AI is currently one of the biggest trends in today’s market. It can store enormous amounts of data on the Cloud with efficiency and speed that humans simply cannot attain.
According to a study by Teradata, 80% of participants report that their organisations already involve AI in their operations, in some or the other way.
Artificial Intelligence is unlocking the door to many new possibilities, from streamlining customer communication and support services to enhanced personalisation.
Artificial Intelligence offers seamless communication and fast solutions, automatically becoming one of the essential tools that drive customer retention and loyalty for an organisation. With something in store for every business to benefit from, it certainly is a bandwagon everyone can jump onto!
Here are some ways through which AI can drive customer loyalty-
- Unlimited availability
As opposed to any service that human customer support agents can offer, AI offers 24×7 availability. Today, nothing attracts a customer more than a company that is always at its beck and all.
Customer services that are AI-enabled offer customer support every hour of the day, all days of the week. This leads to concrete progress towards attaining higher customer loyalty and helps businesses maximise the scope of their opportunities all year round.
The induction of AI helps a business tremendously increase its online presence. This results in greater customer satisfaction and gives a competitive edge to the brand, further adding to its benefits.
- Increased personalisation and recommendations
One of the key contributors to customer loyalty is the kind of personalised services a brand can offer.
Offering buyers exactly what they are looking for adds to a company’s competitive advantages and encourages quicker and more purchase decisions.
Today, brands from varied backgrounds are collecting digital footprints of more and more of their customers in an attempt to anticipate their next moves. With AI, companies can establish one-on-one dynamics with customers, thereby leading to increased customer loyalty.
Brands can alter what a specific customer likes depending on the analysis that AI provides. This consequentially leads to higher customer retention as more and more buyers begin to put their faith in an organisation.
- Notifying and streamlining
Customer interaction efficiency is hitting a new peak every day as AI-enabled chatbots take over more and more businesses’ customer support channels. Their intelligence helps in improving the overall productivity of a company and reduces the waiting time that customers have to face to have their queries addressed. Evidently, it is a win-win situation for everyone!
One of the biggest drivers of customer loyalty is customer experience (CX). Today, according to multiple findings, customers are not only willing to experiment with new products from brands they believe in but are also ready to pay a bit more simply because of the CX offered.
AI chatbots don’t just answer simple questions. They are also capable of notifying customers about the status of their orders, sending out information about discounts and upcoming events and offering complementary services when needed.
Artificial Intelligence can make a business’s customers feel empowered and valued with its improved techniques of making the CX better. And, it can also help enterprises to cut down on their operation costs by a considerable scale.
- Encouraging better delegation of labour
AI tools ease down complex processes such as increment of sales, optimisation of resources and reduction of costs for companies, hence fuelling their progress in hitting their long term targets.
They facilitate refined customer support services by helping brands to create valuable and long-lasting personalised relationships with their customers, acting as the chief drivers of customer loyalty.
As simpler tasks get automated, employees can focus on tasks and issues that demand human involvement. As labour is more intelligently employed, the efficiency of an organisation increases manifold, and it is able to achieve more meaningful goals.
- Boosting customer loyalty with AI-based programs
AI algorithms are capable of self-learning based on data collected. For example, each time a customer purchases an item or leaves a review, the self-learning algorithm records it. Later, these touch-points are revisited by the AI itself, to draw a specific set of conclusions about every customer.
These conclusions become the foundation depending on which consumer personas are created. Once consumers are broadly segmented by age, location and things they are most interested in, the incentives that a company is willing to offer to them can be personalised at a more intricate level.
This creates a path for companies to design their loyalty programs, tweaked in ways that best suit their customer’s preferences. The loyalty incentives can be rewarded to customers online, even in real-time, right when they make a new purchase with the brand.
- Call recording and call routing
As Artificial Intelligence systems consistently get better and more effective, the facilities they provide to help ease a business’s operations increase in number.
Most AI-based customer support services can be made capable of both, Call Recording and Call Routing features.
Since all calls that customer support receives get recorded, a lot of useful data can be fished out by revisiting them. This data comes to be of great help in creating personalised services for customers and in strengthening customer retention.
Call Routing is a feature through which AI connects customer calls that demand agent support specifically to agents who can solve particular problems. This leads to a better delegation of calls received, lessening the volume of calls that need to be attended by a single employee.
Employees can save time by attending only calls they can cater to and invest their energy in matters that need more attention. This also helps customers feel more capable and provides them with solutions at a much faster pace.
- Eliminating pain points
A critical factor that shapes the overall CX is the pain points or hiccups a customer faces through their journey of purchase-related decisions with a company.
Artificial Intelligence deepens customer loyalty by actively detecting and eliminating all potential pain points in the customer journey.
An in-depth evaluation of customer data can help a brand understand its customer’s behavioural patterns and, depending on the same patterns, make predictions about what a customer’s future decisions will look like.
Once a broad idea of future moves is formed, all obstacles can be weeded from the CX.
AI tools mark every vital piece of information that can lead to better design ideas for a brand’s products and services. This leads to improved prospects of customer loyalty.
Analysis of customer behaviour dramatically influences how a brand gauges its preferences and ascertains its likes and dislikes. A thorough understanding of customer expectations paves the way for a better consumer-company dynamic and allows broad predictions of their future choices.
A clearer picture of what the customers will probably demand from a business in the future can help a company start working on the betterment of its CX.
A better CX will add bonus points to a company’s image amongst its customer base and its primary competitors. This improvement will eventually result in much stronger customer loyalty, proving AI’s necessity in helping modern businesses grow.