Artificial Intelligence is Transforming Sales, Big businesses and the small ones have all entered the fray when it comes to Artificial Intelligence. The technology is bringing in paradigm shifts to the way businesses are run all over the world. From developing neural networks to cognitive recognition, to changing the mainstream business landscape, AI is truly revolutionizing all areas of human experience. The field service management space is no exception to the effects of AI. Businesses are keeping track of their on-field workers through powerful software solutions, and are leveraging AI to make smart decisions about aspects such as the travel route for a service professional, the right time to contact a customer, etc.
Humans are embracing bots as their colleagues and peers. Bots are being made human-friendly and workplace-friendly so that the technology of AI can gel up in the companies and lead to major advancements thereafter. The sales process has witnessed a major impact of the outbreak of bots on websites, chat applications and every other communication pipeline that was restricted to humans.
About 23% of businesses already had undertaken an AI pilot project in 2017. This is the rate of adoption businesses are creating. IBM Watson is the most significant and critical example of the power Artificial Intelligence holds. The software built and birthed from AI has the potential to transform several areas of business management, medicine, data analytics, etc., and Watson is rightly indulged in doing these and more.
From digging out gold from humongous amounts of data- that no human could have imagined doing, to completely bringing in automation of sales processes through bots, and ML programs, AI is already significant to kickstarting the new-age sales process for any business.
Data is The Key – With AI at the steering wheel for driving Sales, data becomes the wheels on the ground. Without the right quality and amount of data, every Artificial Intelligence strategy comes to a standstill. A lot of data goes into teaching machines what decisions can be churned out of the data. The more data a company has, and the more relevant the data, the higher is the learning capabilities of their neural engines. These neural engines, when fed with the right data, spew the right insights. And here companies get their gold from their data. Sales operations include predictions of outcomes. Replacing the second-guessing altogether, AI is now leading sales reps to know the almost exact outcome of their sales processes even before a step has been taken towards implementation.
Fathom the Customer’s Behavior – With actionable data at the center of each AI strategy, companies are now predicting their customers’ feelings and tracking their behavior throughout the internet. These places can be social media platforms, forums, discussion threads, etc. Businesses are trying to read the nerve of their customers and leveraging deep learning algorithms for the same. Driven by advanced neural networks, these algorithms analyze information from voice commands given over a smartphone, photos and videos uploaded on the social networks, and the search engine requests. These algorithms have evolved quite a bit now and are helping sales reps learn about each and every move their users could make. They can, therefore, also reveal, the possibility of you purchasing a product or a service. Voila, this is what sales reps wanted all the while!
Sales Automation – Chatbots are getting programmed to reach the sales goals. They are here to automate the sales process and make it efficient and effective. ML bots go beyond the regular ones, to not only think of the right response for the customer but also base it on a vast expanse of data that the customer revealed somewhere on the internet. AI-enabled bots are reaching millions of customers all over the world, looking out for the right ones to contact for selling, and writing follow-up contact messages and emails. Bots are literally pacifying every use we humans had in the sales process. Saving employees’ time by almost 90 percent and leveling up the efficiency factors, these AI-backed processes are making sales reps more productive than ever before.
Helping Build Customer Experiences – Customer experiences are defining the winning or losing stakes for businesses. Driving user engagement across all channels of communication has become a precursor to selling them stuff. For a smarter and more efficient lead-generation process, machine intelligence can back sales reps up. By identifying the pain points of the customer, an AI-backed algorithm can create a comprehensive strategy for the sales reps, identifying the problems the customer may be facing. This analysis will also lead to a personalized experience for all customers. The right time of the day to talk to each customer can also be determined when the process has become smarter. Recent research has revealed that about 70% of customers are willing to pay a premium price for a brand that has a reputation for offering exceptional customer services. With the massive amount of data and AI’s processing capabilities, no dream is large enough for sales reps.
Digital Transformation – CRM adoptions rates have skyrocketed, thanks to AI. With this, there is an extensive need to bring in high-grade large-volume data that is relevant to the business. The most recommended place to store this data is a CRM software. With businesses moving towards digital transformation, there is a rapid increase in the adoption rate of CRM software. Businesses both large and small leverage these software solutions to streamline their business processes and reap benefits of AI. But, things need to get a bit honest with the use of CRM software. According to numbers, 88% of CRM users confess entering partial information into their systems. Data is what AI feeds on. When the data is incomplete, there is nothing that the system can do to bring exceptional results. But, digital transformation is the wave engulfing all, and the complete revamp of businesses in all industries is not a far-away reality!
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