Transforming CX Through AI & Analytics

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Customer experience is a critical asset in maintaining customer loyalty for brands, and AI technology combined with data analytics may be the key to keeping consumers engaged in a crowded market, writes, Cris Kuehl, VP of Analytics and Client Insights, Sitel Group. Gen Z is a business opportunity you can't afford to miss. As 40% of the population commanding upwards of $40 billion in spending power, modern marketers need to build compelling strategies to engage with Gen Z. Nearly a third (32%) of customers say they would stop doing business with a brand after only one bad experience and 73% point to experience as an important factor when deciding on a purchase. Customers also aren't shy in spreading the word about their bad experiences – in fact, 30% would write a negative review of a brand online to prevent others from shopping with the brand. All of this said, there's no denying that customer experience (CX) is an important element of any business, but for consumer brands in particular there's an added element of risk involved as customer loyalty is at stake.