Businesses now realize the need for a customer-centric approach to transforming their customer experience (CX). According to the Zendesk Customer Experience Trends Report 2021, 75 percent of company leaders agreed that the global pandemic accelerated the acquisition of new technologies to get customer-centricity right.
But, there are challenges too.
However, in the digital-first world, social messaging is the dominating communication channel consumers are using to interact with brands. Forward-looking businesses are tapping this trend to their advantage using industry-ready AI chatbots to manage customer-centric interactions and forge customer relationships online.
Superior Customer Experience is a Necessity
While adopting the latest AI technologies to improve customer relationships, it becomes imperative for industry leaders to keep an eye on the latest customer engagement trends. Here are a few reasons that explain why a top-notch customer experience is the need of the hour:
AI-powered chatbots are capable of preserving information across several digital touchpoints and even when it transfers the conversation to a live agent, customers don't have to explain their issues repetitively. Such availability of information across the channels helps businesses provide a consistent omnichannel experience to their customers. This experience helps businesses save time for customers and amplifies the customer engagement graph.
Another success metric for businesses is to consistently improve their brand value in this digital competitive arena. Brand loyalty involves an intrinsic commitment of a consumer to a brand based on the distinctive values it offers. Hence, it becomes an obvious reason for CXOs to leverage a Conversational AI technology that enables instant, relevant responses helping brands provide improved experiences and differentiation.
The biggest success for brands is to acquire new customers and expand their customer base over time. Providing instant prompts with offers, product recommendations, and guiding customers through their conversational journeys enables businesses to broaden their reachability and increase conversions.
Intelligent AI chatbots are fast becoming key enablers to customer support and conversational commerce teams and are instrumental to improving the end-customer experience landscape.
Why are AI Chatbots not a “One-Size-Fit-All” Approach?
AI Chatbots are not a “one-size-fits-all” solution. No two brands have the same business needs, so no two chatbots can be the same. An all-in-one solution that goes right for all the business functions sounds like a myth. Hence, the approach has to be changed as per the business use cases while building and training an AI chatbot.
When catering to customer support and conversational commerce use-case, the “One-size Fit-all” approach is not able to solve all customer queries. The responses will sound generic to customers and increase dissatisfaction. Hence, the right approach is to replace this with the best and most common industry use-cases to improve efficiency and conversions.
Here are a few problems that remain unsolved with the one-size-fit-all approach:
NLP: The Technology Behind Intelligent Conversations
While it is established that a domain-specific, AI virtual assistant is core to enabling superior customer experience, it's important to understand the technology behind it.
To understand the pain points, intent, and expectations of a customer in a conversation between a bot and a customer, NLP is the behind-the-scenes technology that makes the magic happen.
Natural Language Processing (NLP) is a subsection of Artificial Intelligence that enables chatbots to understand human languages. NLP analyzes the customer query, language, tone, intent, etc., and then uses algorithms to deliver the correct response. In other words, it interprets human language so efficiently that it can automatically perform end-to-end interaction with accuracy.
Key Capabilities that NLP provides:
Intelligent AI chatbots are now critical to strengthening a brand’s CX strategies. As cognitive AI-powered technologies continue to develop, business leaders must ensure they adopt chatbots technologies that are agile to meet the requirements of their businesses.
Key Capabilities a powerful AI Chabot Should Have
An AI-powered full-stack Conversational AI platform enables brands to comprehensively solve business problems end-to-end, and at scale. While looking to adopt a conversational AI solution, some of the key characteristics which CX leaders should look for are as follows:
CX Trends to Look out for in 2021
While the above-mentioned capabilities of Conversational AI sound interesting and intriguing, it is only the tip of the iceberg. Technology has just entered the digital space and is expected to evolve further with time. Talking about the same, here are the top four customer experience trends businesses might come across in 2021 and beyond.
CX transformation is a catch-all phrase that means something different for every business. There should be different strategic approaches when it comes to deploying AI-powered technologies. However, it is established that a simple AI chatbot will not deliver the kinds of experiences that a Conversational AI solution can enable.
In case you’re interested to explore more, here’s an eBook we’ve put together that shares the experiences of a diverse set of CxOs as a part of their journey to identify feasible, realistic solutions to solve the challenge of repairing a broken customer experience and scaling high-volume customer queries with AI Automation. Get your copy here.
Join us in our journey to transform Customer Experience with the power of Conversational AI.