Leading brand strategist Colin Chow talks about the intersection of brand and customer experience and how a purposeful brand is the foundation for success.
How to Prepare For Your Brand’s Superbowl Moments
By now, you’ve realized that shying away from interactions with your customers is a concept entering the stone ages. There’s an argument to be made that losing customers because of bad CX is costlier than the CX investment you make to provide them with VIP experiences. Read that again, and then once more.
At least 9.5% of your revenue is at risk due to bad experiences, and a 5% increase in retention rate can lead to a rise in profit between 25% to 95%. For B2B SaaS brands, 1% reduction in churn can lead to a 38% increase in ARR over 3 years.
These numbers tell a compelling story that the customer experience your brand delivers is just as important as your product or service, and bad experiences impact your bottom line more than you think.
The customers of today expect hyper personalized, proactive experiences, and this is especially important during your brand’s “Super Bowl moments” — the times of the year when your product or service is in high demand and interaction volumes spike.
Brands have learned (and sometimes the hard way) that preparation for these moments should come early. Assembling the various components needed to show up for customers during these make-or-break events takes time and consideration, especially if cost saving and efficiency are on your mind.
Across industries — from Ecommerce to SaaS and FinTech — the approach to hyper-personalized brand interactions changes, but the foundation remains the same. Investing in the right platforms early will give you the flexibility to scale up and down as these Super Bowl moments come and go, so you can save on CX costs without sacrificing SLAs.
With AI-powered automation handling the bulk of interaction volumes, you can focus on putting together a winning CX strategy that leverages the strengths of your automation and human resources to deliver VIP experiences when they matter most.
Here’s how different industries can use AI-powered automation to crush their Super Bowl moments.
How to win in ecommerce
For brands in the highly competitive ecommerce market, keeping up with changing customer needs and expectations can feel like trying to hit a moving target. BFCM is now a 2 month long event, with shoppers starting to browse as early as the last week of October and well into the end of December. During this season, interaction volumes increase exponentially, and every single one of them needs to contribute to a VIP shopping experience.
Applying conversational AI as the first layer of interaction between shoppers and your brand can help you seamlessly scale your support operation while scaling headcount, and set you up for a touchdown this season.
Automate the low hanging WISMO fruit
Where Is My Order (WISMO) inquiries consistently take up the highest percentage of interactions during BFCM, and they’re probably one of the best suited interactions for automation.
By integrating conversational AI into your ecommerce system, you can provide shoppers with instant visibility into their order delivery statuses, regardless of which channel they’re asking on — chatbot, SMS, social messaging, etc. All they have to do is simply enter their order number or email address into the chat to get information about its status.
To relieve agents and provide more high-value brand interactions, Project 44 teamed up with Ada to help Indigo execute strong CX after expanding its network of delivery carriers.
Using Ada’s platform, Indigo was able to integrate a conversational AI solution that conducts simple order lookups, provides status updates, and gives customers the information they need in seconds. The results were staggering.
In a six month period, Indigo saw a 14% reduction in orders requiring customer service intervention, $150,000 saved in customer service staffing costs, and 120,000 potential delivery delays proactively re-routed during the holiday season.
Personalized product recommendations and upsells
Conversational AI capabilities are accelerating past bare minimum agent support. With fierce competition waiting on the sidelines, increasing cart values and checkouts requires hyper personalization of your brand interactions.
Customers need assistance with the nitty-gritty of purchasing, from product discovery and recommendations, to sizing and fitting guidance, inventory updates, and targeted discounts that come in at the right time. For example, a discount message that comes in at the moment a user opens your ecommerce site versus that same discount prompt at the moment they click on a specific product or add it to their cart is going to have very different results.
Conversational AI can (and should) assist in sales conversion. When reviewing sales from customers who engaged in a chat before making a purchase, Forrester found a 10% increase in the average order value compared to those that did not use chat. You can offer personalized options to upsell and cross-sell, and to speed-up and simplify the checkout process.
Automating these kinds of interactions ensures that you're delivering a VIP experience to all the shoppers visiting your site, from pre-sales, to checkout, and post-sales support.
How to win in SaaS and FinTech
SaaS and FinTech brands need the to ensure they are delivering a harmonized and consistent brand experience throughout the the end-to-end customer journey.
Siloed departments and data ecosystems make this difficult. Holistic CX relies on your brand’s ability to optimize the conversion funnel, from marketing, to support, to sales. And to do this, you need a tool that can capture and contextualize customer data quickly into proactive brand interactions.
Put it this way: if proactive interactions are the branches that reach your customers where they are, your ACX platform is the tree, and customer data is the H2O that feeds it.
SaaS and FinTech companies need a platform that captures insights at the moment of interaction to prepare them for their next play — this becomes even more critical moving into Super Bowl seasons.
Investing in your CX strategy early allows you to get ahead of the game and leverage variables and conditions to trigger targeted campaigns and offer customers personalized experiences that drive engagement, conversion, and revenue. This can be deployed everywhere from everywhere a customer may look to interact with you, from your website to social messaging channels.
Taking a data-driven approach to CX will allow you to measure conversational AI’s effect on your bottom line. With integrations like Ada’ Engage’s Goals and A/B Testing, brands can track custom-set goals and measure the impact on desired business outcomes and easily track customer success.
Measure the leading indicators of revenue through your conversational AI, like the number of demos booked, leads generated, and checkouts fulfilled. Run experiments, optimize quickly, and improve performance with agility. Emerge victorious.
Sarah Fox is a scuba-diving, animal-loving journalist turned content marketer. In her career, she’s covered stories on development, written profiles on notable philanthropists, and interviewed celebrities with a passion for giving back. When she’s not producing content for Ada, Sarah’s likely fawning over her dog somewhere in the woods.