Impacting ROI through Innovation

The industry is innovating at a faster pace than ever before. What used to require human intervention for simple tasks can now be fully automated. Take, for example, how other industries are embracing innovation and improving ROI. Fast food ordering, grocery store check-out, and even self-driving cars have quickly exploded from science fiction to reality.

Communications systems have accelerated equally fast, providing almost ubiquitous information and access in the palm of one’s hand. As a result, people now expect quick and accurate experiences with businesses to earn their loyalty. How can customer service organizations recognize the need for innovation? And more importantly, how do they choose what to use that improves ROI?

Fear of Change Driving Adoption

Many businesses struggle with innovation. Big companies fall behind from a stagnant viewpoint that “this is how we’ve always done things.” Small companies cannot keep up with rapid technology shifts because of an often-perceived learning curve or expected high cost.

It is fair to say that businesses operating with these mindsets impact their ROI, but not as positive as embracing technology improvements and leveraging its value.

Mobile Native Enriched Messaging with Automation Drives Higher ROI

Let’s consider the wireless infrastructure globally now services close to 70% of the population. It behooves us to consider how contact centers or other customer experience systems focus on the mobile experience. And beyond that, in what ways can innovation encourage adoption, digital engagement, and loyalty?

Such innovations like digital assistants can help automate simple repetitive tasks like appointments, general inquiries, and feedback. However, delivering the experience in a flexible way that primarily benefits the customer first is often ignored. Businesses build and deploy custom-built applications which must be downloaded, accounts created, and verified. Only then can the customer get to their actual request. If messaging were already native on the mobile device, then there would be no app fatigue. Customers could engage over globally available mobile ecosystems like Google RCS, Apple Business Chat, and Whatsapp for business, empowering them with secure and intuitive enriched messaging. While chatbots cannot solve every issue, innovations like human-in-the-loop (HITL) could transfer to a live person to continue the conversation with full context. The beauty of such solutions is no application development, no gear to purchase, and potentially an easily deployable self-service list of chatbots to augment support personnel.

Summary

Focusing on improving ROI in a business requires awareness of technology shifts, a willingness to understand how innovation can benefit the bottom line, and knowing how to deploy the best assets that help customers and, ultimately, the business. Moving from traditional legacy channels like voice, email, and SMS to modern enriched mobile-first messaging can shift a business from laggard to market disruptor.

Embracing innovation through enriched mobile messaging and chatbots will improve ROI. How modern is your customer engagement?

Learn more about mobile messaging and chatbots at: https://www.mavenir.com/portfolio/mavbiz/