What is AI for customer experience?
Customer experience (CX) covers every interaction that your potential and current customers have with your business, which can lead to either positive or negative associations with your overall brand. This journey starts when a customer first lands on your website and includes navigating your user interface, making purchases, and interacting with support services.
AI-powered customer experiences utilize AI technologies like machine learning, conversational applications, and chatbots to enhance the efficiency of every customer touchpoint. AI-powered customer experience solutions can help process large amounts of data quickly, enabling businesses to meet their customers' needs efficiently.
Why should businesses use AI to improve customer experience?
AI customer experience solutions offer unique benefits to businesses and customers alike. Companies can use AI to deliver the proactive, personalized service their customers want, when they want, or even before they know they want it. Most digital-native companies like e-commerce, ride-hailing services, and over-the-top (OTT) media services already use AI and technology to support proactive and personalized customer engagement through self-service tools, new interfaces, dynamic interactive voice response (IVR), and chat. Increased customer engagement results in increased cross-sell and up-sell opportunities, while reducing the cost-to-serve with AI solutions. According to McKinsey research conducted in 2020, AI technologies have the potential to deliver up to $1 trillion of additional value each year.
Here are a few specific ways that AI-powered customer experiences generate value:
Create deeper customer connections through personalization
Deliver highly personalized experiences using AI-powered solutions. Analyze customer data and preferences in real-time to serve up product recommendations, personalize customer interactions, and deliver high-performing marketing campaigns based on customer behavior. Personalized recommendations and tailored services based on predictive models enhance customer satisfaction, loyalty, and retention rates.
Improve customer satisfaction with predictive analytics
AI empowers businesses to utilize predictive analytics for anticipating customer needs and behavior. By examining past data, AI algorithms can recognize patterns, trends, and potential customer preferences, enabling businesses to meet customer requirements proactively. Anticipate trends with predictive analytics to deliver timely offerings and services, enhancing customer experiences with insightful solutions.
Offer scalable customer support with self-serve chatbots
Self-serve chatbots enable businesses to scale their customer support operations efficiently, handling multiple inquiries simultaneously without added human resource costs. AI-driven chatbots empower customers to discover solutions immediately and independently via FAQs, instructional materials, and interactive utilities. Chatbots offer cost-effective, scalable solutions that ensure a consistent level of service for customers. Chatbots directly improve customer satisfaction with 24/7 availability for customer requests and reduced wait times.
AI solutions in Catalyst for boosting customer experience
Providing a committed customer experience with AI solutions in Catalyst can create a domino effect of benefits for your business. Here are a few ways Catalyst AI solutions can help you enhance your level of customer experience, leading to improved customer satisfaction, loyalty, and advocacy:
Offer 24/7 customer support with a conversational AI solution
From e-commerce enterprises to banks and insurance companies, businesses across industries can harness the power of AI to craft compelling customer experiences. Whether they're offering seamless, 24/7 customer support or deploying automated chatbots for streamlined claim processing, AI-driven solutions elevate customer satisfaction across industries. Catalyst ConvoKraft lets you build chatbots with advanced natural language understanding (NLU) capabilities that accurately comprehend the context of customer interactions, providing personalized and relevant responses. With continuous learning and refinement, ConvoKraft adapts to each customer's unique needs and preferences, resulting in a more satisfying and personable experience.
Capitalize on customer analytics to predict customer behavior
You can analyze the likelihood of a prospect becoming a customer, identify the types of products most likely to be bought by a customer, pinpoint the products that can be up-sold to a customer, and much more with AI-powered customer behavior predictions. You can even take advantage of customer analytics to prevent or reduce churn proactively. Using QuickML, you can develop a model that predicts the likelihood of customers unsubscribing or downgrading their product, service, or subscription in the near future. Your model can provide insights for the sales team to prevent at-risk accounts from churning.
Sales recommendations powered by personalization engines
Machine learning models built on Catalyst QuickML can analyze customer data and behavior to propose tailored products or services, distributing recommendations directly to inboxes via marketing automation tools. This level of personalization enhances the shopping journey for customers, increasing relevance, and ultimately driving sales for businesses.
Improve employee productivity
Reduce agent burnout by automating mundane and repetitive tasks so employees can focus on more challenging aspects of customer service, such as solving complex requests or providing personalized support. Build conversational AI solutions with Catalyst ConvoKraft that work along with human reps to alleviate the burden on human customer service agents, allowing support agents to focus on higher-value tasks and deliver better customer service.
Understand customers better with sentiment analysis
Track support ticket requests and gauge user sentiments from each interaction with your brand. Sentiment analysis in Catalyst helps scan customer feedback, detecting positive, negative, or neutral sentiments.
Resources
Explore our comprehensive resources section tailored for anyone looking to dive deep into Catalyst AI solutions to transform customer experiences.
Catalyst QuickML help documentation