How Artificial Intelligence Will Power Smarter Customer Communications
By Simon Tindal, CTO of Smart Communications
From voice assistants like Amazon’s Alexa and Google Assistant to behavioral algorithms, chatbots and self-driving cars, artificial intelligence (A.I.) has quickly become a hot topic in tech news. While we may not know exactly how this emerging technology will continue to impact our daily routines over the next few years, there’s one thing we can bank on – it’s here to stay. PWC predicts that A.I. will contribute $15.7 trillion to the global economy by 2030. In addition to the economic shift, consumers are becoming more comfortable and, in some ways, increasingly dependent on A.I. Think about the last time you asked Siri to call a contact or asked Alexa to place an order on Amazon. A.I. can be so seamlessly integrated into our day-to-day lives that sometimes we don’t even realize we’re using it. So, what impact will this technology have on your organization’s relationship with your customers? Here are a couple of ways we can expect A.I. to power smarter customer communications.
Better Meet Customer Expectations
Today’s customers are increasingly in control. They can easily gather the information they need – and they expect near real-time responses to their questions. According to Hubspot Research, 90 percent of consumers feel that an immediate response is important when they have a customer service question. Make them wait longer than 10 minutes and you risk testing their patience! Voice-assistants and chatbots are available 24/7, so clearly, they can play a key role in reducing response times and better meeting consumers’ expectations. When customers speak to a representative to discuss a statement or file a claim, they don’t want to wait days for the requested forms or a follow-up. They want the issue to be resolved at the moment, and more agile and scalable solutions, like A.I., can deliver this —in less time than it takes to compose a tweet. A.I. technologies can also be used to help customers conduct the research they need to make more informed decisions, which helps them feel in control throughout all stages of their journey.
Increase Opportunity for Personalization
Imagine saying “Alexa, when is my auto policy renewal due” or “Hey Google, ask my insurance advisor what total vehicle loss means” and instantly receiving relevant answers from trusted providers. A.I. represents a significant step forward in transforming customer communications into personalized conversations. Also, let’s not forget about the power of data. We now have an incredible opportunity to connect data with valuable insights, which fundamentally changes the way we can reach and engage our customers. Therefore, more businesses are turning to cloud-based solutions, such as Smart CommunicationsTM to better manage their customer communications by easily connecting all of their data, applications, and history to build conversations that are relevant, timely and impactful. Now that we can anticipate behaviors based on historical data with customers, businesses can better understand the impact of their customer communications more clearly and leverage trends to evolve these interactions into meaningful, personalized conversations over time.
The SMARTer Way to A.I.
According to the MIT Sloane Management Review, almost 85 percent of executives believe A.I. will enable their companies to gain or withstand a competitive advantage. But only one in five companies has incorporated A.I. in some offerings or processes. The truth is, companies can’t afford to put A.I. on the backburner for much longer. As customer expectations continue to evolve and communication channels continue to expand, businesses will need to be prepared for a new set of challenges and opportunities. Embracing a modern Customer Communications Management strategy is key for businesses that want to incorporate multiple channels while still delivering a personalized experience for each customer. It’s important to be mindful that a customer’s interests and needs change as they move through their customer journey with a company. This also means their communication preferences are likely to change several times. Having the right mix of communication channels in place will help keep your business ahead of digital transformation and will strengthen your relationships with your customers.
Not sure where to begin when it comes to incorporating A.I. into your customer communication strategy? Contact us and one of our experienced communications experts will help you get started.