The role of AI Agent Assist in driving business growth

An overworked team is probably worse than dissatisfied customers because a problem can only be solved if you treat the root of it.
Author:
Priyanshu Anand
Last edited:
September 2, 2024

According to a report, 57% of the companies plan to scale up their AI investments by 25% over the next year. Generative AI and Conversational AI are the next big thing and enterprises with larger market shares are investing heavily in these technologies which becomes an even bigger factor for companies to go this route. A lot of these investments will also focus on scaling support teams not from a resource perspective but from a progressive point of view where AI Agent Assist will become the foundation for better customer support.

When we talk about AI in customer support, it’s not just about how companies should look at integrating it to improve customer self-support but about how can it be leveraged to assist agents to become better at what they do. Because the future isn’t just “AI” but regulated, augmented, and personalized AI that bends and customizes itself to serve customers how the company wants it to. This isn’t possible without agents and, unequivocally, the importance of AI tools is as robust for agent assistance as it is for customer support.

Now, when we about AI Agent Assist, there has to be an ulterior motive - why would you invest in technologies if they didn’t show promise of growth and engagement? Stronger agent assistance empowers them to serve customers better leading to better customer-facing metrics like faster resolutions, less back-and-forth, quicker response times, and most important of all, customer satisfaction. Happier customers mean better retention, and lower churn, which as we all know, is a lot more profitable for businesses than acquisitions. Better profitability from long-term customers means scalable business growth over time.

How AI Agent Assist impacts how customers view your brand

Instant support, lasting impressions

First impressions matter, and in the digital world, speed is of the essence. With AI Agent Assist tools, your agents can get context to customer concerns faster through features like ticket summarization that distills a ticket key pointers so agents don’t have to spend valuable time going through past customer conversations. Furthermore, with features like response suggestions, the AI Agent Assist tool also recommends what the agent should respond with that can edited and paraphrased easily, saving a lot of time spent on formulating answers.

This immediate responsiveness sets a positive tone, signaling that your brand values their time and satisfaction. It's not just about solving problems quickly; it's about showing customers they matter.

Personalized interactions

Customers today crave personalization. They want to feel understood and valued, not just another number in the system. AI Agent Assist excels in delivering personalized support by leveraging how customers talk to formulate answers based on tone, voice, and sentiment. AI response suggestions ensure that the answers are not just logical but also have a touch of empathy so customers feel a deeper connection. What’s more, agents can further edit these responses to make them more personalized to their voice so that customers don’t feel like they’re talking to a bot.

Reliable across channels

With AI Agent Assist tools like Threado AI, you can get support across multiple channels like in-product chatbot, Slack, and as a Chrome extension that sits on top of any ticketing or helpdesk software like Zendesk, Freshdesk, Intercom, etc. This helps agents access the tool on whichever platform they are which isn’t just convenient but also faster. These factors contribute towards providing your customers with better support and in turn, improving how they view your brand.

Consistency is key

Consistency builds trust, and with AI Agent Assist, companies can ensure every customer interaction is consistently high quality. Whether it's midnight or midday, customers receive the same level of efficient, accurate support. This consistency reinforces a brand image of reliability, making customers more likely to return and recommend your brand to others.

Better customer satisfaction equates to business growth

The loyalty loop

Satisfied customers are more than just happy; they're loyal. This loyalty isn't just about repeat purchases; it's about forming a bond with your brand. Loyal customers are more likely to choose your products or services over competitors, providing a steady stream of revenue. But it doesn't stop there. They're also more forgiving of minor mistakes, giving you room to innovate and improve without fear of immediate backlash. When you don’t have dissatisfied customers to worry about, you can focus on revamping your strategies and furthering your brand to increase market share and customer base.

Word-of-mouth wonders

In the digital age, a customer's voice is more powerful than ever. Satisfied customers become brand advocates, enthusiastically sharing their positive experiences with friends, family, and their social networks. This organic word-of-mouth marketing is incredibly effective and cost-efficient, expanding your reach and attracting new customers who trust the recommendations of their peers.

Lowering the cost of acquisition

Acquiring new customers is essential, but it's also expensive. When customer satisfaction is high, the need for aggressive acquisition strategies diminishes. Instead, you can focus on nurturing existing relationships, which is more cost-effective and sustainable. The savings can then be reinvested into other areas of your business, fueling growth without increasing costs. This is one of the most efficient ways of running a business and even more so for startups who bootstrap their earlier years. Cutting costs and scaling your business at the same time is the best-case scenario.

Reducing churn, boosting profits

Customer churn is a growth killer. When customers leave, they take their lifetime value with them, along with the potential revenue they could have generated. By prioritizing customer satisfaction, you reduce churn rates, retaining more customers and their associated revenue. Even small improvements in retention can lead to significant increases in profitability. Most SaaS companies have an annual churn rate of 10-14% but a good margin to aim for is about 5-7% churn. And it’s no secret that reducing churn alone can account for up to 95% higher profits without the pressure of more conversions.

The competitive edge

In a crowded market, customer satisfaction can be your differentiator. When customers are faced with a multitude of choices, they'll remember the brand that made them feel valued and understood. This can be the deciding factor in their purchase decisions, giving you a competitive edge that's hard to replicate. With the amount of tools available in the market, customers won’t think twice before shifting to another brand for even small inconveniences. In some cases, support can even be a bigger differentiator than the product itself. No matter how progressive or cutting-edge your product might be, if your customers are not able to make the most of it, there’s no practical value to sticking with your brand.

AI Agent Assist is the key to satisfied customers

At Threado AI we realize that it’s not just about how AI benefits customers but also how it pushes your agents to do better. An overworked team is probably worse than dissatisfied customers because a problem can only be solved if you treat the root of it. Simply trying to cater to your customers with AI won’t improve your support functionality. Give your agents ways to become more efficient, productive, and proficient in their work. Make AI your teams’ ally and they’ll be more open to working with it and an augmented that runs on AI and human agents will prosper above anyone else.

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