In a world strife with buzz words it can become foggy as to what specific things mean; or furthermore, how they are utilized. AI has not escaped this barrage of marketing lingo over the years and thus become a grand concept rather than an actionable tactic for innovation. But, as with any tactic there must be an end goal in mind. For Retailers, using AI to create personalized interactions across all channels at scale is the most focused. By creating a 360 degree view of customers organizations can begin to understand purchasing motivators and use advanced data sciences to prescribe intelligent actions.
Constant growth and loyalty of market share through advanced customer experiences requires a blend of AI features and models that are aligned and tailored to meet the specific goals of you and your customer. The perfect blend is unique for each organization and ever changing, however. The following is a list of AI features and models that can be utilized for various purposes across all industries and departments to help the people at the core of organizations make better decisions.
Uncover relationships in your data that predict future behaviors and their causes
- Segmentation Insights KPI’s broken out by key consumer segments enabling more effective marketing designs
- Causal Insights What is driving trends, why are purchase behaviors changing
- Action Insights Push notifications with anomaly detection setup across your key metrics to take immediate action
Hyper personalized segmentation that ensures alignment with the attitudes and preferences of your target audience.
- Demographic Income, Education, Ethnicity, Age
- Psychographic Conscious, subconscious, motivations, priorities
- Geographic DMA, Regional, Market, Custom
- Behavioral Purchase history, frequency, Recency, Loyalty
Continuously grow and shrink segments as audiences behave in certain ways to automatically trigger the right campaigns at the right time.
- Realtime Providing consumers with content based on current behavior
- Prioritization/Optimization Business rules dynamically updating segmentation profile.
- Location Geography, Touchpoint (in-store, mobile, Web)
Constant data enrichment to leverage learning based algorithms to create sentiment and customer satisfaction models.
- Consumer Consumer Lifetime Value, Attrition, Propensity, Profiling, Clustering
- Product Affinity Analysis, Co-Occurrence Analysis (MBA), Similarity Matching, Link Prediction
- Pricing Optimization, Dynamic Pricing, Forecasting
- Inventory – ARIMA (assortment forecasting/Seasonal forecasting), Bayesian STS
Evaluate the total experience, bringing all points of contact together for a 360 degree view of your customer’s journey.
- Gap Analysis Identify which “lever” you need to pull ie Social, Transactional
- Sentiment Feedback - Providing success metrics beyond NPS (Net Promoter Score)
- Flow Models – that provide a seamless integration between online and offline purchasing
- Customer First – We design every Journey map with the customers needs and wants at the center
Apply ML and AI to your IVR solutions to identify and enrich experiences
- Sentiment analysis understand the mood and tone of customers as they interact with different products or situations to paint a clear emotional picture.
- Functional Conversations order placement, updates and adjustments.
- Conversational insights Transcriptions provide value into thought process and psychographic motivators of certain segments within a conversation type.
Leveraging 3rd party and social media data to power loyalty driving predictive content based on preferences and sentiment.
- Consumer 360 Social/Sentiment, Survey’s, Demographic, Pyschographic
- Weather Data How is climate impacting sales, enable dynamic targeting based on real-time local/regional weather changes, Severe Weather impact analysis (Hurricanes, Nor’Easters, Blizzards)
- Pricing/Promotion Online/Offline Price monitoring and surveys to enable strategic decisions at the in-store as well as digital shelf
It is important to note that the features in it of themselves will not create an AI powered customer experience. An approach to all technology must remain laser focused on the users and people that they aim to engage with. Disseminating knowledge across entire organizations to enable people to make better decisions must be the goal when creating a smart organization.
To learn more about our Customer Experience Suite, an end to end AI solution for creating omni-channel journeys, or why creating a 360 degree view of your customers and prospects alike is important please reach out to firstname.lastname@example.org
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