It’s a well-known fact that data is vital to the success of any company. Data analytics provides insights into customer behavior – which in turn is used to fuel the strategic initiatives of the business. Well-curated and holistic customer data can open up a world of new opportunities based on concrete numbers.
Today, data extends beyond hard numbers. While knowing how many conversions you’re getting from your website or being able to calculate return on investment (ROI) of a marketing campaign is still important – AI-powered chat has opened up a new type of qualitatively enhanced conversational business intelligence.
A key extension to data capture and enrichment
While tools like Google Analytics can you show you what page customers are on or how many times they’ve viewed the page, it can’t tell you why. For example, say a prospect is looking at your pricing page. They’ve landed on this page three times within the past week and spent over a minute on this page each time but haven’t requested a demo or started a free trial.
With AI-powered chat, you can proactively start a conversation and ask if they need any help. Through this conversation, you may find that they didn’t quite understand what reporting capabilities you offered in which pricing packages or what type of data your CRM integration was able to pull.
Businesses can also capture customer feedback in real-time with AI-powered chat. These conversations are then used to enrich data and build better, more comprehensive customer profiles. In this instance, you helped a prospective customer and also discovered how giving better pricing information could potentially help more buyers.
Automating context through conversations
Creating customer profiles involves capturing multiple layers of data from every stage of the customer journey. Data from AI-powered chat can further augment this experience. AI-powered chat has the ability to integrate seamlessly into any customer relationship management system (CRM) – syncing conversation history to customer profiles after a chat ends.
This type of conversational business intelligence empowers businesses to provide more personalized service to customers and prospects. For customers, this type of personalized service goes a long way during quarterly business reviews (QBR). An account manager can identify concerns or upsell opportunities with pinpoint accuracy, thanks to conversation history.
For example, if a customer had a less than ideal implementation experience and mentions wanting to switch to a different vendor during a QBR, account managers can look back and address exactly what went wrong, why it went wrong, and how they’ve taken preventative action to prevent churn.
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Capturing conversational business intelligence through AI-powered chat cuts down on manual effort while still giving your team a 360-degree view of your customers. Comprehensive customer profiles give you the ability to create better customer experiences.
AI as intelligent, front-line agents
Chatbots take this a step further by automating the data capture process. With data analytics captured from AI-powered chat, entire organizations work smarter, innovate faster and gain a competitive edge. According to Gartner, twenty-five percent of customer service and support organizations will integrate chatbot technology across all engagement channels by 2020, compared to less than two percent in 2017.
Chatbots can not only assist with handling tedious and repetitive data capture work but can also increase agent productivity. Setting up a chatbot to handle your most common FAQs will cut down on the repetitive, tedious work your agents have to do. Quantifying the types of FAQs customers ask can help inform your customer experience strategy, website design, and even your content strategy. For example, if prospects are constantly asking how a certain integration works, it may be worthwhile for the company to update the feature page with more information or write a more in-depth knowledge base article about it.
AI-powered chat works to give decision makers the insights they need without having to waste an agent’s time. With chatbots, businesses can capture conversations and answer questions 24/7.
Wrap-up
In today’s increasingly competitive market, conversational business intelligence offers companies the opportunity to improve customer experience, make more informed business decisions and provide more personalized service.
By bringing together metrics and conversations for a more complete view of the customer, businesses can leverage the full value of data. Departments across the business, from sales to marketing to support, can connect the dots to uncover more actionable insights and deliver better service throughout the customer journey.
Originally published here.
