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Embracing AI-driven solutions isn’t just a trend—it’s a strategic imperative for businesses looking to stay ahead. But what do customer experiences in the age of generative AI look like? And how should you plan for the future?
No matter your industry or what applications you rely on, creating a customer-centric experience is always a top priority. With artificial intelligence (AI), new ways of serving customers while meeting their expectations and improving loyalty are rapidly evolving.
The generative AI market was valued at over 10 billion dollars in 2022, and it’s expected to be over 190 billion by 2032. With no signs of generative AI slowing down, finding ways to incorporate it into your overall customer experience strategy is a critical differentiator when staying competitive.
In this post, we’re diving into what customer experiences in the age of generative AI can look like, including trends, customer expectations, and ideas on implementing generative AI into customer interactions.
Are You Meeting Customer Expectations?
As an organization, you know that increasing customer retention (and reducing customer churn), brand loyalty, and user experience are crucial to your success.
So, what do your customers need to improve those things, and how can you create more positive customer experiences with AI?
First, consider the following:
- 97% of consumers and 98% of contact center managers say customer service interactions impact whether consumers stay loyal to a brand.
- 88% of buyers say experience matters as much as a company’s products or services.
- 54% of consumers say brands treat customer service as an afterthought.
- 70% of Americans crave more profound, more personal connections with brands.
These stats indicate that your customers want more from their experience with your company. If you’re wondering where AI fits into this equation:
- 94% of leaders say AI can enhance customer self-service.
- 57% of customers prefer to engage companies through digital channels.
- 52% of consumers prefer chat, making it the top digital channel most customers prefer.
Customer Experiences in the Age of Generative AI: What’s Hot?
When looking for ways to create an outstanding customer experience in the age of generative AI, it’s hard not to notice the things getting a lot of buzz, like ChatGPT.
There are many ways to incorporate generative AI into the digital experience with your company, so let’s look at a few options.
Generative AI algorithms can examine customer data, preferences, and behavior to produce tailored recommendations for products or content. This empowers customers to uncover items or services pertinent to their needs, resulting in heightened engagement and satisfaction.
Additionally, AI-powered generative models enable businesses to craft personalized marketing campaigns focusing on distinct customer segments, delivering messages and promotions customized to their interests. This not only boosts conversion rates but also elevates overall customer satisfaction.
#2. Chatbots and Virtual Assistants
Generative AI empowers chatbots and virtual assistants, enabling them to offer real-time assistance to customers. These AI-driven entities are adept at addressing frequently asked questions, delivering support, and engaging in natural language conversations to resolve issues, thus swiftly enhancing customer service efficiency.
Moreover, generative AI plays a pivotal role in language translation and localization, facilitating the expansion of businesses into global markets. Delivering precise and efficient translation and localization services guarantees that customers from diverse regions can easily access content and support in their chosen languages.
#3. Natural Language Processing (NLP)
NLP models can scrutinize customer feedback, reviews, and social media discussions, extracting valuable insights.
Companies can leverage this data to effectively define customer segments, tackle customer issues, refine offers, and elevate overall customer satisfaction.
#4. Predictive Analytics and Sentiment Analysis
Generative AI models can predict customer behavior and preferences. Data can be analyzed quickly, insights identified, and decisions based on customer needs.
For example, it can analyze customer sentiments from text and voice data, allowing your company to gauge customer satisfaction levels and identify potential issues in nearly real-time. This enables proactive problem-solving and improved customer service.
It can also improve the customer experience for the next time a person calls in by helping the agent learn what they did well in one conversation and how they may be able to improve in the next.
AI in Quality Analytics can show an agent an example of what a great interaction sounds like and more importantly, exactly where they opportunity to improve so they can have real, focused feedback based on similar calls versus generic recommendations from a supervisor or peer.
Implementing Generative AI for CX
Companies can incorporate generative AI at customer journey touchpoints to meet customer needs better and improve overall customer satisfaction. While making all these changes at once may not be feasible, companies can start where they see the most potential impact for creating a better customer experience.
Since your goal is to improve your Net Promoter Score (NPS), trying too much too fast may have the opposite effect —degrading the overall customer experience.
Using AI to drive automation and efficiency is crucial to improving customer experiences in the age of generative AI, as it enables you to offload repetitive tasks to technology. By freeing up those resources, they can focus on more complex tasks, address customer pain points, and add greater value to customer interactions. Ultimately, this leads to improved overall customer satisfaction and customer lifetime value.
Many companies are adopting Intelligent Virtual Agents (IVA) to leverage generative AI and offer an enhanced user experience.
For example, an IVA can generate a summary of what has occurred between the IVA and the customer so that when there’s a need to speak to a live agent, there’s no need to explain the scenario. This is just one example of how generative AI can create a seamless customer experience.
Customer Experiences in the Age of Generative AI: Stay Ahead of the Curve
The age of generative AI is ushering in a transformative era for customer experiences, and businesses can’t afford to lag. Your customers expect personalized, efficient, and meaningful interactions with your brand.
However, implementing generative AI for customer experiences is not a one-size-fits-all approach. Companies should carefully consider where and how to leverage this technology to make the most significant impact while maintaining a customer-centric focus.
BridgepointeCX can help you determine the best possible strategy to reap the benefits of generative AI and improve customer experiences with your brand.