In the mind of an entrepreneur, most people, if not all of them, are potential clients. For the marketer and sales agent, each client is gauged by the amount of revenue s/he brings to the company. It is imperative that once a client has signed up for a product or service s/he actually goes ahead to buy that product or service hence their membership is converted to revenue.
From time immemorial, conversion rate optimization has been the bonus of many a marketing department. It is considered as the holy grail of marketing. Even with the use of technology, marketing still costs a humongous amount for any company, but with the advent of artificial intelligence, this is likely to change.
With artificial intelligence (AI), it is possible to make the customer experience more satisfying than it is without. Customers can rest assured of getting value for their money, and not being exposed to irrelevant or outdated incentives through the use of AI. With such an outlook, it is expected that it will be quite normal for customers to envisage businesses that understand their needs and excellently step in to cater for those needs.
To achieve conversion rate optimization, companies will need to consider AI that can speak to customers through voice assistance as is the case with Google Assist and Alexa. That notwithstanding, it will also be imperative for them to consider the reduction of turn-around times or the time it takes to provide a service or manufacture a product. This will ensure that customers get what they want when they want it.
Sentient AIs should also be able to look after the clients as a form of value addition to the service or product being provided. For example, a product can be made which, apart from service a specific purpose, can also alert the user when say, the air has been contaminated.
Sentient AI has been used successfully in the banking sector. Of particular interest in this regard is American Express, which makes it much easier for exporters to receive foreign currency and for buyers to initiate electronic payments for their suppliers. American express may be regarded as one of the banks that have achieved conversion rate optimization.
It is expected that digital marketing in the telecommunications sector will also resort to sentient AI for conversion rate optimization. The role of AI cannot be overemphasized with regard to network automation and technological integration.