Technology

From Data to Delight: Leveraging AI for Personalized Customer Experiences

With online shopping, self-service kiosks in stores, and online chat support, the customer today can buy whatever they seek without leaving their home or talking to another person. The convenience appeals, and the abundance of choice can lead to cost savings. Yet many contemporary consumers want one thing back: personalization. Webinar Live and on-demand webinars Strategies to Captivate Your Most Valuable Customers Watch Now Ironically, AI-driven customer engagement is helping businesses provide brand interactions that connect on an individual level. Leveraging vast amounts of customer data to provide seamless interactions across channels and drive meaningful engagement, artificial intelligence can revolutionize relationship building to maximize conversions. Why Personalized Customer Experiences Matter Personalization drives performance and better customer outcomes, according to McKinsey’s Next in Personalization 2021 Report. The consulting firm reported consumers expect personalized interactions (71% of them) and more than three-quarters of them get frustrated when that doesn’t happen. Additionally, McKinsey found, companies effectively leveraging personalization generated 40% more revenue than their competitors. In fact, they suggested, “Across US industries, shifting to top-quartile performance in personalization would generate over $1 trillion in value.” The study, and others like it, suggest personalized customer experience is now table stakes for business success. Nevertheless,according to Forrester , customer experience has declined for the past three years. Recognizing customer experience benefits customer satisfaction, retention and lifetime value, many companies claim to be “customer-centric.” Yet they don’t have the understanding needed to effectively bridge the gap between wanting to connect with consumers and providing them with […]