2 conversational AI ways that can give your organization a step ahead of your competitors

According to Forrester, due to the constant rise of customer expectations around service and support, organizations that are not investing in next-generation solutions are falling behind their competitors.

Here is how CSAT can be improved with the help of the latest advances in conversational AI without the need of spending many funds, in addition to having a look at how leading organizations are already achieving success with Google Cloud CCAI.

Nowadays, Contact centers become just a normal operational function tucked away from sight and mind. As the future is heavily shaped by working from home and digital engagement, plus the increased awareness at the side of customers to their requirements, the strategy of your contact center will need to support and even help determine your customer experience, which cannot be achieved without adopting the use of advances technologies as cloud and conversational AI.

In brief, conversational AI makes use of Artificial intelligence technologies in virtual agents to interact with people in a human-like way. The thing that shortens the gap between human and computer language, and makes communication between the two easier and more natural than ever before.

 “One of the top priorities for most organizations is to provide a great customer experience (CX), but since contact centers usually work 24/7, decision-makers are hesitant to make considerable changes or upgrades because of the fear of breaking their already overtaxed systems. This paradox has left many organizations to depend on outdated or bloated interactive voice response systems for a long time. And as customers expect a lot when it comes to service and support, these organizations are falling behind other competitors that are investing in next-generation solutions.” According to Forrester.

Down below, we have listed a couple of ways your organization needs to follow in order to get a competitive advantage in front of other competitors.

  1. High CSAT is good for business

According to PwC, 32% of customers say that they would switch to a competitor after experiencing one bad customer experience at least. Moreover, around 50% of customers will not even consider doing business with you unless you have high ratings.

The satisfaction of your customer can directly affect your potential of doing new businesses. In fact, customer dissatisfaction and low customer satisfaction (CSAT) scores threaten your relationship with your customers. That is the reason why keeping customers on hold, endlessly route them somewhere else, or not providing them with the answer they are looking for is no longer an acceptable thing to do. Yet, that’s exactly what happens in almost all the contact centers when we call into a traditional, phone-tree-based IVR system.

However, Conversational AI gives more personalized and intuitive customer care by putting your customers in contact with virtual agents via either voice or chat channels and so providing them with rapid, helpful, and relevant information. In this way, your customers obtain answers faster, which enables your contact center staff to free themselves from repetitive tasks and focus on more engaging and complex customer issues. Besides, nothing is lost when a virtual agent handed off a call to a human agent, and people do not have to repeat the information more times.

All of this plays a major role in getting high customer satisfaction scores, the thing that can positively reflect the level of service you deliver to your customers. Several studies show that mastering the art of customer service gives you the possibility to apply more charges to your services. Actually, while 43% of customers would like to pay more for greater convenience, 42% would like to pay more for a friendly and welcoming experience, according to PwC.

Generally, having high CSAT scores can mean:

  • Repeated purchases from existing customers
  • More new customers
  • Lower agent attrition
  • Lower operational costs
  • A more profitable business
  • Conversational AI Provides a great customer experience without increasing operational costs

In fact, traditional and phone-tree-based IVR systems in most contact centers weren’t built for the cloud age, and they have become expensive to maintain and improve. Besides, operational costs are in constant increase along with longer handling times.

During these unprecedented times, organizations start to invest in best-in-class AI tools to better deal with the rising demands and improve customer service, particularly now there is a way to do it without increasing costs. However, in the past, organizations had to hire more agents to improve CSAT; otherwise, the CSAT scores will be very low.

Today, cloud-based and conversational AI for contact centers, such as Google Cloud Contact Center AI, make your life easier. Technologies like Groundbreaking advances in AI, machine learning, voice recognition, and natural language processing give the possibility to virtual agents to understand the nuances of human language and, eventually, the needs of your customers. Sometimes, your customer may have some questions to ask and want to rapidly get answers in a more engaging and natural way rather than interacting with a phone tree. As a result, your contact center staff will have the time to concentrate on more challenging and higher value interactions, reducing attrition, and improving operational efficiency.

With numbers: Financial benefits of Google Cloud CCAI

According to an August 2020 study, “New Technology: The Projected Total Economic Impact™ Of Google Cloud Contact Center AI” that was commissioned by Google and conducted by Forrester Consulting for the purpose to study the estimated return on investment enterprises may realize by using CCAI, organizations benefited from the following:

  • Call deflection totaling moved from $8.1 million to $14.3 million.
  •  Chat deflection totaling moved from $1.3 million to $2.4 million.
  • Efficiency gains for contact center agents totaling moved from $1.3 million to $3.7 million
  • Management efficiencies totaling moved from $1.1 million to $2.3 million. CCAI eliminated the need to manage and update legacy IVR systems and saved the time and effort needed to roll out new capabilities or provide services to a new product.
  • Reduced agent churn totaling moved from $447,633 to $1 million.

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