Analytics today offers businesses a powerful lens into customer behaviour, going far beyond traditional market research. It's not just about collecting data anymore. It's about creating deep, meaningful insights that can transform how brands interact with their customers. Brands can segment these customers by analysing their buying patterns, history, desires, and tastes. Next, it’s all about personalising the customer journey through the buying process.
“It is not just about communication with the customer — it extends to personalising pricing and the experience across various channels, creating an omnichannel experience, and enabling real-time personalisation based on their actions and external factors such as the weather, which can predict demand and influence purchase decisions,” shares Rohit Nichani, President & Chief Growth Officer, Encora.
Analytics can also help identify and fix customer churn. However, for this to be effective, data must be well organised, and models need to be built to create insights that can be delivered and adjusted in real time. Some examples include analysing past purchase history, buying patterns, and detecting fraudulent activities. It also includes predicting demand based on location and postcode, managing inventory, and setting the right pricing to optimise sales.
“AI is transforming how businesses view customer centricity along with enhancing traditional models,” Nichani states, adding, “The real question is: To what extent is it redefining experiences versus merely enhancing them? Right now, we are only seeing enhancements, but in the next 24 to 36 months, we will see significant transformations.”
Customer interactions typically have 4 key steps: Outreach, acquisition, servicing, and customer support. In all these stages, AI brings context and speed, responding almost instantaneously.
For example, in outreach, AI can fully automate messaging to customers. With amplified customer voices in today’s digital age, businesses must respond in real time. AI enables businesses to curate responses dynamically based on customer feedback, creating a unique experience for new prospects.
Customer acquisition has also become more dynamic. AI allows businesses to adjust pricing in real time based on customer needs. It can analyse competitor pricing and offerings, enabling businesses to differentiate themselves.
Once a customer is acquired, AI revolutionises customer service. When a customer raises a complaint, AI can analyse their issue, reference previous occurrences, and provide an intelligent response. Instead of a generic acknowledgement, AI can generate a comprehensive analysis of the problem and suggest solutions based on historical data. Additionally, AI can shadow human agents, learning from their responses to refine future interactions. This makes customer service more proactive and intelligent.
“AI is enhancing experiences today, but it will eventually redefine them completely,” he explains.
He further shares, “Scalability starts with outreach. Customer acquisition depends on a scalable outreach strategy. The conversion funnel is already challenging, as only a fraction of the prospects convert. AI accelerates this process by personalising messages across channels, whether through social media or targeted impressions.”
While customer centricity has always been a priority, many businesses, especially small and mid-sized ones, lack the resources to be highly responsive. AI bridges this gap by enabling scrappiness, agility, and hyperpersonalisation. It provides them with the necessary scale to achieve effective communication and drive sales.
It can be instantaneous. However, you can’t change the buying behaviour of someone who is not an existing customer. That takes a lot more effort. “Personalising the messaging and putting in front of them what you stand for as a company, and so on, takes a long time. However, it is going to be quicker than before because of the scale involved,” Nichani concludes.
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