For too long communications service providers (CSPs) have been falling behind in customer experience (CX), while other industries have evolved to deliver amazing results. Retail, banking, and even some insurance companies are creating superior customer experiences that double as a competitive advantage. So, what’s stopping CSPs from achieving the same success? A number of factors come into play, including the complexity of service delivery and changing consumption models. But in the face of these challenges, artificial intelligence (AI) is here to help.
As an industry, many CSPs have earned the reputation of having poor service standards, but digital natives such as Netflix and Google are threatening disruption, so the time to act is now. The stigma surrounding CSPs’ CX can be attributed to their one-size-fits-all bundled products, reactive customer service, and complex systems. And this doesn’t even take into account the long customer service wait times and full-day service windows that customers dread. It’s clear that many CSPs need to address their problems surrounding the sub-par experience customers expect to receive.
New technologies are already helping savvy CSPs achieve their potential to dramatically improve customer experiences and separate themselves from the general industry reputation. AI is a key factor in doing so; it’s being used to proactively combat customer dissatisfaction and deliver the personalized, relevant experiences today’s customers demand. With AI, CSPs can offer solutions before a customer is even aware a problem exists, and serve up relevant and timely offers based on a customer’s unique needs.
Below are three key areas where CSPs can apply this transformative technology to stand out from the crowd and turn prospects into profitable, lifelong customers:
- Stop churn in its tracks – It’s reported that customer churn can result in $65 million in lost profits per month per carrier. Those dollars add up quickly and can wreak havoc on a company’s balance sheet. But AI can be used to identify customers who possess a “high churn risk” based on data collected from account activity, call satisfaction statistics, and other personal account details. AI can make the most relevant offers to customers based on their propensity to accept, as well as their potential future value to the company.
- Be proactive – The concept of proactive customer experience has been around for years, and brands such as Amazon are winning this game. CSPs can catch up and get ahead with the maturation of AI. Customer service organizations are using AI-powered CRM systems to see how customers have engaged with their brand on different channels in real time, account activity, as well as network events such as call drops and billing overages. These intelligent systems combine real-time context with customer data and analytics to provide the timeliest, most relevant, and high value interaction. If problems are detected, the system has the ability to proactively address issues before the customer is even aware they exist or has a chance to report them.
- Transform the call center – Productivity is of the utmost importance in any call center. While there’s concern that AI-driven robots will eventually replace jobs, the reality is that these tools act as an extension of your team that can enhance human abilities, make employees even more productive by completing redundant and time-consuming tasks. AI-powered bots turn any voice or text-based channel into AI-powered virtual assistants that use natural language processing and text analytics to deliver personalized engagement. When necessary, the bot can seamlessly hand off the issue to a call center agent. For example, a bot helps a subscriber on Facebook Messenger understand why he went over his data limit, suggests a plan better suited for his lifestyle, and immediately activates it so he can continue to stream the big game. This improves the experience for employees and customers, a clear win-win.
Now is the time for CSPs to seize new opportunities presented by AI and flip the script when it comes to CX. Customer needs and expectations are only going to increase, and CSPs must implement the right technologies with the customer in mind. The end result will drive meaningful relationships that dramatically improve customer experience, drive down customer churn, and ultimately drive up profits.
