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Penning blogs on customer experience management (CXM) can get tricky after a while. The bottom-line of each piece is simple-a sound CXM strategy can make or break a business.Here’s the interesting bit, though. Equally important factors in the CXM game are the tools of the trade one opts for. There are, without a doubt, a plethora of options to choose from. But which strikes (or is likely to strike) the right note?

Permit me to point out, though, CXM isn’t a “one size fits all” solution. What may work for one customer may not apply universally. In the context of this blog, though, let’s focus on artificial intelligence (AI) and how it ensures customer experience monetization.

Permit me to start by restating-AI is not a generic solution. One simply cannot just implement AI-there are larger implications. While there is, indeed, a large amount of hoopla around AI, let’s not forget, there’s no field tested and proven solution for AI. Every solution, every use case that’s been built so far can only be improved, not replicated. If one chooses the latter over the former, well, they’ve merely limited the possibilities. Therein lies the nub of the argument-the field is yours to prove and implement.

AI and CXM: A Multi-Faceted Equation

There may be a million ways to address this point (and why not, don’t forget, all data provides some outcome!). A very straightforward approach would be thus-AI enables companies to ensure real-time decisioning. How? Well, the data is on hand. Customers haven’t really changed their patterns, except every decision is usually made “in the moment”. And apart from the fact, of course, that the sheer number of decisions has increased dramatically.

So, AI, in a nutshell, enables companies to inject predictability with a fair degree of accuracy whilst dealing with customers. The idea is to see if the likely short term future outcomes of a customer’s actions come to the fore.

AI-Based Use Cases That May Turn the Tide for Operators

As I mentioned before, countless use cases for AI (and indeed, any technology) exist. And are only becoming more intelligent, with the domain shifting constantly. Within the scope of the CXM domain, though, two primary use cases must be focused on, if one is serious about retaining customers, of course.

1

Leveraging AI Intelligently

This is, to be honest, a bit misleading. Here’s how-the very idea of introducing AI in the CXM domain is to enable operators to compliment the customer’s expectations. To be where the customer is. And so on, of course.

Now, that a clear set of priorities has been defined, the next step is to create a roadmap of how to intelligently leverage AI. Perhaps something on these lines..?

2

What’s crucial to remember is that AI is directional. Don’t mistake it for “artificial execution”-it can only do so much. It cannot address a challenge. It may offer a leaner, meaner structure for problem solving but one’s still got to execute the same, for best results!

On a parting note, permit me to put it simply, yet succinctly. Focus on breaking the clutter. Focus on customer retention and making the brand. Focus on AI as a tool in your arsenal, not the arsenal itself. For, isn’t the bottom-line providing an unforgettable customer experience?

May 3, 2019 0 comment
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If you look back at the history of technology you find that what we know is not often what will be.  What we forecast is likely though not often the result.  Only one can guess how many trillions of messages of all types will be sent and shared by 2020.  Forecasters say close to 3 trillion messages will be sent annually but if you look around the room and around the globe you only see the tip of the iceberg in user growth and use cases for messaging.  When I grew up we had one rotary telephone and one TV.  Now everyone has a TV in their hand and messaging types beyond your wildest imagination bombard you like hurricane.  Sometimes SMS, chat apps, videos, email, and realtime meetings are all occurring at the same time.  Looking forward even a little and beyond our traditional thinking, if digital transformation takes place in one industry can we not expect it to have a ripple or tsunami effect in many others. For example, take a look at Mahindar Comviva’s white paper on Digital Transformation and you will see an interesting view of the changing world of messaging.  In another sector, IoT-internet of things devices will also be sending messages to me and everyone else on their chat lists to let people know what is going on.  Are you beginning to see the compound or exponential growth in the world of messaging?  Looking at this from another angle that of a provider or operator there has been the long “race to zero” where once high fees were charged for SMS, long distance and other services are now free.  Now fee-based services are bundled together so the customer sees value in the overall benefit rather than any one feature or app.  New fee-based features may arise though the business models may vary whether subscription or advertising derived revenues can level the playing field or even give rise to sustained revenues.  Linkages with other business all aiming for the customer will be the new “middleman” in the mix.  That is, companies who link with other companies to message you about things you need or want.  Some are obvious like Amazon buying Whole Foods to bring all their other business to you whether you walk in the door, home delivery or even by drone in the future. At the same time there are tens of thousands of startups and others that are building unique and valuable solutions to solving specific problems with innovative technologies such as artificial intelligence, machine learning and wireless tech. I like to think that there is a new wave coming quickly of technology embedded literally in everything we buy including food, medicines, wearable and anything else that we do that will improve our lives in many ways we haven’t even thought about yet.  For example, we really don’t know much about what we eat and its impact on our health.  Yes, we know there are a lot of bad things but we don’t know conclusively if we eat one thing for twenty years that it will give us cancer or that it will help us live a lot longer.  There are so many medical issues that via IoMT-internet of medical things that may be able to improve our lives, give us more energy and less live-threatening diseases later.  I like the idea that my IoMT device will give me a warning or even a nudge when I eat something I shouldn’t or say that my weight-loss goals could be achieved if I did more of one kind of exercise than another.  You can now see the world of messaging goes far beyond us chatting with each other which opens up even more possibilities than I have time to discuss today.

September 11, 2018 0 comment
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