According to Accenture, a brand that provides personalized services and experiences is preferred by 75% of customers. To enhance personalization in services, brands are progressively employing solutions with artificial intelligence.
To customize a product or a service so that it reaches its intended recipient is managed technology by paving the way for organizations. The key to personalization includes delivering carefully crafted content in the appropriate channel and impeccable time to the right audience. It provides a mass opportunity for brands to engage and reengage with their customers.
A majority of customers indicated they are more inclined to purchase from a brand that offers tailored services and experiences based on individual preferences which were found out by Accenture back in 2016. There is a heightened emphasis for leading retailers to deliver services and experiences rather than just selling products based on a study by Forrester Research. The days where brands cast a wide net of generalized offers and deals to bait a pool of customers in hopes of a lucrative catch are long gone.
Artificial intelligence (AI), big data, and natural language processing (NLP) are the presently emerging technology. These are giving brands the upper hand of selecting the precise bait for the right catch. By consolidating data streams of multiple channels, harnessing the insights of collected data, and identifying actionable strategies, AI can help brands deliver personalized content, services, and experiences. AI can gather streams of data from a host of channels following a cycle from raw information to actionable insights. This includes transcripts from chatbots, customer service hotlines, and review sites.
To gain a holistic view of consumer behavior, shopping trends, and many more, analysis of information via NLP is done. To deliver tailored content, services, and experiences that resonate with consumer expectations, brands can churn data into strategies subsequently. With customer engagement at the forefront, there are a handful of examples of companies across various industries that are thriving in AI-based personalization.
Swisscom is a Switzerland-based telecommunications company aimed to provide customers with a more personalized experience. To understand customer behavior better to help its employees also. The company enlisted a cloud-based solution to achieve these goals by developing a platform that would help. To communicate in their customer base languages such as English, French, Italian, and German, a front-end content management system was employed by Swisscom. It would allow them to easily navigate through the website via various devices.
Vital data such as the number of visitors, sales, downloads, and uploads are also tracked by cloud-inspired tech. They are used to boost customer services, resulting in an average of 40% in improved performance.