AI Chatbots for Banking

Ways To Boost Customer Engagement Using Conversational AI

Ways To Boost Customer Engagement Using Conversational AI

You, as a business, would want to put your best foot forward when it comes to your customer engagement on digital platforms. You can do so by either incorporating a new digital platform or by redefining the existing ones. The conversational AI or chatbot craze commenced in 2016 with Facebook’s revelation of a user-friendly platform to develop conversational AI on Facebook messenger. Shortly, chatbots were publicized as the next stage of the conversational revolution. Increase efficiency and reduce customer care costs by 50% with the right balance of agents and chatbots.

  • If it detects a different language being used, the language integrations are able to intuit this to provide a multilingual customer experience.
  • To satisfy the requirements of a global business, it might be challenging to train a team of customer care agents to understand the nuances of hundreds of different languages and local dialects.
  • With our experience delivering conversational AI solutions to several enterprises, we’ve observed that few use cases are able to get benefitted from such technology better than others.
  • They also don’t appreciate generic, “spray and pray” type brand communications.
  • After that, and only then, will you be able to provide them with the amazing experiences they have come to expect and desire from your brand.
  • Due to their limited scope, chatbots don’t have learning capabilities.

If you want to improve your customer communications, take advantage of our experience and let us show you what we can do. Widget you find on a website which is a live conversation with a human agent. Conversational self-service works well for uncomplicated tasks such as account and payment-related questions, balances, change of personal details, etc. For more complex issues like payment difficulties and credit agreements, people prefer a speaking to a live agent. The data available on each customer – and provided by the customer – makes every conversation specific to that particular customer. People who emotionally connect to your company are much more likely to buy your items and promote your brand.

To Boost Lead Generation

A chatbot has at least one distinct advantage over humans – its ability to sort through massive amounts of data and come up with the required information in a fraction of a second. This ability lets a chatbot come up with all relevant information for a customer the moment they start a conversation. It could be anything from purchase history, saved cards, order status, and more. The conversation that follows will be highly personalized and thus score high on customer engagement.

Increasing customer engagement with Conversational AI

Once the customer reaches the point of paying, unique links to payment gateways can be sent via the messaging channel, which makes it easy for customers to pay. Also, using conversational text messaging puts you ahead in the payment queue and customers tend to pay earlier in the process. NLG is how the bot replies to humans, i.e., generating the appropriate response. It uses Dialogue Management to create a response from its understanding of what is being said . Abhinav runs product marketing at NovelVox, and formerly donned marketing hats at Tata Consultancy Services.

Conversational AI Promotes a Better Customer Experience for Deeper Loyalty

Hence, the learning curve for customers to engage with a chatbot is practically flat. Chatbots sit conveniently on the corner of every page of your website so that customers can get instant replies to any query they may have at any moment. It eliminates the need for them to look through the entire website for a single piece of information. We are a Conversational Messaging Platform that helps businesses engage with customers across 30+ messaging channels across commerce, marketing and support. Companies with weak omnichannel engagement strategies retain only 33% of their customers. In contrast, companies with a strong omnichannel strategy retain a massive 89% of customers.

Increasing customer engagement with Conversational AI

If you answer yes, it might process that request and inform you of the costs. And, it can still pass this on to an agent if your questions are too complex. In this way, bots become a resource for generating profit — and understand Increasing customer engagement with Conversational AI when a human agent should step in with a personal touch. Google led the modern revolution of conversational AI with natural language understanding . This technology makes it possible for a voicebot to hold a conversation.

Social media outreach

If you are not familiar with the term “human in the loop”, it’s simply the concept of an agent taking over the conversation when it becomes impossible for the chatbot to handle. In a customer support context, we always recommend having a fallback option with an available agent during your business hours. Once you integrate a chatbot on your website, you have made it possible to extend expert customer service 24/7. Irrespective of the time of the day, your customers can go to your website, enter their queries and get instant response. They don’t need to wait till the following day for your work hours to begin or wait for a reply to the email they wrote hours ago.

Hyper-personalization approach enables you as a brand to understand customers, their preferences and requirements. Conversational AI solutions enable you to capture customer data through feedback or customer interaction on chatbot and transform pattern data into meaningful insights. Furthermore, it helps you to create a hyper-personalized content experience according to different personas. Conversational AI enables businesses to engage more humanly with potential consumers and existing clients.

Adaptive experience builder

It is your responsibility to offer a consistent experience on all the channels and thus improve overall customer engagement. Your brand’s customer engagement and CX efforts should start from lead generation, and for this Conversational AI is a potent tool. Conversational AI-based chatbots, mobile assistants, voice assistants, etc. can decipher the intent of your visitors.

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Here is an interesting infographic that talks about the use of chatbots in customer engagement. The best thing is – you can build a Conversational AI chatbot in next to no time with a low-code, low-cost platform like Gupshup. Take advantage of a user-friendly interface, simple workflows, built-in templates, as well as no-code and IDE bot builders to deploy a customised chatbot on multiple channels. Post regularly and frequently, so customers have a consistent stream of content to consume and engage with.

AI for the Cable Industry

In fact, an emotional connection between your brand and your customer can do more for business than the quality of your product. Of course, you will still be focused on building better products, but without a loyal customer base to buy them, your business may only putter along instead of jumping to the next level. Gary has 25+ years of experience in technology investment banking and entrepreneurship. Previously, Gary ran the Tech, Media and Telecom practice for Headwaters MB which Gary and our Partners grew into a top 5 Technology M&A Boutique. Gary focuses on managing the firm’s institutional investor network and working with mission-aligned businesses including the Wellness Technology and Digital Health sectors. Gary also serves on the San Francisco Bay Area board of Build.org, a non-profit teaching entrepreneurship to high school students in under resourced communities.

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