5 Oct 2022| Blockchain
How Artificial Intelligence is Empowering CRM?
Customers are the growth factor for any business across the globe. Better customer experience and high customer satisfaction levels always help businesses to sustain and thrive in their respective industry. It also helps organizations to gain a competitive advantage. CRM aims to improve the customer relationship with the brand by providing better and faster customer service.
CRM, or Customer Relationship Management, is a technology with a combination of strategies and practices that manage and analyze your brand’s relationship and interactions with your customers as well as potential customers. CRM platforms help you improve business efficiency and in customer retention. Introduction of Artificial Intelligence in CRM platforms will simplify most of the complex and tedious tasks, without human intervention. Artificial Intelligence will strengthen CRM activities by improving system efficiency and driving sales growth. Overall, increasing the productivity of the business. Now let us understand in detail how AI is empowering CRM.
The ultimate goal of CRM is to provide better experience to your customers and build a positive relationship with them so that they keep coming back for your services. However, when an enterprise fails to provide real-time and satisfying responses to your customer, they will search for better possibilities. Here, your company loses a valuable customer. AI-powered CRM provides remote assistance to your customers. These virtual assistants acts as a human secretary, interacts with customers 24X7, schedule client meetings and perform other repetitive tasks. AI tools in CRM can connect you to meeting rooms, take notes and schedule follow-up meetings.
Usually, knowledge about a person’s behavior in advance will assist you to interact with that person in the most appropriate way. And this interaction will help you to build a good relationship with that person. The same thing implies to customers as well. AI enabled CRM platforms can analyze the customer data and identify the behavioral pattern of the customer which help you to understand the customer behavior. Since social media is the best channel to acquire customer data, AI- powered CRM platforms utilizes various social media platforms to acquire customer information. It analyzes this data and predict the customer behavior in advance. This will allow organizations to develop strategies and plan campaigns accordingly. Overall, it will generate quality leads and create a positive brand image.
Consumers have become smarter with smart technologies and their purchasing preferences and choice of brands have also become particular and smarter. Considering the changing preference of different customers, it is really necessary to segment customers based on data inputs such as customer online behavior, their purchase history and other demographics. AI-powered CRM platforms segment data by leveraging customer purchase history and helps in generating quality leads. Based on this customer segmentation, AI generates personalized messages and send it through appropriate communication channel.
For example, ‘Hey, Peter! Looking for the best clothing this winter?’ Brands send messages with receiver’s name as personalized messages can create a positive impact than push notification. Hyper-segmentation and personalization is the key to convert potential customers into loyal customers.
In today’s highly competitive business landscape, one of the most challenging tasks for an enterprise is to retain their customers. It takes huge effort and time to convert customers into loyal customers. Loyal customers act as the brand ambassadors of your company. Communication is the best way to develop a smooth relationship with your customer which will increase their trust towards your brand. AI-powered CRM platforms analyze the customer data and based on that create a buyer persona. Buyer persona gives you an idea about what and when to communicate with the customer. It also helps you to decide on the most appropriate channel to communicate. This will improve the customer loyalty and increase the customer retention rate.
Customer relationship and its management is one among the most important aspects of an enterprise. And CRM plays a significant role in helping you to achieve high customer satisfaction level. AI-powered CRM redefines brand’s relationship with their customers by automating routine tasks, providing insights into customer data and delivering fast responses to customer concerns. 24/7 virtual agents are reducing load from your service agents. Artificial Intelligence is empowering CRM and there is no doubt that the combination of both will continue to improve customer experience with advancements in AI technology.
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Tags: Technology Artificial Intelligence