Many businesses also leverage text-based virtual agents to improve customer service.
IVAs analyze various factors during customer interactions. That includes conversational context and conversation history on multiple platforms. It also analyzes demographic details and historical analytics. They generally employ predictive analytics and machine learning. This further allows the support they offer to become increasingly accurate and beneficial over time.
How It Can Help Businesses
The intelligent virtual assistant market size is increasingly expanding around the world as more businesses recognize its importance for their growth.
1. Personalized experience for customers
While customizing customer service enhances sales revenue and satisfaction, the process of personalizing every interaction may require significant time from live agents. The virtual agents leverage context along with customer information to deliver significantly personalized service right from the initial interaction. Natural language technology further allows these virtual assistants to comprehend customers in various channels and languages.
When the IVA recognizes what the customer wants, it can access CRM information. That includes location and purchase history. It can subsequently present personalized solutions. This software’s ability to translate languages and quickly scan extensive data points further allows it to provide more tailored feedback in comparison to chatbots or even live representatives.
2. Minimize wait times
IVA can manage hundreds of customer interactions at once. It can also handle tickets without needing human intervention. As a result, customers can quickly address simple inquiries without waiting for live support. This eventually leads to faster service and minimizes average handling time. IVAs quickly handle tasks that generally consume a lot of time. That includes translating languages and searching for data. They can also enter requests or information along with updating customer information on multiple platforms.
3. Always available
Even though self-service is advantageous, customers often become exasperated when they are unable to access a live representative for help. Many customer support centers staff agents only in local business hours. This can therefore alienate customers in various time zones and those needing assistance outside of those hours. An IVA is available at all hours to handle customer inquiries. This significantly enhances user satisfaction and alleviates the pressure on agents as they start their shifts.
4. Enhance effectiveness
Companies have consistently looked for call centers that lighten the load on live agent staff while also maintaining excellent customer service. Virtual agents assist these businesses by steering customers away from live chat and phone channels in favor of automated assistants. They manage customer requests and only escalate to live agents when absolutely necessary.
5. Cut operational expenses
Another way that the intelligent virtual assistant market can help businesses is by cutting operational expenses. While there is an initial cost associated with IVA software, it can eventually help businesses save money by lowering staffing needs and boosting customer satisfaction. These virtual assistants offer continuous support and address various issues. That includes IT support and inquiries. This therefore diminishes the reliance on live agents.