It wasn’t enough that technologies became so smart they made some of us feel less “clever” in our everyday life. Now they came to invade our working environment and our productivity with their intelligence as well. Artificial Intelligence is the buzz in pretty much every industry. But of course what interests us more is AI’s contribution to sales and marketing and their results.
Currently the B2B sales world knows they need to incorporate AI into their sales process. In the 2017 Economist Intelligence Unit report, Artificial Intelligence in the Real World, it was stated that 17% out of 200 executives said that AI will increase sales revenue. But then again, how can something that is itself called “artificial” benefit your company’s sales? Let’s figure that out.
1. More focused targeting
You create the product and you know you want to sell it to people. You also have some idea about who your target market should be. So there goes your attempt at trying to sell your product to a less focused target group, which ends up leaving your sales reps a little confused and upset about why not all the deals closed and how to make it all right. Well, AI is gladly here to help sales teams do an even better targeting of who they are selling and who is going to buy it. How? A number of AI software solutions are collecting and analyzing data based on the prospects that converted and your existing customers. Meaning, such software solutions analyze your current customer profiles, their company size, staff, revenues, etc, and give you suggestions on new leads based on those observations. Targeted, time consuming and effective.
2. Predictive selling
Forecasting is naturally a very important aspect of sales. You have to predict your sales volume, the number of conversions and who will likely come back to you.
Predictive AI driven data is analyzing prospect’s behavior during the entire sales cycle to predict what they will do in the future. The gathered data helps forecast their moves: will they convert and close the deal? How long before they do it? What are the products they will want to purchase? Either way, any information and thorough insight that helps understand your prospect’s actions and their future character is a treasure AI kindly grants you with to improve and increase your sales.
3. Easier scheduled meetings
The more leads you generate, the busier you get with the number of them to work with and the less time you have left for it. How generous of technological advancements to give sales reps the ease of scheduling meetings with the prospects in an automated way? There are a number of software solutions that connect to your calendar, track what you have to do and what not, and automatically schedule meetings with prospects that would be best suitable for both parties.
These are only a few of the very many ways that AI can help your sales. Artificial intelligence is a helping hand for the sales and marketing processes. In fact, according to Narrative Science, 80% of executive noticed that AI increased the productivity of their workers. So, the buzz is getting so big nowadays, that everyone knows they have to get their hands on it as soon as possible. Easier process, higher ROIs, shorter sales cycles, more tailored pitching, accurate sales forecasting and would you be the one willing to miss out on all of this? I highly doubt it.
Contributed by: Maria Harutyunyan, content coordinator at Contiq.com – artificial intelligence driven software for enterprise sales and marketing teams.
Sign up for the free insideBIGDATA newsletter.