Artificial intelligence (AI) is increasingly involved in every industry and aspect of our lives. In most cases, we have not yet reached the widely discussed point where AI is replacing humans, but it is helping a lot of companies across a broad cross-section of industries accomplish tasks more efficiently and effectively.
How AI can help with sales is less defined. Many feel that AI tools will speed up sales processes and help sales teams stay ahead of the game. How? The best way to improve sales is by gathering data to analyze and take data-driven decisions, and that’s what AI all about. Here are some different ways that AI can help you grow your business by increasing sales.
1. AI can help get better leads.
Possible leads are found using platforms such as Google or LinkedIn; when AI is involved, it can cross-reference the data you collect against many other sources so you get the most accurate data for your business. Your reps will be able to follow up more accurately and their close ratios will improve because they’re working with better data.
2. Predictive analysis improves pitches.
An AI system allows you to build customer profiles that are segregated by behavior and their habits. This additional information helps your sales system more accurately predict what customers need or may wish to buy.
3. Better upsell opportunities.
Businesses must be able to balance getting new sales while still retaining their current customers so they can keep growing. AI can help salespeople figure out when customers should be buying again and how they can use a product. For example, Amazon uses AI to figure out customer buying patterns and anticipate the needs of their clients before they even arise. Uber is doing similar things by using heat maps and AI to get their drivers in the right areas at the right times.
4. AI works around the clock.
Because the business world is so fast-paced, those companies that can work all day and night are more likely to stay ahead of their competitors. AI can tackle some of the work you need done 24/7 while you spend your time guiding reps and helping them make the final call on key decisions.
5. AI is a great digital assistant.
To be more productive, have AI become your digital assistant. You can use AI as voice-controlled digital sales assistants so that your sales reps can record key information on any of their devices, day and night. These assistants can also ask key questions and help your sales reps get through the process in the right way. While your sales reps can focus on key conversations and conversions, AI assistants can do crucial data entry.
Many businesses have fully embraced the developments that AI has given the sales industry, while others are concerned and anxious about the changes it’s bringing. The good thing about AI is that it can help businesses boost their presence and improve sales.
Michael Dehoyos, a content marketer and editor with PhD Kingdom and Academic Brits, helps companies create better marketing and sales conversion strategies.