Linkedin’s e-learning platform Lynda.com describe Digital Transformation as ‘The process of adapting existing business practices to new digital methods to increase efficiency and keep up with rapidly-changing market demands’. This can apply to almost any area of a business and with this week being ‘Customer Service Week’, we thought we’d look into how companies can up their CX game as part of their digital transformation strategy.
Digital Transformation is no longer an option for businesses, it’s a necessity in order to survive and compete in such a face paced and constantly changing landscape. Surprisingly though, many companies are still yet to switch to digital. IDC’s State of Digital Business Report revealed that 47% of companies haven’t started their digital transformation yet – while 59% are worried that it might already be too late for them. Those who have invested their time and money into digital strategies though are already beginning to reap the rewards; a study at MIT found that companies that have embraced digital transformation are 26% more profitable than their peers.
An article by IT Portal states that the following fives points should be considered when setting out on your Digital Transformation journey:
- “Bake” digital into your entire organisation
- Assume a short shelf life
- IoT is part of the digital transformation
- GDPR makes trust a must-have
- AI is now accessible
89% of businesses compete through the level of customer experience they’re able to deliver.
Purchasers are empowered like never before and now expect instantaneous customer service 24/7/365. 69% of Generation Y prefer messaging as a means of communication with businesses over other mediums such as mobile apps and automated telephony. Chatbots are a fantastic way to connect with your customers across multiple channel. They can be integrated into a company's website, social platforms and even through voice assistants such as Alexa and Google Home.
Companies with the strongest omnichannel customer engagement strategies retain on average of 89% of their customers.
In relation to point two, we have recently recorded a Botcast episode with Pete Gatenby, Client Services Director at B60 . During this episode we talk to Pete about how slow and steady definitely does not win the race in relation to digital transformation and how customers are evolving far quicker than the businesses that serve them. Keep an eye out for that episode release here. IntelAgent has a bot editor function which means that that companies can control and update their content when appropriate. We also offer an extensive analytical platform which provides business insights that can be used to transform and improve your current customer journey.
There are limitless possibilities with IoT, this is something that we are looking to develop further, following the response that we’ve had from many of our current customers. This looks like it will be a key source of improvement and revenue over the next two-five years. In relation to GDPR, it’s crucial to take customer data seriously - we partner with Oracle to ensure that customers data is dealt with through fully GDPR compliant processes.
Lastly, let’s look at AI capabilities. Capgemini found that 55% of consumers prefer to have interactions enabled by a mix of AI and humans. This married with the rise in Natural Language Processing (NLP) means that the more a chatbot is used, the more intelligent becomes.
In summary, chatbots are a fantastic way to engage with customers across multiple channels, 24/7/365 and considering that highy engaged customers buy 90% more frequently, spend 60% more per purchase, and have 3x the annual value compared to the average customer, investing in consistent and always available customer service is a no brainer.
Being constantly connected by intuitive technology takes productivity to new levels – allowing employees to connect to customers and to each another. We can help you be more efficient in your processes and the way you work so you can prioritise what’s important and save time and money. This in turn allows you to serve your customers better, and create a better overall customer experience.
Customers want to deal with companies on their own terms. We can help you adapt quickly to deliver services when and where your customers demand. Head here to book a demo.