Unlocking Subcription Growth with AI - September Edition
In this latest edition, we are back with expert insights from all over the web to help customer-focused businesses refine their strategies for 2025 and secure a competitive edge in an ever-evolving business landscape.
From strategically allocating your budgets to leveraging advanced technologies like AI and successfully implementing them in your business, this content piece delves into critical advancements designed to help you better serve your customers and maximize business value.
This recent report from Gartner highlights that customer service and support organizations must become value creators rather than just demand managers to stay upfront in this competitive economic landscape.
For this, the report stresses that these organizations must adopt a broader set of capabilities across their organization's strategy, people, process, and technology to reimagine their future and deliver more customer value.
With this shift towards technology, specifically AI and analytics, customer service and support leaders can drive service excellence in terms of managing more complex customer interactions and enhance customer retention, leading to improved customer lifetime value and business growth.
In the latest podcast from Forrester, VPs and Group Research Directors Stephanie Balaouras , Keith Johnston, and Srividya Sridharan discuss the evolving landscape of budgeting for the coming years. The episode highlights that 91% of businesses are anticipating budget increases and examines where business and technology leaders should focus their investments to maximize returns.
The discussion emphasizes that while budget increases are expected across various functions, there are key investment priorities to consider. Business leaders are advised to focus on data governance, security, privacy, and infrastructure.
For customer experience (CX) leaders, they emphasize that their spending should be into enhancing data quality and improving digital touchpoints. Investing in these areas can not only boost profitability but also address historically low CX scores.
The Forbes article by Vasudeva Akula, Ph.D. , CEO at VOZIQ AI , explores why AI projects often take twice as long to move from planning to full-scale launch, and result in reduced ROI.
Drawing from his experience working with subscription business leaders, he highlights a few common challenges that businesses face while implementing AI – from lack of skilled expertise, difficulties in data integration to deciding whether to build, buy or outsource and so on.
To mitigate these challenges, he offers three actionable solutions:
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The Gartner report offers a comprehensive roadmap highlighting the growing role of AI and automation in enhancing customer experience.
It starts by emphasizing the need to identify critical customer experience moments that significantly impact overall value, ensuring that service capabilities are aligned with diverse customer needs.
Building on this, the report stresses the importance of focusing on value-driven interactions, such as facilitating transactions, helping customers learn to use products, and optimizing product performance.
It then advocates for shifting from a narrow focus on problem resolution to a broader emphasis on effective customer engagement by leveraging data-driven approaches that could drive meaningful interactions and maximize business value.
Stay tuned for more curated content in our next edition, and feel free to share any suggestions for topics you’d like us to cover.
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2 个月Very helpful!