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What do companies need to do to stay competitive in the fast-changing world of customer experience? Today, it’s all about focusing on customer centricity, personalization, omnichannel, trust, and leveraging artificial intelligence.
SAP Customer Experience LIVE showcased companies succeeding with these strategies, and unveiled technologies that point to a bright future for customer experience. Intelligent CX enables personalization at scale by harnessing the power of AI and analytics while respecting and protecting customer data.
Woven through the examples and stories shared was a universal theme of optimism – optimism that AI and CX will help businesses deliver more personalized, relevant, and meaningful experiences for their customers.
CX in the age of AI
This year’s SAP Customer Experience LIVE highlighted modern CX strategies that brands must embrace in order to keep up with the competition:
- Personalization: Hyper-personalization is essential for exceptional customer experiences. Businesses should leverage data and technologies like AI to understand customer preferences and tailor their offerings accordingly.
- Omnichannel: Brands simply can’t compete without providing a seamless experience across multiple touchpoints. By integrating channels and providing consistent interactions, businesses can create a unified and convenient customer journey.
- Big data: With so much customer data, organizations have a tremendous opportunity to gain deep insights that guide decision making. By analyzing customer behavior and preferences, businesses can optimize their offerings and improve the overall customer experience.
- Trust & transparency: Building trust is essential for building long-term customer relationships. By being transparent, providing value, and prioritizing honesty, businesses can foster customer trust and loyalty.
- AI & automation: AI-powered technologies help improve customer experiences by automating processes, providing personalized recommendations, and enabling proactive customer service. By leveraging generative AI features, businesses can uncover new opportunities for customer engagement.
Exploring intelligent CX
At CX Live, SAP introduced the four pillars of intelligent CX:
- Connected
- Insightful
- Industry tailored
- Adaptive
I’d argue that these are smart pillars for leaders focused on getting the most out of their customer experience efforts. Let’s take a closer look at each.
Connected CX is when the customer journey is designed proactively and intentionally to help customers have the most seamless experience possible. A great example of this is how global footwear and accessories retailer ALDO connects customers with the right products in its digital catalog based on inventory, location, and preferences data.
Connecting backend processes with customer-facing systems means each touchpoint is personalized and relevant to the customer. Internal processes and employee actions are optimized, as well.
Insightful CX is providing the right actions based on insights driven by both customer data and operational data. For example, when customers are searching for an out-of-stock item, insights about them and the organization can provide appropriate recommendations for alternative items.
AI is able to glean insights around location, trends, and past purchases, which can then be applied to personalize CX and help the customer feel seen and understood.
Industry-tailored means businesses customize experiences to meet the specific needs and expectations of their industry, which boosts customer satisfaction and loyalty. Each industry has unique needs and customer expectations. AI can help businesses deliver unique value to their customers.
Adaptive CX is about dynamically adjusting CX based on real-time data and changing customer needs. With the help of generative AI, businesses can now automate routine tasks, manage catalogs, and provide intelligent self-service to customers. This ensures a seamless and personalized experience throughout the customer journey.
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With AI, a bright future ahead for CX
SAP’s commitment to data security and privacy is noteworthy. The company uses proprietary AI capabilities and follows strict AI ethics practices to prevent customer data from being shared with third-party vendors. This ensures that customer information remains protected and confidential, which fosters trust.
Overall, SAP’s introduction of generative AI features in its CX suite signifies a leap towards enhancing customer experience. By using AI-driven insights and automation, businesses can deliver personalized, meaningful experiences to their customers while streamlining their own operations.
The future of AI and CX is indeed promising, offering new opportunities for businesses to excel in the customer experience arena.