It's all around us: shifting demographics, social patterns, and technological evolution is changing the way people wish to engage, interact, and structure relationships with organisations. Fully engaged customers deliver a 23% premium in share of wallet, profitability, revenue, and relationship growth. But despite these many opportunities, most organisations aren't taking advantage of unprecedented customer access and availability of data to meet their customers' changing needs for engagement.
Although the customer experience today lacks personalisation, timeliness, trust and accuracy, there is good reason for optimism. IBM Watson has the potential to redefine what it will take to step forward in bridging the gap between expectations and service. It could help companies and their customers build stronger relationships in a way that scales with the needs of the business.
How can Watson help?
IBM Watson represents a bold new step into a new era of computing and has the potential to transform the way people and companies interact over the lifetime of their relationships. Individual consumers can interact with Watson in plain English, directly or through an agent, to get personalised responses to questions and receive actionable insight with supporting evidence and confidence to help create the experiences customers expect. As just one of many examples, a bank might offer Watson directly to customers to help understand the types of savings accounts and facilitate the opening of the account that meets their requirements.
People expect companies to know them based on who they are and their past history, to engage them wherever, whenever, and however they choose to do business, and empower them at the point of action in a way that exceeds their expectations. This can help lower barriers of outreach to un-served and under-engaged customers which, in turn, can help reduce customer turnover, create opportunities for the individual and organisation to engage in a meaningful way, and drive advocacy and endorsement for the organisation.
Contact your IBM representative to learn more about the Watson Engagement Advisor Early Customer Programme.