Revolutionizing Revenue Growth: The Power of AI-Driven Journey Orchestration

Customer needs and behaviors are rapidly evolving. Businesses must take action to understand their customers on a deeper level, moving beyond the approach of grouping customers into segments based on their shared attributes and characteristics. This is no longer enough – it does not provide the quality of insight that CX teams need to deliver the individualized experiences customers demand.

The focus today and going forward must be on customer-led journeys – and the key to this is AI. Superseding the manual and clunky processes of the past, AI-powered platforms such as Alterian’s Real-Time CX empower businesses to better understand customer journeys and leverage these insights to improve and optimize them to reduce costs, increase loyalty, improve engagement, and boost revenue.

In this article, we examine how AI enhances the performance of Customer Journey Analytics and Journey Orchestration, improving customer experience and business performance.

Truly understand every customer in real-time, at scale, with AI-powered Customer Journey Analytics

Understanding your customers as they interact with your brand across all channels is critical to identifying their needs and maximizing the performance of the customer experience. However, without the power of AI to aggregate and analyze so much raw data in real-time, this task is extremely difficult and one that most CX teams just cannot perform. This leads to poor customer experiences, rising drop-offs and churn rates, reduced CSAT, and less conversions – which means less revenue.

Through the power of AI, Customer Journey Analytics is able to pull all customer journey data from all channels as interactions are happening, allowing CX teams to see and analyze the information with efficiency and ease. Real-time dashboards and journey flows improve the experience by helping teams to:

  • Quickly and easily analyze and understand customer behavior
  • Identify journey friction points and prioritize the most critical problems
  • Pinpoint opportunities to reduce costs and boost revenue
  • Make efficient decisions that will optimize the customer experience.

Predictive customer analytics that model and forecast customer journey behavior are also an extremely powerful and cost-effective way to optimize the customer experience. Plus, leading Customer Journey Analytics platforms will integrate with your existing systems, data points and customer channels, so there’s no need to replace any of your existing technology.

Prioritize every customer with AI-driven Customer Journey Orchestration

Ensuring every customer feels in control and at the center of their own journey is critical. That’s exactly what AI-driven Customer Journey Orchestration technology does. Through the power of AI, Journey Orchestration identifies and learns from the real-time behavior of each customer, understanding their patterns and preferences as they engage across different channels. Using this information, it will then deliver the next best action in the moment to keep the individual moving towards their goal.

For example, a customer wants to apply for a credit card. However, they quickly become overwhelmed and frustrated by the multiple steps and channels involved in the process and ends up choosing another credit card provider.

Now consider this same scenario but with AI-powered Journey Orchestration added. By individualizing each step of the customer’s journey, leveraging all the available information to suggest the next-best actions to suit their needs, Journey Orchestration is able to ensure the process to get the credit card is streamlined and seamless for them. The customer is able to easily apply and sign up for the credit card in a way that best suits their needs. In short, AI helps to create a positive and effortless experience for the customer that rewards both the individual and the business.

“By using AI, brands are helping customers along their journeys based on what they are doing at a given point,” says Alex Thompson, Alterian’s Product Director. “Instead of pushing them down a journey that the business has decided, AI will look at all journeys and use key insights to model, decide, and deliver the most relevant next best action for the customer based on their needs and preferences.”

Businesses that use AI-powered Customer Journey Analytics and Journey Orchestration to develop a deeper understanding of their customers and leverage these insights to improve outcomes are at a huge advantage. It is proven to increase journey completions, reduce the number of costly negative experiences, lower average cost to serve, and, most importantly, generate more revenue for the business. Furthermore, AI saves time and resources by helping teams to understand and improve customer journeys at scale more easily.

Along with the value it adds to the business, the customer also greatly benefits from enhanced and individualized experiences. In return, they will reward the businesses that deliver on their needs. With that in mind, Thompson says “The early adopters of this technology will come out lightyears ahead of their competition”.

Want to learn more about AI and how it can optimize customer journeys and boost revenue? Get in touch with our team.

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