Monday, August 20, 2018
CX Tech

The Sales Funnel is Officially Extinct

Samantha Hausler
November 06, 2017

3 minute read

Digital disrupters are finding ways to serve unmet customer demand. They’re creating disjointed buyer journeys that are hard to stay ahead of, riddling the total customer experience with infinite touchpoints and removing barriers to entry. According to a study by Harvard Business Review, 73% of shoppers surveyed used multiple channels along their shopping journey, with omnichannel customers spending more compared to those who used a single touchpoint.

Despite the fact that the traditional sales funnel is officially extinct, with this new digital journey comes opportunities to collect customer data that we’ve never had before, allowing businesses to take back control.

By unifying all available data, companies can perfectly personalize customer interactions at any moment to amplify engagement – and, both emerging and traditional ways to apply it make those engagements more meaningful.

Here are three equations rooted in data that will personalize the customer experience you deliver:

Machine Learning and Chatbots

Your customers have a growing number of channels at their disposal. To be where customers already are, savvy businesses are integrating chatbots into popular messengers and apps to deliver the level of personal service that’s expected at the first “hello.” With chatbots, data and machine learning join forces to extend an always-open arm of your customer service team and use data to tailor the experience. The second your customer finds you, you’re ready, willing, and able to knowledgeably respond. As an added benefit, communicating in these private chatbot environments encourages engagement – research found that private messages sent by companies have a 96% response rate.

Data and AI

Artificial Intelligence (AI) is the hottest topic in tech. At a high-level, AI uses machine intelligence to filter through, analyze, learn from, and interpret data in ways us mere mortals aren’t able to. AI has superhuman power that makes sense of millions of customer touches to tell a 360-degree story of individual needs, wants, and expectations – and, it only gets smarter each time new data is fed to it. Moving into 2018, it’s certain customer experience will be fueled by AI to make interactions more valuable and enhance how we connect with the customer.

Data and IOTSimply defined, the term Internet of Things (IoT) is used to describe the connection of people and things – such as appliances, automobiles, electronics, and consumer goods – to the internet in order to report on configuration, usage, condition, and much more. Even better, it reports problems back to the “mothership” to make real-time improvements on the product itself or others’ use of it. The IoT is the reason you’re able to raise your home thermostat via a mobile app, wear a smart watch that tracks your health and suggests lifestyle changes, and watch a car drive by without a driver.

Find out what other technology is affecting customer experience in 5 Data-Driven Tech Trends Shaping Customer Experience in 2017.

Samantha Hausler
Samantha Hausler is a bit obsessed over digital tech trends, coffee, travel, brunch, and reality TV. Samantha is a Marketing Strategist for Oracle CX with over 9 years of experience in the industry.
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