November 25, 2016 | By cognicor-admin |
In the world of instant tweets and even shorter attention spans, time is at a premium. Every customer – be it a gum chewing millennial, or an octogenarian typing with one finger – is impatient about getting what he or she wants. A slight delay can easily result in a switch to your competitor, or worse – a public rant that can undo years of hard earned reputation. It’s critical that customers get information, have problems resolved and paid attention to, in a jiffy.
Recently in India, Reliance Jio, a fledgling telecom company made waves with rock bottom tariffs. In a quick reaction, BSNL, the state-owned competitor has just offered even lower rates. In fact, BSNL has always had rates way lower than its other, well established rivals. So, you’d think that BSNL would be the market leader, right? Wrong! Its subscriber base as of Feb ‘16 was nearly half that of the top 3. And the reason can be explained in three words – poor (or, slow) customer service.
But, before getting to solutions, let’s first look at the evolving realm of customer satisfaction.
Has customer satisfaction changed since the landline era?
Obviously, yes. But, by how much? Well, it’s as wide as today’s broadband spectrum.
According to a Forrester blog, customers prefer to use online means to solve their problems, and use voice calls only as a last resort – an escalation. In fact, mobile and web self-service channels are the preferred options for customers. Web self-service has risen to 76% in 2014, from 67% in 2012. Further, online chat use has gone up to 65% in 2015, from 43% in 2012, and Virtual Agent (VA) use has shot to 58% in 2015, from 28% in 2012. And be assured – these numbers will only climb further.
Customers want quick solutions, using the simplest, most convenient means possible.
So, how can a big enterprise ensure customer satisfaction, every time?
The answer is simple enough – resolve problems ASAP.
And the best way to do that is with Artificial Intelligence (AI). This means intuitively understanding any query a customer may have. And, coming up with the relevant answers on the spot, through a mix of past experience (Like chat logs) and product/service information.
Er, isn’t Artificial Intelligence called ‘artificial’ for a reason?
That’s exactly why we call it Intelligence Automated! Today’s AI technologies are extremely good at judging customer intent, like CIRA. It uses Natural Language Processing (NLP) and Machine Learning (ML) to deliver a customer experience that feels ‘human’, even though there is no actual person involved. It is this engine that drives the Virtual Agent technology.
With this, the earlier models of decision trees and fixed ‘if-then’ sequences have been abandoned. Instead, statistical models are used to come up with the probability of a number of possible solutions being correct, and you get a flexible, probabilistic decision making system – with highly accurate results.
Here’s how VA tech can get your customers as satisfied as a kid with a candy bar
You solve problems for good
The best virtual agents anticipate what the customer is really asking for, and delivers the right answer in the shortest number of steps. This applies irrespective of whether a customer is seeking to buy something, have a problem solved, or do some research. Further, it can be applied to all sorts of verticals, from the very obvious eCommerce, to finance, travel & tourism, real estate, insurance, and more.
You’re open 24x7x365
This is especially relevant to big enterprises. When the globe is your marketplace, your customers are awake in a variety of different time zones. With VA technology, you get your customer service up and running every day, all the time.
Cultural barriers are a breeze
Again, when your customer can come from any part of the world, understanding different cultural nuances are a must. And, surely you’ll agree that machines are easier to train than humans!
With VA technology, you can easily address an Australian as ‘mate’, and a Spaniard as ‘amigo’. You can also ask a Briton about his ‘holiday’, while asking an American about his ‘vacation’. To train people to handle such differences consistently would cost a bomb, if possible at all.
You have multiple channels of engagement
The VA can be used across myriad channels. You can deploy it on the web. You can use it for voice chat too. Better still, you can use it on social media, like on Facebook chat. With this, the customer need not come to you – you can be right where the customer is.
You understand customers better
With the large amount of data collected, that too in a more or less structured format, you get a comprehensive idea of what customers really want, and what their problems mostly are. You can apply the same knowledge to better your product, streamline your services, or even come up with new offerings.
What’s more, if a customer has broken off his interaction, and comes back later, the VA would know exactly where to pick the conversation up from. With people, the second call could go to another person, and the customer would have to tediously explain from scratch.
You can handle a large volume of customers
Irrespective of how many customers contact you, no matter how many times, the VA is capable of handling it. And if needed, you can scale up in a flash, as most VA systems are on the cloud. Or, you can just source some new hardware.
Your customer care executives are happier
Any rare issue that cannot be solved by the VA, will reach your executive with its complete history, and he or she will know exactly what is required. Mostly, just the finishing touches will be needed. Add to that fewer calls to your personnel, and they will definitely be a happy group.
At Cognicor, we use patented technology to deliver intuitive Virtual Agents, that allow you to satisfy customers 24×7, 365 days a year. We offer multiple means to help you deliver customer satisfaction across the board. We also have vast experience in a variety of verticals. Do find out how our cofounder Dr. Sindhu Joseph’s PhD thesis became the most talked about new thing in AI, check out our whitepapers and case studies, visit our site, or email us: firstname.lastname@example.org