27 Jun Importance of AI in sales and service
Artificial intelligence has become a pivotal part in business strategies of all kinds of companies. Companies are dedicating huge budget of time and resources to the research and development of AI in sales and services technologies to produce strategies based on customisation and big data.
In the context of today’s business sales, the importance of AI in sales and services is not just for huge companies but for all kinds and sizes of companies throughout the sales cycle. Tech companies with farsightedness are offering automated solutions to a variety of industries like hospitality to medicine to all kinds of retailers and beyond. These companies are capable of handling tasks that earlier used to occupy time and slow down the sales cycle, for instance, basic online chatting with customers, managing and interpreting huge amounts of data in databases, and recommending next steps in sales, etc.
AI collects, filters, and organises data, parallelly adjusting its approach to the data, and making this data more accessible. Sales AI has the capacity to utilise more data than a huge team of analysts could manage and achieve more effective, continuously evolving results.
Sales reps are left lose to use the insights picked out from AI to put a human touch on sales communications with specific leads and to close deals, all at their fingertips. Companies who use artificial intelligence software use it at every stage of the sales cycle from lead generation, scoring and nurturing to sales forecasting and activity logging to closing deals.
AI and Leads:
The traditional way of lead generation and qualification has been a time-consuming and cumbersome process for sales teams. It is stated that sales reps would normally spend 80% of their time qualifying leads and only 20% were able to close deals. Sales AI can become a game-changer and flip these percentages around. AI software can take the burden of qualifying leads, using dynamic information and multifaceted analysis to create a more complete, real-time picture of a lead.
This way sales reps get to add their human touch to the sales pitch and also get ample time to nurturing the most promising prospective clients and customers.
AI, Activity Management and Forecasting of Sales:
AI products continue to aid your sales team in a variety of ways even after you have identified promising leads by helping in forecasting as well as compile the data your company has, by gathering news in real time
Based on a variety of factors like buying, shifts in the customer’s own company structure, such as a merger or the dismissal of a top manager and most importantly it gives you the data of what and when are your leads and current customers most likely to buy?
Streamlining communication within your company through AI:
With AI software, team members from all departments can run weekly reports without any hassle. They will also have access to real-time analytics and information. This puts marketing and sales in a better position to coordinate their efforts, and close deals efficiently and effortlessly.
AI gives a facelift to sales activity:
To get a more comprehensive image of the customer’s journey, sales AI can collate information on CRM, sales team communications with customers, analytics data and track KPIs. AI software can even recommend what action sales reps should take next.
AI and Closing Deals:
AI software accumulates, compiles and analyses data about your leads and sales activities from the start to right throughout pitching to a customer. But there are a few questions that you must ask yourself, what about after the pitch? What do you need to keep in mind before closing the deal? And what kind of response you need to give when a deal doesn’t materialise? As it turns out, Sales AI comes to the rescue and gives you the ongoing insights about when and why the customer is likely to make a deal, and what holds them back. AI also scans through our communications, as well as industry insights, comparable companies or clients, and business news.
AI and CRM:
Once a relationship has been formed with a customer, sales AI continues to help your sales team nurture the customer relationship by using solid data and streamlined communications. AI chatbots will be able to produce impressive results, offer customers quick and individualized answers. These responses will not just be canned responses, but intelligently constructed communication informed by customer data. AI customer service allows companies to meet customers at a greater number of touch points on their customer journey.
AI and Sales Going Forward:
Sales AI clearly has reshaped the sales cycle, and AI software will definitely take over some tasks from sales teams permanently. Going forward, the sales reps will need to understand sales AI and how to maximise the efficiency of their interactions with AI software to achieve results. O understand which parts of the process should be automated or how they can get the right data into the hands of their new AI assistants? These are the kinds of questions that would want future sales teams to be creative and insightful enough to answer.