As AI and data analytics advance, consumers grow more sophisticated. Earning their trust and loyalty becomes easier when supported by technological innovation.
According to studies conducted by Bain & Company, acquiring a new customer is 7 times more expensive than retaining an existing one. Moreover, according to the same source, if we increase by 5% the investment in customer retention, we can increase profit by up to 95%. To achieve this high retention rate, Artificial Intelligence currently plays an almost essential role, being a great ally in this objective. A transparent, reliable, and effective AI will drive business growth and strengthen customer retention and acquisition strategies.
AI maximizes access to information around customer needs, behaviors, and data to hyper-personalize offers, reinvent the market, and enable services to be tailored to their circumstances. A clear example of this is AI-powered chats, as they can help customers get answers to their questions faster and more efficiently, creating better customer engagement. An AI chat application understands the customer's needs and automatically responds with pre-written answers or even engages in complex dialogues with the customer to resolve their queries.
Together with AI, predictive analytics allows companies to promote this hyper-personalized service while allowing agents to manage a high volume of data in a simple and agile way. In the current digital era, personalization of services and customer retention are two of the great challenges for which AI and analytics can be a very valuable tool. The competitiveness of companies depends on proper customer retention, and predictive analytics offers an innovative solution to help companies maximize customer retention and improve their results. The more information agents have, the better they can serve customers. Predictive analytics leverages data to identify trends and customer profiles, enabling more efficient and personalized service.
At Intelcia, we are aware of the power of information, and we work with predictive analytics to optimize Customer Journey interactions with the intelligent use of data to improve and streamline commercial actions, after-sales, retention, recovery, etc. We have a specific solution at Evoluciona in which we use AI to maximize the customer retention process, developing a predictive model based on neural networks that provides real-time information to retention service agents about the propensity and rating of each customer that interacts with them. In this way, and based on the information provided by the model, customer routing strategies are carried out to certain specialized groups, and the agents are assisted with specific negotiation arguments and with an offer of products and services adjusted to the customer profile to enhance the retention capacity.
