Generating sales requires a lot of hard work and considerable time, as it involves researching potential clients, pitching your products/services to them and following up with them until the deal is closed.
Any kind of automation in the sales process will definitely help the salespeople close more deals and will allow you to grow your business faster. The recent advancements in Artificial Intelligence (AI), combined with big data analytics, assist in the sales process and increase the sales volume in a smarter and faster way.
According to a recent case study published in Harvard Business Review, Harley-Davidson increased its sales by 50% using AI. This is one of many examples of amazing results that can be achieved with AI.
Here are a few advantages that AI offers to businesses aiming to increase sales.
Predictive Analysis to Improve Pitches – AI helps pick up signals from the digital tracks out of the created data. It can help in analyzing consumer behaviors, and distinguish those that are looking to buy from those that are abandoning the cart. The sales personnel can use this information to target genuine buyers using personalized targeting techniques.
Identification of Opportunities –AI can identify clients that are running low on your product, allowing you to react promptly by increasing production or suggesting other products from your portfolio.
For example, by using AI, Amazon is able to detect customers’ buying patterns and foresee their needs. Uber has also adopted a similar strategy, whereby heat maps are analyzed for any patterns to help the drivers reach the right location at the right time.
High Quality Leads – A simple lead score in the traditional sales CRM does not mean that it is a prospective lead ready to be closed. Finalizing a sale may take months. But how do we know if a prospect is ready? This is possible with AI, as it allows you to observe the buying journey of a customer because you already know what your customer needs!
Increasing Productivity – None of us wish to work 24/7, but this is becoming necessary if you are to stay ahead in your business. This is where AI comes to the rescue, as it can analyze the data 24/7 and identify fresh & potential leads, allowing you to optimize your use of time by focusing on those ready to close the deal.
AI Is Your Reliable Assistant – Having an assistant allows you to focus on other areas of your business. AI can act as your digital assistant. Previously, CRM systems were used by the executives to record their sales data. However, every time you make an upgrade in the systems, you had to retrain the executives, which was both time consuming and expensive. In addition, as sales people are not very good at data entry, potential for errors was immense.
According to Olin Hyde, CEO and founder of LeadCrunch, “AI creates superhuman salespeople. They cannot be replaced by a machine, but a machine can certainly make them smarter and stronger.”
With AI, you have voice-controlled digital sales assistants that allow your executives record the information from any device. They also provide the executives with the required information.
AI is quickly becoming ubiquitous and is sure to improve our lives. However, AI cannot replace humans in all aspects of their work. Rather, it helps businesses to augment their presence and upsurge sales by offering effective sales solutions. AI is not limited to Tesla or Siri either; it is slowly capturing our daily space, and has the ability to improve our productivity. Employ AI and stay ahead of competition!
Author Bio –
The author of this blog, Duhane Williams, offers proven success in accelerating brand growth, cultivating and developing new markets, and obtaining optimal levels of brand awareness in highly competitive market segments. He is keen to explore new opportunities too. Visit https://www.venttraffic.com to read more.
