Permit me to point out, though, CXM isn’t a “one size fits all” solution. What may work for one customer may not apply universally. In the context of this blog, though, let’s focus on artificial intelligence (AI) and how it ensures customer experience monetization.
Permit me to start by restating-AI is not a generic solution. One simply cannot just implement AI-there are larger implications. While there is, indeed, a large amount of hoopla around AI, let’s not forget, there’s no field tested and proven solution for AI. Every solution, every use case that’s been built so far can only be improved, not replicated. If one chooses the latter over the former, well, they’ve merely limited the possibilities. Therein lies the nub of the argument-the field is yours to prove and implement.
AI and CXM: A Multi-Faceted Equation
There may be a million ways to address this point (and why not, don’t forget, all data provides some outcome!). A very straightforward approach would be thus-AI enables companies to ensure real-time decisioning. How? Well, the data is on hand. Customers haven’t really changed their patterns, except every decision is usually made “in the moment”. And apart from the fact, of course, that the sheer number of decisions has increased dramatically.
So, AI, in a nutshell, enables companies to inject predictability with a fair degree of accuracy whilst dealing with customers. The idea is to see if the likely short term future outcomes of a customer’s actions come to the fore.
AI-Based Use Cases That May Turn the Tide for Operators
As I mentioned before, countless use cases for AI (and indeed, any technology) exist. And are only becoming more intelligent, with the domain shifting constantly. Within the scope of the CXM domain, though, two primary use cases must be focused on, if one is serious about retaining customers, of course.
Leveraging AI Intelligently
This is, to be honest, a bit misleading. Here’s how-the very idea of introducing AI in the CXM domain is to enable operators to compliment the customer’s expectations. To be where the customer is. And so on, of course.
Now, that a clear set of priorities has been defined, the next step is to create a roadmap of how to intelligently leverage AI. Perhaps something on these lines..?
What’s crucial to remember is that AI is directional. Don’t mistake it for “artificial execution”-it can only do so much. It cannot address a challenge. It may offer a leaner, meaner structure for problem solving but one’s still got to execute the same, for best results!
On a parting note, permit me to put it simply, yet succinctly. Focus on breaking the clutter. Focus on customer retention and making the brand. Focus on AI as a tool in your arsenal, not the arsenal itself. For, isn’t the bottom-line providing an unforgettable customer experience?