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The Impact of AI on Building Customer Loyalty Business
The impact of AI on building customer loyalty,Author: Nick Reese,One of the most effective ways to increase revenue is by building customer loyalty. That's because the longer your customer remains your customer, the greater their lifetime value will be, making customer retention a prime opportunity for your next artificial intelligence (AI) initiative. What is customer loyalty?,Loyalty defines the strength of your customer relationships. High-loyalty customers can have a higher average spend and can have more repeat purchases than low-loyalty customers. For example, research has shown loyalty program customers . Not only that, but loyal customers are often your biggest fans; these are the customers that tag your brand on social media, use your hashtags, and tell their friends about your products. In some cases, a loyal customer can be than a new customer who makes a single purchase, which means the more loyal customers you have—and the more loyal they are—the better. While customer acquisition is important, improving loyalty can have a significant impact on your bottom line results, which can justify making it a key marketing initiative. While they are related, customer loyalty is different than customer retention:,By building customer loyalty, you'll often see a positive impact on your churn rate, which mitigates lost revenue. However, customer loyalty also has the ability to drive business growth through larger cart sizes, more cross-sell opportunities, and increased word-of-mouth, making it an important focus in its own right. Building customer loyalty with AI,Artificial intelligence can help you uncover the customer insights required to turn your customers into fans. By using data to improve how you , you can deliver the exceptional customer service required to differentiate your brand in the eyes of consumers. AI is able to leverage data generated by customers interacting with your business to unlock new insights into how they think and what they value from the products and services you provide. By analyzing customers' shopping, searching, and browsing history on your site, wish lists, sales, marketing engagement metrics, customer support chat logs, and more, AI can build a sophisticated model that can . Using this information, you can then do three things:,In addition to increasing your customer understanding, AI can deliver personalized recommendations that help you improve customer experiences. By making every micro-moment of the customer experience personalized to each customer, you can deliver the right offer or interaction at the right moment across the customer journey and delight your customers. Examples of AI-powered customer loyalty use cases,Here are some of the ways organizations can use AI to help with building customer loyalty:,Leveraging AI to create personalized customer experiences lets you create the seamless, fast and personalized connections required when building customer loyalty at scale. Learn how Verizon can help you with artificial intelligence. Choose your country to view contact details. Manage your account or get tools and information. These cookies are necessary for the website to function and cannot be switched off in our systems. They are usually only set in response to actions made by you which amount to a request for services, such as setting your privacy preferences, logging in or filling in forms. You can set your browser to block or alert you about these cookies, but some parts of the site will not then work. These cookies do not store any personally identifiable information. These cookies allow us to count visits and traffic sources so we can measure and improve the performance of our site. They help us to know which pages are the most and least popular and see how visitors move around the site. We use both third party and first party cookies for this purpose. All information these cookies collect is aggregated and therefore anonymous. If you do not allow these cookies we will not know when you have visited our site, and will not be able to monitor its performance. These cookies enable the website to provide enhanced functionality and personalisation. They may be set by us or by third party providers whose services we have added to our pages. If you do not allow these cookies then some or all of these services may not function properly. These cookies may be set through our site by Verizon and third parties. They are used to present Verizon advertising on third party sites that you may visit. They do not store directly personal information, but are based on uniquely identifying your browser and internet device. If you do not allow these cookies, you will experience less targeted advertising from Verizon. BackClear Filters,All Consent Allowed
Learn moreCustomer Engagement & Experience Services
Engage customers with personalized and seamless experiences by blending human and artificial intelligence. Customer engagement technologies play a key role in improving experiences. Whether it's customers needing information or support, or constituents engaging with government agencies, artificial intelligence (AI) and next-gen technologies can elevate personalized experiences with seamless, instant and consistent interactions that people crave. Plus, they can help save you time and money. Verizon CIVR uses speech technology powered by AI to deliver an intuitive customer service experience that can help callers resolve issues on their own. Our cutting-edge features can help you deliver a better customer experience. Match phone numbers with customer data to identify callers and create more personalized experiences that can anticipate customer needs. As an AI-powered digital self-assistant, Virtual Agent helps you deliver automated and personalized self-serve experiences that are consistent across your digital channels. Deliver relevant responses and take advantage of AI to continually learn how to improve interactions. Offload basic, high-volume tasks while routing sensitive and more complex issues to live agents. Use AI and machine learning to help agents in your contact center quickly find answers to customer or constituent issues in an accurate and consistent manner. Get accurate answers to questions and guidance from sources that might include images, video and web pages. Use workflow automation to collaboratively build content that all agents in your organization can use. Give customers on your website, mobile app or messaging platform instant access to agents via chat, voice or video. Allow your agents to easily manage multiple chat interactions at once. Pass along conversations and data from virtual agent to human agent so customers don't need to retell their story. Enable your marketing and digital teams to listen to, chime in on and analyze social conversations about your brand. Identify high-priority posts and create meaningful one-on-one engagements with consumers and influencers. Discover your share of voice and get actionable insights on language, emotion and tone of voice. Already know what you're looking for? This Frost & Sullivan report helps demonstrate how to bring a competitive edge to your contact center with the advanced data, tools and systems that your employees need to best perform their roles–regardless of location. When you learn about AI from a customer experience (CX) perspective, you discover that it can have a broad impact on organizations and the benefits it can provide to contact centers. When interacting with a federal agency, citizens and staff members expect digital experiences that rival those provided by businesses. There are specific steps agencies can take to facilitate their ability to deliver those types of experiences. AI can have dramatic positive impacts on the experiences you provide customers, but doing it right requires thoughtful, strategic steps. Tracking certain key performance indicators (KPIs) not only can help you determine if your AI-powered customer experience technologies are paying off, but they can also help you spot trends in areas where your agent performance could improve. Social media can elevate your brand, but use it strategically to reach customers. Build trust and learn loyalty by providing customers with intelligent self-service tools. Empower your agents with relevant and accurate responses to customer questions. Discover new ideas, resources and trends from the comfort of your inbox. If you are already a Verizon customer, we have several options to help you get the support you need. Choose your country to view contact details. Existing customers, to your business account or .
Learn moreSupercharging Digital Collaboration for the Mobile Workforce
We've got some great deals going on right now exclusively for our online customers... chat now to hear more! Adam Holtby | Principal Analyst,The world of work has experienced many social and economic disruptions over the past few years. These disruptions have been further compounded by numerous business technology changes including the rise of artificial intelligence (AI), the transition to digital-first communication and collaboration, and the enabling of hybrid working at great speed and scale. Mobile is at the core of these changes, and the need to enable more mobile-centric work has become an important mandate for businesses across all industries. Embracing a mobile-centric approach to work requires businesses to address not just technological aspects and practices that guide how work gets done. Business leaders must remember that it is not just the locations people work from that have changed; the fundamental nature of work has also been subject to disruption. As more employees engage in work away from the traditional office, businesses must establish a technology and support infrastructure that enables, secures, and empowers every worker, regardless of their location. With the growing importance of digital and mobile-first channels for collaboration and engagement, businesses must swiftly adapt to meet evolving employee expectations. Failure to do so can result in tangible operational, regulatory, and financial ramifications. This mobile transformation journey is not one that businesses should walk alone. Recruiting the support of experienced digital partners will be instrumental to success. These partners must deliver the technical capabilities and expertise that businesses need to be successful. Solutions spanning mobile connectivity, mobility management, security, productivity, and collaboration will all be important instruments of success. Given the complexity of business mobile-centric initiatives, organizations should also look for partners that can help them navigate the tactical challenges they may face. Technical support programs, consistent engagement, and professional services will be pivotal elements of these partnerships. The data and insights discussed in this report are derived from the 2023 Business Mobile Collaboration survey, a collaborative study between Omdia and Verizon. In addition to being a fundamental element of modern work, mobility has evolved to become a vital enabler of business communication and collaboration. With its growing significance in modern business and digital experiences, there is a heightened demand to empower and enable a more mobile workforce. The 2023 Business Mobile Collaboration survey explored the role of mobility in modern organizations. The survey was structured to unearth the important communication, collaboration, and productivity trends driving business mobile initiatives in organizations of various sizes and across numerous industries. Digital capabilities are becoming increasingly important in empowering employees across the entire business, from back-office knowledge workers through frontline workers who are often closest to those consuming the products or services delivered by the business. Though information workers are often those most strongly associated with conversations around digital transformation, the reality is that true success comes from enabling as many workers as possible with transformative digital technologies, including mobile capabilities. Mobile devices and apps have the potential to transform work for every employee, so a focus on the entire workforce is vital when a business embarks on a mobile initiative. This is especially important when we consider the significant number of employees that occupy frontline worker roles. As Figure 1 shows, more than half the population of the total workforce are frontline workers. The proportion of frontline workers relative to information workers is even more pronounced in industries such as healthcare (63%), manufacturing (60%), and retail (63%). Because frontline workers make up such a large segment of the overall workforce, businesses have an opportunity to enhance operational efficiencies and transform frontline work by providing these workers with new digital capabilities. Mobile devices and apps are of particular importance to frontline workers because many of these employees operate away from a traditional desk and perform their duties across diverse locations. Ensuring that frontline workers have access to mobile capabilities that foster collaboration and enhance productivity becomes paramount. Mobile should not be a digital business capability limited to a select few or corporate VIPs; rather it should be democratized and made accessible to all employees, enabling widespread benefits across the organization. Source: 2023 Business Mobile Collaboration survey,Employees who are often the closest link between a business and those consuming its products and services. Includes retail, construction, healthcare sales representatives, manufacturing operators, etc. Employees who often work in centralized back-office roles and do not have direct engagement with customers or those consuming services the business produces (IT, marketing, HR, finance/accounting, etc)Source: 2023 Business Mobile Collaboration surveyAccording to the survey, 60% of the workforce currently use a mobile device for work purposes. This number is consistent across businesses in different industries and of all sizes. With such a substantial number of employees reliant on mobile devices, it is imperative for businesses to ensure that connectivity is seamless and that collaboration and productivity across these devices is optimal. A critical factor in achieving this goal is ensuring mobility is not an afterthought when it comes to businesses' application and workflow design. Mobile use cases must be at the core of the collaboration and productivity experiences that businesses are delivering to employees. Improving system access and usability across mobile is a crucial step in providing the best possible employee experiences. Our research also shows that employees across frontline and back-office operations are reliant on a diverse set of mobile devices and capabilities to get work done. This data shows that frontline and information workers have different preferences relating to the primary devices they would like to use for work purposes. 60% of the workforce currently use a mobile device for work purposes,The change in work styles and locations embraced by many employees over recent years has also brought about a more mobile and digital-first nature to the way people communicate and collaborate at work. As the data in Figure 3 shows, business leaders feel that making collaboration more seamless and compatible with hybrid work styles will deliver important benefits. It is evident that business and IT leaders see frontline and information workers benefiting differently from mobile collaboration capabilities. For frontline workers, improving task efficiency—which drives increased productivity—and customer service are the most important benefits identified. These benefits are aligned closely to the profile of frontline workers, specifically how these employees often work closely with customers in roles that often have clearly defined and often repeatable tasks. For information workers, the mobile collaboration benefits that leaders are looking to realize include improving access to business information and resources and advancing communication between internal employees. Again, these aspirations are closely aligned to the characteristics of information workers, who rely heavily on business information and resources and often work in centralized and sometimes siloed business functionssuch as IT, HR, finance, and marketing. It is important that businesses acknowledge there is no dominant universal benefit of improving collaboration; different employees will benefit in different ways. Communicating, and improving business understanding of, the diverse set of benefits associated with a mobile collaboration initiative is important to gain corporate buy-in and support but also to enhance adoption and utilization of the technologies that will ultimately support any initiative. What do you feel will be the most important benefit of improving mobile collaboration within your organization?,Note: n=300,Strategically, business leaders are looking for investment in collaboration tools to help improve operational efficiencies and employee productivity and to strengthen the relationships they have with customers (See Figure 4). Reducing costs was another important identified priority. Businesses often have investments in a diverse estate of different communication and collaboration capabilities that extend across fixed, mobile, and digital apps. Consolidation and rationalization here can help organizations reduce costs associated with communication and collaboration capabilities. What are the top strategic outcomes your organization is trying to accomplish through its communication and collaboration tools and services?,Improve operational efficiency,Improve customer interactions and relationships,Improve employee productivity,Omdia advises businesses to place mobile at the core of a communication and collaboration strategy going forward. Business use of mobile devices and collaboration capabilities via these devices is more secure than ever, and these technologies are also more readily accessible to different types of workers. This sentiment is shared by businesses, with the majority identifying that improving access to digital collaboration capabilities via mobile devices will be a priority over the next 18 months. In addition to improving collaboration, businesses are also prioritizing improvement of employee productivity across mobile. This underscores businesses' belief in the way mobile devices and apps are becoming key enablers of positive digital experiences. Generative AI is also poised to play an important role in this context, specifically in the way the technology will help improve how employees interact with productivity applications, including word processors and spreadsheet tools, many of which were not natively designed with mobile in mind (See Figure 5). Note: n=300,Advancing workplace mobility delivers productivity and employee experience benefits, but it also presents businesses with new challenges, notably around security. Our survey shows that, in addition to BYOD security, businesses also see connectivity as a significant challenge that will be important to overcome over the next 18 months.Improving understanding of employee productivity and ensuring effective communications across mobile are other notable challenges (See Figure 6). The focus on securing BYOD activity highlights the importance of businesses having a bimodal approach where both corporate and personally owned mobile devices can be effectively managed and secured. There is certainly a resurgence happening around BYOD. According to business leaders, BYOD is now the most popular provisioning and management model for smartphones, with just under half of organizations (44%) saying it will be the preferred approach going forward. This surpasses the 32% of businesses that would prefer a corporate-liable approach to smartphone provisioning and security. Despite the resurgence of BYOD activity, it is evident that organizations still have concerns over how to secure it. Help here, in the form of both new technologies and security expertise, will be important. What will be the most challenging aspect of mobile working for your organization over the next 18 months? (top four responses only),Securing an employee BYOD program,Ensuring employees have the mobile connectivity they need to work effectively,Ensuring employees can effectively communicate and collaborate across mobile,Understanding how productive employees are,Workstyle adaptations and a change in employee preferences to work in a more mobile fashion are also set to increase demand for mobile collaboration services. Just under half (43%) of business and IT leaders said they expect demand to increase over the next 18 months, and just 7% believe demand will decrease (See Figure 7). The increased investment many businesses have planned is indicative of the importance leaders are attaching to mobile capabilities and services in enhancing overall employee collaboration. Optimizing experiences across mobile has become of paramount concern for organizations. In addition to making collaboration more seamless and intuitive across mobile, businesses must also focus on optimizing processes and applications to align with mobile use cases. This is especially important for employee support processes, because being able to access and engage with technical and other support workflows is crucial. Additionally, and as more work takes place across mobile, it is important that mobility management and security tools become an important part of the new digital infrastructure being created by businesses. Having a unified way to manage and secure mobile devices and apps alongside a more traditional PC estate is one way in which infrastructures are evolving to become more mobile centric. Ensuring employees have seamless connectivity across different locations and devices is another important consideration. Businesses are recognizing the significance of establishing a cohesive mobile strategy that not only enhances collaboration but also optimizes processes, fosters security, and promotes seamless connectivity across the entire organization. How do you feel demand for mobile collaboration services will change in your business over the next 18 months?,Note: n=300,We also asked business and IT leaders what they felt the two top areas of impact would be should their organization decide not to invest in mobile collaboration capabilities. Respondents said that business operations and employee collaboration would suffer the most negative consequences. Just over half (51%) of respondents felt that business processes and working practices would be damaged, with 45% of respondents highlighting employee collaboration as an area of potential concern. The implications of overlooking and failing to act on the mobile collaboration opportunity extend beyond just strategic considerations; there are also financial and regulatory repercussions should businesses get things wrong. Almost two-thirds (63%) of respondents cautioned that their business would face financial or regulatory penalties if sensitive business information and communications were unsecured, via personal messaging applications, for example. In an era when employees can communicate via a diverse range of devices and apps, it is important thatbusinesses cater to employee collaboration preferences. Striking a balance between having robust security measures and delivering great employee experiences can be challenging, but it is crucial. If employees feel the collaboration experience delivered by their employer is suboptimal, they may resort to personal options that lack appropriate business governance and security. This poses a considerable challenge for organizations that need stringent oversight and governance controls over business communications for auditing purposes. This issue is particularly critical for businesses in heavily regulated industries, where failure to adequately govern employee communications has resulted in significant financial penalties being imposed. Which of the following would be most affected if your organization chose not to invest in mobile collaboration capabilities?,Note: n=300,Business processes & working practices,Employee collaboration,Customer interactions,Would your company face financial and/or regulatory penalties if sensitive business information and communications were shared on a mobile device in an unsecured way?,Note: n=300,The increased demand expected by businesses for mobile collaboration services over the next 18 months is also affecting strategic mobility investment plans. Our research shows that just 9% of businesses will look to decrease overall investment in workplace mobility, and 50% are looking to invest in new mobile collaboration capabilities. This is an encouraging finding, especially given the challenging global economic climate. Business mobile ecosystems comprise myriad technologies that collectively empower organizations to effectively manage, secure, and facilitate mobile work. As a more mobilecentric approach to work becomes more prevalent, businesses are focusing on investing in mobile capabilities that strengthen the overall digital infrastructure. Our research indicates that businesses are planning to invest in a combination of different mobile collaboration capabilities over the next two years. Capabilities including AI-based support agents on mobile, native mobile dialer and collaboration app integration, rich text communication services, and secure communications on BYOD are all investment priorities for businesses. Will external economic factors and/or internal financial factors influence your investments in workplace mobility?,Note: n=300,Plan new investment,Investment will stay the same,Decrease,The growing business interest in enhancing how mobile calling and messaging are more richly converged into collaboration apps is representative of a broader trend that is gathering momentum. Use of collaboration apps across PCs has accelerated at great speed and scale over recent years. Platforms such as Microsoft Teams, RingCentral, Zoom, and Webex have become important tools for employees that not only help them communicate better but also enhance how they interact with important work resources. However, integration between these in-app collaboration capabilities and native mobile features could be improved, specifically around calling and messaging. A lack of convergence here can damage employee experiences and expose businesses to security risks. Improving integration between these over the-top collaboration apps and native mobile calling and messaging capabilities will help make communication more seamless and accessible. Key benefits of this more converged communication and collaboration approach include:,Enable mobile AI-based customer/employee support agents,Seamless call transfer between native mobile dialer and collaboration apps,Rich text communication services (RCS, iMessage),Enable corporate communications on personal employee devices (BYOD),What is the primary metric/indicator you will use to track how mobile is affecting overall business collaboration? Showing top four of eight total response options,Note: n=300,Though it is crucial to have strategic aspirations and the necessary technology in place, it is equally important for businesses to establish appropriate measures of success to assess the effectiveness of their mobile collaboration initiatives. Surprisingly, 17% of businesses are not currently tracking the impact of mobile on overall business collaboration. Across the manufacturing and retail industries, the proportion failing to track progress is even greater: around a quarter of businesses currently have no measures in place. Among those organizations that do have some form of measure or indicator in place, employee productivity improvements and better communication between employees, customers, and partners are the most common indicators relied on. In order to comprehensively assess the progress of any mobile collaboration initiative, businesses will need to rely on a combination of quantitative and sentimentbased indicators. Employee experience and satisfaction, collaboration solution adoption and utilization, and collaboration across mobile are examples of indicators businesses are using to gauge success and potential improvement opportunities. Which type of partner/supplier do you feel is best suited to support your workplace mobility goals?,Note: n=300,(e.g. AT&T, T-Mobile, Verizon),(e.g. Microsoft, Google, VMware),(e.g. Presidio, Avanade),(e.g. CDW, TD Synnex, etc.),In addition to the opportunities, business mobile initiatives also present many new challenges. Adopting the support and expertise of experienced digital partners will be important to success. It is mobile operators that most businesses feel are best suited to supporting their workplace mobility goals. Mobile operators occupy a unique position in delivering the diverse range of mobile capabilities businesses need to become truly mobile centric. These capabilities span cellular connectivity options, mobility management, and security solutions; mobile productivity; and collaboration. The strong pull businesses have to mobile operators is also largely in part attributable to the priority attached to mobile network coverage. This is evidenced when we analyze the capabilities and criteria organizations prioritize when selecting a business mobility partner. Here, it is pricing, network coverage and quality that businesses view as the most important mobile partner capabilities. A partner's security and privacy competencies and capabilities, in addition to the strength of features and functionality of any solution, are other important criteria. It will be important for mobile operators to further strengthen business awareness around the mobile capabilities they deliver beyond just connectivity. In addition to mobile and security solutions, supporting businesses in converging collaboration capabilities around mobile will be important for mobile operators. What are your top two criteria for selecting a business mobility partner/provider?,Note: n=300,Work-style evolutions and changing employee demands have put mobile at the top of the digital agenda. Many employees now rely on mobile technologies, but business workflows and processes must evolve around mobile use cases. Businesses must become more mobile centric in delivering better employee experiences and improving operations. A cohesive strategy and putting mobile at the core of the new digital-first infrastructures businesses are building are vital. If the mobile solutions and programs offered by a business are suboptimal, employees will gravitate to personal and less secure options. The implications for organizations can be costly, especially when sensitive business communications are shared via unsanctioned communication channels. Businesses need to work with the appropriate solutions and leverage the expertise of partners that can help them navigate these risks. Employees are increasingly collaborating across a range of different communication options, including mobile devices, collaboration apps, and tethered phones. Improving integration across these different channels, especially native mobile and in-app capabilities, is important in improving employee experiences and strengthening a security posture. Omdia, on behalf of Verizon, developed, programmed, and fielded a custom online survey to explore the role of mobility in modern businesses, highlighting the important communication, collaboration, and productivity trends that are driving workplace mobility. If you are already a Verizon customer, we have several options to help you get the support you need. Choose your country to view contact details. Existing customers, to your business account or . These cookies are necessary for the website to function and cannot be switched off in our systems. They are usually only set in response to actions made by you which amount to a request for services, such as setting your privacy preferences, logging in or filling in forms. 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