Over the past decade, tech-savvy firms like Amazon, Uber, and Netflix have conditioned customers to expect service that is personalized for them, accessible on-demand across multiple channels, and responsive to their needs at that exact moment. These companies are adopting a mentality described as “care is the new commerce.” This mentality focuses on eliminating artificial silos between marketing, sales, and customer service. After all, a customer is a customer, not ‘marketing customers’ or ‘service customers.’
Transitioning to this new approach entails more than promoting it as a mantra. For many organizations, it calls for a massive undertaking in three areas:
1. Creating a customer data platform to get all customer data in one place
2. Building a unified system of engagement that allows customers to interact across all digital and physical channels
3. Leveraging analytics and artificial intelligence to personalize customer engagement
Organizations, today, that want to improve brand loyalty continue to offer solutions instead of personalizing the offerings. They are also channeling too many resources towards the acquisition of new clients when the retention of existing customers is clearly more valuable. But very few of them are visualizing the customer experience from another perspective, thinking of all the steps that the customer goes through in their journey while making a purchase decision.
In an attempt to solve these issues, many companies have developed a number of machine learning models. However, a majority of these models are static, like decision trees. Moreover, implementing these kinds of systems can be very expensive for a small to medium-size business with limited resources.
PredictivEye utilizes a dynamic AI platform to improve customer acquisition and increase retention rates. We collaborate with SMEs to understand their customer segments, increase cross-selling and up-selling opportunities, increase customer retention, and predict churn.
We team up with businesses to find an optimum solution to meet the needs of the customer at every stage of their journey – Awareness, consideration, purchase, retention, and loyalty.
To know more about how we co-create your growth, Request a Demo today!