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4 Ways Conversational CX Delivers Competitive Edge to Businesses

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In the dynamic world of customer experience (CX), conversational AI has emerged as a game-changer because it can elevate how consumers engage with brands. So, what exactly is conversational AI, and how is it reshaping CX?

Conversational AI is a blend of voice and digital messaging that empowers customers to resolve various issues without speaking to a live agent. The technology is positively impacting the efficiency of customer service departments, tech support domains, and sales teams that employ it in the form of chatbots, virtual assistants, and intelligent virtual agents (IVAs).

The beauty of conversational AI lies in its ability to facilitate two-way, humanlike interactions with customers, using a blend of natural language processing (NLP), machine learning (ML), deep learning, and contextual awareness. These two-way, humanlike interactions are central to what’s known as conversational CX. Conversational CX goes beyond transactional exchanges and provides customers with more personalized, convenient, and engaging experiences.

For example, some solutions utilize generative AI to take interactions between brands and customers to the next level. Mosaicx Expert, for instance, uses generative AI to understand customers’ questions and respond in a conversational manner with voice or chat.

Conversational CX can play a vital role in helping companies keep up with today’s competitive landscape. Here are four ways conversational CX can give your business a competitive edge:

No. 1: Deliver Self-service Capabilities

Conversational CX offers fast, seamless customer interactions through IVAs, empowering customers to resolve issues with self-service options. The evidence shows that a large share of customers—as much as 81% of them across all industries—prefer resolving certain problems rather than waiting on hold to speak to a live agent.

IVAs allow customers to receive instant, accurate responses to their inquiries any time of the day or night; no more waiting in long support queues or dealing with delayed responses. By catering to their needs promptly and naturally, conversational AI helps customers help themselves.

Delivering the self-service options customers crave can foster customer loyalty and advocacy because customers feel heard and valued. Loyal customers lead to higher lifetime value because they spend more, repeat their purchases and refer others to the brand. By cultivating a strong bond with customers through conversational CX, businesses build a formidable defense against the constant churn of the competitive market.

No. 2: Save Costs with Proactive Communications

Businesses can use conversational AI tools to deliver automated reminders to customers who have items in their online shopping cart but have yet to complete a purchase. These reminders can cut down cart abandonment rates, thereby directly increasing sales. It’s also important to note that organizations can brand these reminders to align with their voice and personalize them to be unique to the customer. After a set amount of time has passed, IVAs deliver cart abandonment reminders via text, email, or automated calls. To sweeten the deal, reminders can include a special offer alongside a link to the customer’s cart.

No. 3: Personalize Support

One of the most significant advantages of conversational CX is its focus on providing personalized support to customers. Oneway conversational CX delivers personalized support is through tools such as IVAs. IVAs have extensive datasets from previous interactions. Data might include:

  • Customer preferences (e.g., language, channel, etc.)
  • Pain points
  • Behavior patterns (e.g., requesting support at a particular time of day)
  • Purchase histories.

Virtual agents can analyze this data to personalize customer service, fostering a deeper and more meaningful relationship between the brand and the customer.

No. 4: Boost Employee Satisfaction

Happiness at work sells. In today’s complex labor market, top talent pays attention to various factors, not least whether employees say they like where they work. By enhancing the efficiency of day-to-day processes and reducing the demand for live agents to perform repetitive, high-volume tasks, conversational AI offers improved employee satisfaction and retention.

Strive for Conversational CX to Stand Out from the Pack

The versatility of conversational AI is evident across industries, from healthcare and finance to tourism and retail. Tools like IVAs can schedule appointments, offer tips, resolve queries, send outage alerts, and even help customers find special offers on the products they’re looking for. Offering customers seamless and natural interactions through conversational CX is a key differentiator in today’s crowded marketplace. Conversational CX is helping reshape the customer journey landscape while simultaneously elevating efficiency for customer service teams.

In all these ways, conversational CX is the driving force for success in today’s customer-centric world. The competitive advantage is yours for the taking.

About the Author

Rebecca Jones is the general manager of Mosaicx, a leading provider of customer service AI and cloud-based technology solutions for enterprise companies and institutions. Rebecca joined the West Technology Group, owner of Mosaicx, in January 2021, after a 25+ year career focused on growing businesses, people and client success. Rebecca also serves as a member of the board of the Families for Effective Autism Treatment (FEAT) of Louisville, KY, is an executive sponsor for Women of West, actively volunteers for The Molly Johnson Foundation that supports children with special needs, and champions causes promoting women in technology, including the IWL Foundation (Integrating Women Leaders Foundation), Tech Up for Women, and CCWomen.

 

Featured image was provided by Blake Wisz; Unsplash; Thanks!

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