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"Conversations are not what we think they are... a conversation goes deeper, and is more robust than simple information... and trust is the fuel of healthy conversations."– Judith Glaser, organizational anthropologist.
Researchers believe quality conversations are the 'golden threads' that bind people together, setting a great culture's foundation. In today's world, the rise of AI, IoT, and other advanced technologies has led to the emergence of numerous channels for conversations in both voice and text format. Following the coattails of modern communication shifting to messaging apps, businesses across industries strive to create personalized conversations to breed brand advocacy and improve the bottom line. Such a tectonic shift in customer engagement has paved the way for conversational commerce (c-commerce.)
But benefiting from c-commerce is easier said than done. The reason: c-commerce currently exists behind barbed wires. To elaborate, brands engage their prospective customers through one-way content publishing and leave them in the lurch without any room for dialog. The need of the hour is to allow back-and-forth conversations to happen on the customer’s preferred schedule. Close to 40 percent of customers abandon a call within the first minute of waiting, and this percentage grows exponentially as wait time increases. Contact centers have turned into a breeding ground of frustration as customers often find themselves mired in the endless loop of "Press 1, Press 2" messages. The situation is grimmer for contact center agents who often face angry customers day in and day out.
"LivePerson turns call center agents, most of whom come from a non-technical background, into the “engineers” behind sophisticated chatbots"
At this crucial juncture, LivePerson (NASDAQ: LPSN) is leading today's businesses into the world of c-commerce. Founded by Robert LoCascio, who invented web-based live chat for brands in 1995 to enable seamless communication between consumers and their favorite businesses, LivePerson knows what it takes to fill the communication gap. Today, the company helps businesses initiate and answer AI-powered conversations with customers asynchronously (meaning customers aren’t tied to the brand’s timeline) through various channels, including SMS, messaging apps, websites, and apps.
Customers can initiate a conversation with a brand and return to it on their own time frame from wherever they are, even if they drop the conversation for a bit they can pick it up later, just like people do with family and friends. The conversation history persists for both brands and customers, akin to a typical conversation between two people on any messaging app.
Humanizing Bots
In today's complex world of sales, marketing, and customer care, contact centers are constantly under pressure to meet KPIs such as call handling time, staffing needs, improved sales conversion rates, cost per call, cross-selling, revenue per call, after-call work time, and more. Each of these factors represents not just a mere number, but small hinges that can swing big doors.
LivePerson's intelligent Conversational AI allow brands to achieve all this at scale. The company's AI platform is built on over twenty years of conversation data and includes a diverse set of sophisticated tools, including Natural Language Understanding, advanced metrics/analysis, and bot-building features. Unlike traditional chatbots, LivePerson's Conversational AI solutions share a significant part of the cognitive load to design, manage, and optimize automated conversations, which were previously orchestrated almost entirely by humans. The platform consolidates all of a brand's communication channels and back-end operations onto one, easy-to-use cloud-based platform.
LivePerson has a world-class conversation data set and deep Conversational AI expertise, meaning our NLU is on par with Google, Amazon, and Microsoft when it comes to creating experiences for customers
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