A good omnichannel customer experience is now more important than ever. Consumers have become demanding or spoiled by high online service levels. Business customers also want to be served quickly and on a tailor-made basis. Knowing your customer is a precondition for an optimal customer experience. A lot of data about the individual customer is often already available, but organizations do not always have that data ready when necessary. If you automate this process with the help of Artificial Intelligence (AI), you realize the optimal customer experience.
I recently spoke to a friend who owns several clothing stores. During the first lockdown due to corona, he quickly needed additional credit to quickly take his online store and logistics to a higher level. It wasn’t even that much money. But it took more than six weeks for his bank to give a definitive answer. Every time he thought all paperwork had been submitted in full, additional documentation was needed or someone else had to look into the case. All the while, he sat at home with gritted teeth with zero income and was close to bankruptcy. While the owner of a liquor store next to his store received a significantly larger additional credit from his bank within five business days to shape his online channel.
The difference in customer experience couldn’t be greater. In my view, the explanation for this difference can be nothing more than that the bank of the liquor store had its business automation in order and my friend’s bank clearly did not. My friend had been a customer there for years, most of the information needed to make an informed decision was already available for a long time. If the bank had optimally set up its systems and process handling, approval could have been received within a few days. And then my friend – just like the adjacent liquor store – could have gone ahead quickly to be able to serve his customers via the online channel.
Automation and AI
With automation and AI, you as an organization ensure that all relevant data is made accessible and available at the moment of contact with the customer. This concerns data such as: who is that customer, what is the risk profile, which services and products does the customer already purchase and what are the possible cross- and up-sell options? In addition, all kinds of relevant external factors (such as market developments, weather conditions and therefore also something like a worldwide corona pandemic) can be introduced. This allows employees to make a well-informed decision faster and process processing is much faster.
As a customer you want to be taken seriously. This means that they know you well and that your expectations are met. No, in fact…. that they are surpassed!