For many businesses, Customer Experience (CX) is their top priority for the next 5 years. CX has become the new battlefield against the competition with 81% of organizations already citing CX as a competitive differentiator.1
In today's fast-paced market, businesses face the challenge of meeting high customer expectations while patience runs low. A recent report from the UK shows that customer satisfaction levels are the lowest they have been for 14 years.2 With this in mind, businesses are now focusing on delivering great CX to:
- Improve cross-selling and upselling,
- Improve customer retention, and
- Improve customer satisfaction.
If you want your customers to buy more, remain loyal, and be happier with your services, then your business needs to invest in technology that has the capabilities to enhance CX. As a result, over the past 18-24 months, AI has emerged as a key area of investment to address this need.
So, how can AI shape your business’s customer experience?
1. AI allows you to interact with more customers
83% of businesses say AI helps them assist more customers.3
24/7, AI-powered chatbots can engage with customers at any time of the day. This allows you to provide instant responses, as your business can communicate with customers regardless of varying time zones or office hours. AI systems can also efficiently handle and process several customer interactions simultaneously, preventing support teams from becoming overwhelmed while minimizing customer wait times.
2. AI enhances your employees’ productivity
96% of employees say they are more productive with AI.4
Staff can automate routine tasks like data entry, scheduling, and responding to common inquiries. This allows them to focus on higher-value activities, such as enhancing interaction quality, personalizing customer service, and managing their workload efficiently. AI empowers employees with robust tools, including predictive text, language translation, and sentiment analysis — all of which allow employees to respond more quickly and accurately regardless of language or complexity.
Employees also benefit from AI-driven analytics tools by receiving actionable insights during customer interactions. They gain immediate access to relevant information and prompts, which enhances their conversations with customers.
3. AI helps you save money
Implementing AI in customer service can reduce costs by up to 30%.5
AI can help businesses save money by automating aspects of their customer service. For instance, chatbots and virtual assistants can handle a large portion of customer inquiries without human intervention, ensuring consistent messaging across various channels such as SMS, web chat, social media, etc. Businesses can also harness predictive analysis to reduce customer churn by identifying when a customer is at risk of being lost and taking proactive measures to retain them.
Additionally, AI offers the ability to deliver personalized recommendations at scale, lowering acquisition costs and reducing human error with real-time information, prompts, and offers. Businesses also benefit from optimized resource allocation, as AI tools analyze customer interaction data to determine the support resources required at different times.
4. AI can increase customer satisfaction levels
AI Copilots boost CSAT by 12%.6
Customer satisfaction levels are one of the most important metrics linked to business growth, influencing the ability to cross-sell, upsell, and retain customers. AI analyzes customer data to offer real-time recommendations and personalized content, making customers feel understood and valued.
Moreover, virtual assistants boost response times and improve first-time resolutions by directing customer queries to the appropriate department. AI also streamlines and minimizes the effort required by customers for reordering, troubleshooting, or finding information — ultimately leading to higher satisfaction levels.
Advancing CX with strategic investments in AI
The big focus on AI investments within customer service and CX lies in its ability to enhance interaction capabilities, increase staff productivity, reduce costs, and improve CSAT scores. Traditionally, businesses face trade-offs between speed, cost, and quality, but AI can eliminate the need for such compromises.
While AI is not a magic bullet, as even top companies may occasionally encounter poor experiences, it can effectively identify at-risk customers and help prevent churn. This is why 74% of companies have increased their customer experience spending in the last six months, focusing heavily on AI as a key area of investment.7
GoTo's Connect CX is equipped with advanced AI features that simplify administrative tasks through our robust virtual assistant, GoPilot, and provide actionable insights from AI-driven call summaries and transcriptions. Discover how Connect CX harnesses AI to deliver seamless customer experiences.
Source links:
1 https://www.superoffice.com/blog/customer-experience-statistics/
2 https://www.instituteofcustomerservice.com/the-evening-standard-customer-satisfaction-at-lowest-level-since-2010-report/
3,5 https://getzowie.com/blog/stats-ai-customer-service
4 https://www.capterra.co.uk/blog/4135/generative-ai-in-the-UK-workplace
6 https://www.cxtoday.com/voice-of-the-customer/microsoft-copilot-for-service-boosts-customer-satisfaction-by-12-percent/
7 https://www.capterra.com/resources/current-investments-in-customer-experience-solutions/
