You can be on Entrepreneur’s cover!

How Businesses Can Use Technology to Enhance Customer Experience? Now that technology has literally become the way of the world, it is not surprising that all enterprises, from start-ups to tech giants, are leveraging technology to enhance customer experience

By Bhavya Kaushal

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

shutterstock

In today's time, companies are highly concerned about providing their customers with a wholesome experience that can attract goodwill towards their brand, create a base of loyal customers and also have an edge over their other competitors.

Ritika Amit Kumar, CEO and Co-founder of The Young Chronicle, says that technology is an enabler. She says, "AI, ML, robotics and automation can help disseminate customized solutions and cut down a number of processes, thus reducing response time, cost, and scope of error."

Now that technology has literally become the way of the world, it is not surprising that all enterprises, from start-ups to tech giants, are leveraging technology to enhance the customer experience.

Customer Intelligence

Technology continues to provide new possibilities for how businesses can communicate and engage with their customers. Varun Bhutani, Founder and CEO of Trihund Solutions, says that by leveraging digital technologies, businesses can make decisions based on a deeper understanding of their customers. He further adds, "They can use customer intelligence and insights to anticipate customer needs, build products that match customer preferences and deliver the right products and services to the customers at the right time, through the right channel at the right price."

Bhutani gives the example of banks that are effectively using technology to improve their customer's banking experience. "By analyzing transactions in real time, these tech-savvy banks are able to map customer spending behaviour against past trends so they can effectively coach customers on their investments, credit standing and relationship with the bank." He feels that the right blend of technology and human interaction can definitely result in improved customer satisfaction.

This is true not just for banks but also for healthcare. Jitin Vidya Ajith, Founder of Astrek Innovation, says that customer intelligence has enabled businesses to understand a customer better and provide precise responses, hitting all their pressure points which in turn helps in achieving better customer satisfaction and measurable outcomes. He says, "In healthcare, many companies are trying to build a solution to ease the relationship between a health care provider and patient, using technology as an interface for a better quality of treatment."

He further adds that measured outputs, customer responses and service provider's insights are the data points we need to focus on.

Analyzing Customer Behaviour through AI

Artificial Intelligence can particularly help companies trace consumer behaviour, an important feature that can help companies channelize marketing strategies and efforts into the correct avenues.

Nishith Rastogi, CEO and Co-founder of Locus.sh., says that just having satisfied customers is not enough anymore for businesses; if one wants to earn loyalty, one would be required to create an admiring fan base. He says, "Consumer needs have shifted from merely wanting efficiency to an overall pleasant experience when it comes to online shopping and last-mile deliveries. To meet the changing demands, organizations are continuously using new-age technologies like AI and Deep learning." He further adds, ". Slot-based deliveries, minimizing delivery costs, increased first attempt rates, priority orders and predictive alerts are just a few ways in which technology providers are helping enterprises."

According to Rastogi, consumer experience is the new USP for modern-day companies and those who champion this will win themselves a fan base for the future.

Ruchi Garg, CEO and Co-founder of Venuelook, says that businesses, nowadays, are tapping huge opportunities to disrupt and enhance the customer experience using technology. She says, "We believe that personalized, precise communication triggered at the right time via the right channel is key and this is definitely possible using technology. Business enterprises can use CRMs for fast and satisfactory customer service, communication tools for right measurements and governance." She further adds that predictive analysis of customer's next steps based on matching historical data, self-correcting algorithms and marketing automation are also ways to give consumers the experiences they are looking for.

In today's time, customers are more demanding than ever. Therefore, companies are under a lot of pressure to make the customer satisfaction aspect the nexus of all their business activities. Technology is a big relief if the cards are played right!

Bhavya Kaushal

Former Features Writer

I am a work-in-progress writer and human being. An English graduate from Delhi University, writing is my passion and currently, I was Entrepreneur India's start-up reporter. I love covering start-ups and weaving their stories into unforgettable tales with the power of ink! 
Business News

Side Hustles Are Soaring as Entrepreneurs Start Businesses Working Part- or Full-Time Elsewhere, According to a New Report

The younger the entrepreneur, the more likely they were to start a business as a side hustle.

Entrepreneurs

The Untold Story of the Visionary Behind CLAT's Rise in India

When deciding on a career path, the majority of us consider becoming an engineer, a doctor, or a chartered accountant. But there's another choice that's just as good: becoming a lawyer.

News and Trends

Landscaping Startup Garden of Joy Secures INR 84 Lakhs Led by Inflection Point Ventures

The Bengaluru-based platform intends to use the money raised to develop a design tool, grow its operations in Bengaluru and five other cities, and vertically integrate through owning workshops for fabrication and civil work.

Business Ideas

63 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.

News and Trends

NIIF Picks up a Majority Stake in Network Solutions Provider iBus for USD 200 Mn

The Bengaluru-based iBus intends to use the fresh funds to support both organic and inorganic growth initiatives, as well as to increase its footprint in recently developed markets like IoT solutions.

News and Trends

Mumbai Metro Launches TapTap Wristband for Effortless Travel

According to Mumbai Metro One (MMOPL) authorities, the TapTap band is made of an environmentally friendly silicone-based material, which makes it non-allergenic and kind to the skin.