9 July 2024 |

Webinar Session 1 Insights

Outdated Surveys Out, AI In – Understanding Today’s CX Needs

 

Artiwise Presents CX+AI – Mastering the Future of Customer Experience Webinar Series! In our first session, Outdated Surveys Out, AI In – Understanding Today’s CX Needs, Ansı Rona shared exciting insights about how AI transforms customer experience and why traditional surveys are no longer sufficient to capture the true voice of the customer.

Here is a wrap-up:

Customer Expectations are Rapidly Evolving

Today’s customers demand personalised experiences, expect real-time responses, and prefer seamless omnichannel interactions. 

The first key point discussed was the importance of offering personalised experiences throughout the customer journey. A recent Forrester report highlighted that nearly three-quarters of customers expect businesses to recognise them as individuals. This means understanding their interests and preferences is crucial. 

Frustratingly, 76% of customers experience frustration with impersonal interactions, pushing them towards churning. Conversely, 60% of consumers are likelier to become repeat buyers after a personalised experience. Leveraging data-driven insights and integrating them into CRM systems can meet this demand effectively.

Secondly, immediate responses to customer inquiries and issues are now expected. A Forbes article showed that slow response times lead to 83% of customers feeling undervalued, potentially causing them to switch to competitors with faster service. Ensuring quick responses requires well-prepared staff, which can be achieved by investing in training programmes that equip employees with the skills and tools needed to respond quickly.

Thirdly, investing in connected customer experiences is vital. Today, customer interactions occur across various media, including websites, live chats, contact centres, chatbots, and social media.

 Customers want consistent, seamless conversations across these channels. Forrester’s research indicates that brands with strong omnichannel engagements retain 89% of their customers, compared to just 33% for those with weaker synergies. 

Conversely, 73% of customers will likely abandon a brand if their experience is inconsistent across channels. Ensuring all customer data is kept in one place and using communication platforms that allow smooth transitions between channels are essential to providing an effective omnichannel experience.

During last week’s London Tech Week, many businesses inquired about building chat services to provide immediate assistance. However, this effort is still lagging in many companies. 

To provide an effective omnichannel experience, all customer data must be centralised, and communication platforms should allow for smooth transitions between channels.

 

A Proactive Customer Experience Approach is Essential

Unlike reactive strategies that respond to issues as they arise, a proactive approach anticipates and addresses customer needs before they become problems. 

This requires significant investment in technology and employee skills such as storytelling, customer journey mapping, interpersonal relationships, communication, unstructured feedback, and predictive modelling. 

Demonstrating the return on investment (ROI) of these efforts is a major challenge. Forrester analysts noted a decrease in customer-obsessed companies in the United States, dropping from 10% to 3%, primarily because customer experience leaders struggle to show the impact of their investments to secure support from management.

One particular investment that stands out is the importance of real-time analytics by leveraging big data over traditional methods.

By using internal data and unsolicited feedback, businesses can model customer sentiment and predict behaviour without relying heavily on surveys. 

 

Predictive Modelling is a Game-Changer for Improving Customer Experience

Traditional surveys often fail to drive action due to their limited reach, reactive nature, and inability to identify the root causes of customer issues. 

Only a small percentage of customers typically respond to surveys, providing a restricted view of customer experience. Additionally, surveys capture past experiences and fail to provide real-time insights. Leaders need real-time solutions that address customer issues as they arise.

AI plays a significant role in modern customer experience management. 

By leveraging AI to utilise unstructured feedback from various customer touchpoints, businesses can gather and analyse data from sources like call centre conversations, social media interactions, and customer reviews. 

AI can predict future customer behaviours and trends, allowing companies to proactively address issues or capitalise on opportunities.

For instance, AI can predict which customers are at risk of leaving and address their concerns before they decide to go. AI-driven insights can transform raw data into clear, practical steps, helping businesses streamline processes and improve overall customer experience.

The Artiwise Voice of Customer Platform, an AI-powered solution, takes customer feedback strategy to the next level by adopting a holistic approach to gathering customer insights from multiple channels. 

By integrating insights from these sources, businesses can form a 360° view of customer interactions and take meaningful action to enhance customer satisfaction.

Embracing AI in Voice of Customer efforts sets businesses apart as leaders in customer-centric innovation. 

Real-time analysis and actionable recommendations allow companies to respond swiftly and effectively, continuously improving the customer journey. A powerful feedback loop, enabled by AI, ensures businesses always listen to and meet customer needs and expectations.

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