Artificial Intelligence has been a buzz around software development companies. Whether you type a query on Google or park your vehicle, one or the other way, Artificial Intelligence comes to play.
No matter what industry you are in, it continues to be the most powerful driver for all the niches. Businesses prefer using AI to enhance the sales enablement strategy, streamline the processes, and improve the bottom line.
As per the McKinsey report, machine learning in sales and marketing allows them to close deals and make robust connections. There is 50% more sales, and the call time reduces to 70% with AI.
But the question arises, what role does AI play in sales and marketing? Let us dig deeper and know the role of AI in sales and how it continuously changes customer-facing roles.
What is AI’s potential in Sales?
AI is a shield that covers several technologies like machine learning, natural language processing, and more. Whether it is following up on the customers or sending reminders without human intervention, AI has made it all possible.
AI has a plethora of roles to play. As per research by Salesforce, high-performing teams use AI almost 4.9 times more than the teams that aren't performing well.
AI predicts customer behavior, sales forecasting and recommends the team to take the best action. It ultimately removes the guesswork. Research says that 88% of the chief sales officers have already invested or are considering investing in AI analytics tools and technologies. AI is slowly and steadily replacing the sales representatives and helps them with:
1. It automates repetitive tasks or complicated jobs that do not need personal relationships, like sale forecasting.
2. It allows them to prioritize the key points and help salespeople provide better services, as AI helps them analyze the pattern in customer response.
3. It gives businesses in-depth details and analytics reports on the communication between salesperson and customer.
AI allow businesses to leverage the most out of it. It helps automate processes of the sales and can even handle the most complicated problems, giving users a personal touch. The graph represents the Artificial Intelligence market size in the Asia Pacific region.
How can businesses leverage AI to bolster sales?
AI is the key that can optimize a whole range of sales enablement activities and processes. Let’s find out and discuss all the use cases for Artificial Intelligence in sales enablement:
1. Predictive forecasting
AI helps businesses to accurately get a sales forecast based on customer contact and sales made previously. Humans can predict the sales number, but AI can help them get accurate results. It allows business leaders to make informed decisions. For example, if you can track the busiest time in the call center, it will help you with future staffing.
2. Automated sales activities
There are areas in sales where AI assistance helps boost sales. So all the simple activities where there is no need for relationship-building are automated. A few of them are,
- Sales data input automation
AI synchronizes data from different sources to your CRM.
- Sales rep response suggestions
AI offers automated suggestions and messages during your conversations with customers.
- Meeting setup automation
AI offers digital assistance and helps set up meetings, freeing your sales reps time.
- Sales representative chat
Research says that chatbots boost sales by 67% on average. A sales chatbot allows sending personalized messages, making customer engagement easier.
3. Price optimization
With the machine learning-based pricing tools, businesses can gather the competitor's data and get recommendations on the pricing information. AI uses algorithms to check for the pricing and provide an optimal price proposal.
4. Sales attribution
Businesses need to track and measure attribution. It helps you target future efforts in the right places. Therefore, AI uses big data to display results accurately.
5. Performance management and enhancement
Even though you have the perfect sales representatives, there is still a need for training to stay updated with the latest technologies. AI has essential tools that allow managers to track performance in real-time.
Are you ready to boost your sales with AI?
The business and sales paradigm is continuously changing. The future of sales focuses on minimizing automated and repetitive tasks while satisfying the customers.
Are you ready to adapt the AI strategy and redefine sales enablement? Drop us a line, and we would be glad to help you!