3 Reasons Why AI Is the Biggest Opportunity in Customer Success
AI’s potential to deliver on efficiency and innovation for your company is staggering. It’s no wonder that more than 70% of executives at the top 100 global companies believe AI will have a significant impact on their business – and we’re not just talking about cutting costs here, either! The McKinsey Global Institute predicts that AI could increase productivity by up to 40%, double the growth rate, and lead to an annual economic boost of up to $13 trillion in 2030. With these numbers, it seems like a no-brainer: if you want your company to thrive in today’s digital economy, you need AI.
Integrating Artificial Intelligence (AI)/Machine Learning (ML) into the customer service equation can help businesses scale more efficiently without sacrificing quality or quantity. AI provides scalable solutions that focus on customer success management while simultaneously saving time (and money).
In this blog post, we’ll focus on how AI can improve Customer Success and explore three reasons why AI could be your best bet for getting ahead of the competition and driving better net revenue.
AI Builds Comprehensive Customer Profile with A Single Click
To build a comprehensive customer profile, you must collect all existing raw data about the customers starting with the CRM database (such as Salesforce) to emails, texts, phone calls, online reviews, and any support tickets. Yes, it is pretty extensive!
“Gathering and analyzing large data is so easy and fun!” – Said no one ever.
As a Customer Success Manager, you must already have a lot on your plate, let alone dealing with such a large set of data.
In fact, the process of translating raw data into meaningful insights is exceptionally tedious (if not impossible), time-consuming, and labor-intensive.
This where AI comes in.
AI can reduce the time spent analyzing and synthesizing big data to help your company develop a deep understanding of customer profiles such as customer health, customer intent, customer sentiment, etc. With these insights, you can make educated decisions to fit your customer needs best.
At Involve.AI, we don’t just measure; we also provide actionable insights. Unlike the competition, we trained our AI model on customer success best practices based on industry, business model, relevancy, and data. We auto-adjust based on data changes, and the outputs are organized on a single dashboard to make your decision-making process much more efficient.
Pro Tip: Integrate AI to do the analytics while you focus on decision making.
AI Makes Forecasting More Efficient And Accurate
AI continues to learn from past and current data to predict future trends accurately.
In the backend, AI studies thousands of customers’ data points (both quantitive and qualitative) while simultaneously comparing them to the industry best practices to evaluates and generates the most up-to-date readings about your customers’ health.
Further, AI requires minimal human intervention. You only have to train them once. This powerful deep learning feature of AI allows your firm to be more productive, adaptive, and responsive to market changes.
As your company scale and expand, your customer database will grow exponentially, resulting in better AI accuracy. It will continue to grow brighter as it collects more data and feedback.
Pro Tip: AI will scale with you. The earlier the AI integration, the more intelligent AI becomes.
AI is the Hardest Worker In The Room (24/7 Customer Service)
Lastly, AI is an intelligent solution that works 24 hours a day and 365 days of the year. It never takes a vacation, any sick leave, or personal time off (which means it’s always available).
Customer service powered by AI yields superior reliability compared to human counterparts. That is, AI is much less susceptible to the “emotional roller coaster.”
They don’t show up to work late, hangover, or angry.
They can also execute more complex and advanced tasks. That means they can take on a wider variety of customer service responsibilities more efficiently. When you’re a customer-centric business, your customers must have access to help at any time. And artificial intelligence is the best way to do that.
AI is the Game-changer for Customer Success Management
In conclusion, AI is a scalable solution for customer success while simultaneously saving you time and money.
One of the most compelling AI features for customer success managers is its ability to handle large data sets with just one click, making it much easier than managing those same tasks manually. AI can forecast trends, track product usage, and prevent churn with high accuracy due to its deep-learning ability. And it doesn’t sleep!