Embracing new technology and modifying your business model is the catalyst to a successful business. With Artificial Intelligence (AI) taking over the digital era, it is inevitable for us to ignore all the goodness it brings with it. As a business, it is the linchpin of an organisation to provide a seamless experience to its customers. Transforming and evolving your digital strategy has become somewhat a compulsion than a little need if a business wants to attract customers. It is crucial to view digital transformation as a must-have for your business to stay afloat in this cut-throat competitive era.
Collecting supportive data and understanding buyer personas
It is a fundamental human nature to establish an emotional connectivity with a brand when he can resonate with one of their client stories. When a business shows customer stories with relevant data to back them, it is the most practical way to connect with the target audience. When a company tells their viewers a story, they are portraying that they understand what problems their customers are facing and how they have helped various customers in the past.
This is a quick way of bridging the gap between what the customers expect and what the business provides. In this article, we will discuss ten ways in which AI can take digital transformation to another level and how you can implement some of these strategies in your business.
- A precise understanding of your target audience
Businesses that use AI are quick to see results in the expansion of their customer base. With the use of AI, a company can formulate more defined buyer personas and curate marketing strategies accordingly. AI enables a better understanding of the target audience. This helps a business to know what their customers expect and to strategise and plan accordingly. The target audience can be segmented on various demographics which allows a company to decide the communication strategy, product preferences and marketing strategies.
- Predicting the buyer’s reaction
With the help of AI, it is possible for businesses to create propensity models. These models help in predicting who a buyer will react to a new product launch or a discount offer. These models are beneficial to determine customer behaviour which is directly linked to increasing customer retention. When a business knows what their customers like and how they will react to a particular product or offer, it is easier to formulate strategies that act in favour of consumer expectations.
- Revamping and remodelling business structure
Relying on AI is crucial to revamp and reinvent businesses today. AI helps in curating customer-centric approaches which transform businesses just like the customers expect. AI allows a company to plan and market according to customer’s preference. Thanks to AI, a business can tell what their customers prefer and what they don’t ( to a certain extent), and this ultimately helps in making necessary modifications in your industry.
- Quick response and better customer experience
In the ever-growing scenario of a competitive market, it is vital for businesses to make changes in the way they operate depending on customer preferences. With proper use of AI and implementing the right strategies, businesses can ensure a quick response to their customer resulting in satisfactory customer experience. AI can help in every area such as management, quality management, strategic sourcing and various other aspects that need attention in order to ensure a smooth operation.
- Enhancing security for both customers and investors
Breach of security and privacy is a common issue faced by a lot of organisations. AI organisations are delivering positive results by securing customers information on every network, cloud, various operating systems and on-premise platforms. These secure network frameworks not only help to achieve customer’s data, but they also help in creating error-free systematic strategies. This kind of secure network is called the ZTS ( Zero Trust Security) framework.
- Increasing operational efficiency
AI has aided various organisations in revolutionising their operational efficiencies. It isn’t possible for a human being to be available for support on a business website 24 x 7. This is when AI steps in. Amazon started using virtual assistants for their website, and ever since it has been creating a buzz. It can be straightforward for a customer to get assistance whenever they need it. This virtual assistance can further guide the customer to speak with a live agent if required.
- Analysing buying behaviours
Marketers will be able to understand the reason behind the success and failures of their marketing strategies. Businesses will be able to decide why specific buyers purchased a product and why they weren’t interested in the other products. Companies will be able to track purchase decisions and identify which campaign led to the buyer’s choice of buying a particular product.
- Complete transparency
AI enables customers to stay completely informed. In today’s age, where honesty and transparency are considered as one of the most valuable assets – AI strives to enhance the same. A customer can track and trace their orders right after they have placed it. This makes them appreciate the honesty that the business is showing. Customers want to stay regularly updated with their purchase. With tracking information available to them 24*7, customers gain a sense of trust and satisfaction.
- Cost reduction and higher workforce productivity
AI is making a massive impact on reducing manufacturing costs by simplifying the manufacturing process itself. Surplus production has been reduced significantly, as producers can tell what the customers like and are able to produce according to market trends. AI has enabled manufacturers to manufacture products that are in demand so that no extra or unnecessary products are added to the sales catalogue.
- Keeping everyone informed
Keeping customers, employees, suppliers, and partners in the loop and informed about a business’s digital transformation progress is an excellent way to earn and retain their trust. Especially in these uncertain times, where investors and customers crave honestly, AI could be an angel in disguise for any business. It is easy to update customers as well as investors about any changes in the business framework with the help of an active communication channel.
Kiara McColl is a content manager at Clickmatix digital marketing agency, where she gets to do what she loves doing- writing and managing content with smart digital marketers in the company. She also has expertise in web marketing, search engine optimisation, social media, affiliate marketing. Her strong passion for technology always drives her to explore the changing trends in the digital industry and making people know about it through her blogs.