Companies that lead in customer experience outperform those who don’t by an impressive 80%, while 84% of companies that make efforts to improve their customer experience enjoy a significant increase in their revenue.
In the era of ubiquitous connectivity, customers are more spoiled for choice than ever, with an eager competitor ready to fill the gap left behind by lax organisations, at just a click of a button. If you are keen on driving up revenue, maintaining customer loyalty, and establishing your company as a leader in your field, consider embracing the following technologies to take customer experience to the next level.
AI For Improved Customer Journey Analytics
Customer journey analytics aims to analyse customer experiences across all touchpoints: these include the acquisition, activation and adoption stages. The latter is the ideal goal for most businesses. Customers who have reached this stage, after all, incorporate the company’s products or services into their work or life habits, and thus, a loyal customer is created. One technology that is driving the advances in customer service is Artificial intelligence (AI). AI is revolutionising the customer experience through the analysis of big data, the use of bots to answer clients’ doubts or queries, and upgraded customer relationship management (CRM). When used alongside AI, CRM information can convey the specific services required by clients, which makes the experience swifter, smoother, and more cost-effective.
Natural Language Processing
Natural Language Processing (NLP) helps computers understand human language or unstructured text via syntactic analysis. Most communication experts will tell you that the manner in which people speak is sometimes more important than the words they use. NLP can be used in various ways, including sentiment analysis (to determine the nuances of a client’s comment – is it positive or negative?); chatbots (to give answers to unexpected questions or anticipate the next query); and speech-to-text technology (so your company can have the full script of conversations that have taken place).
Robotic Process Automation
Robotic Process Automation (RPA) is a new technology that navigates enterprise software systems such as Field Service Management (FSM) software by using interfaces as human beings would. A recent McKinsey report indicates that both RPA and AI improve customer experience by enabling a bevy of repetitive tasks to be automated, enabling employees to spend their time on deep thinking and creative tasks. RPA can save a company between 40% and 70%. RPA can improve customer service in two main ways: by gathering information from various sources to automate repetitive tasks, and by assisting in routing customer calls to the specific team that can answer their query or solve their problem.
Technology is leading the way in improving customer experience through technologies such as AI, NLP and RPA. These technologies aim to solve customer issues fast, but also to understand the nuances of language and tone. With research showing they can bring significant cost savings, these technologies should clearly be given top priority by companies wishing to stand out for outstanding customer service.