Krish is looking forward to working in collaboration with Yellow.ai to employ a conversational platform along with impeccable digital commerce solutions, tailor-made to suit your business needs. The possibilities with conversational commerce are limitless. You can render top-notch personalized experiences, unlock new growth opportunities and boost your customer engagement with us.
Conversational AI – The future is here. Where are you?
The ultimate truth for every industry, including the eCommerce players, is to stay ahead of the latest trends to excel, survive and thrive in this fast-changing world. In this age of connected consumerism, the consumers are digitally engaged with brands and businesses more than ever, cardinally via smartphones. This makes chatbots, live chats, messenger apps, and voice assistants the primary ways for companies to entertain their consumers’ concerns. In fact, 83% of the consumers digitally contact brands to gather more information about their products and services.
The latest trend in the industry suggests that more than products or costs, conversions are most impacted by customer experiences. There is data to back this statement. Over 80% of the shoppers are willing to pay more for a better customer experience (CX).
Conversational AI is becoming increasingly popular for compensating for the lack of personalization while shopping digitally. And there it is, the reason behind an inevitable boom in conversational commerce. It brings the ‘personal’ into personalization without going to physical stores. Hence, enterprises now rely on AI-powered intelligent virtual assistants for brands across voice and text channels.
What is Conversational AI?
Conversational AI is the new age of digital engagement.
Superior customer experience is not the sole function of channels. It is about making it effortless for the shoppers to reach your business from anywhere at any time. Repetitive and redundant information, wrapping up the call before the day, are all things of the past.
The customer contact and support center is changing and morphing into an interface to allow AI-powered messaging to be the dominant communication method. Data is being leveraged to create and implement machine learning models to realize bot-based and algorithm-driven customer interactions that genuinely transform the CX.
This is where the eCommerce world is moving towards – experts call it the conversational customer experience, C-CX.
Conversation AI is there to help businesses and their computers to have a legit and effective conversation through voice and text mediums. It is used across various business departments to deliver smoother customer experiences with minimal human intervention.
Why do we Need Conversational AI?
eCommerce businesses can leverage conversational AI to automate customer-facing touchpoints across every platform, including social media platforms viz. WhatsApp, Facebook Messenger, Instagram, other apps, and virtual assistants like Google Home.
According to Gartner’s report, proactive customer engagement will definitely outnumber reactive customer engagement by 2025. Businesses need to have a proactive approach to reduce the number of calls and have a quicker response time. Here is where conversational AI comes into the picture, playing a massive role in customer engagement while helping the brands to cater to all their customers’ needs.
Some of the benefits of conversational AI other than increased lead generation, seamless customer service, omnichannel presence, and cost-effectiveness are as follows.
- Conversational chatbots can tirelessly handle conversations 24*7*365.
- Messaging is preferable by customers than calling for queries, also shared in Gartner’s report mentioned above.
- A single AI chatbot can handle thousands of conversations simultaneously with the same speed and accuracy.
- Being digital, conversational AI can leverage customer data and insights and be accurately analytical while providing a resolution.
- Last but not least, conversational AI can retain the customer’s journey and give personalized perspective to them as per their requirements during repeat visits.
The Krish and Yellow.ai Partnership
Krish has partnered with Yellow.ai – the world’s leading conversational CX platform, to leverage conversational AI, automate customer engagement, implement seamless conversational commerce, support eCommerce brands, and help enhance their CX.
Yellow.ai is the world’s first engagement cognitive cloud with 1000+ clients to serve across 70+ countries including Domino’s, Sephora, Hyundai, MG Motors, Bajaj Finserv, Food Panda, Bharat Petroleum, Waste Connections US, and Tata. Gartner, Frost & Sullivan, IDC, and G2 Crowd have recognized it as a leader in conversational commerce. Weaving in the best of AI and human intelligence to automate customer and employee experience, the company aims to democratize AI through its no-code/low-code bot builders, omnichannel virtual assistants, and ticketing automation suite. Yellow.ai has raised more than $102M from blue-chip investors and has offices across six countries. Its in-house NLP ‘brain’ engine compounds the self-learning of the voice and text chatbots through multi-factorial intent recognition, effective customer engagement, and on-point resolution – all of it in real-time and with a 98% accuracy rate.
The focal aim of this partnership is to automate customer engagement for Krish’s eCommerce clients and transform their digital experience. The conversational extensions will be a crucial part of the digital commerce solutions to help brands establish a long-term digital relationship with their customers. It will also enable the brands to manage operations across multiple channels with minimal human intervention and nil to negligible error.
Addressing this partnership, Jiten Padmashali, CEO and MD at Krish, said, “We are always committed towards innovative digital commerce solutions for retailers and eCommerce players. Our association with Yellow.ai will further solidify our efforts in this direction, with conversational commerce at its core. We aim to leverage this conversational CX platform to help brands render an enhanced online shopping experience. We are delighted to have partnered with the leaders to build conversational experiences and further augment our personalization and digital transformation solutions to help our clients unlock growth.”
While Raghu Ravinutala, CEO and Co-Founder of Yellow.ai added, “We have set in motion new frontiers of reimagining customer experiences with Conversational AI and our partnership with Krish will go a long way in delivering eCommerce and retail brands a competitive edge when it comes to delivering differentiated customer experiences. It will enable them to leverage the power of digital commerce across multiple channels, successfully tapping into more new business opportunities.”
The bottom line is that this technologically forged alliance between Krish and Yellow.ai will elevate the digital commerce solutions implemented worldwide by Krish to the next level and amplify seamless customer experience.
Wrapping Up
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Minal Joshi is a content marketer at Krish with a flair for eCommerce and Digital Commerce aspects. She is a MarTech fanatic with a knack of writing with which, she helps brands to curate, create, & commence digital brand positioning. Sharing insights via articles, case studies, eBooks, Infographics, and other forms of content creation is what she lives for. Being an ardent traveler, when not writing, you'll find her sipping coffee into the mountains or petting a stray.
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