Ada – Business Reporter client
No business is immune to an economic downturn, but automation can help minimize the negative impact on your brand.
Business is cyclical. There are times of growth and prosperity, and there are times of decline and hardship. If the last three years have taught us anything, it’s that it’s better to prepare than to predict. Changes will come and they will be out of our control.
Brand growth should not depend on changing economic trends. Many companies, especially start-ups, are responding to the current downturn in outside investment with cost cuts, downsizing and, quite understandably, a shift from customer acquisition to profitability.
Brands that previously relied on headcount to scale their customer experience may now struggle to figure out how to continue delivering the same (if not better) service to new and existing customers. To maintain high quality CX with limited resources, brands need the ability to personalize at scale, which is difficult, if not impossible, with a human-centered approach.
Bad customer experience costs businesses dearly $75 billion a year. And 67% of customers say they would change brands because of a negative experience.
Your best ally to be ready for anything is automation. Fast growing businesses need to implement automation to cut their overheads, stay (or stay) in the black and keep growing. And they need to do it quickly.
Despite widespread adoption, some businesses still worry that people find automation annoying and useless. The chatbot industry is expected to reach $102 billion by 2026.but most chatbot solutions fail to provide the VIP service that customers expect.
The problem is that many solutions – or “chatbots” – don’t get to the heart of what brands need to scale effectively. I will say right away: typical chatbots are a band-aid. But done right, automation can increase efficiency and reduce costs without sacrificing brand perception.
The key to rapid ROI for automation is:
- Identify tasks that are best suited for automation and those that require human input. Thus, agents can focus on important interactions that generate more revenue and customer loyalty.
- The choice of a modern platform based on artificial intelligence. One that allows you to create personalized brand experiences without developer dependency code. This means that the non-technical staff who know your CX best can develop and implement interaction across any channel and in multiple languages within weeks.
- Quickly automate most of your interactions by answering your customers’ most common, basic, and recurring questions. This provides your company with 24/7 support to keep costs under control.
- Rely on your automation solution to help you set and achieve clear business goals, both short and long term. As the economy recovers, you’ll want to move from simply addressing common questions to providing personalized answers to specific questions, facilitating actions, and predicting needs based on customer intent.
Today’s leading AI technology allows brands to understand and act on consumer intent in seconds. Real-time analytics allows you to constantly optimize the interaction with each client or employee. And APIs open up a lot of customization, allowing internal teams to achieve business goals.
Protecting CX in the long run depends on your ability to instantly increase or decrease the number of interactions. And you can only achieve this with the right automation platform. One that lets you own your automation strategy to weather any storm and deliver interactions that are consistently high quality, efficient, and satisfying.
It’s time to take the band-aid off and find a sustainable solution that keeps your company’s growth and your customer experience from being dictated by economic volatility.
Find out how BFA Saved $2.7 Million a Year using the Ada Automated Brand Interaction (ABI) platform.
Originally posted on business reporter
Credit: www.independent.co.uk /