{"id":46628,"date":"2024-06-19T15:18:46","date_gmt":"2024-06-19T15:18:46","guid":{"rendered":"https:\/\/www.customerservicemanager.com\/?p=46628"},"modified":"2024-06-19T15:20:18","modified_gmt":"2024-06-19T15:20:18","slug":"verizon-utilizes-genai-to-enhance-customer-loyalty","status":"publish","type":"post","link":"https:\/\/www.customerservicemanager.com\/verizon-utilizes-genai-to-enhance-customer-loyalty\/","title":{"rendered":"Verizon Utilizes GenAI to Enhance Customer Loyalty"},"content":{"rendered":"\"Verizon\"\n

With an eye on boosting customer retention, Verizon is harnessing the power of generative AI.<\/strong><\/p>\n

By strategically using AI in real-time customer call analysis, the telecommunication giant aims to prevent 100,000 customers from severing ties.<\/p>\n

The technology has 1,500 individualized data points tied to your phone number and its\u00a0accuracy in predicting the reason behind a customer\u2019s call stands at an impressive 80%.\u00a0When customers call in, Verizon swiftly directs them to agents skilled in tackling their particular concerns, dramatically reducing churn rates.<\/p>\n

This latest move is part of its AI-driven journey, incorporating four cutting-edge products into its commercial operations.<\/p>\n

Seamless Customer Journey<\/strong><\/p>\n

Imagine walking into a store and being blown away by a seamless customer experience – that’s exactly what this American telecom company is aiming for by leveraging this cutting-edge tech.<\/p>\n

Tailoring offers to individual customers during their store visit, Verizon has managed to shave off about seven minutes from the average store visit time, a significant efficiency upgrade given their staggering 70 million annual store visits.<\/p>\n

Reducing Customer Churn<\/strong><\/p>\n

In 2023, the company proudly announced approximately 145 million wireless retail connections. However, the reported churn rate was hovering around 1%. Verizon aims to cut down this rate even further this year by upping its CX game with GenAI.<\/p>\n

To Verizon CEO Hans Vestberg, the importance of these AI-driven initiatives cannot be overstated.\u00a0Vestberg took the stage at the Future Talent Summit<\/a> in Stockholm to drive home a crucial point: that smart technology can bring a range of benefits \u2013 from delighting customers and employees, to pumping up the bottom line.<\/p>\n","protected":false},"excerpt":{"rendered":"

By strategically using AI in real-time customer call analysis, the telecommunication giant aims to prevent 100,000 customers from severing ties. This latest move is part of Verizon’s AI-driven journey..<\/p>\n","protected":false},"author":108,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[4],"tags":[],"_links":{"self":[{"href":"https:\/\/www.customerservicemanager.com\/wp-json\/wp\/v2\/posts\/46628"}],"collection":[{"href":"https:\/\/www.customerservicemanager.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.customerservicemanager.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.customerservicemanager.com\/wp-json\/wp\/v2\/users\/108"}],"replies":[{"embeddable":true,"href":"https:\/\/www.customerservicemanager.com\/wp-json\/wp\/v2\/comments?post=46628"}],"version-history":[{"count":7,"href":"https:\/\/www.customerservicemanager.com\/wp-json\/wp\/v2\/posts\/46628\/revisions"}],"predecessor-version":[{"id":46637,"href":"https:\/\/www.customerservicemanager.com\/wp-json\/wp\/v2\/posts\/46628\/revisions\/46637"}],"wp:attachment":[{"href":"https:\/\/www.customerservicemanager.com\/wp-json\/wp\/v2\/media?parent=46628"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.customerservicemanager.com\/wp-json\/wp\/v2\/categories?post=46628"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.customerservicemanager.com\/wp-json\/wp\/v2\/tags?post=46628"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}