Loris: AI-Driven Customer Service Post-Pandemic Strategy

Loris

Founded in 2018, offers AI customer service solutions.

Agent Assist

Real-time support for customer service agents.
Supports CSAs to manage conversations to customers • Set up workflows (specialized processes) to deal with specific problems and meet goals. • Predict customer defection and make specific offers

Insights

Monitors live-chat conversations for analysis. OFFERS CS LEADERS A DASHBOARD ON TRENDS IN CS AND ISSUE RESOLUTION LINKS THESE TO FIRM PERFORMANCE LINKS INDIVIDUAL AGENTS TO CS OF CUSTOMER RSSERVED BY THEM

AQA ; Assessment quality assurance

ASSESS CSA PERFORMANCE QUALITY INFORMATION ON SKILL GAPS HIGHLY PERSONALIZED INFORMATION ON CSA TO HELP BUILD CAPABILITY

Who are their customers

What customer problems are being solved? • Small to medium-sized firms? • Small firms go to BPO • Firms with 100-5000 CSAs. • Who are the stakeholders in the decision? • CEO, CXO, CTO, CFO? • How do you establish the need for their products?

Go to market strategy

Sales-Led Growth • Marketing and personal sales • 7 employees; 35% of salary expenses • Customer acquisition cost? • PLG • Great user experience, recommendations • Network effects • Customer acquisition cost? • P4P• Long sales cycle, endowed customer • Customer acquisition cost? P4P • Long sales cycle, endowed customer

Why didn't Sales led growth work

CXO political power

Cost versus revenue enhancement

Complex product Overlay on existing products Complex buying system

Loris x chat gpt

Loris had been in the space for a few years before this release, and one of the struggles with pushing AI isresistance to adoption• ChatGPT's launch started a major wave of interest in AI• ChatGPT's contributions to widespread acceptance ofAI could make it easier for Loris to convince newprospects to buy in• Advancements in the field of AI could open up both newprospects for Loris and new products or services• However, if competitors are getting a lot of theairtime, it might cut into their market share

Customer Acquisition Cost

Total cost to acquire a new customer.

Sales-Led Growth

Focus on sales and marketing for growth.

Gen AI

Generative AI enhances customer service interactions.

Pitfalls of AI

Challenges include lack of personalization and empathy.