In today’s platform-driven economy, customer experience is a key differentiator. Modern customers expect their engagements to be more human, more intelligent, and able to handle interactions in a natural way. As consumer behaviors change and more transactions become digital, moving to this new dimension of “intelligence-based conversations” is critical to providing a sophisticated customer experience.

 

The demand is clearly there: analysts forecast that by 2023, more than 70% of customer conversations will be retail based, and conversational commerce transactions will reach $112 billion annually. To meet the needs of these digitally engaged customers, companies need a solution that can initiate a multi-turn conversation, identify the customer’s motivation or intent, understand the customer’s natural-language request, and respond appropriately and quickly. Doing all this seamlessly – ideally through voice-enabled conversations – will allow companies to deliver a differentiated experience. But how?

 

Modern conversational experience platforms such as Avaamo are full of technologies that can help. AI engines, natural language understanding (NLU), natural language processing (NLP), automated speech recognition (ASR), sentiment analyzers, emotional analytics, conversational IVR … it sounds like a laundry list of the latest innovations. But, these tools are all ripe for leveraging to drive a natural and intuitive omni-channel experience. And make no mistake, they’re all necessary.

 

For example, consider the number of industries and countries in which enterprises operate. The terms “balance,” “plan,” and “account” have entirely different meanings across the retail, banking, telecommunications, and healthcare industries, and they may have regional variations as well. Each of these terms also has alternate phrases, with the proper response dependent upon a customer’s intent or request. This can be especially challenging in natural-language scenarios, as user responses are always subjective, with the response design varying from person to person.

 

Conversational experience platforms offer industry/vertical/domain packs and can address specific nuanced terms and situations. The trick for companies is to deploy a platform that has the intelligence to act and respond appropriately to the request based on the specific domain and intent. Advanced conversational experience platforms include pre-defined domains that contain pre-trained and pre-tested intents, drastically simplifying the process. Meanwhile, emotion analytics capabilities can enable leaders and marketers to make better decisions based on real-time data.

 

These platforms can enable a true CX transformation across industries and uses, from front-end/last-mile automation and conversational commerce to enabling a paperless enterprise and intelligent operations. But, they must always be anchored in a robust conversational experience strategy. This typically starts by identifying the use cases, designing the conversational journey, defining an enterprise-adoption approach, and determining which key business outcomes to measure in order to determine an ROI.

 

The applicability of conversational experience platforms across the enterprise is remarkable. There are obvious implications for the ecommerce ecosystem, but it can also help companies offer personalized products and services based on in-the-moment conversational data. Infusing AI and conversational IVR can even transform a mundane contact center into an efficient and inexpensive customer-service center with revenue-generation potential.

 

AI-powered conversational experiences are more in-demand than ever before. Consumers around the world are clamoring for them, and they’ll even spend more money with brands that give them what they want. The benefits go beyond the customer, though: these platforms can have a large impact on business outcomes such as acquiring new customers, reducing churn, boosting net-promoter scores, and even increasing revenue per customer. In short, brands that embrace a conversational experience and leverage emotional analytics to infuse it with human qualities will outperform their competitors and reach the cutting edge of customer service, marketing and sales in the experience-driven economy.

Raviprasad

Raviprasad

Practice Head – Solutions, Cloud and Avaamo - Digital Experience, Wipro Limited

@WiproDigital

Ravi has more than 24 years of experience spanning the conversational experience, AI and digital realm. As an open innovation evangelist, Ravi has led the development of digital solutions and open platforms by leveraging a global ecosystem of partners. He is specialized in digital transformation, connected venues and innovation. Ravi has several papers published in leading industry journals and is a speaker in tech forums and partner events.

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