How AI Can Optimize An Omnichannel Strategy
July 13th, 2022
Artificial intelligence has radically changed the way businesses can optimize an omnichannel strategy. It’s a tool that enhances the way people interact with companies, by facilitating personalization, user experience design, and content management. Keep reading to discover how artificial intelligence can help your company’s omnichannel experience.
AI and machine learning are growing at a rapid pace, but many companies aren’t utilizing these technologies to achieve success with their marketing efforts. Although some are overwhelmed or apprehensive of artificial intelligence, it’s important to explore the benefits of using AI to optimize an omnichannel strategy. Gartner predicts that companies that use AI across multiple platforms for their customer engagement will see an increase of 25% in operational efficiencies by 2025. So now is the time to employ an AI-driven omnichannel experience.
What is an omnichannel experience?
Over the last few years, companies have gained a lot of interest in the term ‘omnichannel.’ In fact, 73% of customers engage in multiple channels (Harvard Business Review). This term refers to the integrated communication strategy that created a cohesive brand experience across all your channels to create a smooth customer experience. The goal is to deliver a consistent brand message for the customer or user to access products and services from wherever they choose to engage with you. For example, mobile apps, web, email, and social media.
How can artificial intelligence make this challenging task easier?
Omnichannel is no longer a plus but a must. Customers across most sectors are more connected and demanding than ever. They know what they need from companies, and most have moved from traditional ways of engaging. 98% of Americans use several devices during the same day (Payments Dive). This means that companies need to embrace and implement an approach that meets these needs allowing customers to bounce between touchpoints easily.
4 Benefits of using AI for your Omnichannel Strategy
1. Understand consumer behavior and preferences
One of the most important benefits is the ability to understand your consumers and anticipate their requirements or preferences. 42% of customers prefer businesses that remember their behavior (Ayden). By using AI, companies can make predictions based on past and present insights. Historical data, real-time performance tracking, and customer feedback allow companies to take appropriate action, understand consumer behavior, and even predict trends. In doing so they can create products that are specifically tailored with their customers or users in mind. For example, knowing which device they usually engage from, what they’re likely to buy, and even what their budget is.
2. Elevate the customer experience
AI creates a whole new level of customer experience. The modern hyper-personalized approach means that companies can generate suggestions by recognizing patterns, discovering preferences using unstructured data, and analyzing which channels are most effective for each type of customer interaction.
This results in a customer journey that meets expectations. It can even provide options that the customer didn’t know they needed, through product discovery and post-purchase customer service. For example, Lamoda offers product suggestions based on the weather in the user’s location. The customer experience can be improved both physical and digital formats. For example, Uniqlo has incorporated AI in its stores by installing AI-powered kiosks to measure reactions to different clothing items. With this information, it can make future recommendations.
The customer experience also becomes more convenient using AI because customers don’t have to remember which channel they shopped in or what payment method they used. They can shop and pay from any device at any time. As well as this, customer support is easier by using AI, because companies can offer self-serve options rather than waiting for live agents. For example, automate messages or FAQs. For example, many companies have now introduced AI-powered chatbots so that customers can inquire if certain items are in stock.
3. Improved campaign tracking
The advances in artificial intelligence mean that companies can gain more detailed insights to predict trends to make rapid and dynamic changes to improve marketing effectiveness. AI helps track campaigns, understand purchase decisions, and analyze why certain platforms are succeeding. By evaluating what works for current customers they can also design strategies for potential new customers. This tracking also helps companies adjust their strategies to facilitate both short-term and long-term goals. For example, adapting to seasonal trends, inventory levels, or competitor changes.
4. Boost sales
Ultimately by using AI to optimize an omnichannel strategy companies can see higher conversion rates, drive sales, and fuel revenue growth. A higher level of transparency and consistency across all platforms creates and increased customer loyalty and satisfaction. Customers that are constantly attended to are able to find what they are looking for and make informed decisions which inevitably boosts sales. In fact, companies that offer a strong omnichannel experience see a 9.5% year-over-year increase in annual revenue (Aberdeen Group).
Ready to see what we can do for you?
In the right hands, artificial intelligence can take human performance to a hitherto unimaginable level. Are you ready for evolution?