Customer engagement is in the midst of significant transformation. Faced with increasing customer demands and rising costs, businesses are turning to digital customer experiences in messaging channels, and specifically artificial intelligence (AI) to meet their needs. As we navigate this landscape, a new role is emerging – that of the Chat Commerce Officer. This role will be pivotal in guiding businesses through this transition and ensuring they harness the full potential of new digital commerce experiences.
The Changing Landscape of Customer Engagement
The global pandemic escalated a trend that was already gaining momentum - the shift towards digital customer engagement. Businesses are now faced with the challenge of providing superior customer service amidst rising labor costs and an acute shortage of customer service employees. CallMiner estimates that customer wait times have tripled and that customer service employee turnover has soared from around 50% to as much as 300% in some businesses. Conversational AI and customer service automation have emerged as the solution to these challenges.
According to research by Gartner, only 1.6% of call center interactions are currently automated. However, this number is expected to rise to 10% by 2026, which could result in savings of approximately $80 billion a year in labor costs. Furthermore, surveys indicate that 95% of enterprises plan to implement AI in their contact centers within the next year.
Artificial Intelligence and Intelligent Automation
The benefits of automation technologies and AI in customer engagement are clear. An AI chatbot can handle simple tasks efficiently, freeing up human agents for more complex issues. Not only does this lead to cost savings, but it can also improve customer experience. Customers can interact with bots 24/7, bypassing long wait times for agents, and get accurate answers to questions, quickly.
Moreover, consumers increasingly prefer to communicate with brands via messaging platforms. With the average U.S. mobile consumer spending nearly four and a half hours per day on their phones, it's no surprise that brands are leveraging these platforms for communication and now, commerce.
The Role of the Chat Commerce Officer
As businesses navigate this shift towards chat commerce, there's a need for a dedicated role to oversee this transformation. Enter the Chat Commerce Officer. This role will bring together the disparate elements of marketing, digital customer experience, and payments, providing a cohesive strategy for chat commerce.
The Chat Commerce Officer will be responsible for overseeing the implementation of AI and intelligent automation in their digital customer experience strategy. They'll ensure that the transition is seamless, ensuring minimal disruption to business operations and customer service. They'll also liaise with different departments, breaking down silos and promoting a unified approach to chat commerce.
In addition, the Chat Commerce Officer will monitor the effectiveness of chat commerce strategies, making adjustments as necessary to optimize results. They'll need to stay abreast of emerging trends and automation technologies in chat commerce, ensuring that the business stays ahead of the curve.
The Future of Customer Engagement
As we move into 2024 and beyond, it's clear that the transformation to AI-powered customer engagements is well underway. Businesses that successfully navigate this transition stand to reap significant benefits.
However, this transformation won't happen overnight. It requires careful planning and execution, which is where the Chat Commerce Officer comes in. By providing dedicated leadership and strategic oversight, they can ensure that businesses harness the full potential of chat commerce.
The shift towards digital customer engagement presents both challenges and opportunities for businesses. The emergence of the Chat Commerce Officer role reflects the need for dedicated leadership in this area. As businesses continue to embrace AI and intelligent automation in their customer engagement strategies, the Chat Commerce Officer will play an increasingly important role in shaping the future of customer engagement.
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