We’ve discussed before how data analytics is driving key customer experience improvements. In this post, we’ll be expanding on this idea by exploring a similar theme—namely, how AI-driven predictive models can transform the customer experience and, in so doing, increase revenue.
But as we’ve also discussed in previous posts, reaping the rewards of AI initiatives can be tricky. Unsure where to start? Read on for three essential steps for doing exactly that:
1. Gather Data from Multiple Sources
Traditionally, AI has been used to predict customer buying patterns, including what items people are likely to buy or how much they are willing to pay for a product or service. The next generation of AI applications will take this a step further, gathering data from multiple sources to provide a contextual, timely, and accurate predictive model. Real-time customer feedback, demographic research, social media, and messaging applications are just a few examples of data feeds that can provide brands with relevant information.
2. Apply AI to the Customer Journey
Using AI to understand how customers experience their journeys allows businesses to deliver a more optimal experience at the next interaction. Let’s take a mobile phone carrier as an example. If a particular customer has been going over his data usage limit for several months, the customer service center can arrive at an AI-driven prediction that he might be interested in changing his plan to one that offers a higher data allowance.
3. Trigger Actions to Improve the Customer Experience
AI can also help companies intervene if factors arise that may result in a negative customer experience and take personalized action at the individual level. For example, a clothing retailer may predict that a customer will be interested in a particular item but also that it will be unavailable in her particular size. Rather than waiting for the customer to discover this herself, the company could guide her to a different item that is available even before she logs onto the site. This “micro-targeting” can reduce customer churn and allow companies to take actions that continuously optimize the customer experience on a personal level.
Head over to Forbes for more on what we can expect as the future of AI-driven customer experiences unfolds.