May 10, 2023
Author: Julia Voloshchenko, PR professional and Editor-in-Chief of the Usetech blog. Expert in media relations and branding. I write about technology and business.
To make interacting with delirium comfortable and memorable, many companies are resorting to using new technologies in their work processes. This helps to automate routine tasks, relieve specialists, and improve the quality of services provided.
Artificial intelligence is no exception. The use of artificial intelligence can improve the level of customer interaction, make it more reliable and automated.
According to Gartner, businesses will implement an average of about 35 AI-based technologies into their workflows. And 70% of that will be technologies related to customer interaction.
“By leveraging AI to create personalized customer experiences, we can provide customers with precisely what they need when they need it. And when folks feel that a business understands their needs and preferences, they’re more likely to stick around long-term.”
— notes Daniel Kroytor, Founder and Director at TailoredPay.
In this article, we’ll look at 4 reasons to help you decide on implementing AI in your business.
One of the benefits and attractions is personalized customer service. That’s why businesses are adopting AI to improve customer service and increase sales.
Of course, nothing can replace live, human interaction, psychological and emotional support. However, chatbots with artificial intelligence can be great helpers for your business.
Today’s technology makes bots more “human” and personalized. Their undoubted advantage is that they can work 24/7, which allows you to always be in touch with customers — existing or potential.
“Many companies are implementing AI chatbots to power communications and understand the customer experience. Doing so allows teams to use advanced sentiment analysis to spot gaps and train chatbots to solve them.
And because AI chatbots work 24/7, consumers can hold conversations via text input or button options. From opening up a line of credit to resetting their password, chatbots provide fintech companies with a simple and seamless way to set the bar higher.”
— notes Daniel.
In addition, the AI allows you to remain “human” even in correspondence or exchanging comments. For example, Daria Erina, Managing Director of Linked Helper, comments:
“Most email or LinkedIn outreach tools help you schedule multiple touches (messages, letters), especially the initial outreach. This is a huge time saver. But the challenge is to stay human and personal, because an automated approach is off-putting. That’s where AI comes on stage. For example, in Linked Helper, campaigns are wired in a way that they keep sending automatic messages until we receive a reply. The tool is capable of analyzing message history, and stops the message chain immediately when we’ve got a reply from our lead. You can also set a few ‘stop’ words to control when to not send a message.
If combined with the next generation AI tools, like ChatGPT, it will be able to leave meaningful comments under people’s posts on social media, as if a real person was posting it. The effects are better reply rate, more targeted messages and faster sales deals.”
Automating workflows increases productivity and improves the customer experience. Again, this is where chatbots come in. AI is now able to integrate with various CRM or helpdesk systems to find out information about customers and provide answers to their questions. This may seem scary to some, but you should think of it as just trying to help you get a more accurate answer. Not without the help of the development or support team, of course.
In order for your customers to get automated answers to questions, you should do an analysis of your early customer interaction experience and identify frequently asked questions. Without this preliminary analysis, it’s impossible to build an accurate list, and this will impact human and chatbot interactions.
“AI is currently and will continue to be used for mainly for process automation. That is, AI helps teams spend more time on critical tasks to close sales, like relationship building/management (things AI cannot do), while AI does the mundane tasks such as lead qualifying/ranking, note-taking, dispositions, follow-up emails, quote/invoice generation, appointment scheduling, etc.”
– adds Mark Mitchell, Chief of Research at Covenant Venture Capital.
Perhaps one of the most promising areas of data processing is predictive analytics. Experts predict the active development of this direction, because the volume of data increases every year and people simply do not have time to analyze it on their own.
Analytics has many advantages for business: you will know the mood and needs of customers, adjust your strategy of working with clients or your service, you will see what affects the purchase or refusal to buy, and much more. This is why many companies invest in analytics and data analysis, as well as long-term planning based on this data.
Collecting the data yourself is a time-consuming task, and if you don’t have the necessary expertise and competencies, it will take a long time. And time, as you know, is expensive. Competition in the marketplace for consumers is ever-increasing, and businesses need to know how to stand out. If you want advice from experienced big data analytics or analytics experts, contact Usetech.
“Looking to the future, the prospects for AI in B2B are extremely promising. As the technology continues to evolve, we can expect to see AI being used in more and more areas of business, from customer service to supply chain management. The potential for AI to help businesses to make more informed decisions and optimize their operations is vast.
One practical example of how AI can help businesses is in the field of predictive analytics. Predictive analytics uses AI algorithms to analyze past customer behavior, identify patterns, and predict future behavior. This can help businesses to identify which customers are most likely to buy their products, what products they are likely to buy, and when they are likely to buy them.”
— notes Iu Ayala Portella, CEO and Founder at Gradient Insight.
Another interesting perspective on regression analysis in marketing is presented by Vall Herard, CEO and Co-founder of Saifr:
“Marketing has always been using AI. In the past, this was referred to as regression or statistical analysis. Regression analysis is a way to measure the relationship of one variable to another. The key question we seek to answer using such a technique is: what factor (or combination of factors) in the marketing effort has a positive impact on sales? Exploring the relationship between different marketing outlooks and actions creates a foundation for eventually testing causality. For example, if we spend more on campaign X (social media postings) vs campaign Y (social postings + email campaign) do we generate more sales?
Using regression analysis can help answer varied questions such as: What is the impact of social engagement on page views? Does email open rates (and time of email open rates) have an impact on conversion rates? What is the dominant factor that drives organic page views? While these early applications of AI using multifactor regression analysis are still relevant, newer applications of AI are changing the marketing landscape.”
AI technologies undoubtedly help enterprises optimize their business processes, reduce costs and provide high-quality customer service.
The development of AI and other technologies will allow integrating more and more new processes into the business, increasing their efficiency and productivity, and focusing on other tasks.
“I believe that AI has the potential to revolutionize the way businesses operate. Its ability to analyze vast amounts of data and generate insights is essential for businesses looking to build sales and work with customers. With its numerous benefits and promising future prospects, it’s no wonder that more and more businesses are turning to AI to gain a competitive edge.”
— notes Iu Ayala Portella.
The power of Artificial Intelligence and its impact on business should not be underestimated, despite the fact that many experts and analysts are afraid of its accelerated pace of development. We see that there are more advantages than disadvantages. In addition, there are successful examples of companies on the market that have improved their productivity and increased business performance through the use of AI. So why not take your business to a new level?