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This article will help you understand what is customer experinece, The importance of customer loyalty nowadays, and how artificial intelligence is driving better customer experience.
Artificial Intelligence’s definition
Check out this article to learn more about Artificial Intelligence: Artificial Intelligence trends.
Understanding customer experience?
Customer experience is your customers' overall view of their interaction with your company.
CX is the outcome of every engagement a consumer has with your company, it can be in a Digital way. Check out this article to know more about the digitalization of Customer Experience.
From exploring the website to contacting customer support and receiving the product or service they purchased from you.
Everything that you do influences your customers' perception, thus providing an excellent customer experience is critical to your success.
The importance of customer loyalty
Loyal customers tend to shop regularly due to positive experiences they had with your business.
This will automatically make them spend more money than new ones because they already trust the products or services you are offering, which will generate profits easily.
Although, loyal customers generate higher conversion rates. It can go to 70% while new customers have a conversion rate from 5 to 20%. You also need to know that retaining existing customers is easier and cheaper than customer recruitment. It is surely important to gain new ones but it is more expensive and needs more effort.
4 ways ai is driving better customer experience
Artificial Intelligence assists in gaining a deeper knowledge of the customer:
Technologies made the world go further and facilitate human tasks and journeys, same as AI, it's continuously evolving and improving from the data it analyzes. This empowers businesses to provide relevant content that is adaptative to their target audience and helps to improve the customer journey.
Predictive Behavior Analysis and Real-Time Decision Making:
AI and predictive analytics can go beyond historical data, providing deeper insights to facilitate a sale through recommendations for related products and services, making the CX more relevant and most likely to result in a sale.
AI and Chatbots:
Chatbots; the leading application of AI is being used today. It facilitated the tasks of businesses by always responding to their needs without being confused when customers change the subject. Chatbots became relevant in a way it can jump from topic to topic. This is how it helps in a better CX.
AI and personalized solutions:
When talking about personalization, we are talking about content. Personalized content can have the form of conversational one. AI solved this problem with 'Conversational AI' to provide a personalized experience to customers.
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