Building Customer Loyalty with Artificial Intelligence
In an age where there are countless number of posts and articles announcing the end of customer loyalty, we see things a bit differently.
First things first — its never just about the price of your product or service.
Customer focused rewards to retention concepts prevalent until now are set to do a shape shift. The reward will now primarily start with the engagement format; the ease of it, to be precise.
Customers need service, and if e-stores can deliver on that by efficiently understanding their needs & preferences, creating custom experiences for every individual that visits their store, you can only imagine how the interaction will build thereon.
Call me old school, but I do believe that there is a certain charm and connect to the basic conversations that happen when you visit your neighbourhood store, which in turn subconsciously works towards your affinity to the setup, over and above the other obvious checks of convenience, accessibility, etc.
Artificial Intelligence (A.I.)in e-commerce has already been implemented in limited capacity wherein one sees similar product recommendations, pricing related recommendations, etc. A.I. has a different avatar in offline stores, wherein it takes on a more IoT approach to customer engagement, using sensors, RFID and other in store tracking mechanisms to engage customers at all points in the store.
However, the true capability of the technology is now coming to the fore with deep learning and real-time natural language text input processing allowing e-commerce businesses to leverage real time customer information in addition to existing customer data and preference history. This helps e-stores to engage in meaningful interactions that are supported by never before seen user experiences that ensure in a major increase in converting user visits into actual sales.
Customers MAY return to your store because you offer them discounts. However, they WILL return to your store time and again because you know them and their needs at each moment in time. It comes down to how efficiently you understand their requirement and service it.
Strong Customer loyalty will be built because they will always be able to do things easily and efficiently on your website.
a. You as a store / enterprise will be able to relate to them and understand them online and respond to queries with highly customised messages.
b. Customers will be able to quickly see products and easily get items suited to and recommended as per their specific needs by means of bot help.
c. They will be able to chat away with your AI powered nlpbot in natural language while they shop, as they do with their pals!
d. Brands will be able to respond to thousands of simultaneous ‘custom’ interactions with their customers in real-time and globally with the same efficiency, thus establishing a strong customer service focused image.
NLPBots is one such product powered by natural language processing and machine learning, that is focused on making intelligent shopping assistants available to e-commerce enterprises globally.
Every online business entity should be always ‘available, listening, constantly learning and adapting to the customer requirement in real time as a result of that learning’ in order to build strong customer retention. This is what this technology embodies.
Integrations are a closely monitored, heavily customised, inclusive process of training the indigenous classifiers available with NLPBots so that every businesses unique data and workflows are understood. Once trained, the system is capable of automatically building on its intelligence, based on everyday natural language interactions and ongoing business data references, to be able to handle customer conversations.
The result — your A.I. will know your customers and their needs, analyse trends and make predictive and responsive recommendations as well as engage with them in real time to address on site tasks, thus making your business that much more preferred and loved, while giving you a ringside view of all that happens (or may happen) in your business.
Of course, not to forget the huge amounts of analytics and cost savings that comes by default with the technology.
Guess it’s time to get a bot for the store front.
Originally published at www.linkedin.com.