AI in 2024

The rise of artificial intelligence (AI) is exciting and daunting in equal measure. But it’s leaving many scratching their heads as to what they should be doing in their business to get the edge, and how exactly to go about it. According to Chief Executive at Accenture, Julie Sweet “most companies are not ready to deploy generative AI at scale, because they lack strong data infrastructure or the controls needed to make sure the technology is used safely”. Much of 2023 was experimental when it came to the business application of AI, but from this period, many learnings have been identified. One such learning is the application of AI in tandem with a focus on customer experience (CX) to maximise the potential for optimised conversion.

 

AI and CX Combined

CX optimisation and AI combined allow you to maximise what you’ve got in terms of website traffic – helping you to capture more leads, decrease bounce rate, increase efficiency, grow basket size, and get more orders – helping you to boost whatever key metric you are keen on increasing. But how do you know how to serve the best experience to each audience, every time? AI-driven solutions can take the guesswork out of standard CRO and help companies achieve sustained growth.

As an example, if you were to grow your conversion rate from 5% to 5.25% (a relatively modest increase) even this small improvement can have incredible ongoing value. Now imagine you’re able to improve your conversion rate by 10%, 20%, 30% or even more. You can quickly see how high-impact improvements can mean thousands of dollars in extra revenue. Common CRO challenges, including experimentation at scale, automating segmentation and of course optimising customer journeys, become less complex and more effective through the adoption of AI.

 

Case Study

In a 4-week test period with HR GO and Evolv.ai, over 1,080 possible designs were tested to monitor iterations of the customer journey – an unprecedented volume compared to manually conducted testing. At the outset of the combined AI / CX testing, HRGO’s conversion rate was below the industry average, at 7%. With over 20,000 candidates regularly frequenting the HR GO job portal website on their job searches, there was adequate traffic with which to enhance testing through the addition of the Evolv.ai software.

It was also clear that there was room for improvement in their conversion rates, making HR GO the ideal candidate for an AI / CX blended approach to testing. Through this AI-supported CRO testing period, with a focus on improving the overall customer experience, a 153% increase in conversions was observed. This conversion optimisation result increased gross additional profit by over £770,000 in the 4-week test period alone.

The testing period itself involved the UX team producing an initial redesign of the job page. Redesigns are most often built out of component elements, and Eclipse wanted to understand at a detailed level what changes would drive increased conversion and which wouldn’t. But, there were many ideas to test—far too many to A/B test on the timeline they had been given.

Eclipse used Evolv’s massively multivariate capabilities to test these individual components and variants to see which changes—and which combinations of changes—were most effective, all in one experiment. Alongside primary design changes, they also tested other design and content changes that normally wouldn’t have made the prioritisation cut when you have to pick one change only to test, a limitation that exists for A/B testing tools but not for Evolv.

 

Summary

Customer Experience has a major impact on brand loyalty, competitive differentiation, and growth. This is largely because today’s consumers have high expectations for digital experiences to serve up a relevant and frictionless journey. User testing as part of a CRO programme to improve CX is a great step in the right direction for businesses who want to take optimisation and the customer seriously.

But to truly maximise effort and investment, AI is required to take your experimentation programme to the next level. In the case study described in this article, Evolv.ai was the tool of choice, applied to great effect in this and many other instances currently taking place with Eclipse clients.

In a period where the interest in AI and CX is on the rise, and the demand for ‘getting it right’ is increasing, but where the confusion around best practices is still commonplace, it’s vital to ensure your starting blocks are set correctly. Partnering with the right team to ensure your guidance is personalised and accurate, and leveraging the right AI tools to accelerate learning is critical to crafting and optimising the ultimate customer experience possible through machine learning.

If you’d like to find out how Eclipse and Evolv can help you achieve incredible results, reach out to our team of experts for a no-obligation chat and together we can explore what AI and Machine Learning can do for you in 2024.