Customer self-service: the essential cost-reduction strategy

While cost-cutting measures are essential to profitability, businesses must not compromise customer experience in order to achieve it. Every time a customer interacts with a brand, they expect seamless, convenient, and personalized interactions and that must always be the priority. When done well, customer self-service can help businesses achieve that very goal – all the while lowering operational costs and improving efficiency across the business.

In this article, we look at the ways self-serve can help to reduce costs by empowering customers to solve their needs and examine the important role CX, AI, Journey Analytics, and Journey Orchestration play in delivering this success.

Always consider the customer experience

When it comes to customer experience and engagement, expectations are high. People today demand speed, convenience, 24/7 availability, and personalization. Self-service allows businesses to do just that, empowering customers to solve their own needs while also reducing the reliance on more costly service channels. This improves customer satisfaction and increases conversions. In fact, 47% of businesses reported an increase after implementing self-service.

But what does effective customer self-service look like and what measures should businesses take to ensure a positive customer self-service experience? Most importantly, self-service interactions must feel easy, efficient, and relevant for the customer. This means personalization based on customer data, along with user-friendly UX and UI that enables customers to efficiently find the information they are looking for. Additionally, businesses should take advantage of feedback loops, using the insights to continually refine and improve self-service solutions.

Leverage AI to power self-service

AI plays a crucial role in self-service, enabling businesses to better understand individual customer needs and deliver the most relevant and accurate self-service options. This enhances issue resolution, streamlines operations, and reduces operational costs through automation. Powered by AI, chatbots, virtual assistants and other similar tools can deliver the instant responses and 24/7 availability customers want, while AI-powered journey orchestration solutions enhance interactions by delivering personalized communications tailored to each customer’s preferences. These intelligent systems also handle routine queries and tasks autonomously, eliminating the pressure on more costly service channels.

Journey Analytics: the best self-service starts with understanding

Before you can deliver effective self-service solutions that meet the needs of the customer, you must first be able to see and understand them. This is where Journey Analytics comes in, empowering you to analyze customer interactions across all channels and touchpoints, anticipate potential issues before they arise, and gain insights into individual behaviors, needs, and preferences. With these insights, you’re able to identify pain points and areas for improvement in your self-service offerings, as well as pinpoint and resolve costly or ineffective self-service paths.

Optimizing self-service with Journey Orchestration

While seeing individual customer behaviors and understanding their needs are vital components of self-service delivery, you want to be able to act on these insights to maximize outcomes. Using the power of AI, Journey Orchestration works to understand customer behaviors and preferences, anticipate individual needs, and deliver self-service interactions relevant to their needs. This helps to ensure seamless and frictionless self-service journeys, which in turn strengthens customer satisfaction and loyalty. Moreover, it allows businesses to gain a complete picture of each customer and use these insights to reduce costs through self-service while optimizing journey outcomes.

Creating a holistic self-service ecosystem

Successful self-service strategies rely on a holistic ecosystem that seamlessly integrates data, insights, and action. Having this in place not only helps to improve operational efficiency but it also reduces the need for human intervention on routine tasks and straightforward customer service requests.

A connected self-service ecosystem also allows businesses to leverage cross-channel data-driven insights and refine their offerings on the go. Additionally, it helps to foster greater customer satisfaction by ensuring the delivery of relevant and personalized interactions that align with individual needs. Over time, this leads to increased customer retention and advocacy, driving sustained revenue growth.

By adopting Alterian’s Real-Time CX Platform, renewable energy provider Iberdrola USA were able to create a fully connected system that helped them to better understand journeys and use these insights to guide more customers to self-serve in real-time. This helped them to significantly reduce call volumes, lower costs, and improve overall customer satisfaction. Find out how they did it here.

Looking to the future – what’s next?

As more businesses adopt self-service initiatives and CX technologies continue to evolve, leveraging AI-driven journey analytics and implementing personalization at scale will become imperative to remaining competitive. Conversational AI tools, such as chatbots and virtual assistants, will make more of an impact as their technology advances and allows them to better understand customer enquiries and interactions with greater efficiency and accuracy. This will lead to more effective and human-like interactions that foster positive experiences and outcomes for customers and businesses alike. Likewise, as voice-activated tools become smarter and more prevalent in our every day, they’re set to be increasingly relied on in business as a preferred customer self-service option.

Integrating these advanced self-service solutions with traditional customer service channels will enhance overall customer experiences, establishing self-service as a fundamental element of all CX strategies. Well-implemented self-service initiatives hold the potential to greatly enhance customer satisfaction, streamline operations, and cut costs, which is so critical in today’s market. As customer expectations advance, businesses that prioritize self-service will gain a distinct competitive advantage.

Want to find out how Alterian’s Real-Time CX Platform can support your self-serve goals? Get in touch with our team today.

Looking to the future – what’s next?

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