Business Hack – Use AI to Boost Your Sales
At present, in at least one sales phase, over 30 percent of global businesses use AI. Along with CLV and a host of other sales-related metrics, AI algorithms boost an organization’s revenue forecasting.
As there is a large amount of incoming and outgoing data, AI is an effective solution: it is now being implemented in the form of conversational intelligence, predictive analytics, generating useful recommendations for reactivating prospects and optimizing the lifecycle of customers, generating selling signals, etc.
AI is developing rapidly and new insights are opened up through machine learning. Now we’re going to tell you the 7 key ways AI impacts sales positively.
AI Conversation Helps You Engage with Customers
Everyday prospect conversations provide useful information to improve the profits of the company; they can show the pain points of consumers, their desires, general objections, helpful suggestions, key rivals, and many more. It is simply physically impossible to analyze all of this knowledge rapidly and arrange it conveniently.
The intelligence of conversation (or simply “CI”) is a brand-new sales technology class. Sales representatives provide crucial AI-driven insights by recording, transcribing, and analyzing sales conversations. Sales teams receive an almost endless source of important information by implementing this technology without wasting time that could be better spent selling!
There are plenty of CI games, such as Gong, Chorus, or SalesLoft, for example. But you can pay attention to the Revenue Grid if you need a genuinely one-size-fits-all solution. It is the #1 guided-selling platform driven by AI that nudges sales teams to win more deals faster with clear and comprehensive guidance.
CI is the newest addition to the features collection of the product (Revenue Engage, Revenue Inbox (Salesforce Email Integration), and Revenue Guide) and is open to all customers of the platform instantly. More details can be found on https://revenuegrid.com/revenueinbox/.
CI tracks and analyses all customer calls made in GoToMeeting and Zoom applications by Revenue Grid, allows the sales teams to obtain unique insights from interactions and meetings, and helps to produce relevant sales signals based on these insights.
The conversational intelligence feature enables sales managers across the entire business to incorporate best practices in conversation efficiency. Sales members are willing to carry out a self-assessment of the calls they make and develop their conversational skills to win further sales.
AI Can Predict Future Sales
Companies that boast sales projections are 10% more likely to raise their revenue year-over-year and 7% more likely to meet the quota, according to Aberdeen Community reports.
AI allows companies to complete the following tasks effectively:
- Raising lead scoring;
- Improving closing rates for sales;
- Maximizing lifetime values for customers;
- Enhancing retention rates, etc.
AI uses predictive intelligence to incorporate data processing, statistics, and analytical modeling to forecast potential market performance graphically. Digital marketing capabilities have expanded with the emergence of machine learning and big data, and now practitioners can evaluate their results more specific and concentrate on particular areas of digital strategies.
Predictive analytics allows sales teams to draw leads with greater buying potential, develop demographic and behavioral data-based strategies, and maximize profitability through sales and cross-selling by providing the ability to analyze detailed insights into consumer preferences.
Artificial Intelligence Allows You to Segment Your Audience
AI and predictive analytics are now allowing marketers to define the right audience much quicker and more reliably, as well as making it much easier to find new segments of consumers that share similar attributes.
This facilitates the delivery of maximally personalized deals and the development of exclusive ties.
Ai also allows advertisers to anticipate what behavior a particular target group will take when a certain message is received and tailor it for the best performance.
Leveraging AI for more productive segmentation of audiences involves:
- Knowing who these people are and what topics they are interested in: taking stock of the target audience;
- Use Artificial Intelligence to more thoroughly examine the audience and expose new personas;
- Treating them as sub-segments, and sending customized messages directly to them.
AI Automatically Makes Recommendations for Prospects
For marketers to build value for consumers and stakeholders, AI-powered loyalty control and customer retention is a huge opportunity.
This refers in particular to distributors and suppliers whose networks are focused on direct consumer engagement, as well as companies with advanced customer interaction systems. Companies can gain information on how to bring inactive customers back by integrating data from different sources.
To effectively reactivate inactive customers, the key thing that needs to be done is to classify them based on a collection of certain requirements. There may be various selection criteria: the number of sales within a certain duration, opening letters, etc.
To classify these customers, AI selects the right combination of characteristics, allowing you to run sniper campaigns.
AI Determines Sell Signals
Marketers have gained a tremendous advantage with the dawn of the digital age: the opportunity to generate instant feedback in touch with prospects. This helps advertisers to evaluate their conduct and keep the prospects active.
For further research, predictive intelligence instruments help to collect all incoming data most conveniently in one location. It’s possible to be:
- Purchases history;
- Seasonal purchasing trends;
- patterns of purchasing sequence;
- logs of sales;
- website operations of customers;
- viewing of related goods;
- read reviews;
- questions in the chat
- Customer response to promotions and more.
Based on a variety of metrics, this AI function enables you to seize the right moment to sell.
AI Targets Customer Lifecycle Optimization
Each organization’s general objective is to establish a strong loyalty among its customers. Businesses need to recognize the phases of the consumer lifecycle and take action to provide them with a tailored engaging experience.
But, because it takes a massive amount of time and effort, it is difficult to do it manually. And that’s where Ai comes into play: businesses in different stages of the consumer lifecycle use AI’s infinite abilities to get maximum results. AI allows businesses to target their future buyers, build and maintain a tailored experience for them.
Studies show that 22% of marketers use AI-based software currently, while the other 57% expect to use it in the next 2 years.
AI Produces Personalized Content
Big engagement, conversion, and consumer loyalty are earned by organizations that produce valuable content. But today, no one knows exactly what content a certain potential customer wants to see, with all the visitors landing on the websites for just a moment.
Personalization tools for AI content serve the correct content at the right moment for specific consumers, based on the deals they were interested in before.
Advanced AI-powered software extracts helpful insights from enormous amounts of data and, based on its historical consumption of content, create forecasts on what type of content a returning website visitor is most likely to engage with.