sales.
How Companies are Bridging the Gap Between Their Perceptions and What Customers Want
1. Better Information Management
Transforming rich data to useful information is critical for real-time marketing. Cognitive technologies can take raw data, transform it with powerful analytics, and then use these real-time insights to provide personalized offers.
2. Complete Customer Profiles
Creating complete customer profiles is a challenge for many businesses. How do you collect all this data across channels to create a holistic customer profile? Cognitive technologies are instrumental in the creation of personalized customer profiles.
3. Offline and Online Insights
How do you merge data from the web, social media, and traditional sources? In the past online and offline data was stored separately. AI and similar technologies easily tie up all this data to create bespoke customer experiences.
4. The Power of Analytics
Cognitive technologies are used in data mining, modelling, correlation, and forecasting. This provides businesses with powerful analytics to optimize customer experiences.
Since care is the new commerce, AI, and other intelligent technologies are not only instrumental in designing personalized customer experiences, but also eliminating organizational silos to optimize customer service.