• Login
No Result
View All Result
My Blog
  • Home
  • World
  • Politics
  • Business
  • Science
  • Tech
    What One Entrepreneur And Investor Is Saying On the Unique Growth Opportunity In the Life Science Industry

    What One Entrepreneur And Investor Is Saying On the Unique Growth Opportunity In the Life Science Industry

    Dubai Chamber Of Digital Economy And Entrepreneur Middle East Publish A Report On The Prospects Of The Dubai’s Digital Economy

    Dubai Chamber Of Digital Economy And Entrepreneur Middle East Publish A Report On The Prospects Of The Dubai’s Digital Economy

    Never Worry About a Low Battery with This Wireless Charger, Now $80 Off

    Never Worry About a Low Battery with This Wireless Charger, Now $80 Off

    5 Cybersecurity Predictions Home Users Need to Know for 2023

    5 Cybersecurity Predictions Home Users Need to Know for 2023

    Listen to Music Without Blocking Out the World with These Headphones

    Listen to Music Without Blocking Out the World with These Headphones

    Air India To Use ‘Coruson’ Software For Safety Management

    Air India To Use ‘Coruson’ Software For Safety Management

    Trending Tags

    • Sillicon Valley
    • Climate Change
    • Election Results
    • Flat Earth
    • Golden Globes
    • MotoGP 2017
    • Mr. Robot
  • Entertainment
    • All
    • Movie
    • Music
    • Sports
    The ‘Dune’ Miniseries Is a Fascinating Piece of History

    The ‘Dune’ Miniseries Is a Fascinating Piece of History

    Coinbase Offered Them Dream Jobs—and Then Took Them Away

    Coinbase Offered Them Dream Jobs—and Then Took Them Away

    The January 6 Hearings Are Fighting for Your Attention

    The January 6 Hearings Are Fighting for Your Attention

    12 Best Messenger Bags (2022): Crossbody, Slings, Shoulder Bags

    12 Best Messenger Bags (2022): Crossbody, Slings, Shoulder Bags

    Big Tech Has Become a Creature of the Swamp

    Big Tech Has Become a Creature of the Swamp

    Sea to Summit Alto TR1 Review: A Fantastic Ultralight Tent

    Sea to Summit Alto TR1 Review: A Fantastic Ultralight Tent

    Prediction Engines Are Like Karma: You Get What You Stream

    Prediction Engines Are Like Karma: You Get What You Stream

    ‘The Quarry’ Lets You Experience What’s Great About Slasher Films

    ‘The Quarry’ Lets You Experience What’s Great About Slasher Films

    Summer Game Fest’s Biggest Announcement? A ‘Last of Us’ Remake

    Summer Game Fest’s Biggest Announcement? A ‘Last of Us’ Remake

  • Lifestyle
    • All
    • Fashion
    • Health
    • Travel
    nurse

    Everything You Need To Know About Nurse Residency

    Drug detox

    Are you the right candidate for medical detox?

    The Benefit of Using Sunscreen Protection

    Gift Ideas for Celebrating a Loved One’s College Acceptance

    What are the major reasons to form gall bladder stones?

    The ‘Dune’ Miniseries Is a Fascinating Piece of History

    The ‘Dune’ Miniseries Is a Fascinating Piece of History

    Coinbase Offered Them Dream Jobs—and Then Took Them Away

    Coinbase Offered Them Dream Jobs—and Then Took Them Away

    The January 6 Hearings Are Fighting for Your Attention

    The January 6 Hearings Are Fighting for Your Attention

    12 Best Messenger Bags (2022): Crossbody, Slings, Shoulder Bags

    12 Best Messenger Bags (2022): Crossbody, Slings, Shoulder Bags

    Big Tech Has Become a Creature of the Swamp

    Big Tech Has Become a Creature of the Swamp

    Trending Tags

    • Golden Globes
    • Mr. Robot
    • MotoGP 2017
    • Climate Change
    • Flat Earth
  • More
    • Directions
  • Home
  • World
  • Politics
  • Business
  • Science
  • Tech
    What One Entrepreneur And Investor Is Saying On the Unique Growth Opportunity In the Life Science Industry

    What One Entrepreneur And Investor Is Saying On the Unique Growth Opportunity In the Life Science Industry

    Dubai Chamber Of Digital Economy And Entrepreneur Middle East Publish A Report On The Prospects Of The Dubai’s Digital Economy

    Dubai Chamber Of Digital Economy And Entrepreneur Middle East Publish A Report On The Prospects Of The Dubai’s Digital Economy

    Never Worry About a Low Battery with This Wireless Charger, Now $80 Off

    Never Worry About a Low Battery with This Wireless Charger, Now $80 Off

    5 Cybersecurity Predictions Home Users Need to Know for 2023

    5 Cybersecurity Predictions Home Users Need to Know for 2023

    Listen to Music Without Blocking Out the World with These Headphones

    Listen to Music Without Blocking Out the World with These Headphones

    Air India To Use ‘Coruson’ Software For Safety Management

    Air India To Use ‘Coruson’ Software For Safety Management

    Trending Tags

    • Sillicon Valley
    • Climate Change
    • Election Results
    • Flat Earth
    • Golden Globes
    • MotoGP 2017
    • Mr. Robot
  • Entertainment
    • All
    • Movie
    • Music
    • Sports
    The ‘Dune’ Miniseries Is a Fascinating Piece of History

    The ‘Dune’ Miniseries Is a Fascinating Piece of History

    Coinbase Offered Them Dream Jobs—and Then Took Them Away

    Coinbase Offered Them Dream Jobs—and Then Took Them Away

    The January 6 Hearings Are Fighting for Your Attention

    The January 6 Hearings Are Fighting for Your Attention

    12 Best Messenger Bags (2022): Crossbody, Slings, Shoulder Bags

    12 Best Messenger Bags (2022): Crossbody, Slings, Shoulder Bags

    Big Tech Has Become a Creature of the Swamp

    Big Tech Has Become a Creature of the Swamp

    Sea to Summit Alto TR1 Review: A Fantastic Ultralight Tent

    Sea to Summit Alto TR1 Review: A Fantastic Ultralight Tent

    Prediction Engines Are Like Karma: You Get What You Stream

    Prediction Engines Are Like Karma: You Get What You Stream

    ‘The Quarry’ Lets You Experience What’s Great About Slasher Films

    ‘The Quarry’ Lets You Experience What’s Great About Slasher Films

    Summer Game Fest’s Biggest Announcement? A ‘Last of Us’ Remake

    Summer Game Fest’s Biggest Announcement? A ‘Last of Us’ Remake

  • Lifestyle
    • All
    • Fashion
    • Health
    • Travel
    nurse

    Everything You Need To Know About Nurse Residency

    Drug detox

    Are you the right candidate for medical detox?

    The Benefit of Using Sunscreen Protection

    Gift Ideas for Celebrating a Loved One’s College Acceptance

    What are the major reasons to form gall bladder stones?

    The ‘Dune’ Miniseries Is a Fascinating Piece of History

    The ‘Dune’ Miniseries Is a Fascinating Piece of History

    Coinbase Offered Them Dream Jobs—and Then Took Them Away

    Coinbase Offered Them Dream Jobs—and Then Took Them Away

    The January 6 Hearings Are Fighting for Your Attention

    The January 6 Hearings Are Fighting for Your Attention

    12 Best Messenger Bags (2022): Crossbody, Slings, Shoulder Bags

    12 Best Messenger Bags (2022): Crossbody, Slings, Shoulder Bags

    Big Tech Has Become a Creature of the Swamp

    Big Tech Has Become a Creature of the Swamp

    Trending Tags

    • Golden Globes
    • Mr. Robot
    • MotoGP 2017
    • Climate Change
    • Flat Earth
  • More
    • Directions
No Result
View All Result
My Blog
No Result
View All Result
Home Tech

How Conversational AI Bridges the Gap for Retail Customers

by lacygibson
July 30, 2022
in Tech
0
How Conversational AI Bridges the Gap for Retail Customers
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter


expressed opinion entrepreneur Contributors are their own.

Among many other things, the pandemic over the past two years has changed our consumption patterns, 89% of shoppers Express concerns about in-store shopping and proximity to others.

Suddenly, retailers are being reduced to digital channels of customer interaction, and while online retailers have barely felt the change, it’s a new reality for offline retailers to adapt to.This has led to a technological breakthrough that typically takes years to achieve, with the e-commerce sector growing more than 30% in 2020.

More than two years on, retail digitization is gaining momentum, and AI conversational agents are an important part of that. Chatbots interact with customers online, provide information, answer questions, and more. Juniper Networks Research Chatbots are expected to save global retailers $439 million annually by 2023, up from $7 million in 2019. In this article, I will discuss the efficiencies that conversational AI can create for retailers and the common barriers that stand in the way of chatbot projects.

Related: 4 Ways to Use AI to Enhance Customer Experience

Conversational AI meets retail

according to Accenture, chatbots are mostly expected to reduce the time to process requests and increase employee productivity. Here are a few examples of how conversational AI can help retailers address digital challenges:

cut costs

AI-powered chatbots enable businesses to provide great customer service without increasing headcount. The technology enables businesses to make calls when a customer receives an order and still remember the entire communication history with the company. The results from the smartphone will show whether customers are willing to recommend the company to others, and help companies adjust strategies, loyalty programs and reward systems.

Improve service quality

chatbot Voice assistants can answer consumer questions day and night, 365 days a year, holidays and weekends. Unlike human agents, AI assistants do not require sleep and can assist customers even after working hours. Naturally, when customers receive immediate assistance, it increases their satisfaction with the service.

higher response rate

The bot responds immediately in a consistent and specific manner without providing any unimportant information to the customer. When integrated with a CRM system, they can access order history without customers having to repeat basic information about themselves.

better understanding

Chatbots and voice assistants allow businesses to stay in touch with customers and inform them of new products, promotions and discounts. Customers often see information about companies – and they know exactly where to go when they need to buy.

increase loyalty

The consumer sees that his request is understood. This attitude is the basis for building trust and loyalty to the company. Brand advocates are important in competitive industries such as retail, where the cost of attracting new customers is much higher than retaining them.

Faster customer feedback

Personalization in marketing has been around for a while: some 75% of consumers They are “passionate about buying from brands that offer a personalised digital experience”. To provide this hyper-personalization, businesses need specific data, and chatbots can easily handle data collection faster and at a lower cost than call centers.

HR Process Automation

Large retail chains employ thousands of different professionals. They need to find and hire suitable candidates and train new employees according to the company’s standards. Robots can take care of the initial selection of candidates, setting the date and time for interviews, and training schedules.

Related: What small retailers can learn from the industry’s push to AI and big data

Digitalisation in retail: things to consider

While conversational AI can help automate a lot of business processes, there are reasons why retailers are not eager to start adopting the technology.

Traditional CRM Platform

One of the factors hindering the adoption of conversational AI is that retail companies often use traditional CRMs and highly customized billing systems. There are so many different technologies, products and systems “behind the scenes” that business processes are difficult to digitize. Sometimes, to change an order, two to five systems must be used to obtain the required data.

So if a company wants a voice bot that can respond to incoming calls and notify customers of the status of their orders, they need to do all the necessary integrations and make sure the voice bot has instant access to the right systems and data.

But, just as importantly, upgrading systems or transitioning to a new CRM platform for retail is expensive and time-consuming.

Budget

In addition to expensive upgrades, there are other reasons behind the high cost of retail conversational AI projects: from the wide variety of products and data volumes to the need for customization.

That’s why big retail chains are more eager to embrace conversational AI. They have a sufficient number of query subjects and automated results, reducing the load on the contact center, reducing the time to provide information, and ultimately reducing customer service costs.

Today, however, more conversational AI tools allow even small businesses to build rudimentary chat and voice bots to kickstart contact center automation.Use ManyChat, Voiceflow or Dialogue Studiocreating a bot that helps reduce contact center loads during seasonal sales requires little coding skills.

In addition, there are ready-made AI conversational solutions to meet the specific needs of retailers.Therefore, a smart salespersonFor example, helping customers easily navigate mobile apps, use voice commands to place orders and check shipping information, and ask for user feedback after a purchase.

Related: How artificial intelligence can make the retail shopping experience simpler for e-commerce consumers

people

Those venturing into AI robotics projects need to remember that the job doesn’t end there. That means continuous training, adding seasonal items to the catalog, improving the bot scene, and promoting new specials. Here, retailers have a choice: hand over management to suppliers or invest in strong in-house teams.

no panacea

Conversational AI technology can benefit the retail industry in a number of ways, but what works for one company may not work for another. For example, voice bots that act as consultants and salespeople for outbound communication are ideal for products that people often buy: contact lenses, pet food, etc. But the technology is unlikely to work for retailers selling refrigerators — here, a voice bot for NPS surveys would work better.

generalize

Digital transformation is not something businesses can get away with, and the growing market for conversational AI technologies and successful implementations of cases proves that retail chatbots and virtual assistants will soon become an integral part of our lives. Fortunately, as technology evolves, the adoption of conversational AI is no longer the prerogative of large retail chains, and small and medium-sized businesses can start with basic conversational solutions, but the changes will not be too small.

Tags: artificial intelligenceBridgesBuild a Smarter BusinessConversationalcustomer serviceCustomersGapretailretail businesstechnology
lacygibson

lacygibson

Next Post
How Conversational AI Bridges the Gap for Retail Customers

How Conversational AI Bridges the Gap for Retail Customers

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

One Phone to Rule Them All—Apple Unleashes the iPhone 14 Pro

One Phone to Rule Them All—Apple Unleashes the iPhone 14 Pro

5 months ago
How to Set Up Your Apple Watch (2022): Advice Plus Tips and Tricks

How to Set Up Your Apple Watch (2022): Advice Plus Tips and Tricks

5 months ago

Popular News

    Connect with us

    • Contact
    • Read Latest News Around The World – Frapios
    Write Us at: [email protected]

    Copyright Reserved © 2022

    No Result
    View All Result
    • Home
    • Politics
    • World
    • Business
    • Science
    • National
    • Entertainment
    • Gaming
    • Movie
    • Music
    • Sports
    • Fashion
    • Lifestyle
    • Travel
    • Tech
    • Health
    • Food

    Copyright Reserved © 2022

    Welcome Back!

    Login to your account below

    Forgotten Password?

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In