Capgemini research revealed that consumers double their spending if they are invested emotionally.
To effectively increase consumer lifetime value and build loyalty, brands are seeking to connect with their consumers emotionally. Despite the limitations of AI-powered bots for human interactions, businesses are expected to increase their reliance on them by 136% by the end of 2021.
According to a Harvard Business Review, emotionally connected consumers are twice as valuable as highly satisfied consumers. While there is no replacement for human-to-human interaction, employing real people to connect with consumers emotionally might not be feasible for all brands.
However, the AI-powered bots driven by natural language processing are helping brands close the emotional gap. Simply implementing chatbots wouldn’t help brands emotionally connect with their consumers; they should instead seek to build real and valuable connections.
[3 minute read]