LivePerson has expanded its portfolio with two new offerings: the Conversational Intelligence suite, which leverages AI and automation to enhance customer interactions, and LP 360, an enterprise-managed services solution to assist businesses in shifting customer conversations to digital channels for improved outcomes.
“As the most scaled solution for messaging and automation in the world — and with one of the world’s most extensive datasets for customer engagement — LivePerson sets the standard for turning conversational data into better business outcomes. Our Conversational Intelligence suite puts the ‘I’ in AI by allowing you to understand what customers want, measure your performance, and continuously improve. And that’s just the beginning: beyond optimization and personalization, Conversational Intelligence even allows you to uncover new revenue opportunities that transform your business,” said John Collins, Interim CEO of LivePerson.
Conversational Intelligence suite
Within LivePerson's Conversational Cloud, the Conversational Intelligence suite comprises three solutions that harness the data from customer conversations, including both spoken and written exchanges. These solutions are designed to revolutionize the impact of conversational AI on business outcomes through features like
Analytics Studio: This tool consolidates and transforms voice and messaging dialogues into practical data, offering valuable insights into customer behaviors, preferences, and cues across various communication channels.
Generative Insights: By employing advanced large language models, this feature streamlines the analysis of conversational data, eliminating the need for laborious transcript and spreadsheet sorting. Users can now pose open-ended questions and receive immediate insights derived from customer interactions.
Report Center: This solution aggregates reporting data into an easily configurable dashboard, facilitating the evaluation of both AI-driven and human-powered interactions' performance.
With the introduction of Conversational Intelligence solutions, LivePerson aims to further enhance its ability to utilize data effectively in providing superior customer service.
LP 360 program
LP 360 is a comprehensive managed services program tailored for enterprise-level conversations. The program focuses on three key aspects: performance, platform, and people.
Drawing from industry benchmarks, LP 360 establishes a performance baseline and continuously measures progress against the KPIs that are most relevant to a specific business. These KPIs can encompass lead generation, conversion rates, cost reduction, revenue growth, and other specific goals.
Leveraging the capabilities of the Conversational Intelligence suite, LP 360 assists in deciphering customer intentions and collaborates with teams to digitize and eventually automate these intentions.
Early adopters have experienced reduced wait times
Online marketplace The RealReal, a LivePerson customer that partnered with Salesforce earlier this year, collaborated with the LP 360 team to swiftly introduce an elevated, luxury-grade experience for consignors, buyers, and internal staff within a remarkably short six-week timeframe. The initial outcomes included a notable reduction in wait times, with messaging taking less than two minutes compared to a three-day wait for email responses.
“I’ve learned from my experience with LivePerson that the intent data we collect is a treasure trove for understanding our customers. Having access to what our clients are saying — and being able to surface that to drive business outcomes — is a massive opportunity. We’re able to analyze real-time, verbatim feedback, which is something I personally do every single morning to understand our customers' wants and pain points,” said Holly Carroll, Vice President of Client Services at The RealReal.
In July, LivePerson announced the launch of LivePerson Marketplace, its own platform for innovative integrations, expanding the functionalities of its renowned Conversational Cloud.