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How AI Transforms Customer Engagement and Retention

Artificial Intelligence

Delivering convenient, precise, and on-demand customer interactions.

Every business owner understands the vital importance of customers. They form the foundation of a thriving enterprise, yet they can also pose the greatest challenge when it comes to satisfaction. Achieving genuine customer contentment is both exhilarating and a source of immense pressure for entrepreneurs.

Previously, I discussed the transformative power of AI for small businesses. With AI becoming increasingly affordable, accessible, and user-friendly, entrepreneurs are recognizing its immense value. From website development to proofreading, AI serves as an all-around assistant. However, its greatest impact lies in revolutionizing customer interactions. AI enables businesses to foster superior customer engagement without imposing additional time demands.

Uninterrupted Engagement

Similar to the necessity of a social media presence for your business, AI interactions are rapidly becoming indispensable. Customers now expect prompt and automated access to information whenever and however they require it. Most customers anticipate near-instantaneous responses to their inquiries and seek round-the-clock availability. Fulfilling this demand manually proves challenging for most small businesses.

Naturally, you may hesitate to entrust customer satisfaction entirely to AI if you’re like most business owners. Your customers determine the fate of your enterprise, and automating these interactions may seem risky or eccentric. I understand your concerns. However, it’s highly likely that your customers actually prefer automated responses, particularly when they are convenient, accurate, and always accessible. As long as their questions are answered, or their issues are resolved, the method of interaction becomes inconsequential to customers.

In fact, according to the 2018 State of Chatbots Report, 69% of consumers prefer chatbots for swift communication with brands. By incorporating an AI chatbot into your small business, you cater to the preferences of the majority and better fulfill your customers’ needs. The chatbot efficiently handles simple inquiries, maintains 24/7 availability, and communicates through the channels preferred by your customers.

Unlocking the Power of AI Chatbots

Many small business owners believe that incorporating an AI chatbot is only feasible for companies at a certain stage. However, contrary to this notion, you don’t need a large-scale website to leverage this technology. Facebook has demonstrated this by enabling businesses of all sizes to utilize their Facebook Messenger automatic chat feature.

Every month, an estimated 2 billion messages are exchanged between people and businesses on Facebook Messenger alone. When you factor in potential direct messages on Twitter or Instagram, SMS texts, and other emerging channels that your customers are likely to adopt, it becomes clear that customers are eager to engage with their favorite businesses. In the United States, the number of messaging app users will reach nearly 150 million this year, accounting for over 45% of the population. If you’re not part of these conversations, you’re missing out on potentially transformative customer interactions and hindering the growth of your business.

Managing all these channels may seem overwhelming, but the good news is that you don’t have to handle it all, and your customers may not even expect you to. According to a recent Gartner report, 85% of customer interactions will be automated by 2020. This saves you and your customers valuable time. The remaining 15% of interactions, which require a personal touch, should be your focus. These are the interactions with the potential for upselling and strengthening brand loyalty. Without the support of a chatbot, these conversations can easily get lost in the noise of simple questions.

Chatbots that can answer customer queries, resolve basic issues, and escalate to a human when necessary are essential for businesses today. They allow you to direct your attention toward driving customer engagement and not just addressing routine inquiries.

Your Partner in Customer success 

AI can enhance your competitiveness and improve customer retention. By promptly addressing customer questions, creating a welcoming experience, and serving as an always-available brand representative, AI ensures that your customers feel valued. As a result, your business can flourish.

Every entrepreneur strives for growth, and AI can be a valuable ally in achieving that goal. Given the advancements in technology, AI is accessible to businesses today without requiring significant investments of time, money, or expertise. Your customers don’t need to know how effortless it is to implement.

About Ben Lamm

Ben Lamm is an accomplished technology entrepreneur who is committed to turning the impossible into reality. He establishes intelligent and disruptive software companies that enable Fortune 500 companies to innovate using groundbreaking technologies. Ben is the co-founder, Executive Chairman, and CEO of Hypergiant, an organization dedicated to machine intelligence. Previously, he served as the co-founder and CEO of Conversable, a leading conversational intelligence platform that was acquired by LivePerson. Additionally, he founded and led Chaotic Moon Studios, a global creative technology powerhouse acquired by Accenture, as well as Team Chaos, acquired by Zynga.



Tags: Artificial Intelligence

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