Research suggests that around 86 percent of customers didn’t mind paying more for a better experience. Additionally, firms earning $1 billion yearly can make an additional $700 million on average in three years by investing in better customer experience.
Customer experience can offer exciting opportunities for businesses that are able to master it. But why is that so?
The truth is, a bad customer experience in any form, such as rude behaviour from a sales representative or delays in a refund, can make people reluctant to do business with the company again in the future. According to a report by Acquia, around 76 percent of customers go with a brand competitor after having one bad experience.
Undoubtedly, customer experience matters a lot to customers, and if customers are important to your business, you need to pay attention to it.
Limitations of Traditional Contact Centres
Companies have been investing in tools and technologies that allow them to understand their consumers better, but survey-based measurement systems continue to play a central role in CX efforts. Surveys can be good for learning what customers think, but they don’t necessarily measure CX performance and identify or act on the various CX opportunities. Not only are they limited and reactive, but they can also be unfocused and ambiguous, preventing them from delivering the desired outcome.
In today’s modern age, customer experience has become more important than ever. For a company to be truly customer-centric, it needs a thorough understanding of the customer journey and application of its deep insights to drive customer experience – and this is where CX automation can be exceptionally useful.
Need for CX Automation
With CX automation solutions, companies can create deep and insightful customer engagement to stay accessible, relevant, and gain a competitive advantage. By using AI-powered actionable analytics and insights across social and digital platforms, brands will be able to evaluate, predict, and deliver high-quality customer service in real-time. For instance, Voice AI could respond to customer queries, and offer instant support and information, thereby making resolutions quicker while reducing customer response time.
Not only does automation of repetitive tasks reduce labour costs, but it also frees up employee time to concentrate on complex business operations. Customer support and experience automation allows a better understanding of consumer requirements to respond effectively to their complex queries and deliver customised recommendations without necessitating any human intervention. Ultimately, an automation-led CX strategy allows brands to provide holistic customer satisfaction in a consistent fashion.
Some of the key benefits companies can incur from CX Automation include –
- Self-Serve First Approach – By automating FAQs or a series of steps for users to receive answers to their questions, brands can empower consumers to help themselves. This DIY model not only offers a good customer experience but also saves time and resources that could be put to better use.
- Always on Support –  Because CX automation doesn’t require human intervention at the grass-root levels, businesses can offer support 24/7 to customers to answer their queries with quick and easy resolution.
- Improved Customer Support – Because automation allows immediate and direct access to the order history and other details of the customer, it leads to quicker problem resolution. Apart from reducing your business costs, it manages to impress your customers with the efficiency of your service.
- Security and Reliability – Because technology has significantly advanced in the past few years, you can expect your automation solutions to be consistent and reliable. Because CX automation tools are designed with added layers of security, you can expect your company and customer information to be safe.
- Improved Agent Productivity  – Automation saves businesses a lot of time by generating quick analytics and providing accurate insights. Such a wealth of information can help agents learn more about customers – their needs and frustrations – and use it to take an omnichannel presence through chat or voice to offer real-time resolutions, ultimately to better achieve their department goals. Furthermore, the analytics and insights also help businesses streamline operations and gain a competitive advantage through automation to drive growth.
- Improved Overall Customer Satisfaction – With no miscommunications, faster response times, and an easy-to-use and streamlined service, companies can significantly improve customer satisfaction. Positive interactions with brands will increase repeat purchases and enhance the likelihood of referrals to drive up sales.
- Better ROI at Reduced Costs – By retaining more customers, company sales will soar, and so will the revenue. At the same time, companies will witness a drop in operational costs, ultimately delivering higher pay-offs.
A recent study highlighted that experience-led businesses tend to have 1.9x higher order values, 1.6x higher brand awareness, 1.7x higher customer retention rates, 1.6x higher customer satisfaction rates, 1.5x higher employee satisfaction rates, and 1.9x higher return on speed.
Regardless of the industry, a good customer experience will help in enhancing customer retention and brand loyalty to boost customer lifetime value (CLV), giving the brand the competitive edge, it needs to survive and thrive in today’s cut-throat marketplace.
Introducing automation to your brand’s digital transformation journey could diversify and upgrade your customer experience by reducing response times. At the same time, it has the potential to make communication less time-consuming and arduous for the employees managing the process, saving them time to improve human interactions.
The best way to integrate CX automation into your operations would be by outsourcing an expert partner who can understand your needs and deliver the right solution. At Engagely, we help companies turn into customer-centric brands by helping them keep their customers happy. Excelling in the domain of CX automation through transforming AI solutions, we aim to deliver a superior-quality experience to your customers.
Senior content developer- Marketing
Akshada Benke is a content marketer at engagely.ai with more than twelve years of experience in digital content marketing field. She describes herself as a Philomath. She is confident & professional in developing strong consumer-insights driven goals to build brand and relationships.