Welcome to Virtual Brand Assistants and the Future of Work
Todays’ consumers, the Now-Generation, are more demanding than ever. They want fast answers when and where they want them and have little patience for long static videos or “hunt and peck” searches of FAQs. Unfortunately, the labor shortage is making this situation worse. The lack of personalized interactions negatively impacts conversion and retention rates. Accordingly, the time has come for businesses to adopt the metaverse of virtual brand assistants.
COVID has created an unprecedented change in the labor workforce. At the same time, the costs for acquiring and retaining quality team members are also increasing. From fast food orders to assisted selling to customer service, high-value brands and their retail and commerce partners struggle with low conversion, high abandonment rates, and growing customer dissatisfaction.
With 10.6 million unfilled jobs across the country, the months-long labor shortage is weighing on the U.S. economy. Small businesses are losing money due to understaffing. Local governments are struggling to fill jobs. Investors are spooked, and corporate profits are taking a hit. Is ‘long Covid’ worsening the labor shortage? Brookings Institute, Katie BachTuesday, January 11, 2022
Equally important, enterprises are searching for opportunities to address staffing challenges’ cost, coverage, and consistency to perform repetitive but critical business processes.
With almost unlimited use cases, conversational brand assistants can improve the productivity and effectiveness of existing staff while enabling a new and deeper level of user engagement.
“by 2025, AI will power 95% of all customer interactions, including live telephone and online conversations that will leave customers unable to ‘spot the bot’. At the same time, consumer expectations that businesses use visual technologies such as virtual and augmented reality, and holograms, are set to skyrocket. Businesses that fail to prepare for this future now face a severe risk of being left behind by their competitors.” AI will power 95% of customer interactions by 2025, Financial Digest.
The Evolution Toward Conversational Brand Assistants
While we all grew tired of complex IVR menus many years ago, text-based chatbots morphed into conversational bots and then quickly became voice assistants.
The explosive growth and popularity of Siri, Alexa, and other voice assistant platforms (close to 5B worldwide), forever change how we engage with our digital companions. Today, the Now-Generation wants even more than picking their music or turning off the lights.
“… today’s consumers want to get fast answers, interactive video content, and personalized journeys, brands need to deliver impactful video-based experiences — when, where, and how consumers want them based on user input and preferences.”
Improving Relationship Lifecycles With Conversational AI
Conversational video brand assistants are the perfect “near-human” complement to your support, sales, service, accounts receivable and administrative teams. In fact, with Vocinity, it is fast, easy, and cost-effective to create and deploy omnichannel virtual brand assistants.
There’s no shortage of customer lifecycle use cases with compelling ROIs. As a result, companies improve user engagements through memorable, interactive video-based journeys – online, in-office, and across retail locations. At the same time, top-line revenue increases and operating costs lower. Consequently, brands and their retail and commerce partners also capture valuable customer behavior insights. And by integrating Virtual Brand Assistants into off-line and online customer touchpoints, the effectiveness, productivity, and satisfaction of existing staff increases.
The Metaverse Works For Businesses Too
Forget about NFTs and virtual worlds for a moment, and realize that the future of work includes the metaverse of virtual brand assistants. The integration of digital assistants into business processes is not new, but today’s consumer needs demand a change in the status quo. With no end in sight for the increasing labor shortages, companies should add conversational brand assistants to shore up their key business processes.
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