6 ways AI can help businesses retain customers

Poor service costs businesses worldwide an estimated £3.8 trillion each year¹, meaning providing a good consumer experience is key to a company’s success. As discussion grows about the role of Sweep.io have shared six benefits AI can have in improving customer experience.

Six benefits of AI for customer experience:

1. Reduces workload

AI chatbots can answer customers’ basic inquiries and requests immediately and direct them to online resources, meaning they don’t have to wait for an agent to have problems solved. This leaves your customer service team with fewer requests to respond and they can work on higher-priority and more complex customer needs.

2. AI is faster than humans

Consumers are always looking for the fastest service, and AI models can handle and process large amounts of data in seconds. AI can link huge volumes of data to produce better outcomes quickly, leaving a customer satisfied with their service.

3. Streamlining processes

AI chatbots can direct customers to the correct department for their query or provide employees with context about a customer request before they engage the consumer, helping to streamline and fast-track the support process. 

4. AI knows your customer

AI-powered customer service can provide personalised recommendations for consumers by assessing past purchases and interactions, which may have otherwise gotten lost in summarised data. By highlighting customers’ preferences and concerns, businesses can tailor their services to match specific needs.

5. Improves customer retention

By analysing feedback across multiple streams, AI can provide information on common customer concerns and problems, helping businesses identify any pain points that could lead to churn. From this, companies can take action by prioritising their areas for improvement and creating effective, data-backed retention plans. 

6. Predicts future trends

AI can identify the current trends for your company and project future directions in the market. This information can help businesses determine what to focus on in their consumer service or how likely a new service is to be successful, creating a more informed experience for customers.

Ronen Idrisov, Head of Product at Sweep.io has commented on the role AI can play in customer experience: 

“Today’s consumers are savvier than ever, and demand for real-time, personalised experiences is increasing daily. By utilising the benefits of a digitised customer service operation, AI can keep companies ahead of this curve.”

“There are many tasks AI can complete much quicker than humans. With around 64% of customers wishing companies would respond faster to meet their changing needs, but 88% of executives thinking consumers are changing faster than they can handle², AI enables the collection of large amounts of information quickly and effortlessly. Businesses can use this information to create actionable, data-driven improvements to their customer service process.”

“Predictive personalisation is an AI technology that can make a customer’s experience feel as though it was created for them individually. With 60% of consumers saying it’s likely they will become repeat buyers after a personalised experience, using AI’s data analysis to analyse customer trends, concerns, and behaviours to create individualised marketing experiences will boost customer retention.”

“By empowering companies with AI, businesses can provide optimised recommendations, drive revenue and retain customers, all while enabling employees to focus on higher-value tasks. Companies should feel empowered by AI, rather than threatened by it – ultimately, it adds value for both the customer and the business when used correctly.”

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