With Empathy on The Decline, AI Is Helping Brands Connect With Customers In An Empathic Way

Emotional intelligence is a crucial aspect of customer communication, and key to deliver exceptional customer experiences.

Emotional intelligence is a crucial aspect of customer communication, and key to deliver exceptional customer experiences. Today, leveraging automation in the sales, marketing and customer service arena while balancing the need for empathy is critical.

While empathy is seen as a uniquely human trait, developments in artificial intelligence (AI) to help brands recognize and respond in an empathetic manner are on the rise and come at a critical time. Studies show that human empathy is on the decline – a deficit costing the average brand $300 million in lost revenue every year.

For brands to truly connect with their customers to effectively market, sell and serve, they need to really understand the customer mindset. This is where empathic AI solutions are coming into the picture to complement and empower sales, marketing, and service professionals on the customer front lines to detect the customer’s emotional state and intent and deliver a better customer experience.

Empathic AI capabilities have great potential to augment human empathy. As such, AI is becoming fundamental in the customer experience realm to boost customer satisfaction and improve the bottom line. We know that emotional intelligence can vary from one employee to the next; empathic AI can help level up employees that might otherwise miss the emotional cues from customers.

The importance of emotional intelligence in business

Customers seek easy, effortless experiences that satisfy their existing and future needs; some 86 percent will pay more for a great customer experience. How customers feel drives their purchasing habits. This is where brand emotional intelligence plays a critical role.

McKinsey recently referenced a study that evaluated 170 publicly traded companies on their empathic abilities and found that businesses with empathy within their culture, and toward the customer, will have a net positive benefit on their bottom line. The top ten leaders in empathy outperformed the bottom ten by two times on the stock market.

Gartner agrees that companies that deploy empathy significantly outperform those that don’t, in terms of sales and profit. Designing an emotionally aware organization is increasingly becoming a topic at the top of the board room agendas. The truth is, people staff organizations and people have feelings. This goes well beyond the employees of a company; it also extends to its customers.

Empathy: The new frontier for CX success

Empathy is critical yet elusive. According to Forrester, consumers are gravitating toward the brands that prioritize people over profits. While nearly all businesses know the importance of showing customer empathy, most struggle to deliver it on a consistent basis.

Using AI to identify how customers feel, so customer-facing professionals can understand and respond in real-time, has many organizations prioritizing humans and bots working together to bring out each other’s best capabilities. Today, AI-driven sentiment analysis capabilities are supercharging CRM functions such as sales, marketing, and service interactions with the power of knowing each customer’s and prospect’s emotional state and intent.

Paul Greenberg, President of the 56 Group, LLC and author of The Commonwealth of Self Interest: Business Success Through Customer Engagement, has written extensively about the business empathy imperative – the ability to understand what customers and employees are going through, along with the relevant context, and act accordingly.

He states, “One of the highest callings of customer experience professionals and enabling technology platforms is helping customers via an understanding of their struggles and aspirations.”

Empathic AI solutions are becoming increasingly good at using sentiment analysis capabilities to understand the customer better, leveraging a combination of Natural Language Processing (NLP) and AI to surface next-level or next-best-action for empathic customer engagement.

Greenberg says, “AI-powered sentiment analysis weds customer voice and text to business action, providing every sales and service interaction with the means to account for customers’ emotional tone and attitude – context indispensable to supporting exceptional experiences.”

In addition, business professionals can review sentiment data to evaluate overall customer experience and journey effectiveness – providing the means for continuous improvement in meeting and exceeding customer expectations.

Human empathy augmented by empathic AI solutions is helping front-line employees who work directly with customers better understand and respond in context to the range and depth of customer behaviors and emotions to ultimately serve them better.

The winning formula

CX is a journey, and businesses need to enable their workforce to deliver something more than a frictionless experience – a human experience that recognizes human emotional needs. On many occasions, customers will desire a self-serve interaction that is quick, easy and makes the best use of their time.

However, at other times when there is a problem or they are wanting to understand how a product or service will best meet their needs, they will want a human to recognize and deliver the requisite emotional quotient for that customer to be truly understood, felt, and heard.

Today, organizations are focusing on harnessing AI to better understand and deliver on customer needs. Empathic AI solutions can empower customer-facing professionals to produce the right answers and outcomes quickly and confidently, commanding greater customer satisfaction and loyalty by detecting customer intent and emotional state.

By identifying and solving the emotions behind the “why,” companies can better serve the needs of their customers. Leveraging AI-powered solutions using sentiment analysis capabilities provides the predictive insights businesses need to recognize customer emotions and intent with accuracy and precision at scale.

By Chief Customer Officer, SugarCRM

Source: With empathy on the decline, AI is helping brands connect with customers in an empathic way | ITProPortal

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Empathy Is The Skill Of The Future, Google Says

EMPATHY is now a major skill needed in growing an innovation mindset in an organization as it helps business leaders come up with better solutions, Google LLC’s Chief Innovation Evangelist Frederik G. Pferdt said.

“Empathy is the skill of the future, and practicing empathy every day as a business leader, for example, helps you understand what your employees need and what your immediate team actually needs right now, So, putting yourself into their situation, to really understand how they really think and feel, helps you come up with better solutions for your employees,” Mr. Pferdt said at a virtual forum on Jan. 29.

He noted that innovation is now in great demand due to the pandemic crisis.

“In the past, everyone wanted to innovate. Now, everyone needs to innovate. This pandemic allows everyone to do things differently and has been a key innovation accelerator for companies and individuals who are trying to not only survive the crisis, but finally move forward again,” he said.

Hence, business leaders should help their teams develop an innovation mindset, he said. Aside from practicing empathy, it is important that business leaders are able to reframe challenges into opportunities, Mr. Pferdt noted.

“Reimagine tomorrow, today. How can or should tomorrow be different? What could a better world look like? Mindset matters!” he said. “Small and big experiments lead to learning how the future could work,” he added.

He also said the power of rituals can be used in organizations to build a “sense of belonging and cohesion in times of distance.”“Leaders need to identify values, craft powerful rituals, and foster a future-ready culture that’s prepared for the new normal. After all, you need trust and collaboration to establish a culture of innovation.”

Adobe’s 2021 Digital Trends Report, an annual survey that charts the evolution of marketing, advertising, e-commerce, creative and technology professionals, also identified empathy as the driver of experience.

“Empathy is an under-utilized differentiator that is accessible to all by combining their depth of customer and product knowledge and then demonstrating it at critical stages in the experience,” the report said.

“Understanding how people feel is an essential, but often an overlooked part of the experience. Analyzing and anticipating their reactions at decision points and during moments of friction will make the process work better for both sides,” it explained.

By Arjay L. Balinbin, Senior Reporter

Source: Empathy is the skill of the future, Google says | BusinessWorld

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Technology is radically transforming the world of work. But despite AI’s rapid advancements, robots will never be able to do everything humans can. Saadia Zahidi explains how creativity and empathy will be more important in the future, as jobs grow in professions such as caregiving and teaching. But for workers to keep with change, reskilling, upskilling and retraining is essential. Here’s what you need to know about the skills you’ll need to stay ahead.
The World Economic Forum is the International Organization for Public-Private Cooperation. The Forum engages the foremost political, business, cultural and other leaders of society to shape global, regional and industry agendas. We believe that progress happens by bringing together people from all walks of life who have the drive and the influence to make positive change. World Economic Forum Website ► http://www.weforum.org/ Facebook ► https://www.facebook.com/worldeconomi… YouTube ► https://www.youtube.com/wef Instagram ► https://www.instagram.com/worldeconom… Twitter ► https://twitter.com/wef LinkedIn ► https://www.linkedin.com/company/worl… TikTok ► https://www.tiktok.com/@worldeconomic… Flipboard ► https://flipboard.com/@WEF
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3 Ways To Be An Authentically Empathetic Brand

The pandemic has shown us that brands and leaders acting with empathy, authenticity and transparency have an edge. From the media attention and cultural significance Zoom garnered by supporting K-12 schools to Starbucks expanding mental health benefits to its employees and their families, consumers are taking notice. In fact, DoSomethingStrategic has been researching Gen Z’s response to brands throughout the COVID-19 crisis and found that even young people are paying attention to how companies treat employees, partners and communities — and they reward or punish said companies with their wallets.

According to a recent poll, Americans believe it is now more critical than ever that brands “demonstrate empathetic qualities and take action to maintain customer loyalty and support.”

Empathetic leaders, cultures and brands enjoy higher levels of innovation, collaboration, loyalty, positive word of mouth and, per my experience and research, profitability and market valuation. The results prove that empathy is not just good for society; it’s great for business.

Leaders are starting to get it. But how can they ensure this empathy comes across as authentic and engaging to customers? After all, we’ve all been burned by companies that say they care about customers when the reality is quite different.

To be believable, effective branding must start from the inside out. Here are three ways to ensure your brand — as a leader or as a company — walks the talk and avoids what I call the dreaded “empathy veneer.”

1. Move Beyond Social Memes

Marketing can’t solve all your reputation issues. It simply communicates the truth of your real story. Involve every department in the conversation: HR, product, customer service. Who are we? Why are we here? Who do we serve? What are we about? Align on your mission and values, and audit your policies and practices to back up your claims. If you have not “operationalized” this value, no one will believe in it. For example, if your company is taking an empathetic stance on racial injustice, posting nice thoughts on social media is not enough. Your company must change its hiring practices, recruiting policies and pay structures to make customers believe you are the real deal.

2. Hire For Emotional Intelligence

A brand is merely a collection of actions performed by people. If you truly want to be an empathetic brand, you must hire the right people to live it out. This means going beyond the resume and assessing emotional intelligence. Ask tough questions to get to who people really are: How did they get past a disagreement with a colleague? What do they do to ensure their team members feel seen, heard and valued? How do they handle negative feedback? How have they gone “off script” to solve a customer’s problem? You can always teach technical skills but it’s harder to teach someone to be creative or collaborative in a clutch moment.

3. Leverage Accountability and Rewards

If you want your organization to have an empathetic culture, you have to make that the criteria for success. This means acknowledging, rewarding and modeling the behaviors you seek through performance evaluations or bonus discussions. Others will see that this is how success happens at your company, and they will understand this is what is expected. Employees are not dumb. If you’re constantly rewarding people who blatantly ignore core values, refuse to listen or disrespect colleagues, you send a clear message that your words mean nothing.

Your company can’t simply make empty marketing promises if your internal processes don’t align to external gestures. Branding starts from the inside out.

It’s not merely about projecting an empathetic brand. Walk your talk across the entire customer experience. If you do that, customers will see you as authentic and engaging, whether they’re interacting with your company in person or online.

By: Maria Ross , Founder, Red Slice

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Flying Canvas Productions

There are 3 components you must have to market with empathy. But first, you must understand what empathy really is: a personal identification between story and audience. It’s not enough to create video content. Customers demand stories. Therefore, brands have to be storytellers. This video guides you through the requirements of empathetic marketing, while steering clear of the pitfalls of misusing it. https://flyingcanvasproductions.com/e…​ Flying Canvas is more than a video production company. We’re story-makers. We’re an artisan video marketing studio for the digital brands and agencies, who want to rise to the modern customer’s demands. https://flyingcanvasproductions.com

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