Customer experience is the new battle ground for businesses. With consumers increasingly using their mobile devices to access information and get things done, ‘micro moments’ are turning out to be the most important part of the customer journey. What are micro moments and micro experiences? Micro moments are the moments when consumers take to their mobile to learn, explore and buy something new. According to Nobel Prize-winning scientist Daniel Kahnema, there are 20,000 such moments in every person’s waking day.
Brands that target their consumers’ micro moments benefit not only from superior customer retention but also enhanced revenue. For instance, taking a prospective customer on a virtual tour of the hotel or the facilities at a gym prior to reservation are micro experiences that can help accelerate the customer journey, improve decision making, and drive customer satisfaction.
Capturing micro moments with machine learning
Designing effective and successful micro-experiences can be challenging. Most organizations still use traditional methods of creating micro moments and are unclear about the right starting point. Companies need to move from customer journey to the ‘customer decision journey’, and simplify the flow across all touch points. One way to do this is to incorporate machine learning enabled chat bots into the customer journey. This will help capture every micro moments and create contextual customer experiences with minimal human intervention.
For example, if a customer wants to chat through an app, a bot can not only engage with the customer in the context of the billing cycle and the amount due, but also promptly offer applicable waivers or credits. This, in turn, is likely to expedite the customer’s decision making process regarding the payment.
Artificial intelligence-based solutions not only ensure contextual customer interactions but also maintain enterprise context by ensuring that all the billing rules and guidelines are followed and updated, before presenting a decision to customer. The result: the ability to serve end customers in a single session leading to higher rates of first call resolution. By enabling proactive personalization, contextual interaction, and scale, cognitive intelligence enhances customer experience during micro moments, leading to superior customer satisfaction.
Discovering hidden value in the customer journey through cognitive intelligence
Much of the data generated across the customer journey is unstructured data that is not analyzed —or what is called dark data. IDC estimates that by 2020, as much as 37 percent of the digital universe will contain information that might be valuable, if analyzed. The unused data or dark data can be used to build cognitive intelligence along the customer journey by developing systems that can think abstractly, comprehend complex ideas, and learn quickly from repeated interactions.
For instance, if telecom customers do not use the services (voice or data) even after a waiver or credit, cognitive systems can help create specialized customer profiles given the customer’s potential to churn. Not only that. The system can also suggest a customized plan to better meet customer’s needs, significantly increasing the chances of retention. Proactively empowering customer service representatives (CSR) with such customer information will not only increase their productivity but also enhance consumer as well as employee satisfaction.
Cognitive computing and AI set to play a pivotal role in the customer journey
With growing advances in cognitive and artificial intelligence, customers will find it more and more difficult to discern AI-based chat bots from human assistance. This is driving organizations to increasingly implement cognitive solutions where and human and machine can co-exist to help customers better. Integrating AI into the customer journey doesn’t necessarily mean huge risks or heavy investments. You can start small and begin by mapping the customer journey across different channels, and setting up a measurement and response framework. This can pave the way for leveraging AI to analyze data, identify key customer focus areas, and plug the gaps during micro moments and micro experiences using cognitive computing.