Artificial Intelligence - upcoming revolution
2020 seems so far away, but it is just around the corner. Now it’s time to discover and learn about the future of customer service to enter 2020 with a successful strategy. There are many factors which have a substantial impact on how successful the brand becomes, the primary purpose of your company is to have customers who will buy your product or service. The very first step is to create a concept and find the market, let’s agree we have done that. Secondly, the question is: how do we make the business stay and prosper?
Based on research, Customer Experience is the most exciting business opportunity of 2018 and by 2020 it will overtake price and product as the key brand differentiator. Excellent customer service experience has a very positive impact on your company’s revenue. By investing in customer service solutions, you can expect to improve customer retention, customer satisfaction and increase cross-selling and upselling in your company.
In one of our previous blog posts we explained how to make customer service succeed, but let’s have a closer look at the 2020 predictions. The information is from the Gartner Customer Experience Summit 2018 in Tokyo. Gartner is a leading research and advisory company which provides essential insights for business leaders.
“By 2020, 30 percent of all B2B companies will employ artificial intelligence (AI) to augment at least one of their primary sales processes.”
According to Gartner, Artificial Intelligence has a positive impact on effectiveness in business processes, used appropriately it can increase conversion rates up to 30% when engaging prospects or leads. It can be applied to different sales stages and provide the customer service faster on a bigger scale
“By 2020, more than 40 percent of all data analytics projects will relate to an aspect of customer experience.“
The most important is not the customers attitude about your business, but the level of trust and overall relationship with your brand. By gathering insights, you can understand, analyze and improve your business. The problem is that currently, companies are not putting enough focus on the aspect of customer experience. It leads to not updated nor optimized customer service, which has a negative impact on the brand, your revenue and the relationships with customers. Loyal customers are worth more and are easier to approach. Investing in building better relationships pays off with time.
“By 2020, augmented reality, virtual reality and mixed reality immersive solutions will be evaluated and adopted in 20 percent of large enterprises as part of their digital transformation strategy. “
Better experience stands for more satisfaction and good relationships with customers. The best way to achieve it, is to provide customers with new technologies. Give them an opportunity to experience the product or service in real time by using augmented reality. It can inspire them to check the product, remember it better and have some fun on the side.
“By 2022, two-thirds of all customer experience projects will make use of IT, up from 50 percent in 2017.”
IT is now, and it is the future. Currently, the number of digital channels, self-services or digital commerce interactions are rising, and moving away from human-based interactions such as face-to-face or voice-based (however, you should never underestimate human). Automation will become an inseparable part of the customer experience, and IT will become the driving factor in developing projects focused on improving customer experience.
The only way to be successful with your customer service is to follow up with trends or be the one who creates them. The primary purpose of development is to approach customers in the best possible way, provide them with quality customer service and always keep them satisfied. People nowadays want everything in their life to be efficient and pleasant.