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Mon. 11 Oct 2021, 8:43am ETBenzinga
In: Tech

Photo by Fabio on Unsplash

Today’s consumer companies and business-to-business (B2B) firms are finding themselves in a fast-paced, competitive race to attract and secure new clients.

One approach that’s increasingly gaining popularity is customer engagement. Customer engagement entails prioritizing long-term relationships with consumers and B2B clients. It’s about working to develop and maintain relationships throughout multiple interactions and across various channels. 

The research suggests profound benefits for companies that invest in customer engagement solutions. At a glance:

  • Engaged customers result in a 23% premium over the average customer in terms of profitability, revenue and relationship growth. 
  • Compared to non-engaged customers, engaged consumers buy 90% more frequently, spend 60% more per transaction and are 5 times more likely to stick to a brand in the future.
  • Companies that effectively engage customers are 2.2 times more likely to experience an increase in market share. 
  • 66% of consumers did more business with at least one company because of good customer service.

According to an executive team member from Infobird Co. (NASDAQ:IFBD), a software as a service (SaaS) company providing customer engagement solutions for B2B firms and consumer-centric companies, “The era for passively waiting for customers to reach out is long gone. We are living in a highly competitive and fast-changing market right now. With the development of the internet, mobile technology and social media, customers are exposed to more information than they can process on a daily basis.”

Infobird’s executive team continues, “This is why it is so important for companies to provide proactive and customer engagement solutions through top channels and personalized services. This helps create enhanced brand exposure and influence, resulting in higher customer satisfaction and improved retention rates. We firmly believe these are the driving forces for a company’s growth — both in the short and long run.”

“Another very important note we want to emphasize is that customer engagement is an ongoing process. There’s a clear goal to increase a customer’s lifelong value, and it doesn’t end with new customer acquisitions or passive after-sales customer services support.”

Breaking Down Customer Engagement and AI

Artificial intelligence (AI) is paramount to facilitating a seamless customer experience and customer engagement strategy. AI can be used to help companies understand their customers and target market better — equipping them with the knowledge to solve pain points and deliver above and beyond expectations.

AI facilitates an enhanced decision-making process, helping to improve the quality and effectiveness of new products and services.

AI can also improve personalization — a key aspect of customer engagement. Research by Salesforce Inc. (NYSE:CRM), has found that 66% of consumers feel that a company should understand their individual needs.

Plus, AI is critical to quality customer support. In 2019, Gartner predicted that 15% of global customer interactions would be handled by AI, with chatbots playing a key role. Indeed, chatbots can be used to improve the customer experience, while simultaneously cutting time and costs.

AI-driven chatbots are available 24/7, maintain fast response time and enhanced personalization. Consumers seem to like chatbots —  68% say they’re fans because chatbots provide quick answers and are available at all hours. 

AI-Driven Customer Engagement Solutions

When it comes to the top-tier, AI-driven customer engagement solutions, Infobird Co. is the front-runner. Hailed as the Chinese-based equivalent to Zendesk (NYSE:ZEN), Infobird offers tools and solutions to help companies manage every stage of the customer journey — from brand awareness to post-sales relationship management.

Infobird’s top features include AI-driven telemarketing, AI-driven customer service training, omnichannel support, intelligent chatbots and more. Infobird also incorporates AI-driven sales force management, intelligent training resources and quality inspection tools that optimize internal operations.

A member from Infobird’s executive team commented, “We’re seeing lots of potential in the AI-driven, customer engagement market. It is our mission to empower our clients to harness their growth potentials through our intelligent and automated customer engagement solutions.”

Learn more about Infobird or view the company’s stock updates and financial information here.