In today's landscape, personalisation holds unprecedented significance. Our current era demands personalised approaches to not only capture but also retain and satisfy customers. In a realm marked by low loyalty, generic communications present a palpable risk for businesses. Loyalty has become a shifting entity, with consumers seeking personalisation as an integral facet of their chosen brands' offerings.
McKinsey & Company states that 71% of consumers expect personalisation, while 76% of those same consumers get frustrated if they cannot find personalisation in the brands they interact with, leading to churn. The study also claims that 75% of consumers switched to a different brand because they weren't satisfied with the experience they were getting.
Essentially, Service Providers are under pressure to deliver the next best experience to their customers. However, technological limitations are endangering their ability to reinvent their business, posing several challenges, such as:
Fragmented Customer Experience
Lack of consistency on customers’ journeys, leading to frustration and buying decision barriers.
Poor customer insights
Drowning in data, caused by technology's absence to transform facts into knowledge.
Lack of just-in-time response
Incapacity of trigger actions, as a result of a siloed and complex systems’ compound.
Inability to personalise
Lack of technological flexibility to deliver unique experiences, tailored to customer expectations, based on their potential.
So, how can Service Providers extract value from the scattered data available to better serve customers? And how can they offer an unmatched value proposition that can’t be copied, aligned with customers’ expectations?
With Celfocus’s approach, customer knowledge augmentation and activation become the differentiators to truly deliver a personalised cognitive care. Our solution brings a value proposition focused on tailored experiences and business activation through capabilities that enhance the client’s systems.
Solution Principles
Three main principles represent the crucial pillars of Celfocus’s solution:
Extract Customer Value
Data is one of today's most valuable assets, therefore, having a clear vision of who our customers are and being able to transform data into knowledge is crucial and a key differentiator to enrich the customer experience and the business value.
Personalised Engagement
The transition from a traditional segmented, rules-based approach to a hyper-personalised approach is mandatory and leads to tailored and one-to-one business experiences. Artificial Intelligence & Machine Learning (AI & ML) models can leverage this, delivering real-time personalised experiences tailored to individuals based on the relevant and actionable insights triggered. These insights also induce customer behaviour, leading them to make valuable, informed decisions and actions.
AI-Driven Automation
Leveraging AI to automate repetitive and time-consuming manual tasks, and transforming processes to be more efficient and less prone to human error is critical to enabling business scalability. Automation also leads to increased productivity and efficiency. Assisting customer service representatives by providing instant recommendations for relevant information and solutions during calls allows them to effectively resolve issues on the first call.
Anchored on these three pillars, Celfocus Personalised Cognitive Care is a modular and integrated solution tailored to leverage Service Providers’ customer knowledge and experience, unleashing the potential of data by transforming it into actionable insights.
The solution is divided into two main modules: Customer Value Augmentation and Enhanced Customer Experience.
Customer Value Augmentation
Customer-related information is spread across multiple and disparate sources. Ignoring this information is missing the opportunity to get to know the customer better, which is essential to delivering an impressive customer experience.
However, processing all the information manually is an impossible task to accomplish. Automating repetitive and time-consuming manual tasks is the solution, transforming processes to be more efficient without compromising quality.
The main purpose of this module is to automate these activities and give meaning to large volumes of data, transactions, and documentation to build comprehensive customer knowledge, fundamental for a personalised customer care.
The Customer Value Augmentation module addresses three main domains:
Enhanced Customer Experience
Insights are relevant to obtain a comprehensive view of the customer, nevertheless, they must be activated to truly deliver value to the business. This module allows for a holistic approach to the care journeys, delivering an enhanced and personalised customer experience.
The Enhanced Customer Experience module addresses three main domains:
In saturated and highly competitive markets, harnessing the full potential of hyper-personalisation-driven customer value management will be the main driver of future growth and better customer care.
A continuous and efficient engagement throughout the customer lifecycle can lead to significant benefits and outcomes, such as: Up to -50% Acquisition Cost; Up to +30% Customer Retention; Up to 2.5x Conversion Rates; +10 to 30% Efficiency Marketing Spend; +5 to 15% Uplift Revenues; Up to +20% Net Promoter Score.
These numbers are due to the following effects of using a Personalised Cognitive Care solution:
Challenge: High number of contacts transferred from bot to agent
Solution: Use Large Language Models (LLMs) to better understand the intent and increase automation handover
Benefits: Bot-to-human handoff – +82% intent recognition accuracy improvement in production
Challenge: Difficulty to assess Net Promoter Score (NPS) for all contacts (surveys)
Solution: Apply sentiment analysis to all contacts to infer satisfaction levels
Benefits: Real-time NPS at scale – 100% of population analysis in all contact channels compared with current 10%
Challenge: High human effort gaining context from bot-to-human handoffs
Solution: Contact summarisation & tagging for faster context and analysis
Benefits: Call duration time – 80% to 95% summarisation capacity over transcript text
Challenge: Low agent compliance with predefined conversation rules
Solution: Monitor contact flow to check all required steps
Benefits: Process compliance – Agent compliance with the process interaction script, assuring the execution of mandatory steps
Challenge: Difficulty finding the relevant information the customer is looking for
Solution: Use natural language & cognitive indexing capabilities to understand, refine and find the relevant content
Benefits: Content relevance – Suggest the most relevant documents and links in the knowledge base
