AI-powered Customer Experience leads to exponential growth

In today’s highly competitive and constantly changing environment, companies that prioritise their customers’ experiences tend to outperform their competitors. Of course, high customer satisfaction has always been a key metric to measure and is an expected but sometimes challenging standard to reach. Now, with the use of Artificial Intelligence (AI), more companies can create personalised, efficient, and engaging customer experiences. This has led to a surge in AI-powered customer experience solutions. But how does the adoption of AI lead to growth?

AI-powered customer experience

The impact of AI on customer experiences shouldn’t be underestimated. By analysing your customer data, AI-powered systems can give you valuable insights into customer preferences, behaviours, and needs, allowing you to create personalised experiences for each customer. This personalisation can range from targeted marketing campaigns and  customised product recommendations to tailored communication strategies that resonate with your customer’s unique needs and preferences.

A good example of a company that has leveraged AI to create personalised customer experiences is, Amazon. Amazon uses AI-powered recommendation systems to suggest products to customers based on their browsing and purchase history. The system uses machine learning algorithms to analyse vast amounts of data and make personalised product recommendations that are relevant to each customer.

24/7 customer support

AI-powered virtual assistants have also made significant impacts on businesses. Domino’s Pizza have implemented AI-powered chatbots that allow customers to place orders through voice commands. This not only creates a more convenient customer experience but also reduces the workload for customer service representatives, allowing them to focus on more complex tasks and activities. These AI-powered chatbots can provide 24/7 customer support, answer questions, make recommendations, and resolve issues in real-time, creating a seamless customer experience.

Cost reduction

The use of AI in customer experiences has also led to cost savings for businesses. By automating routine tasks, companies can reduce the workload on their customer service teams, resulting in lower staffing costs. Obviously AI-powered chatbots and virtual assistants can handle a high volume of customer inquiries simultaneously resulting in reduced wait time, increasing efficiency and overall improving the customer experience.

Conversational commerce

Using AI really can be transformational and open up new ways for a business to interact with its customers. By providing personalised experiences you can not only create stronger relationships with your existing customers, leading to increased satisfaction and loyalty, you can also generate AI-powered new business.

Yell developed an AI-powered chatbot to guide customers to the information they needed, and through an ongoing conversation could then match a merchant/business to the customers need and handover over the customer details to the merchant/business owner to respond via the Yell Business app. Effectively matching a customer need with a business in a convenient and seamless way.