Dec 21, 2021
Today, customer intelligence is more important than ever. It’s no secret that the businesses that effectively track and analyze their customer behaviour have a significant advantage over their competition.Â
However, as the digital landscape continues to evolve and new technologies emerge, so too does customer behaviour. Companies are now tasked with knowing their customers better than ever before in order to deliver an experience that is tailored specifically for them.
The old model of web analytics has not kept up with these changes. Click rates, page views, session lengths and other metrics do not capture customer needs accurately.
With the rise of conversational AI, businesses are able to track and understand their customers better than ever before. Conversational AI provides unprecedented insights into customer behaviour throughout every stage of the customer journey. This ultimately helps to build a loyal customer base, which is so important in today’s day and age.
The Customer Journey
The customer journey provides a framework for understanding how customers interact with the brands across different touchpoints. By mapping out the customer’s journey, businesses can identify areas where they need to provide a better experience in order to keep customers coming back. Additionally, understanding customer journeys in depth can help businesses to create more effective marketing strategies to attract new customers and cross/up-sell to existing customers.
What is conversational AI?
Conversational AI is a new technology that enables machines to have human-like conversations with users, as opposed to simply providing data. Conversational AI has been around for some time now and was first introduced through chatbots offering customer support on platforms such as Facebook Messenger. More recently however the development of conversational interfaces has become more widespread, moving beyond customer service and into other areas such as retail, banking and travel.
The reason conversational AI is proving so popular is because it offers a more humanised experience for customers, which in turn leads to better engagement and conversions. Conversational AI allows customers to interact with a brand in the same way they would with another person, through natural conversation. This makes the customer feel more comfortable and relaxed, which in turn leads to them being more likely to open up about their needs and wants.
This is a huge shift from the traditional way of interacting with customers, where brands would use data-driven methods such as surveys or questionnaires. Conversational AI allows for a much more personalised experience, as it takes into account the user’s individual preferences and needs.
Customer Intelligence through Conversational AI
Thanks to conversational AI, Businesses no longer have to rely only on the old model of web analytics. With conversational interfaces in place, your customers are now expressing their real intentions using natural language. All of this data provides businesses with unprecedented customer intelligence that can be used to truly understand their customers and improve the customer experience across all touchpoints.
Understanding the Customer Journey
Conversational AI is the perfect technology to help businesses understand customer journeys in depth. Conversation AI is not just sitting in one place of the customer journey, it’s available throughout the customer journey. It’s omnipresent. It also provides a way to engage with customers one on one basis helping businesses gather large amounts of conversational data.
This allows markers to gain insights into how and through which channels customers first engage with their brands, which questions and inquiries are made regarding products/services before conversion. Additionally, conversational AI can also help track customer behaviour on post-conversion stages helping businesses identify any areas that may need improvement.
Conversational analytics is truly useful in creating effortless customer journeys and more effective marketing strategies to improve ROI.
Understanding and Evolving Products and Services
Conversational AI provides an easy and convenient way for customers to provide feedback about a product or service. It can help businesses to understand what features work in products, which features need improvements and which features to get rid of.
Conversations can also be used as a tool for customer feedback both before and after the purchase, allowing businesses to evolve existing features or create entirely new features based on direct input from their customers. This is a huge advantage for businesses as it allows them to quickly test and iterate on new features without having to spend time or money on developing something that may not be successful. By using conversational AI, businesses can avoid costly mistakes and focus on creating products and services that their customers actually want.
Conversational AI can also provide an insight into why customers don’t convert or complete the desired action; whether it’s because they aren’t interested in the product/service, didn’t understand what was being offered or found another alternative that suited them better. Businesses can use these insights to better align their products and services with customer needs.
We help you proactively engage with your customers through a meaningful conversation!
Conversational AI is an intelligent way to understand customer needs and create better products. Arithmix provides a conversational AI platform that can help you track your customers’ journeys, interact with them in natural conversations, and evolve the features of your product or service at every stage of the customer journey. If these sound like things you need for your business, give us a call! We would love to chat about how we could partner with you on this important part of your business strategy.
Arithmix AI Team
Business Growth Amplified!