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How retailers can deliver personalised experience?

Even though the traditional sales funnel is officially extinct with this new digital journey comes opportunities to collect customer data

Tags: data, IoT, automobiles, electronics

BY Guest author  |  Nov 13, 2018  |  comments ( 0 )  | 
How retailers can deliver personalised experience?

Digital disrupters are finding ways to serve unmet customer demands through the ways, which were unheard of. They’re creating disjointed buyer journeys that are hard to stay ahead of, riddling the total customer experience with infinite touchpoints and removing barriers to entry. According to a study by Harvard Business Review, 73% of shoppers surveyed used multiple channels along their shopping journey, with omnichannel customers spending more compared to those who used a single touchpoint.

Even though the traditional sales funnel is officially extinct, with this new digital journey comes opportunities to collect customer data that we’ve never had before, allowing businesses to take back control.

Here are three equations rooted in data that will personalize the customer experience you deliver:

  • Always on service:Your customers have a growing number of channels at their disposal. To be where customers already are, savvy businesses are integrating chatbots into popular messengers and apps to deliver the level of personal service that’s expected at the first “hello.” With chatbots, data and machine learning join forces to extend an always-open arm of your customer service team and use data to tailor the experience. The second your customer finds you, you’re ready, willing, and able to knowledgeably respond. As an added benefit, communicating in these private chatbot environments encourages engagement – research found that private messages sent by companies have a 96% response rate.
  • Get complete customer view: Artificial Intelligence (AI) is the hottest topic in tech. At a high-level, AI uses machine intelligence to filter through, analyse, learn from, and interpret data in ways us mere mortals can’t. AI has superhuman power that makes sense of millions of customer touches to tell a 360-degree story of individual needs, wants, and expectations – and, it only gets smarter each time new data is fed to it. In near future, it’s certain that customer experience will be fuelled by AI to make interactions more valuable and enhance how we connect with the customer.
  • Data + IoT – Real Time Improvements: Simply defined, the term Internet of Things (IoT) is used to describe the connection of people and things – such as appliances, automobiles, electronics, and consumer goods – to the internet in order to report on configuration, usage, condition, and much more. Even better, it reports problems back to the “mothership” to make real-time improvements on the product itself or others’ use of it. The IoT is the reason you’re able to raise your home thermostat via a mobile app, wear a smart watch that tracks your health and suggests lifestyle changes, and watch a car drive by without a driver.

By unifying all available data, companies can perfectly personalize customer interactions at any moment to amplify engagement – and, both emerging and traditional ways to apply it make those engagements more meaningful.

The article has been penned down by Ratnesh Mehra, Customer Experience Strategy & Transformation Leader-India at Oracle

 





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