In the always-evolving world of customer experience (CX), conversational AI heightens how consumers engage with brands. Conversational AI does so by enabling a fluid experience that keeps customers engaged and keeps them coming back. This engaging, fluid experience is known as “conversational CX,” and it’s reshaping the way decision-makers think about setting themselves apart from competitors.
Defining conversational AI: where technology and human interactions converge
Conversational AI facilitates natural communication with customers in real-time. It combines technologies - such as natural language processing (NLP), AI, machine learning (ML), deep learning, and contextual awareness - to deliver customer support and outreach via various channels. These channels include chatbots, virtual assistants, and intelligent virtual agents (IVAs), primarily in sales, customer service, and tech support.
The rewards of adopting conversational AI abound, starting with an improved customer service experience. Evidence suggests that 81% of customers try to resolve issues themselves before contacting a live agent. After all, when you get to the airport, do you wait in line at the counter, or have you already checked in online? The most frequent customer needs are ones that, given the choice, they’ll prefer to resolve by themselves. Customers can engage in seamless conversations with IVAs, swiftly resolve issues through self-service options, and eliminate the need for prolonged interactions with human operators.
Real world use cases
Conversational AI’s versatility is evident in use cases across industries. For instance:
- Healthcare: Patients can call a healthcare provider to schedule an appointment and receive automated reminders via text.
- Finance and Banking: IVAs can quickly identify customers based on their phone number, allowing agents to quickly access information (e.g., account status, balance, transaction history) and minimize wait times for the customer.
- Contact Centers: Conversational AI tools can resolve customer queries from start to finish and catalog customer preferences and behavior for future reference in personalizing service.
- Utilities: Utility providers can send outage alerts to customers with real-time updates on when service will be reinstated. These regular updates can help customers feel valued as they receive timely updates via their preferred channels.
- Retail: Proactively suggest products to customers based on past purchases and notify them of special sales, discounts, events, and promotions.
- Conversational AI is a versatile tool that resolves queries and tasks efficiently and contributes to a more profound sense of customer value and satisfaction. These examples demonstrate how conversational AI empowers businesses to establish stronger connections, deliver tailored services, and achieve conversational CX in today's dynamic and competitive markets by seamlessly integrating automated solutions with human touchpoints.
Two competitive advantages of conversational CX
Savings on both sides of the CX equation
In the bigger picture, CX extends far beyond things like the smooth resolution of routine tasks. It’s about keeping customers happy, reducing churn, and building loyalty toward the brand. Conversational AI is incredibly valuable in implementing proactive communication, such as member rewards programs. Businesses can keep customers in the fold by using personalized loyalty program messaging and proactively encouraging customers to use their rewards points to upgrade or renew.
Similarly, one business risk commonly associated with reducing human-to-human contact is losing the opportunity to upsell customers. But conversational AI equips agents to capture growth opportunities without having to divert customers away from automated self-service. Integrating conversational AI translates to cost savings on both sides of the CX equation: improving customer satisfaction, reducing churn, and reducing the demand for live agents in contact centers.
Payment Processing
Integrating conversational AI within payment processes and customer support significantly enhances and personalizes CX. By seamlessly integrating automated conversational interfaces, businesses can offer a convenient and secure method for customers to complete transactions using their preferred payment methods (e.g., credit cards, debit cards, checks). This simplifies the payment journey and empowers customers to easily access relevant payment details like amounts due and due dates through natural language interactions.
Furthermore, the proactive nature of AI-driven voice or text reminders for impending payments creates a sense of attentiveness, allowing customers to efficiently address any missed payments with a direct link for immediate resolution. In this way, conversational AI streamlines payment processes and fosters a more tailored and responsive customer engagement, ultimately elevating overall satisfaction and loyalty.
In a bustling marketplace where standing out is key, conversational AI is reshaping the CX landscape by empowering customers while simultaneously elevating efficiency for customer service teams. Now more than ever, companies should consider the competitive advantages - and, of course, the savings - that come with implementing conversational AI in their CX strategy.
Companies that offer exceptional personalized experiences can stand out in the crowded marketplace to attract and retain customers. Embracing conversational CX’s current and future potential can help create distinctive and memorable interactions that drive success in today's customer-centric world.
