Every business faces uncertainty in its operations at some point, but it can easily escalate into a potential crisis. But what if we could predict and overcome such crisis before they happen? This is where artificial intelligence (AI) comes in. It’s a powerful tool that can help you reach new levels of efficiency, guess how customers will act, and eventually boost growth.
Now, let’s understand from a case study how to leverage AI to your enterprise’s advantage. We’ll explore how predictive AI and generative AI come together to resolve a potential crisis for an enterprise to create a smarter workflow with increased operational efficiency.
Overview of Salesforce Einstein
Salesforce Einstein is considered the first comprehensive AI for CRM. It is a collection of AI tools that collaborate to make the Customer Success Platform more efficient & effective at what it does. In addition, it helps enterprises find new sales possibilities, handle service cases, create predictive journeys, and develop personalized customer experiences.
What Differentiates Einstein From other AI Tools?
Einstein is the only AI for CRM that does everything. It is:
- Data-ready: You don’t have to prepare the data or handle the models. Simply enter the data into Salesforce, and it works.
- Modeling-ready: Thanks to multitenant, automated machine learning, the ideal model is immediately adapted according to your company needs.
- Production-ready: There’s no need for DevOps. It is a component of the same reliable Salesforce platform that includes tools for model maintenance and monitoring.
4 Steps to AI Success: AirLink’s Journey
Imagine a world where managing your mobile connectivity is effortless. AirLink, a forward-thinking provider of mobile and internet utilities, makes this a reality. They offer innovative services designed for the modern lifestyle, allowing users to seamlessly manage their connections through a user-friendly mobile platform. But AirLink, ever-focused on improvement, recognized a hidden bottleneck in their customer journey – late payments.
Customers hate it when payments are late, and businesses lose a lot of money when late payments happen. It used to be hard to see these things coming and help stop them. AirLink, however, saw an opportunity in the burgeoning world of AI.
Salesforce Einstein: The AI Solution
Within the Salesforce CRM platform, Einstein comes with a powerful suite of AI tools. AirLink recognized the opportunity to use Einstein’s predictive powers to address customer attrition, with a particular emphasis on late payments. They embarked on a strategic journey, harnessing the power of AI in four key steps:
1. Identifying The Problem
AirLink’s initial analysis revealed a concerning trend – late payments and a subsequent dip in revenue. However, they dug deeper. They realized that simply tracking late payments wasn’t enough. To truly address the issue, they needed to predict it.
2. Data: The Fuel for AI
The team at AirLink understood that historical data held the key to unlocking predictive power. They meticulously identified various indicators that could signal a potential late payment, such as:
- Partial payments: A consistent tendency to pay bills in parts could indicate difficulty meeting full payment obligations.
- Shifting spending habits: Significant changes in spending patterns, like increased reliance on credit cards, might suggest financial strain.
- Payment history: Past instances of missed or late payments could signify a recurring issue.
- Usage patterns: A decrease in usage could potentially indicate financial difficulties impacting bill payments.
- Low engagement: Minimal response to payment reminders might signal disengagement or lack of urgency regarding deadlines.
- Financial instability indicators: Events like job loss or a deteriorating credit score could impact a customer’s ability to pay on time.
- Payment delays: Outstanding balances in other accounts could point towards broader financial management challenges.
3. From Predictions to Actionable Insights
Armed with this valuable data and powered by Salesforce Einstein, AirLink developed a “Predictive Late Payment Score.” This score categorized customers based on their likelihood of missing payments. Now, they had actionable insights, but how could they translate them into real-world improvements?
4. Tailored Interactions for Enhanced Customer Experience
The power of AI lies not just in prediction, but also in its ability to personalize customer interactions. AirLink leveraged the Predictive Late Payment Scores to segment their customer base and tailor communication accordingly:
- High-risk accounts: Customers with scores ranging from 75-99 received personalized incentives to set up automated payments, highlighting the convenience and potential cost savings (e.g., “Switch to Auto-pay today! Never miss a payment and save $600/year”).
- Moderate-risk accounts: Customers scoring between 50-74 received friendly reminder emails, emphasizing AirLink’s commitment to providing seamless payment options.
The Results
By embracing AI, AirLink achieved remarkable results:
32% Decrease in Late Payments
Early intervention based on predictions made a significant impact.
25% Decrease in Moderate-Late Payments
Proactive nudges for moderate-risk customers kept them on track.
16% Growth in Revenue
Timely payments translated to a significant revenue boost.
Increased Customer Satisfaction Score
Personalized communication fostered positive customer experiences.
View Our Webinar on “Why Your Enterprise Needs AI?” & Get Better Understanding.
The Takeaway
AirLink’s story serves as a compelling testament to the transformative power of AI. This technology allows businesses to move beyond reactive solutions and proactively address customer concerns. A lot of businesses can run more smoothly and have better relationships with customers if they use AI to do things like personalize marketing efforts & predict which customers will leave. Now, are you ready to make your business AI-ready? This is a big step, so let AblyPro be your trusted partner and help you set up and handle Salesforce Einstein. This will give your business the tools it needs to grow like never before and make customers happier than ever.
Author
Global COO, AblyPro
For 20 years, Neeraj has worked alongside a multitalented team to help associations and nonprofits drive digital transformation within their organization, enabling them to be more innovative, agile, and donor/member-centric. As AblyPro’s Global COO, he leads an internal task force that shares lessons learned, best practices, and practical applications that specifically relate to associations and nonprofits. With 300+ developers by his side, Neeraj provides clients with the resources and capacity to power up their teams.
