Solvvy Launches Assist at Shoptalk - AI-Powered Customer Support for the Subscription E-Commerce Market
20 March 2019
SAN MATEO, Calif., March 5, 2019 /PRNewswire/ -- Solvvy, a conversational intelligence platform delivering effortless customer experiences, has introduced Solvvy Assist, a machine learning solution that instantly resolves customer issues. Assist is able to understand customer intent, guiding them through automated steps to resolve complex self-service requests, delivering personalization at scale. Customer support agents can now spend their time working on complex tickets that require a human touch while Assist handles the common, repetitive tickets.
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Reducing churn and increasing customer satisfaction
Annual churn rates for subscription companies are between 20 to 30 percent, according to Tien Tzuo, founder and CEO of Zuora. Strengthening customer relationships and improving loyalty is the highest priority for subscription companies. By providing better experiences and reducing churn, organizations can substantially increase profitability.
A popular fragrance subscription service has effectively reduced subscription cancellations with Assist, saving over 25% in monthly recurring revenue. By providing customers with total control over their subscriptions, with options to cancel, pause or change the frequency of monthly shipments, customers are less likely to churn.
"Customers expect an effortless experience -- and churn rates have caused subscription e-commerce companies to feel pressured to meet rising expectations more than any other industry," said Mahesh Ram, CEO at Solvvy. "Assist provides brands the ability to remove friction associated with subscription management and order tracking."
Making repetitive customer support tickets a thing of the past
Gartner reports that 48 percent of customer service interactions start with self-service, with this number expected to rise to 85 percent by 2022.1 For the growing number of customers who expect immediate responses to their issues, Solvvy's customers can resolve issues in real-time and on-demand while being provided with total control over their online shopping experience. Most businesses can't afford to staff enough human agents to resolve issues 24/7, but Assist allows organizations to scale affordably by providing quick and convenient self-service.
Headquartered in San Mateo, CA, Solvvy (@solvvyinc) builds software that enables effortless interactions between businesses and consumers. Solvvy's platform is powered by advanced AI, resolving customer issues at speed and scale. Its customers include leading global brands such as Atlassian, Vimeo, Under Armour, GoFundMe, Upwork, MailChimp and many others. For more information, visit https://solvvy.com/.
1 Gartner, "Four Best Practices for Implementing Extreme Customer Self-Service," November 28, 2018 by Brian Manusama and Nadine LeBlanc