Many companies are preparing themselves for the upcoming new technology and using it in their business ventures. They are excited to see how AI can help them to thrive better. But along with the excitement comes nervousness and a lot of questions. Can AI really help your business to soar higher? How can it help with sales, and what it can do? These are some of the many questions that come to one mind while looking to adopt new things. It’s fairly important, but it is also necessary to look out for the answers to these questions so you can work better and prepare yourself for the better.
Generally, sales are traditional work done by the salesperson. It’s a people-to-people business, but with AI in the picture sales has an edge by combining human-to-human interaction using sales intelligence software for making the conversation much more interactive with chances of growing the organization’s revenue, technology is also playing its role here.
Because of AI, automation has started influencing sales, which only seems to continue to grow. Companies are looking forward to transforming their solutions with AI to impact their customers profoundly.
AI in sales: what does that mean?
Using AI in sales is a part of modern technologies meaning to take machine help to carry out the duties more effectively as it helps to make a difference in the industry and target market by selling versus competitors who are already established in the industry and by using AI sales tools such as salesken the chances of winning over them is much easier.
You can use a whole range of machines that can directly influence your sales career. If you know how to use AI in sales wisely, then your performance can improve at a great rate.
Usually, the techniques used by AI for sales predict the leads that prospects want to buy. AI can help you keep track of your sales performance and adjust the pricing of products according to the latest market trends.
Why is automation needed in sales?
The sales industry was slow to adapt to new changes in AI and automation. However, marketers adapted to the changes quickly. Like, JPMorgan used marketing language software powered by machine learning, which helped them to increase headline clicks up to 450%.
According to Salesforce’s new State of Service report, more than half of the companies will be adding chatbots in their strategies in the next one and a half years.
This is enough to show how AI can impact the sales industry.
According to the Salesforce State of Sales report, only 46% of salespeople have access to company and client’s data reports (which about 85% of sales managers mentioned helping them produce).
Marketing and sales departments always have different approaches to the same problem. But it’s now time to adopt some new techniques for the sales department.
According to Gartner’s research, 70% of customer experiences will involve new technologies in the next three years. And the sales department that will use AI in their work will have the upper hand in the near future.
How can AI be used for sales?
AI has become an essential part of any business to achieve their goals and to automate their systems. Some of the benefits of using AI in sales are:
AI lets you create a business strategy development plan
Using AI in sales can help you to focus on creating business strategies to generate more leads. AI can handle all of the time-consuming and repetitive work that allows you to spend more time creating strategies.
AI can handle:
- Creating customer profiles
- Data consolidation
- Sending the next-step content to leads
- Creating and prioritizing content for qualified leads for the next step
With all these takes handed over by AI, you can have more time to develop strategies that are focused on improving customer experience leading to more profit.
AI increases the chance of finding more leads
Doing research, finding every important information of the client is time-consuming. And the same is qualifying them and following up with them to create a strong bond.
Using AI in sales handles some of these tasks and can help to deliver fast results. Also, you can find more leads as AI allows you to reach out to the particular person to whom you want to connect to secure leads.
AI reduces extra costs
AI automates all the low-cost level sales activities. This reduces the cost as you can use the tools to do the specific work for you. Your time and energy is saved, which can be focused on doing other important tasks.
You can easily up-sell and cross-sell
With AI, sales reps can better position themselves to identify the targeted prospects who have more chances to secure a deal. Sales reps can also use AI to determine when there are more chances to make a sale.
How can AI help you to increase sales?
When AI is used for sales, it analyzes and points out different patterns that help a salesperson determine leads that are much likely to convert into clients. These leads can be easily converted into prospects; thus, you have to spend less time on them to close a deal.
AI can also figure out different action patterns based on the data point to create a more predictable outcome. Those who use AI for sales are more likely to bring profits and more deals.
With all this information in hand, a salesperson can use their position as decision-makers to study their closed deals, identify the lost ones, figure out what went wrong and how it can be rectified. If used wisely, AI for sales can recommend some great leads and techniques which you can use to secure the collected leads.
Future of AI: What does it look like?
It can take a long time to use the full potential of AI, but we are already on the way to use the technology in modern sales operations.
Many companies are already using modern technology. About 90% of people who use AI are already using or planning to use AI for sales forecasting and email marketing.
In 2020, there was a 155% increase in the use of AI by the sales team, which is more likely to keep increasing in 2021.
However, there are some limits to AI.
Usually, on the enterprise level, salespeople have to understand their company, their buyer, their product, their market at a deep level.
They should have the skills to pull data from different sources, analyze it, summarize it so that others can understand who don’t have much knowledge about it. And this couldn’t be done by AI alone. In sales, AI can handle tasks at a basic level. It still requires basic functional knowledge of the product, problem-solving skills, and communication skills which AI cannot replace.
The form of sales job might have changed, but the responsibilities are the same. Earlier it was used for door-to-door sales, which is now done on websites and chatbots, and it will continue to evolve more.
AI will handle the essential things. But the more complex things like forming human relations, complex problem-solving, and strategic conversations will be made by the sales reps. Most of the sales roles will focus on developing human relationships and connections. The focus will shift towards guiding people who are wary of technology or where the sales apparatus is more complex. Hence, in the future, sales jobs will require a deeper level of understanding of customers and dynamics.