AI and You: The more you learn, the less you churn!
In the health and fitness industry we are all aware of the importance of customer engagement as a function that can aid in selling better, improving retention efforts and effectively knowing the pulse of your members through feedback. Some do this very well, some try, and some don’t really do it at all. Customer engagement has been a pillar of service-based industries almost from the beginning; traditionally in the form of surveys, emails, direct mail with notification of discounts or current promotions (for those of you born after 1995 that would be snail mail). However, things, as they tend to do, changed.
The advent of the internet, mobile technology, social media, wearables and beacons has changed the paradigm completely. Business are now bombarded by the myriad sources of their customer/members’ data: their CMS and billing, their web traffic monitoring, their social media presence and the ability to respond to both customer criticisms and positive comments (Yelp, FB, LI, Twitter, Blogs, Club Website and Club App), any business intelligence tool(s), data warehouses and apps to name a few!
Wow! Go back and read through that again….
I was just naming a few and I’m tired. So how do the other businesses address this? How do they effectively sift through the data so that it’s actionable data?
That’s where the AI part comes into play. Artificial Intelligence technology should:
- Empower customer service representatives to deliver relevant actions and offers through direct engagement, upon check-in.
- Analyze vast volumes of customer data and social media content, such as identifying the characteristics of high-value members/ customers, member check-in patterns by attrition risk.
- Provide a simple, user-friendly interface
- See valuable and actionable member data at a glance.
- Have a machine learning component
All sounds good doesn’t it? The challenge is that some companies struggle to understand AI’s opaque and proprietary algorithms. Making it hard for them to purchase and evaluate these solutions in a traditional manner. Fortunately, there are steps companies can take to demystify AI and make more strategic use of this innovative technology.
- AI benefits the customer experience. Examples include getting better product offers, faster customer service, and more relevant messaging from favorite brands. Think of the Tom Cruise scene in Minority Report, as he was walking through the department store.
- Transparency tops the list of features valued most highly among business leaders, and for good reason: Consumer trust is the foundation for real engagement. In response, companies should disclose information on how consumer data is being used and stored, and the precautionary measures being taken to protect consumer privacy—a critical step in building trust with customers. More than a courtesy, appropriate levels of transparency can also help companies meet today’s stringent data privacy regulations.
- With AI’s ability to mimic intelligent human behavior, employees may fear losing their jobs to AI tools. To assuage these fears, companies must show employees what’s in it for them. A sales associate can use AI to make a better offer on a renewed contract; a personal trainer is more likely to sell a service when he can offer personalized advice. By underscoring the advantages to employees, companies can drive greater adoption of AI.
- Living and breathing employees are still a critical part of the customer experience equation. Maintain the human touch to your business. Part of the challenge is that many of the other experiences feel more like pre-scripted interactions than natural conversations.
With its powers to anticipate customer needs, optimize employee workflows and drive revenue, AI technology cannot be overlooked. Challenges will emerge, like data privacy concerns and employee adoption, but by carefully balancing the use of innovative tools with consumer trust and transparency, companies can better engage their members and improve their bottom line.
Reunify Pulse application can bring you and AI together!