Customer expectations today have significantly changed. Businesses must adapt to their demands to develop a trustworthy relationship with their customers and gain a competitive edge. Customer Experience officers are exploring opportunities to leverage conversational AI tools at all the touch points to minimize the CX gaps.
The retail industry has undergone a tremendous digital transformation for a few years. Businesses of all sizes and types in retail have to embrace digital channels in their marketing strategies to accomplish their goals. Since the start of the pandemic and its aftermath, online channels have suddenly spiked, offering businesses opportunities to scale exponentially. Even B2B enterprises must embrace digital channels to penetrate a wider target audience. Clients today expect 24/7 customized services over products. Conversational AI significantly revolutionizes retail by converging physical and digital purchases into an integrated channel. Many big enterprises have embraced AI-based conversational chatbots to enhance online and offline customer experience.
Also Read: Ways Big Data Impacts Digital Marketing
Reasons to leverage conversational AI
-
24/7 Availability
Clients today have multiple channels available to interact with the brands. Moreover, they expect the brand to offer services 24/7 to resolve queries and concerns. Customers feel less valued if they wait for a response or resolution. To bridge the customer experience gap across time zones and offer answers to customers24/7, retailers can integrate round-the-clock self-service tools like AI-powered conversational chatbots and voice bots to resolve customer queries and grievances in real time. The top conversation AI devices will promptly respond to the customer’s product or service-related questions without needing a human being to interfere.
-
Get Valuable Insights Through AI Data-Mining
Retail industries usually have huge amounts of traffic at any given time. Hence retailers generate a huge amount of data through each inquiry, service request or purchase, etc. This data mine has valuable insights that decision-makers can leverage to optimize business operations. Implementing conversational Artificial Intelligence assistants will enable enterprises to gather, evaluate, and derive useful insights into client behavior depending on previous interactions. The top AI-based conversational chatbots have inbuilt intent analysis techniques. Valuable, actionable insights gathered through AI data mining will offer a holistic view of future market trends that helps decision-makers to make strategic changes.
-
Offering a Phygital CX (Merging Online & Physical Retail)
Customers today need a physical and digital experience based on their requirements and preferences. Various retail vendors have embraced technology and strategies to offer a phygital customer experience to their customers. Leveraging conversational AI in both physical and digital channels will enable organizations to enhance the customer experience will be critical for retail in the coming time. The best conversational AI will deliver a consistent CX regardless of their preferred channel. AI-based conversational chatbots interact with the clients while going through the inventories, offering discount coupons, promotional deals, and other seasonal offerings.
-
Interactive Content Consumption
One of the significant trends that the retail sector should follow is utilizing content to optimize profitability. Retail business owners can make the most of the mobile-first approach by promoting their products on digital platforms and other social engagement channels.
AI-based conversational chatbots streamline the process of deploying video-driven retail successfully.
-
Cost-effective Operations
Integrating conversational AI tools enable organizations to automate tedious and mundane tasks such as data entry, order processing, transcription, etc. It is one of the most efficient ways to reduce resource workload. Customer experience teams of retail organizations can use the saved time and effort to interact with customers and focus on their needs.
-
Operational Excellence
From streamlining the order processing or monitoring them, conversational AI systems help drive operational excellence with their inbuilt automation capabilities. These tools can even find the data human employees need in real-time to offer customers a better and more unified experience.
Also Read: Four Ways to Enhance Customer Experience in Today’s Competitive World
Ways Retailers can Bridge the CX Gap Leveraging Conversation AI
-
Customer Intelligence
Conversational AI tools are designed to get insights into client behavior by identifying their needs and preferences. By leveraging conversation AI, retailers can determine t what percentage of clients’ shop for a specific product range, price, and much more to meet customer demands and hence, beating competition.
-
Lead Generation & Management
AI-based conversational Chatbots and virtual agents engage clients and gather their feedback by conducting quizzes, surveys, and other feedback collection strategies. Retail business owners can send customized recommendations, gather leads, nurture them, and develop a trustworthy relationship with them. The best AI tools will help generate high-quality leads for potential buyers. Implementing AI-based chatbots will interact with the customer and spot the best-selling opportunities. Based on the possible purchase capabilities of the lead, AI solutions will customize a sales approach that matters.
-
Aftersales support
After-sales support will be one of the most beneficial aspects of leveraging conversational chatbots in the technology stack. AI-powered chatbots can offer 24/7 customer service throughout all the devices and preferred channels of the customer. The top conversational AI tools enable organizations to stay connected with clients and address their queries and grievances to enhance CX and after-sales productivity.
Conversational AI tools open tremendous opportunities for retailers to leverage; developing conversational systems based on three Ts – Training, Tuning, and Testing is essential. Enterprises that cannot abide by any of the T’s might not have the expected results and harm the brand image.
For more such updates follow us on Google News TalkCMO News.
