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Conversational AI Wins More Sales While Saving Time, Expense & Effort [Here is How]

As the world is becoming more technological and digital with the changing dynamics in the contact center industry, Interacting with the customers has been wholly revolutionized. Incorporating innovative technologies in businesses brings out many new features and tools to boost the company’s overall communication skills. One of those tools is conversational AI. The perks of conversational AI are ample, and this article will help fill in regarding them. First, conversational AI empowers organizations to diminish communication abrasion among contact center agents and customers. Consequently, conversational AI is growing more broadly and consistently in almost every business and conveying excellent customized solutions to clients.

By 2023, customers will prefer to use speech interfaces to initiate 70% of self-service customer interactions, rising from 40% in 2019.
– Gartner

Text-based interactions have become a pervasive communication method both at the workplace and in our everyday lives. Nevertheless, using them for customers and customer support provide benefits to the company in several ways. First, the utilization of chatbots has increased over the years, helping organizations bloom.

In addition to the list of perks, AI-enabled conversational chatbots are the new market leadership approach, and many businesses have amalgamated AI with chatbots or speech-based assistants. What’s more, since many are doing that, there must be a reason, right? Right. Nowadays, People have high expectations of customer support and even everything. So, to fulfill them,  business owners have been looking out for ways to meet their customers’ expectations and keep them satisfied.

Communicating with customers had never been this easy before these chatbots were regularized. But, the pathway from prospects to marketing-qualified lead to sales-qualified lead can be a long one, and it is a road that seems to have more exits than entrances. But, Integrating conversational AI in businesses helps speed up and increase lead conversion rate.

One of the most useful and efficient methods to meet your customers’ high expectations is utilizing the various advantages of conversational AI in businesses. So let’s see how artificial intelligence-powered conversation can benefit businesses to win more leads and sales.

How Do Conversational AI Bots Strengthen Ties Between Your Business and Its Customers?

Conversational AI-enabled bots enable businesses to do a lot more than just conversing the leads from prospects to SQLs. Instead, they act as the primary contributor in engaging customers, making services accessible 24/7, and working as a human-like experience. All thanks to the features like natural language processing and leveraging semantics, bots can understand what a person is trying to communicate, understand, and help to resolve it.

Conversational AI is an emerging market and is expected to reach USD $1.3 billion by 2025, growing at a CAGR of 24%.
Cognizant

Some of the other significant abilities of conversational AI bots include initiating and communicating on natural conversations, understanding the meaning and context of words, detecting errors and incorrect spellings. Due to these well-defined features, Conversational AI chatbots provide a commendable experience and help strengthen the ties between your business and its customers.

Conversational Marketing Can Supercharge Lead Conversion Process

Lead conversion from prospects to potential customers, marketing to sales (or sales to purchasing) can be a matter of perseverance, karma, or appeal. However, marketing qualified leads will always have a better shot at a high conversion rate. Good and well-researched leads also mean salesperson time is saved and not wasted on unqualified leads. Conversational AI bots respond to customer queries, provide them consultation, convert them into leads and sort them by relevance and potential.

Conversational AI can enable businesses to handle questions (through chatbots on the website or email) in the inquiry phase. AI-enabled bots also ask questions and perform their lead scoring based on businesses’ information or lead scoring system. One of the significant points of conversational ai bots is they save time and budgets as they do not get tired, and their energy does not drain.

Instead of hiring beyond your plans and budget, Ai-enabled bots do not get frustrated in the face of failure. Conversational Ai bots speak so well with the customers that they do not even realize they are not humans. Lead conversion interrupts or declines due to the slower process of following up on qualified leads — but there is nothing to worry about! Conversational AI bots can respond rapidly to queries no matter the lead volume.

1. Increased Productivity

Unlike traditional customer solutions, conversational ai chatbots are available round the clock. It makes businesses prevalent, allowing them to reach out to all customers on various modes of communication channels. There is no longer that time when AI tools were in doubt because of the thought that they would replace human resources with machines. Thanks to extensively spread digital disruption globally, employees are getting more familiar with AI, its advantages and realizing how beneficial it can be to incorporate AI assistance in the workplace.

Starting from nurturing leads by suggesting the right products to them, onboarding, and attending to their grievances, AI-powered tools can help contact center agents in each stage of the cycle.

Top 5 ways conversational AI increases productivity

  • Understand customers through data-driven knowledge
  • Automates repetitive tasks and saves time
  • Improves workflow b/w users
  • Forecasts customer behavior through advanced analytics
  • Improves customer experience and increases customer satisfaction

2. Cost Savings

Conversational AI chatbots enable businesses to reduce their business’s overall cost by replacing extra human resources. They develop comprehensive solutions to improve the experience for both the customers and the agents. In addition, they respond to every single query, message, request on time and significantly increase the chances of transforming potential customers into leads.

Conversational AI bots require only a minimal up-front investment, can be utilized rapidly, and lower support costs. As per the report by Juniper Research, By 2022, chatbots and NLP will save companies around $8 billion/ year in customer support costs. For example, a chatbot can shave off average call center handling times every second and save as much as $1 million in yearly customer service costs.

3. Seamless Communication

Customers reach out to customer support and services to resolve queries and issues they are facing concerning products or services. Nowadays, they possess less patience and lose their temper within minutes if the problem is not resolved quickly. They also switch to competitors and change their loyalties rapidly based on one or two awful experiences. Using a conversational ai chatbot strengthens the customer support system and enables seamless communication by allowing customers to engage and get their queries resolved without waiting for long. Additionally, conversational ai bots are multilingual and increase the reach of businesses.

4. Better Customer Experience (CX)

The use of conversational AI bots has exponentially increased as businesses have become more aware of consumer engagement through better customer service. Nowadays, consumers want to interact with brands at their convenience, whether it is business hours or a communication platform, and conversational ai bots fulfill that wish.

Conversational ai chatbots supercharge and personalize the entire customer experience through accessible communication and problem-solving capability. It also helps deal with a large volume of customer inquiries and helps brands with their bottom line. One of the most significant advantages of deploying conversational AI in businesses is it improves customer experience and reduces the cost to serve the customers.

5. More Sales

Conversational AI bots help businesses to drive a customer-first mindset. Bot enables brands to provide the correct information and updates on time and boost sales. Proactively, the ai chatbot will interact with customers on the website throughout their journey and help them. As a result, it becomes easier to drive more leads, increase lead conversion rate, and build a loyal customer base.

4 ways of increasing sales with conversational ai

  • AI chatbots help in lead generation and automate the process 24/7
  • Boost up lead conversion rate
  • Personalization through automation without any language barrier
  • Provides omnichannel communication and unified customer experience

6. Consumer Behavioral Insights

One more added advantage of conversational ai chatbots is that they provide real-time and valuable insights into business customer behaviors and patterns. Procuring valuable customer insights for future business practices and strategies becomes more accessible by exchanging information between the customers and the bot during a conversation.

Advantages of consumer behavioral insights

  • Customers feel like brands understand them
  • Customers receive thoughtful and personalized recommendations
  • Customers feel supported and recognized during each buying stage

Customer Engagement In eCommerce Industry

“Customer engagement is the ongoing interactions between company and customer, offered by the company, chosen by the customer.” – Paul Greenberg (for HubSpot)

Customer expectations have changed in recent years because of technological advancements. eCommerce is focused on building customer experiences for individuals rather than the masses. 

Today, consumers have a plethora of options when it comes to communicating with brands. Unique customers have unique preferences with communication platforms hence brands need to be available across all communication channels like phone, WhatsApp, webchat, email, social media, and more.

There are several touchpoints in the customer journey that influences or prompt the customers to make a purchase. 

Today, most eCommerce retailers are becoming more and more sophisticated with their AI capabilities to grasp audience attention and conversational commerce is certainly leading the way.

When we say conversational eCommerce, we essentially mean a combination of vocal, visual, written, and predictive capabilities. The needs of the consumer are changing so fast that it is a real struggle for brands to keep up with.

In a cutting-edge competition, survival is no cake-eating. If brands want to thrive, they must adopt and adapt to customer needs. Using AI for chatbots is just one way out of many in order to drive the conversation in the era of conversational AI.

The Common Approach:

Ecommerce businesses usually do not hit the markets with a holistic customer engagement plan. A majority of eCommerce businesses begin with basic customer engagement channels like email and phone calls. 

Having said that, it’s absolutely no surprise that consumers want to be treated special and individually. No one likes to feel like they are just another brick in the wall.

People are willing to spend money on the things they want but facilitating a personalized customer experience prompts higher sales and it is not something brands can ignore.

According to research, 86% of consumers are willing to spend more money provided they are facilitated with a seamless customer experience. Customer experience is amongst the most significant brand differentiators, maybe more than the price, or the product itself.

Without a question, if better retention and higher conversions are your targets, investing in engaging your audience might be the best approach.

Today, businesses adopt ticketing platforms and CRM as and when the volume of queries grows. This might look like a good plan but this often ends up in businesses indulging with multiple vendors to empower their customer engagement.

More Vendors – More Inefficiencies

In order to provide the best customer experience, it is vital that tech vendors and service providers must integrate well. Essentially what this means is that It lacks features (agent monitoring), visibility on tickets, smoothness in integration and critical performance metrics are also missed. 

Basically, “who is working on what” is missing and further leads to a chaotic customer engagement setup.

Some other challenges that businesses face with multiple vendors include:

Technological Disconnects: When a brand is involved with multiple vendors for customer engagement, the time and cost increase, and, rarely, information flows back and forth across all parties.

Added Human Resources: Human intervention becomes inevitable when various vendors operate in different formats since the probability of errors shoots. This also often results in delays.

Cost Of Integration – Having multiple vendors incurs costs to companies as brands majorly spend a lot of time coordinating the activities across vendors, rather than charting out a strategy to support the ideal customer experience.

Unsatisfactory Customer Service – If the customer isn’t satisfied with the way a company has handled an order, they are very likely to speak with a customer care agent. The issue could also be with the eCommerce site.

These issues must be resolved immediately which comes with additional costs and time. This further can turn into a loss of sales and customer retention.

Delays And Lapses – The market keeps changing and one has to be on his toes while adjusting to the market while forming strategies. 

With multiple vendors in the picture, it is obvious that there will be inherent delays due to communication lapses. The best way forward for this is to have a single vendor work from initial contact to fulfillment and follow-up, which is integrated and comprehensive.

The Solution

The perfect solution is getting your business a complete customer engagement tech stack with one provider on cloud-powered with AI.

The e-commerce sector succeeds son repeat customers and thus, delivering outstanding customer services is extremely crucial. Ecommerce businesses must facilitate superior service levels across numerous channels and can’t afford to miss even a single customer call. 

Adapting the best practices of customer experience management to create everlasting customer experiences is something that every e-commerce business must aim to accomplish.

Benefits of the solution

  1. Smooth integration
  2. Remote-ready
  3. Transparent agent monitoring
  4. Better insights into business operations
  5. Easy to scale (upgrade for peak season..downgrade after the season)
  6. Continue adding the channels as and when needed
  7. AI-powered voice bot and chatbot to reduce agent load

Final Thoughts

A large volume of customer service concerns around e-commerce revolves around how quickly a business can respond to the customer or resolve the query.

Ecommerce is a highly competitive industry which is why businesses must have a complete customer engagement tech stack with a single provider in order to service today’s demanding customers. AI and cloud just add to the benefits of such platforms

Ameyo delivers an end-to-end delightful customer support experience at all touch-points. 

Announcing a $40 million Series D Round

2021 has been transformational for Exotel – we raised multiple rounds of funds, merged with Ameyo, acquired Cogno AI and emerged as leaders in customer engagement space in emerging markets.

From being a customer communication platform that could support only two channels, we became a full-stack customer engagement platform with the ability to support all channels and tools. Now, we have everything businesses can ever need to have connected conversations across customer journeys.

We are now starting 2022 on a high note. I’m happy to announce that Exotel has raised a $40 million Series D round led by Steadview Capital, a leading global investment firm headquartered in London.

We are incredibly grateful to each one of our investors and are looking forward to working closely with them to build the future of customer engagement in emerging markets. With this round of funding, we’ll move faster towards our goals and solve more significant problems for our customers.

What this means for you

“Customer centricity” has taken on a whole new meaning post the pandemic, and over the last two years, we’ve been hard at work helping our customers meet these new expectations. With Ameyo and Cogno AI adding key elements to our full stack offerings, we’re closer than ever to solving the biggest customer engagement challenges facing enterprises today.

This round of funding will enable us to build these solutions for you faster with our full-stack platform. Here’s what you can look forward to:

1. Less time spent managing & integrating different tools

In the last few years, both businesses and customers have started using newer channels and apps for communicating with each other. To power these conversations, businesses are now using more tools than ever and the overhead of managing and integrating these tools has become significant.

Exotel can finally eliminate this overhead for you – with Exotel, you now have access to a single platform that can power intelligent conversations across devices and channels seamlessly. This means zero time spent integrating and managing different tools, and more time spent having meaningful conversations with customers.

2. Contextual communication across channels

It’s common for customers to move a conversation from one channel to another. But, few businesses are able to transfer the context to the new channel and agent handling the conversation. This loss of context leads to broken customer experiences – customers have to repeat themselves all over again every time they switch a channel.

Via Exotel’s central customer data platform (CDP), your agents will have access to a single customer profile across channels. Our CDP will store all customer interaction data under these profiles automatically. This way, customers can resume conversations and pick up where they left off seamlessly.

3. Intelligent customer conversations on autopilot

A chatbot unable to identify/understand an issue is a common occurrence – most of us have experienced this at one point or another. While the adoption of chatbots has enabled faster responses to customers, there’s unarguable room for improvement – most bots lack conversational intelligence.

With conversational AI capabilities, Exotel will soon be able to help you have better conversations with customers on autopilot. This will not only save time and resources but also increase customer satisfaction in the long run.

4. Highly productive agents

With bots handling all basic queries and issues, your agents are free to focus on more meaningful tasks and conversations. Additionally, Exotel will offer live recommendations to agents while they’re talking to a customer based on their history and preferences, which will increase the chances of success.

Exotel will also aid seamless bot to agent transfers, which is essential to keep customers from having to repeat their problem all over again.

5. Sentiment analysis & timely intervention

Not all customer service requests deserve the same amount of urgency and attention. But, most businesses use a first-come-first-served model, which makes it impossible to filter out the customers that need attention urgently.

With Exotel, you will be able to flag calls and chats where the customer sounds distressed or where the issue sounds urgent. Additionally, based on customer history and the nature of the query, Exotel will be able to pair the customer with the right agent. This will ensure your agents tend to urgent issues first and avoid escalations and bad reviews.

What’s next?

We’ll be spending most of 2022 converging the platforms and products of Ameyo, Exotel & Cogno AI. This fresh round of funding will enable us to bring this all-in-one platform to you faster. Speak to us if you’d like to switch to Exotel+Ameyo’s full-stack platform for your customer engagement needs.

Here’s a copy of the press release that went out today:
Full stack Customer Engagement Platform Exotel Raises $40 Million in Series D Funding to Enable Enterprises to Deliver Connected Customer Experiences

Customer Engagement Strategies You Can’t Afford to Miss in 2022

The future of customer-centric businesses and marketing will be more diverse, inclusive, and connected to the real needs of the customers. Technology continues to advance rapidly, and so of course, most of the recent and advanced trends are focused only on customer engagement. However, there is also a repel against the increased use of digitization and automation of interactions between businesses and consumers. While technologies such as AI and data-driven marketing continue to grow, the overarching focus will be on people, not technology.

Quick Takeaways:

  • The marketing trends that will dominate in the next 12 months will include Customer Experience, Employee Engagement, and Content Visualization.
  • As per the reports by Salesforce, 75% of consumers look forward to a consistent experience across multiple engagement channels–social media, mobile, online, in-person, or through the phone. 73% will likely change brands if they don’t get it.

World-Class Customer Experience

Every year is the year of the customers as they are the bone of the marketing world. Though, with changing marketing trends, a massive sift can be been in marketing tactics, customers’ behavior, preferences, choices, and beliefs.  The main focus of marketers is not about convincing people to buy what companies want to sell, but it has moved to provide customers with an outstanding customer experience. 

When you focus on building a positive business culture and providing great service, the marketing almost takes care of itself.

What Exactly Makes a Great Customer Engagement?

Engaging customers and building a harmonious relationship with customers is the utmost thing to keep on the checklist for driving good business revenue and driving customer loyalty. As the management experts at Bain and Company point out, a mere 5% boost in customer retention increases profit by 25 percent. 

Customer Engagement is the interaction and emotional connection between customers and brands through various communication channels, both online and offline. The main agenda of businesses and brands is to make customers happy and inbuilt a positive attitude towards them.

Here are a few examples of good customer engagement tactics such as a customer receiving an email newsletter about a new product or service release and clicking through to the company’s website to see and understand it or a customer calling the support line about returning an item. Or a customer watches a behind-the-scenes video about how a product is made on a company’s social page. What sets a business or a brand apart from others’ marketing tactics is the personalization element.

There are numerous examples of customer engagement, but the bottom line is this: Businesses that focus on customer engagement prioritize value creation, not revenue extraction. They provide customers something consequential, interactive, and an outstanding end-to-end customer experience to provide real-time customer support. When executed well, a strong customer engagement strategy will help to build strong customer loyalty.

Why Do Customer Engagement Matters?

Customer Engagement

In today’s marketing world, there are several ways to engage with customers and foster a good relationship, that provides numerous opportunities for brands to capture consumer attention and get them on board. To help and boost consumer engagement, brands should consistently and effectively connect, interact and work with customers, at every possible opportunity. Brands need to be consistent with the customer engagement strategies, craft brand messaging suitable to the target audience, and create positive end-to-end customer experiences, throughout the entire brand journey.

Customer engagement is one of the major problems for marketers today. Why? The reason is clear, it highlights the entire reason and answers why marketers market: to build and foster a healthy relationship with customers that will ensure customers prioritize you over the competitors, refer you to their family, friends, and colleagues and, keep coming back to you.

In order to acquire, convert, retain customers – and turn them into advocates – brands need to engage and connect with them with good content and marketing strategies in an appropriate, effective, and meaningful way.

Customer engagement is so important for three key reasons: 

  • Encourages repetitive purchases and boosts the brand experience.
  • Inspires brand advocates and increases customer loyalty.
  • Improves customer experience and increases sales funnel velocity.

Customer Engagement Strategies to Focus in 2022

The end of the year is a perfect time to look at customer engagement trends we will see in 2022.  In this article, we will look in more detail at specific customer engagement trends to look out for.

1. Cloud Platforms

Today’s customers are looking for personal relationships instead of transactional relationships with brands. Companies that offer and create a unique and relevant engagement across customers’ preferred channels tend to build more strong emotional bonds and drive incredible business growth. One of the major difficulties that businesses come across is determining how to service customers effectively in an environment where customer interaction is continually changing.

On-premise contact center solutions are proved to be inadequate in supporting the new remote working environment. The remote working environment needs a new solution and the answer is the digital age necessitates. Nowadays, businesses are accelerating and adopting modern cloud platforms for agility and adaptiveness

It enables enterprises to run their business in the comfort of their homes during the surge of the COVID-19 outbreak. It allows businesses to ‘plug into’ infrastructure; with the help of the internet and use computer resources without having to build and maintain them on-premises. 

Cloud platforms leverage businesses to contact and connect with consumers quickly and efficiently across various channels, including email, online chat, social media, mobile, SMS, and outbound. Businesses can build enduring relationships with customers, scale across various channels, diverse customer journeys, and millions of customer interactions.

2. Omnichannel

The rise of cloud customer engagement refers to the rise of more advanced technologies and communication channels. But, most importantly omnichannel provides a unified view of data and experience across all channels. Nowadays, customers use various multiple channels ( such as website, social media, phone, in-app, stores, etc) to reach out the businesses for support and expect consistently exceptional experiences every time. 

For contact centers, handling various modes of communication and data at scale is a real challenge, while for marketers creating a prudent brand experience across all channels and modalities is a challenge. Luckily due to technological advancements, brands can use cloud customer engagement solutions to overcome these challenges.

Key takeaways:

  • Identify all modes of communication channels your customers prefer to connect on.
  • Be active across the channels to engage customers by deploying cloud customer engagement tools like chatbots, live chat, and visual engagement tools.
  • Offer a smooth and seamless transition among channels and deliver a consistent omnichannel experience.

3. Conversational AI

Artificial Intelligence is the next big thing in today’s world that provides personalized experiences and gives both businesses and customers an advantage that enhances engagement. Conversational AI Bot Strategy has become more than a necessity for enterprises that ensure a smooth experience for business partners, employees, and customers alike.

By 2022, AI-powered chatbots are expected to reduce business costs by $8 billion.

Juniper

Businesses are continuously looking for ways and using AI to assure success in the increasingly competitive business world. Conversational AI  platforms (Chatbot and Voicebot) can help businesses provide 24*7 assistance and solve customer queries, generate leads, drive sales and achieve their targets. Forward-looking businesses are using Conversational AI technologies to personalize their interactions with customers.

Key takeaways:

  • Deploying a chatbot help businesses to engage the users 24×7and collect customer information to deliver a personalized experience.
  • Scale your AI bots to engage all interactions during peak hours and improve customer satisfaction.
  • Bots capture customer data and help in creating personalized experiences for the customers as well enable businesses to build better marketing strategies.

4. Video-enabled Contact Center

Video-enabled contact centers help solve customers’ problems faster and build more trust by giving a touch and feel of physical presence #BeingMoreHuman. It allows contact center agents to rapidly initiate video-based conversations from any support channel — including voice, email, chat, SMS, and social media. Video-enabled call centers help bridge the gap between an organization and its customers by providing a personalized customer experience and allowing agents to connect with clients face to face and resolve issues quickly.

With video contact center software, businesses can have a real-time exchange of additional information, including non-verbal body language, thus helping your agents reduce the time to address customer queries. Implementation of video supporting technologies in contact centers allows agents to provide an immediate solution or deploy a technician with a video snapshot for an efficient resolution.

Key takeaways:

  • Deploying a video-enabled contact center helps reduce costs by replacing physical meetings with video interactions
  • Scale up the efficiency with quality data monitoring and analytics.
  • Helps to win the customer’s trust and foster healthy relationships by humanizing the contact centers.

Conversational AI: Key Differentiators And Insights

Conversational AI is a term we often come across in business and technology, and the potential of its offering is immense. So what does this mean for you, your business, and your customers?

Customer Engagement and AI Chatbots

The basic mantra of customer engagement is to engage with the right audience at the right time, prompting them to make a favorable decision. Having said that, you must be available to the users at any given point throughout the customer’s lifecycle.

But, how do you ensure that? 

According to research published on HubSpot, 82% of consumers look for an immediate response from brands on marketing or sales questions. 

In other words, it is evident that every business needs to have a presence on chat platforms to thrive. This is not something that’s happened overnight, and Bots have been in the peripheries ever since 2008. 

The need to enhance customer engagement has further evolved bots, and now we have conversational AI’s that have all the abilities to provide your business a competitive edge over others.

What is Conversational AI?

Conversational AI is essentially a set of technologies that allow bots to communicate like a human being by recognizing aspects such as text and speech, understanding context, decoding different languages, and responding in a way that imitates human conversation.

Businesses can leverage the potential of Conversational AI by automating customer-facing touchpoints across social media platforms like Facebook, Twitter, and their websites/apps.

The power of conversational AI platform enables businesses to be straightforward with the users, facilitating a direct pipeline to address issues and reach end goals.

Note Conversational Chatbots and Conversational AI are majorly similar. It’s just that Conversational AI is a broader umbrella that includes voice bots, text bots, and voice+text bots, whereas Conversational Chatbots are only limited to texts.

This image lists why Conversational AI is gaining so much traction in the modern world.

Why is Conversational AI Great For Engaging Customers?

Available 24/7

The foremost advantage of having a conversational AI solution for your business is responding to your customers immediately. Did you know that if you answer a customer query within an hour, your chances of conversion multiply 7 times?

As a human tendency, the majority of the customers would talk about their negative experiences rather than the positive ones. Responding to negative feedback quickly would eventually enhance the product’s brand standing.

Customers Favour AI-Messaging

Do you know that most modern and profit-making businesses today use chatbots or are considering having one? A lot of customers look forward to seeing a chatbot on business websites for quick query resolution.

Another data suggests that a majority of customers prefer messaging over phone calls. With all this happening around you and the kind of expectations consumers have with businesses, it only makes sense that businesses integrate messengers across verticals.

Appealing and Problem Solving

A direct helpline for customers is certainly a plus, but with conversational aspects along with it, the entire method is taken to the next level. 

Conversational AI bots are unique tools for engagement. Engagement drives solubility, which causes retentivity and growth.

Highly Scalable

AI Chatbots have the potential to manage a massive number of customer queries without having to depend on excessive human resources. AI Chatbots are highly effective in cases when you suddenly witness a gigantic spike in user queries.  

If you depend on a limited human resource team, that’s a perfect recipe for disaster. But with chatbots in place, sudden spikes are easily managed.

Conversational AI bots can easily manage scaleups allowing businesses to function seamlessly even when your footfall becomes a stampede.

How Can Businesses Leverage The Potential Of Conversational AI

A user essentially communicates with businesses all along with product usage. In a cutting-edge competitive world, being available instantaneously is critical because of which a business’s presence needs to be based on the customer’s preference and the message you want your customers to receive.

It is important to remember that these can overlap or change based on the demographics of your target audience. One size fits all is not the approach businesses can depend on when it’s about new customers.

Strategy – Based on the type of message

  1. Facebook and Twitter are amongst the most popular and convenient social platforms. To take care of queries and complaints, bots can be deployed here.
  1. Deploying a bot on your website or real-time platforms like WhatsApp is beneficial for sending out updates and acquiring new customers.
  1. Some industries like eCommerce, banks, and aviation are incredibly time-sensitive. To handle a large number of customer service queries, the go-to strategy could be deploying custom voice bots, website bots, and in-app bots.

Wrapping Up – What’s in it for your business?

In the modern world, more and more users look forward to using chat as the primary mode of communication as it is quick, effective, and immediate. With that said, it only makes sense to make the most out of Conversational AI offerings across industries.

Conversational artificial intelligence offerings are beneficial for the customers and businesses as they help you cut down on operational costs and scale your business operations dramatically.

Conversational AI ensures that you are always there to listen to your customers, allowing your business to win top marks for engagement and responsiveness.

Conversational AI works – everywhere!

Regardless of the industry, all businesses can leverage the potential of conversational AI if they have a user touchpoint. It’s better for users and the company, and nothing else matters.

How Are Bots Contributing In Remote Areas To The Success Of A Business?

Let’s start with a fun fact! 

Did you know that by the end of 2021, Artificial Intelligence will recover 6.2 billion hours of worker productivity globally? Gartner  

The global pandemic has forced businesses to opt and adapt to work from home culture. Even now, when things seem to be better, companies across verticals have realized and capitalized on the benefits of working from home.

There is certainly a silver lining amidst all the gloom and bloom! As they say, what doesn’t kill you, only makes you stronger. 

In a situation like this, conversational AI – chatbots and voice bots have emerged as powerful tools for businesses in customer care and business continuity.

Bots, for all the right reasons, are often associated with a plethora of benefits. Reduced human dependency, increased efficiency, and an enhanced customer experience are a few of them to say, all of which are particularly valuable to businesses operating remotely or from remote areas.

A lot of businesses today have successfully leveraged the benefits of Ai assistants like chatbots and voice assistants. Let’s talk a little about how bots contribute in remote areas to help businesses thrive?

Enhanced Customer Engagement

AI bots are extremely useful for businesses, especially those located in remote areas. They have the potential to take customer experience to the next level.

Conversational AI bots allow businesses to drive engagement based on user data in an interactive way. Moreover, bots can deliver consistent answers enabling you to dish out unwanted information to your customers.

Providing your customers with relevant and swift responses helps businesses keep their customers on the website for extended periods and maintain the conversation.

Boosting Customer Engagement Using Chatbots – How?

  • Personal touch to conversations – Chatbots are intelligent. They have the potential to analyze responses based on customer details/history/demographics, facilitating personal communication while driving the conversation.
  • Quick & Real-Time Response – Businesses can leverage the potential of bots to deliver quick and real-time responses to their customers.
  • One To One Response – Customers are looking for immediate one-to-one responses. Chatbots do precisely that, enhancing the customer’s experience.

How AI is helping businesses serve and retain customers better

Improved Lead Generation

Conversational AI bots are incredibly advanced and can easily engage customers using personalized messages to customers throughout the journey.

Chatbots are highly effective for lead generation and can help businesses, prompt customers, in making quick decisions. 

These bots use questionnaires to convince customers for lead generation, ensuring significantly higher conversions.

Boosting Lead Generation Using Chatbots – How?

  • Superior Lead Qualification – Businesses can use bots to qualify leads by asking them relevant questions, directing them towards the concerned sales team for quick conversions.
  • Conversational bots can further schedule appointments of your visitors with the sales team if there’s no one available at the time.
  • Superior Lead Nurturing – Chatbots can help nurture qualified leads based on the customer’s journey. 

Let’s say there’s an ecommerce business. A Chatbot can offer personalized recommendations, discounts, and offers to improve sales and conversions.

Reduced Customer Service Cost

Implementation of a bot is not an expense. Instead, it’s an investment. Conversational bots help businesses optimize costs associated with customer services. 

Bots enable businesses to save on overhead costs that are invested in hiring support staff.

What are the costs you can reduce at various levels?

  • Salaries
  • Training
  • Infrastructure

Apart from the cost factor, customer service with AI bots also has a plethora of benefits associated with them. Some of them are:

  • Scaling up chat support as and when required
  • Automation of business processes
  • Warrant new customer servicing models and practices.

Moreover, AI-bots can be scaled during peak business hours without any added costs. Bots add immense value to the company’s bottom line by ensuring a seamless brand experience for customers.

Smooth Customer Onboarding Process

Customers need to be guided, and they, ofcourse, love to be pampered. Even if you provide them with a tutorial or a guide, most of them would never find the required information on their own.

Customers will always prefer a brand that directs them and help them save time and effort. At this specific point, chatbots have the power to come in handy, allowing your business to educate customers and ease the onboarding process.

Enhance Customer Onboarding Using Chatbots – How?

  • Conversational bots can collect information by asking relevant questions to customers based on which they can be routed in the best possible way allowing them to make the right decisions.
  • Bots can help with comprehending what customers have found or haven’t found, which can then push customers along the conversion funnel.
  • Businesses can create a better user experience during the purchase journey by personalizing the questions that a chatbot is equipped with

Wrapping Up – Prepare Your Business for Success with AI-bots 

Bots are transforming businesses across verticals by adding new and exciting dimensions to various industries – customer service, engagement, marketing/sales.

Businesses across the globe in major cities and rural areas must plan to leverage the power of bots for all the points mentioned above.

Look out for the areas of concern and deploy AI-powered bots to achieve your desired business goals and objectives.

With the many benefits that bots bring to businesses in Urban and rural areas, it would be a fallacy if your business bucks the trend and delays in making the most of bots.

How does Technology Affect the Future of Customer Service and Support?

Technology is ever-evolving, and it brings out the best with it to enable businesses to interact with their existing customers as well as potential customers. With enthusiasm to achieve excellence and offer the best services, businesses continuously push themselves to resolve customer queries and support them without any hurdle that has started a battle between digitization and the human touch in customer service. Humans no longer want to wait for more than 1 minute, which calls in for bots as they are 24*7 available to resolve the queries.

The question of how technology affects the future of customer service and support is not an easy one to answer. There are so many factors that are constantly evolving the business landscape—and even more opinions on what may be best for your company. While one person might say that companies should automate everything, others feel like there will always be a role that would need a human touch to understand and execute the business and customers’ needs.

As per a survey conducted by PWC, around 64% of U.S. consumers and 59% of all consumers think that companies today lack the human element of customer experience. 

Basically, support chatbots are used to automate the first level of customer service during peak hours. During that time, chatbots can answer simple questions and direct customers who need more assistance to a human. Businesses can avoid making customers wait on hold for long periods of time, especially when they want an answer to something simple.

There’s a strong correlation between the growth of technology and customer expectations, and as technology advances, so do customers’ demands. With the evolving customer service industry, customers are also increasingly expecting flawless customer service from businesses that call in for chatbots that are responsive, accurate, and to the point.

Acknowledging this shift in customer preferences, many companies are re-evaluating their chatbot strategy. For example, chatbots can now deliver personalized service experiences for consumers based on their previous interactions.

As the report suggests, 56% of customers stopped purchasing from a brand and switched to another because of a single bad experience. So, it can be safely quoted that if businesses want to meet customer demand for perfectionism, “hiring the right people” is not all it takes. Businesses must also adopt new customer service technology to meet these baseline customer expectations and exceed them.

Customers want chatbots that are not just there when they need them, but that behave like humans.” –Kiran Prasad, Chief Technology Officer of IBM Watson.

This article will explore customer service technology and the future of customer service and support.

What is Customer Service Technology?

Customer service technology is a set of software and hardware solutions that emphasize improving the customer experience and empowering agents to deliver better customer support and service. Customer service technology trends allow businesses to provide a more personalized communication experience and save money.

What is the Role of Technology in Customer Service?

In the customer service industry, technology is being used to increase the efficiency of customer interactions with businesses. As reports suggest, In 2016 chatbots helped with 35% of customer interactions and developments, with an estimation that by 2021 chatbots will handle up to 85% of all interactions.

The advantages chatbots give are they provide answers instantly and do not need a large call holding time that human interaction would need. Rather than waiting hours on the phone, or days for a reply to an email, customers can make instant communication through the use of live chats or social media interaction. 

Although chatbots can handle many questions and comments, they cannot match the ability of human understanding and creativity. Despite chatbots having limitations in what they can do, chatbots help customer service agents meet increased demand for their services.

Ashish Nigam, CIO, and CTO of PTC India Financial Services Limited said,

“Chatbots or telephones are not enough for customer interactions, as customers prefer in-person meetings over digital interactions. However, technology plays a crucial but limited role in giving actual data of customers to the management”

The Future of Customer Service Technology

In today’s competitive marketplace, the best and only way to win over customers is by providing them exemplary customer service. The speed at which technology has begun to impact the way companies do business is quite incredible. As Alan Sugar once said, “Looking back, the greatest invention that impacted my life was not actually a product or service but an organization called Uber.” He’s not wrong.

Technology impacts every aspect of the customer experience, starting from placing an order, asking for help to resolve queries, or making a complaint. It adds value to the customer’s experience by helping the customers’ throughout their journey with the businesses.

Nowadays, customers expect a lot more from customer service interactions. Customers are increasingly connected with the bots and chat-based interfaces across most websites, be it the insurance sector or e-commerce. But we can not assume that it is the end of technological evolution.

Chatbots: Are AI Chatbots Capable of Handling Customer Services?

Chatbots are becoming a crucial part of the customer service industry. They help businesses reduce customer service costs by up to a great extent in some cases. They undoubtedly are replacing live agents as the first touchpoint for people seeking information on websites and apps. But this certainly doesn’t mean that they are indispensable or so essential, that they will make human interactions redundant.

While bots are outperforming humans in the customer service industry, they have their share of advantages and disadvantages. Many consumers say that they prefer humans over bots. Without knowing both sides of the coin, we can’t hope to answer the question — are AI chatbots capable of handling customer services?

Bots have their own advantages and loopholes, as they answer customers’ queries within seconds, possess no downtime, and cannot perceive human emotions impeccably. Due to technological advancement, they can pick up on nuances of language and expression-based o interactions but can not pick up on sentiments. 

When it comes to choosing between chatbots and agents, there is no clear winner. A human agent might do you better in certain situations, while a chatbot can handle a few tasks with more ease.

The best solution is for chatbots and humans to work together and deal with any sort of unexpected issues, giving businesses a commendable support strategy that covers any possible gaps.

IVR: Predict Customer Intent to Enhance CX

In today’s fast-paced world, the new digital-savvy customers expect simple, intuitive, interactive, and personalized interactions, providing a better customer service experience. To fulfill this, Businesses have started incorporating Voice Recognition, AI, and Machine learning to build Conversational IVR that enables more personalized and human-like conversations.

Where IVR is essential in the customer support and service industry, Businesses can implement IVR to enhance customer experience. IVR services are integrated with other support systems for faster response time, workflow management, improved agent productivity, and customer satisfaction.

An IVR (Interactive Voice Response) helps to resolve problems while keeping the customers happy effectively. IVR is a more dynamic, conversational, and intelligent system that allows customers to contact the right department throughout the journey for seamless interaction.

Businesses use the digital IVR to guide and steer customers to the optimal channel based on agent availability and wait times and offer them call-back options. IVR helps the contact center balance volumes across channels, keep SLAs in check, which reduces customer frustration up to an extent. It also helps predict the customers’ intent based on previous interactions and data to enhance customer experience. Aside from the customer benefits, businesses can personalize and contextualize customer interaction by incorporating IVR.

How Can Contact Center AI Change (and Lift) Customer Experience and Engagement?

In a digital-first post-pandemic world, exceptional customer experience has become a priority without stepping out, and organizations are paying close attention to making it happen with inbuilt AI technologies in contact and cloud centers. AI is a driving force in contact centers that enables delivering superior customer and agent experience with the help of automation tools. Innovative technologies like ML, Intelligent Automation, and Contact Center AI are helping businesses thrive and succeed in a post-pandemic world.

As one of the leading technological aspects, Artificial Intelligence (AI) keeps gaining popularity for both sales professionals and marketers and has become an essential part of providing an exceptional and hyper-personalized customer experience. A report predicts that the AI market size will reach US$ 270 billion by the end of 2027.

The availability of AI-enabled customer relationship management (CRM) and enhanced customer data platform (CDP) software has introduced AI to businesses without incurring high costs associated with the technology.

Thanks to advanced research and technological breakthroughs, today, businesses are at the point of uprisings in the customer service industry, which is the main reason for the rise in technologies such as AI and ML. With technological advancement and advanced speech analytics, Contact Center AI enables businesses and their bots to understand the human language, emotions, speech patterns, the customer’s real intent, emotions, and implied needs and become a knowledgeable replacement for a better customer experience.

51% of companies are incorporating AI to improve and personalize their customer experience and enhance customer engagement.
– Salesforce

As per Statista, The global AI market is projected to explode to $126 Billion by 2026 from $17B in 2020. AI-based platforms have revolutionized customer service industries with several automation platforms such as Conversational Service Automation. By integrating AI-based technologies in the businesses, contact centers offer personalized customer experiences, bringing in more efficiencies and cost reductions within customer service departments. Automation of repetitive tasks helps humans to focus more on value-added propositions related to customer engagement.

According to Gartner, By 2022, The value of AI-derived business will create $2.9 trillion of business value, and customer experience will become the center of this hike. 78% of the professionals working in the contact centers think that AI will positively impact customer success operations. AI embedded solutions are the key to an advanced future and empower better results for all the customers.

AI-based technologies and automation are recognized as the biggest game-changers in today’s digital world and century. Businesses, whether small or large are currently moving to machine learning and artificial intelligence to transform customer interactions, relationships, revenues, and services. The focus of the customer experience and AI relationship is tools like chatbots, personalized communication, image recognition, and recommendations. 

Nowadays,  It is impossible to ignore Artificial Intelligence (AI) and its impacts on operating business. AI-based tools, services, and programs can transform everything about the business.

The Need of AI in Customer Experience and Engagement

Nowadays, Companies are experimenting and implementing technologies such as artificial intelligence (AI), machine learning, and advanced analytics with a belief to improve the customer experience in the businesses. Enterprises are focusing on leveraging these technologies to automate labor and thereby reduce operating costs.

Contact Center Artificial intelligence (AI) is unleashing a new approach for customer experience (CX) strategy, design, development, and engagement. Customer experience is a competitive driver of success and the most significant source of risk when failing. One of the essential aspects of customer experience enhancement is Data insights. However, Customer experience datasets are puzzling, and the customer behavior is chaotic.

Concurrently, the complexity is precisely why Contact Center AI can release such a lot of significant worth across both customer experience and engagement. Call center agents, employees, or the salespersons in the customer-facing businesses and contact centers are not expected to understand a customer’s history based on previous interactions and derive their own insights from it in real-time.

Pankaj Gupta (CTO of Bharti AXA Life Insurance) while speaking at a webinar said, “In the Life insurance sector, Customer Engagement has seen a significant uplift with AI implementation. For instance, various use cases apply to the entire chain, and the most success is on the risk scoring at the time of boarding. With AI, it has become easier to determine which customer needs intervention through calls and messaging based on the previous customer interaction data and their whole lifecycle, making the customer experience more satisfactory and engaging with them more persistently“.

AI helps uplift Customer Service and Customer Engagement

#1. AI helps predict customer behavior

Predicting customer behavior and tailoring the content and interaction based on that is one of the crucial demands in the customer service industry. Amalgamating AI with the customer experience allows for real-time responses, and businesses can also tailor their marketing messages based on their most recent interactions with your company. For instance, AI helps identify customers who use ad blockers and provide them with an alternate user experience.

Combining Contact Center AI with real-time decisions helps agents understand a customer’s intent, recognize their actions, and present highly personalized, relevant content. AI analyzes bulk data quickly, predicts customer behavior, and guides future interactions between a company and its customers.

#2. Augment agent capabilities

Let’s face one fact that is moreover a reality, the customer service departments and people can’t be available all the time, but it is what their job needs. Introducing AI and augmenting agent capabilities have become necessary to streamline the processes and enhance customer services. 

One of the main advantages of AI is understanding emotional intelligence but not getting bothered based on emotions like mundane.  Agents are not going anywhere, any time, soon. But, AI augments the agent capabilities with insights, knowledge bases, alerts, and notifications to do their jobs better.

#3. Improve decision-making

One of the most significant aspects of mundane life is our mind gets tired; we get affected by several factors like fatigue, emotions that interrupt our decision-making, and we often make mistakes. While technologies and machines embedded with AI never get tired and complete the same task again and again with the same accuracy and efficiency. Also, AI helps agents make better decisions based on previous data and real-time insights.

#4. Lower query response time

With the changing pace and advanced technologies, customers have become impatient and need their queries resolved in no time. They ask for immediate solutions to their questions with the best level of customer service. Managing all these tasks might seem herculean for humans but luckily not for machines.  The major advantage of AI is that it never needs to sleep, which empowers businesses to reduce response times to customer queries.  AI empowers a centralized decision-making approach that drastically reduces query resolution time with customers’ 24*& availability support.

#5. Personalize customer experience

Another essential way AI is transforming the customer experience is by tailoring and personalizing the content. Personalized content increases engagement drastically, and it has been noticed that customers are more likely to buy from businesses that follow a personalized approach and make them feel they know what they need. Gone are the days when one size fits all approach – was a mantra to reach out to customers.

Nowadays, each customer is unique, with a unique set of problems and expectations from the brand. While humans can’t offer a personalized experience and content to each customer every time, it is possible with the help of AI. AI understands every customer, their biases, and a unique set of problems and offers customized solutions and query resolutions. Offering a personalized approach and experience to customers also helps businesses retain customers by identifying the probability of mishappenings in advance and offering quick solutions to customers’ delight.

The Future of AI in CX

Artificial Intelligence is one of the next big things in today’s world that gives both businesses and customers an advantage. Implementation of AI in businesses offers personalized experiences to customers that enhance engagement. If AI enters the businesses’ privacy zone, it can bring out a negative experience. Therefore, it becomes essential to strike the right harmony between positive and negative. As Paul Greenberg, the author of the best-selling CRM at the Speed of Light, defines customer experience appropriately “If a customer likes you and continues to like you, they will do business with you. If they don’t, they won’t“. 

Artificial Intelligence in the contact centers is becoming an indispensable part of modern CRM. Customer engagement is likely the most crucial element for the contact centers and businesses and experts claim it to be more important than the product or service they offer. As a report suggests, AI will power 95% of customer interactions by 2025.

Undoubtedly, AI, Machine Learning, and Natural Language Processing will get more sophisticated soon, unlocking the unlimited potential to improve in Customer Relationship Management and introducing new opportunities to increase revenue along the way.

We’ve Acquired Cogno AI, a Conversational AI Platform to Enable Intelligent Omnichannel Conversations

The customer engagement landscape is changing faster than ever post the pandemic. At Exotel, we’ve been hard at work helping our customers adapt to these changes over the past 18 months. And we’ve had quite a ride – we merged with Ameyo and raised three rounds of funding. Now, we’re taking it one step further – we’ve acquired Cogno AI, a conversational AI company, to bring intelligence to our platform.

Exotel will now help you have more intelligent conversations with your customers across channels. With both Ameyo and Cogno AI by our side, we have a bouquet of offerings that enable customer engagement across channels, processes, and devices. We’re building a one-of-its-kind full-stack customer engagement platform, so you don’t have to deal with multiple vendors anymore – we’ll soon be able to offer it all under one roof.

How this Acquisition Benefits you

Cogno AI is a conversational AI platform with an omnichannel chatbot, live chat, CoBrowse with video calling and CognoDesk (a minimalist ticketing software). All of this combined with Exotel’s platform amounts to huge benefits giving you a clear competitive advantage:

#1 Shorter wait times for your contact center

High wait times are a common problem in enterprise contact centers. With Cogno AI’s chatbots and live chat capabilities, Exotel will be able to help you build a chat-first contact center with better processes and automation, resulting in faster resolutions and shorter wait times. This not only helps you increase customer satisfaction but also enables you to cater to a modern millennial & gen-Z audience.

#2 Intelligent conversations across all the channels you use

Sentiment analysis with conversational AI has proven to help businesses get better results. But, this is often limited to a few channels. With access to Cogno AI’s NLP & speech technology, we’ll be able to lend this intelligence to all the channels & platforms you use – from WhatsApp to video to voice calls, we’re slowly going to help you have better conversations with customers on each of these channels.

#3 A single platform for all your customer engagement needs

For enterprises, the largest inefficiencies lie in the inability to make disparate systems work with each other. The adoption of new digital channels for business communication is on the rise – more of you are working with multiple vendors to enable omnichannel conversations. While the adoption of these channels has facilitated customer convenience, it has also led to disconnected data and broken customer experiences.

This is one of the biggest challenges we’re trying to solve with this acquisition (and our merger with Ameyo). We’ll soon be able to offer an end-to-end, seamlessly integrated platform that powers intelligent conversations across all channels.

What’s next?

This acquisition makes us the first AI-powered cloud customer engagement platform in the emerging markets. We will continue to work towards our goal of making customer engagement more intelligent and easier for you and would like to thank all our customers for your continued support and partnership.

In the coming months, we will be working on offering the capabilities of Exotel, Ameyo and Cogno AI under a single platform. If this is something that interests you, you can book a consultation slot here and our product expert will get in touch with you soon.

Why Is CRM Integration Crucial For Every Business?

Customer Relationship Management (CRM) software is considered to be the heart of every growing business. The CRM software market is one of the largest and fastest-growing markets in the world. 

Here’s something to ponder:  The global CRM market is projected to grow from $58.04 billion in 2021 to $128.97 billion in 2028.  (Fortune Business Insights 2020)

Today in the digital world, more and more businesses understand the need to use CRM for clients’ data curation to get a clearer picture of the user’s behavior, which is essential for providing a personalized experience.

The decision-makers of most organizations have realized that customer relationships must evolve, considering that the technology, economy, and purchasing habits of the users have changed. CRMs have become essential, and it looks like this is here to stay.

CRM Integration – Vital for Every Business

Here’s why!

Client Management

Most businesses collect large volumes of information from customers, which makes customer relationship management cital. In ancient times (a couple of years ago), organizations had to manage and track things manually, but that’s not the case anymore.

The age of files and spreadsheets is gone, and businesses are moving ahead without dealing with the stress of losing out on files and other information.

CRMs allow businesses to keep track of contact numbers, addresses as well as the pain points of the customers. CRM Integration helps companies to consolidate, synchronize and organize valuable data.

Moreover, even if someday, Mr. Robert from your company isn’t in office, anyone from your team can log into the CRM and access the customer file. Isn’t that amazing?

Profit Tracking

A CRM is undoubtedly an advantage for the sales and marketing team, but it also has the potential to ease up the workload of your organization’s finance department. A CRM is powered by an in-built bookkeeping system that allows you to pull out accurate financial reports in just a few clicks.

Now, what’s in it for your business? This reduces the dependencies on your accountants. They no longer have to spend hours tracking every penny coming in or going out. The CRM also automates a number of repetitive tasks like applying discounts and shipping charges.

Boosting Profits

Does your business have a weak or an average closing rate? Do you miss out on sending follow-ups with customers, which leads to a loss in sales? Or are you unaware of this data? In any of the cases aforementioned, A CRM will prove to be a gamechanger for your business.

One primary benefit that a CRM offers is that it allows you to track, trace and pull out reports which will help you identify the phase of the sales process where your customers are falling off.

This is vital to help you analyze what is and what isn’t working to introspect, re-strategize, and fill the gaps to convert more leads into paying customers.

A CRM can help in stopping potential customers from falling through the cracks. You can also set prompts for follow-ups or even automate follow-up/newsletters, for that matter. And be rest assured, No One needs to come to the office to hit the send button!

Strategizing Sales

Digital marketing and the online shopping system have ensured that a change is vital for any successful modern company. To adapt is the only way to thrive, and to innovate is the only way to boost your bottom line.

A CRM empowers businesses to stay on top of trends and readjust the sales strategy accordingly/as and when required. Businesses can further collect and analyze data of various types of customers. 

How does this help? Let’s say you notice that majority of your customers are women aged between 25 – 30; you will be able to make better and more effective marketing campaigns.

Higher Productivity

For any business, regardless of its size and vertical, knowing what to focus on at the right time is essential for a successful business. CRM allows you to delve deeper into analytics, empowering you to prioritize the tasks and responsibilities of each team member.

According to a survey conducted by Salesforce, businesses that switched to CRMs witnessed an increase in sales by 29% and productivity by 34%.

A CRM system integration is excellent to identify leads that you need to nurture and even pull up customer contact information in seconds or, let’s just say – in a few clicks. 

You can automate a number of tasks using a CRM, which allows your teams to focus on more important tasks – bringing in more sales.

Enhanced Customer Service

Did you know that more and more users are using social media to voice their opinions and comments about brands, and most people, especially generation Z expect brands to respond quickly? 

Here’s something to ponder on:

According to a survey, about 90% of people expect brands to revert to DMs on social media channels within a day. About 44% of the users demand that brands address their DMs within an hour or less.

I’m sure these stats help you realize the importance of customer relationship management for your business. For businesses to thrive in this neck-slitting competition, you must endure that your team stays on top of all complaints and queries. A CRM helps you get a competitive edge by providing you with a detailed complaint analysis.

Using a CRM, it is easy to pull out reports and assess where and why you didn’t perform well, which empowers you to make informed decisions to facilitate a state-of-the-art customer support system.

Higher Customer Retention

A CRM in place gives businesses the support they require in order to give their customers adequate time. The chances of a paying customer coming back to you again are always higher than converting new customers. 

But for that, you must target the right people using marketing channels like email and social media. A CRM offers many intelligent solutions that your marketing team can make the most to upsell and cross-sell products based on the customer’s purchase history.

Automated email campaigns are a great way to target your customers and have proven to help increase customer retention rates and your business’s bottom line.

Can Integrate With Other Software

To make the most of everything at your disposal, the flow of information and data from other software systems to CRM must be seamlessly integrated. 

CRM is powered with easy one-click integration that allows businesses to update their CRM with the database of all customers via multiple tools like PM, sales, marketing, and account tools.

This completely eradicates the need to enter data from other software to the CRM manually, perhaps eliminating the chance of mistakes.

To put the cherry on the cake, CRM tools can now integrate customer data through social media platforms allowing the marketing team to segment, target, generate prospects, convert and finally add to the sales funnel.

CRM – A Game Changer

There are a number of tools out there to help you run your business smoothly. Tools for marketing, lead generation, and automation tools have been developed, and businesses are trying to leverage them. 

To hit the 6 figure mark or dramatically increase sales, it is imperative to upgrade how your business operates. But without actually managing and keeping track of your customers, all your efforts will lead to oblivion. Adapting with time is the only way to thrive. 

If you aren’t making the most of the resources available to you, all your efforts will lead to nothing but a waste of time and money. Investing in a CRM is a great way to boost sales, enhance productivity, save on the overheads and most importantly, increase your bottom line.