Customers’ expectations for better service continue to rise, and the quality of your customer service can make or break your business. So, why are these expectations increasing? Understanding the root causes will always help create an effective solution. Here is the backstory.
2020 highlighted the importance of customer service as brands worldwide faced numerous calls from their distressed customers. There was also a widening range of issues, thanks to the disruption of their operations. Customer care was tested like never before during the global pandemic, and brands were pushed to try new ways to enhance the digital experiences for their current and prospective customers. More than the products and services, the customer care offered by the brand defined customer acquisition and retention.
Today, conversational AI is the secret ingredient for brands to communicate with their customers and significantly change their relationships. It is a secret, not because many are unaware of it, but because people know how it works and its impact on your brand once it is appropriately integrated. Considering that the Conversational AI market is expected to grow to $13.9 billion by 2025, it’s clear that many organizations have already recognized its value and potential.
Gupshup’s CEO Beerud Sheth, VP of marketing, Srinivas Vijayaraghavan, and Product Head of Conversational AI, Niyati Agarwal, discuss Conversational AI and why it has become such a crucial deal for brands nowadays.
Although customer support is one of the most critical aspects of a business, it often doesn’t get the attention it deserves. Most companies compromise customer service because they think that it’s an expensive investment. Today, building and sustaining a brand is all about knowing your customers. It has always been like this, but consumption habits have been evolving due to the rise in technology and the plethora of available choices to a consumer, especially social media. If you are a brand or are planning to launch one in the market soon, you have to ride all the latest trends to keep up with the needs of your consumers.
One of the contentious topics that brands have to deal with is whether to employ human agents for customer support or go ahead with AI-powered conversational technology. Conversational technology in customer support means the use of chatbots and virtual assistants to assist customers. Listen to the CEO of Gupshup, Mr. Beerud Sheth, and VP of Marketing, Mr. Srinivas Vijayaraghavan, talk about how conversational technology in customer support can amp up your brand name.
The rise of digital smartphones, messaging apps, and the ongoing pandemic have significantly impacted the food and beverage industry in the past year. Social distancing ensured that most people used online platforms to order food from restaurants. Though it is considered a very relaxed approach, consumers do miss the experience of in-house dining. Restaurants thus need to make the ordering process as smooth and effortless as the dine-in experience for their customers.
Listen to Gupshup CEO Beerud Sheth and VP of Marketing Srinivas Vijayaraghavan as they discuss how the pandemic and the rise of digital smartphones affected the consumers’ dining experience here.
Understanding how consumers make brand decisions and buying choices is a tremendous asset for any company. This is especially important for businesses that want to increase their customer base with low acquisition costs. Conversations lead to results by driving business impact. The data speaks for itself – 33% of consumers would recommend a brand that provides a quick response (Nielsen-McKinsey)
This is because prospects are looking for specific information before making a purchase. More often than not, they do not wait to get their questions answered. Immediacy becomes not just merit but a necessity. With decreasing attention span of consumers and increasing expectations from brands, consumers tend to make the most of the stiff competition in the market and do not hesitate to shift preferences. Brands lose both visitors and existing customers when conversations are not built and nurtured carefully.
The sheer demand for cutting-edge technology in the logistics and supply chain industry is at an all-time high. According to McKinsey, the logistics industry can generate up to $2 trillion every year in economic value simply by adopting conversational AI.
The idea behind conversational AI in logistics is to automate repetitive processes and attempt to eliminate human errors. In this article, we’ll examine the many ways conversational AI is revolutionizing the realm of logistics and supply chain and discuss its use-cases in the practical world.
With changing times, every business is leaning towards using a conversational chatbot to engage with customers. Artificial intelligence is the fuel for this revolution to benefit every industry. Chatbots and virtual agents will raise a billion customer requests autonomously by 2030, according to Gartner experts.
But, what they forget are the security concerns with using such technology. Allow us to highlight the troubles and the counter-measures to address them. But first, let’s understand what conversational AI security is.
Customers’ primary way of communication with businesses has long been and continues to be a voice. However, the shift to chatbots is a prominent trend. Without robust conversational AI capabilities, no chatbot is complete. Chatbots that can closely simulate the experience of engaging with a human agent.
Most notably, Interactive Voice Response (IVR) technology has improved the efficiency of companies though, IVRs have irritated customers. Because it forced customers to choose from inflexible menus and non-access to a live agent, over 60% of consumers believe “IVR technology makes for a bad customer experience.”
Companies now have a method to give customers the versatile and responsive voice interaction they desire at half the cost of an offshore call center, thanks to advances in AI and automation in recent years. Companies may reinvent voice experiences thanks to conversational AI.
With refurbished technologies and ever-growing digitalization, the real estate industry faces constant changes. It becomes challenging to cope with enhanced customer expectations for high-quality services with an ever-increasing workload. Although nearly every industry employs chatbots today, it takes much more for a real estate industry to provide such unrestricted functionality.
Conversational AI (Artificial Intelligence) offers virtual assistants diverse capabilities and acts as a virtual interface in the real estate ecosystem. Let’s discuss how conversational AI leverages customer service efforts and how to make the most of it in the real estate business.
With the increasing customer demands for better business service, it becomes a must for online businesses to solve customers’ queries to ensure consumer loyalty. Earlier, an assigned person would handle the calls and give solutions for the customers’ questions. It soon became a cumbersome and time-consuming process for both the customer and business owner. This marked the rise of chatbots for nearly every business due to their unprecedented efficiency.
Today, nearly 80% of businesses use a chatbot for offering customer services. Chatbots have been becoming prevalent over the last couple of years. They are capable of being useful in different scenarios across industries. The customer service industry was to be revolutionized, and the invention of chatbots has made it achievable. They are now considered the future of customer service. For new businesses looking to invest in a chatbot, the Natural Language Processing (NLP) technology-based chatbots will fuel their profits by responding professionally as per the customers’ intent.