oculus360 - Apr 10, 2019

How companies can use AI and machine learning to increase customer loyalty

One of the most potent but potentially overlooked uses of AI is in improving customer experiences and maintaining customer loyalty. AI can help your business build a loyal and consistently growing customer base by learning from the growing number of natural conversations consumers are having online every day.

How you can use AI to improve customer experiences

How you can use AI to improve customer experiences

Innovations in artificial intelligence and machine learning technologies enable companies to customize and tailor customer experiences that build consumer loyalty. When they understand why consumers choose the products they choose, companies are better equipped to develop digital marketing strategies based on a thorough understanding of what customers want to see and hear. Companies can reach and engage their target audiences with tailored messages that boost engagement.

AI and machine learning can be applied to enable companies to answer the "why consumers choose" question and identify deep consumer insights for providing a tailored and optimized customer experience. With AI-based technology, companies can identify and address trends in consumer tastes and preferences in real time. A recent MIT report reveals that nearly 85 percent of businesses surveyed believe AI improves customer service and draws customers in closer.

Although AI investments are typically made to improve efficiency, AI also brings greater customer intimacy that leads to improving the entire customer experience and ongoing loyalty. For instance, AI technology in contact centers allow customers to interact with companies outside normal business hours, getting assistance when it is convenient for them, and the support they get is frequently more timely and targeted.

How improved customer service leads to increased customer loyalty

How improved customer service leads to increased customer loyalty

Considering customers have higher expectations for customer service, companies must adopt the attitude and commitment that places the customer first. Companies can use AI and machine learning behind the scenes to build a relationship that keeps the customer front and center.

Companies often use loyalty programs to retain customers, but one criticism of those programs is they give discounts and free goods to customers who would have bought from the company anyway without these incentives. An AI-powered insights platform enables companies to understand consumer segment perceptions and preferences for their brands and products as well as their competitors. Armed with this understanding, companies can structure programs and incentives that drive the right behavior and address gaps they may have vs competitors.

How O360's digital landscapes can help your business build customer loyalty and improve customer experiences

How O360's digital landscapes can help your business build customer loyalty and improve customer experiences

O360 Digital Landscapes and Consumer Portraits can enable companies to personalize and optimize content and messaging, track the health of brands and competitors, drive more revenue and ensure more efficient investment of marketing funds. O360 audience affinity toolset delivers a probabilistic score for the likelihood of a given offering resonating with consumers and enables a ranking by likelihood of interest of a list of products given an individual or group of individuals preference.

If you want to reach customers and keep them, you must provide an intimate customer experience, on your customers’ terms, that builds the kind of customer loyalty that brings them back. O360’s AI platform provides the insights and deeper understanding of consumers to improve customer experiences and lead to lasting customer loyalty. Once the personal connection with the customer is established, avenues to your products and services naturally follow.

Written by oculus360