What is one thing common to the top brands of the world today- from Amazon, Starbucks to Spotify? Personalization, yes! But a mile ahead. If you were to cast a crystal ball gaze at the future of the contact center industry, personalization is probably the one thing that would survive and evolve dynamically thirty years down the lane.
What is Hyper-personalization?
It is a more advanced next step to personalization that leverages AI and real-time data to identify exact customer requirements. Hyper-personalization has brought a ground-breaking shift from product-centric approach to personalized customer-centric approach.
“We see our customers as invited guests to a party, and we are the hosts. It’s our job every day to make every important aspect of the customer experience a little bit better” – Jeff Bezos, CEO, Amazon
Personalization encompasses generic practices like using a customer’s first name in emails. Hyper-personalization, on the other hand, incorporates changes in real-time based on the user’s actions while communicating with agents.
As brands compete for consumer attention in a crowded digital space, hyper-personalization is an opportunity for them to interact with customers efficiently.
Unlike the traditional mass media, where marketers can only assume which customer type or segment may view or identify with a specific advertisement, hyper personalization uses the same platform and underlying data to present one of a multitude of targeted offers based on who is viewing it.
“In 2022, improving CX and applying data insights to decision making are top priorities for 60% of marketing professionals.”
But what’s interesting to note is that a majority of marketing professionals, around 52%, are only talking about hyper personalization and haven’t adopted it yet.
So, if you make a jump towards hyper personalization now, you would inevitably stay ahead of the competition curve.
Why does Your Business Need Hyper-personalization?
Hyper-personalization should be pursued as a comprehensive marketing strategy that transforms the way organizations interact with customers.
1. To Ensure Meaningful Conversations
By using behavioral and real-time data, interactions become more personalized, meaningful and context-driven. This strategy allows you to treat your customers in a more personalized way.
A report by Accenture hints at 75% of the customers being more likely to purchase from someone whose offerings are personalized as per individual preferences.
Thanks to technology, agents become well versed in customer’s purchase history, the pages they visited, questions they asked before and more, allowing them to tailor conversations as per customer’s true needs.
2. To Ensure Seamless Customer Journey
The more relevant your content and offerings are, the less time and effort would be spent by customers to navigate through offerings they are not interested in. The tracking of in-moment customer journey and real-time segmentation provides for enhanced customer experience.
3. To Improve Data Quality
The first step towards hyper-personalization is the reliance on clean and high quality data. The simple process of data unification, better organization and ease of access enables agents to achieve better data integrity and connection among the data sources. Using sentiment analysis, NLP and AI tools can help unify unstructured data and produce highly contextual conversations.
4. To Elevate Business Revenue
By getting insights into where the high-conversion traffic comes from, organizations can make a shift from a cost center to profit center.
| Well executed hyper-personalization can deliver 8X the return on investment and lift sales by 10%. |
Additionally, the personalization strategy tailored for individual experience reduces barriers to the sales funnel and prevents customer losses. Along with maximizing revenues, it reduces customer acquisition and retention costs.
5. To Improve Customer Retention
Hyper-personalization reduces customer churn. With a personalized approach agents can build customer loyalty with better engagement and make customers keep coming back. Strengthened customer relations with personalized content and recommendations also drives conversions.
| Also Read: 4P’s To Turn Prospects Into Customers |
Hyper-personalization Framework
Instead of treating it as a monolith, hyper-personalization should be considered as an evolving and maturing practice that is embedded throughout the customer journey. A favorable framework comprises of AI, NLP, ML, IoT, Big Data and is comprised of four important steps:
1. Data Collection
Gathering and optimizing customer data to understand their preferences. By identifying the correct audience and holding access to appropriate data is beneficial for businesses. Users can interact with a voice AI chatbot with voice commands and receive contextualized, relevant responses.
2. Client/Customer Segmentation
This step helps you create tailored messaging and content that suits customer needs. A broad audience is segmented into smaller subgroups based on demographics, spending and past interactions.>/p>
3. Targeted Exploration and Measurement
It involves creating a personalized interaction with every customer by selecting the right channel, messaging, timing and offers for them. After segmenting the customers and recognizing their corresponding requirements, one can set the exploration of the target.
4.Analysis
The last phase involves constant collection and analysis of hyper personalization metrics that helps in understanding avenues of improvement in hyper personalization strategy. Analysis of details and stimulating them in campaigns yield sustainable results.
How does an AI Voicebot Create a Hyper-personalized Experience?
Voice bots have the ability to handle multiple queries at once, with little to no human intervention. Contextual chats make conversations effortless and do not push users to follow a particular set path.
1. Enables to Understand the Intent
Voice enabled chatbots catch, interpret and analyze the sound waves generated by the user to understand the context of the input received. With the Automated speech recognition (ASR) feature, the bot can filter out irrelevant sounds to understand the language , accent and intent of the user. Further, ASR and intent models that can retrain themselves using AI-sourced data result in an accuracy of over 90%.
2. Streamlines Customer Service Agents’ Tasks
Voice Bots are not a replacement for human agents but they can complement them. Intelligent voice assistants can take up a majority of mundane and repetitive tasks, thus saving time and reducing pressure on the agent. This consequent reduction in workload can allow the agents to focus on more complex issues and allow them to close more tickets in considerably less time.
3. Ensures Accurate and Faster Resolutions
Unlike the conventional IVRs where customers can only connect in regular business hours and have to scroll through multiple options or wait for the next available agent, AI voicebot along with visual IVR takes a faster yet more accurate approach. The Voicebot automatically classifies the area of concern and routes the call to the respective department.
4. Streamlines Voice Operations with Automatic Data Research
Traditionally agents had to deal with every customer query and provide them even the basic information about the service or the product. With a ready database, AI Voice Bots have taken up that task, helping customers with repetitive queries and routing complex issues in need of human intervention to an agent.
5. Strengthen Customer Relationship
With the voice recognition feature, AI voice bots can instantly authenticate the customer and use the customer history to provide tailored answers. Interactive intelligent bots bring in a user-friendly element to the personalized customer service experience, thus creating opportunities for superior personalized relations
6. Ensures Self-execution
Voice Bots can even take up reasonable and specific commands and execute it themselves. This simple feature enables a lot of customer queries to be handled and avert calls. The accuracy, speed and round the clock availability enhances first call resolution rates impacting customer experience in a positive manner.
How Business can use AI Voice Bot?
Businesses are expected not just to meet the needs of customers but also anticipate and exceed them. In a constantly fluctuating marketplace, it is important to adapt and harness the power of analytics and AI to make necessary changes in order to survive and thrive.
Voice AI in Customer Support
With a wrong deflection process, customers spend a lot of time waiting for someone to pick up a call, only to be put up on hold once again before being connected with the right department. At the start of a call, the callers will be connected to an automatic voice assistant who will enquire about customer queries and try to solve it by understanding customer intent. If unable to help, the bot can transfer the call to an agent, thus saving time and effort on the agent’s end.
1. Order Management
AI powered Voice bots can simplify the entire order management process by validating multiple pieces of data quickly and effectively. The tool also makes it easier for customers to self-service any order management request. The entire process from confirmation receipts, placing order, order status, delivery reminder, reorder can be easily automated with Voice bots.
2. Lead Qualification and CRM Updates
one great use case for an intelligent voice bot is to keep your CRM updated, thus making lead qualification easier. Imagine a scenario wherein someone from the sales team calls a customer to sell them a product upgrade, but it turns out that the contract was terminated some months ago. The IVR chatbot regularly calls customers to make sure that their data is up to date, thus avoiding such a situation.
| Click here to learn how your sales team can take advantage of Cisco CTI Salesforce? |
3. Handling Outbound Sales Calls
The days of cold calling are long gone in productive organizations. There is the IVR chatbot dial-out that presents the offer to the customer- and if the customer shows interest-the call is directed to the salesperson. This simple process allows more time for agents to interact with each client.
How AI Voice Bot Drive Hyper-personalization across Different Industries
By personalizing voice bots as per the brand’s identity can elevate employee experience, reduce costs and set the company apart from the competitors. Voice bot can have significant applications across industries. Let’s have a closer look.
Healthcare
The AI powered conversational voice bots in healthcare makes patient management easier. From follow up calls to pre and post treatment calls, checkups and appointments, they handle all routine tasks adeptly. Here are some of the telehealth services made possible with AI voicebots, rendering remote consultation less complex:
⦿ Automation of patient’s health monitoring
⦿ Automated appointment booking
⦿ Seamless flow of data
⦿ Realtime human like support
⦿ Smooth resolution of patient queries
⦿ Reduces staff burnout
⦿ 24/7 healthcare assistance
⦿ Accessible resorts and health data
Insurance
“Bajaj Allianz General Insurance relies on Conversational AI voicebots to resolve 80% of their queries, while only 20% are routed to a human agent”
Voice AI can bridge the gap in customer communication in the Insurance sector.
⦿ The insurance voicebot understands customer behavior and intent and follows a context driven approach to personalize policy recommendations
⦿ The insurance voicebot understands customer behavior and intent and follows a context driven approach to personalize policy recommendations
⦿ AI powered voicebots can automate information collection and integrate it with CRM, databases, etc
⦿ Offers value delivery to improve CX
Banking
Banking with conversation AI voice bots helps customers to seamlessly execute routine banking functions and enable transactions using simple human language. Customers do not even have to use a particular arrangement of words for the bot to understand. Thanks to NLP they have matured enough to understand intent, sentiments and context of the conversation. AI voicebots relive the staff of mundane work by:
⦿ Processing payments conveniently
⦿ Proactively remind customers of due dates of upcoming payments
⦿ Help customers access payment history and account statements
⦿ Tailor financial tips based on customer profile
Further, voice biometrics can be leveraged to secure transactions and offer a convenient way for customers to authenticate their identity.
| Click here to improve Customer Service Experience in the Banking Sector |
Retail
Consumer expectations are changing, and today’s shopper expects speed, convenience, and personalisation across channels. For the retail sector, conversational platforms are a powerful way to deliver this.
Here are some ways Voice bots can enhance customer experience in retail:
⦿ With automated scripts andflows, they can increase customer engagement and satisfaction
⦿ Make self-service interactions quicker
⦿ Seamlessly direct customers towards products they have affinity for
⦿ Provide omnichannel experiences across touchpoints
How Can NovelVox Help?
If you are striving to deliver personalized one-on-one experience and engage customers across communication channels, look no further! InfiBot brings next-gen AI to your aid and helps you humanize your automated conversations and deliver personalized customer interaction and support.
Voice integration via InfiBot helps in:
⦿ Driving engagements across communication channels
⦿ Offers a unified workspace for all social interactions
⦿ Keeps track of social metrics via interactive dashboards
⦿ Skills based routing for efficient service delivery
Determine customer sentiments with sentiment analyzer, understand customer intent with NLP and analyze user data and session data to switch context effortlessly and offer relevant answers with Context analyzer. Overstep the challenges of traditional IVR and deliver personalized customer experience with InfiBot.
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Himanshu Suri
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