With ever-increasing competition, high mobility and connectivity and changing expectations of customers, focusing on CRM is an integral aspect of companies worldwide. Rather than offering a good product, managing crisis situations and thinking about customer satisfaction, care, and loyalty have become priorities.
Artificial intelligence is a real and gradually dominating the technology. This problem-solving solution is aimed at simplifying our lives and increasing efficiency of business operations. It can play a crucial role in managing big data and streamlining labor-intensive activities. Innovative companies have started implementing AI backed solutions to improve customer experiences. Cloud-based CRM is gaining prominence whereas machine learning and AI (artificial intelligence) technologies have started getting into the daily routine of sales people.
The key role of AI is to boost the human capabilities. AI when implemented to sales arms the sales team to know customers, work more efficiently and accomplish better results. As mundane tasks are reduced and sales team can spare time to focus on relationship building.
CRM with AI platform could change the way you make sales and it depends on 3 things-
- The Right Data –It is essential to ensure that AI solutions learn the right things. In other words, the focus should be on data analysis and understanding its importance in the decision-making process. Sales data may vary business to business but in general may comprise of the commissions’ data on sales behaviors, demographics of the customers and prospects from CRM, contract information, content usage in sales enablement systems, customer support inputs, feedback and customer experience inputs from monitoring tools, and lots more.
- The Right Format –
- next point is to make sure that data is in a format that can get into the AI system automatically and with minimum human intervention.
- The Right Commitment –
- This is a continuous process, as products, services, customers, market and business data is going to evolve continually. Therefore, the team managing this early work needs to oversee even after the system is in place. Adjustments will be required in due course to keep the system away from sliding into obsolescence.
Some tools embedded with CRM (the Salesforce way) will completely transform the seller experience. AI has already started redefining the vendor dynamics. Being close to the source, it is easier to calculate the ROI instantly. CRM with AI has furthered the advancement of human and social capabilities to teach, decide, inspire, collaborate and convince in sales.
How can CRM with AI spell benefits for companies?
- Analyze and transcribe sales calls
- Understanding the customer and optimize phone conversation
- Improve sales intelligence.
- Engage and follow-up with leads through emails
- Recommend best responses by identifying the support tickets
- Smart customer self-service will let you reduce the ticket volume
- For account-based sales and marketing, dive deeper into the social media and industry data
- With the help of a digital service agent, automate the operations of the service desk
- With the help of speech analytics, reduce escalations by predicting caller’s intent
- Natural language generation enables fast content production
- Increase ROI on account-based marketing by effective fund allocation.
Let us see the impact of CRM with AI on Sales:
- Decision Making- Machine learning is the core of AI. It keeps learning from CRM big data to produce all intelligent insights that assist in making right decisions promptly.
- Email Marketing Campaign- Natural language processing is a valuable application of machine learning. It is utilized to interpret emails, classify them by intent, categorize emails that need to be replied and auto draft the response. This makes the task of handling customer emails easy and effective. AI also helps categorize high priority emails, emails that need to be replied and emails that need action from your side.
- Quick Response- The system recommends best possible time to engage customers and the best channel to communicate where the response rate is high by analyzing the customer engagement patterns using predictive analytics.
- Automate Lead Allocation- Leads Prioritize- the system makes use of Innovative scoring methods including Fruition scoring, Engagement scoring and Ideal profile scoring to position the leads on the basis of engagement behavior, likelihood to win and profitability. In this way, prioritizing leads and focusing efforts on high-value and sales ready opportunities becomes easy, which in turn helps to grow sales.
- Improve Sales Productivity- The system automatically adopts the correct process for each customer and deal. This drives the sales reps to act upon next best strategic step to drive the customer effectively to next level of the sales cycle.
Certainly, it is worth considering the opportunities offered by AI integrated CRM. Enterprise sales and marketing teams can anticipate dramatic changes in the overall efficacy. Furthermore, CRM with AI makes it possible for businesses to prioritize audiences and notifying them about the prospects having the greatest propensity to make a purchase. The AI will help leverage a competitive business advantage. Get ready to maximize the benefit now.