The role of Artificial Intelligence will be increasingly important in the Sales Sector
One of the biggest implementations is taking place in CRMs, the very system that facilitates sales but is often not optimized enough to do so independently. Thanks to the combination of CRM and Artificial Intelligence, in the near future we will see these transformations where they are most impactful and able to change the way we are used to looking at a CRM.
CRM and Artificial Intelligence: the future of business
Artificial Intelligence is already apart of our daily lives. Siri, Google Home, Alexa, are in our hands and in our homes. Our choices of purchase, listening, and viewing, are all guided by the recommendations we receive from services such as Netflix, Youtube or other social networks, the algorithms behind these types of media, suggests to the user what they want to see and is a large resource that guarantees a perception of quality in service provided by the company.
The use of CRM’s is also changing, especially because companies have understood that consumer rapport can only be created through the understanding of their needs and the closure of sales depends on the ability to analyze the information we have about them.
Carrying out this process without having quality software that is up to date and in trend can be difficult and expensive; this is where the integration between Artificial Intelligence and CRM becomes of interest that not only brings efficiency in the short term, but will also allow the support of a more prosperous future of data to be processed.
Companies often find themselves collecting and saving new information about their users. Collecting all of this data and knowing how to make the most of it can make the difference between a closed sale and a lost one, because that kind of data is essential to intercept the user at the right time.
With the support of Artificial Intelligence, an updated version of CRM can be the solution to what all companies are in search for: a data management system, that gives quick and useful answers to the business.
The 4 transformations of CRM thanks to Artificial Intelligence
1- The data
Artificial Intelligence has the ability to improve – but not replace – the human part of sales. Sales agents of the future will use AI as a means to improve their work, connecting with the right customers and generating valuable conversations.
According to recent studies, the insertion and retrieval of data from a CRM, can take up to 17% of a vendor’s work time, almost an entire working day in a week. By integrating Artificial Intelligence, not only will this task no longer be necessary, but the possibilities that come with new technology will also increase. Including the ability to centralize different databases of consumers and consequently understand the lifestyle of a customer by combining the data of various resources from which a contact has started: via email, telephone conversations, chatbots…
Typically the teleselling operator of a company, when receiving a phone call must extract data from the CRM, check the history of customer information, then decide if he can sell an additional package. Which he can loose a lot of time doing.
With BigProfiles AI Platform, artificial intelligence can do this process and give the operator the probability that the user will buy the service or product that they are proposing, so the seller can focus on the simple sales activity to reach the target set by the company.
AI today, is able to transcribe entire conversations, tag issues of business interest and manage plans. This means that when data is entered into a CRM it’s possible to easily navigate this information. For example knowing the most frequent objections, comparing specific data with those of competition, highlighting the right words to be said and those to avoid based on a certain contact.
2- Data Integrity
CRMs are often full of dirty data. According to research by Dun & Bradstreet, 91% of the data in CRMs are incomplete with 18% duplicates. This is a very serious problem and is often underestimated. The efficiency of AI is directly proportional to the accuracy of the data that is provided to it, and it is difficult to imagine how humans can maintain a certain level of precision and attention in their management. Especially if it is expected that by 2025 there will be 180 zettabytes of data created every year (we are talking about 1021).
Soon it will be impossible to manage all of this data properly and this obviously makes it necessary to implement an automated system capable of displaying irregularities, anomalies, duplicates and other errors that can compromise CRM data, as well as customer relationships. By integrating data from third parties, Artificial Intelligence is also able to fill in missing information and update real-time situations such as contacts or other data changes. BigProfiles AI Platform draws on many up-to-date databases of authoritative sources to improve the quality of its predictions.
3- Predictive Lead Scoring
A top priority for most companies is to convert leads into consumers. Until recently most sales employees have relied on lead scoring based on certain rules: according to a certain set of predefined characteristics, a score was given to each lead manually.
As technology, online activities and data production advance, it’s difficult to see this system as the only efficient one. Therefore, we want to start a discussion about predictive lead scoring: facilitated by Artificial Intelligence that can analyze thousands of different attributes and in real time, including demographic, geographical data, online behaviors, it is possible to predict the user’s purchasing behavior.
Integrated into a CRM, this AI can calculate losses and gains, highlight trends and anticipate lead actions. This process is also able to improve with time: the more data is provided, the more trend analysis you will have and the more accurate the predictions will become.
4- From data collector to “consultant”
CRMs have always been seen as data collectors. By implementing an Artificial Intelligence within them, the role of this software is transformed: from a simple list to a reliable resource of advice. Based on the relevant data found on the CRM, Artificial Intelligence can offer sellers specific recommendations, which allow them to customize their sales methods, even based on a specific period over time.
The last but not least important favorable part of enriching a CRM that has always been part of the company’s history but that today can change it’s role is that. It can make a huge leap in performance quality, and be a way to quickly earn the trust of consumers.
The implementation of Artificial Intelligence in CRM allows the company to increase the efficiency of the sales force. This is because AI takes charge of the set of manual tasks and workflows that have so far stolen time from the most important work activities. Through clean data, and more complex and automated processes, sellers will be able to invest all resources in the right direction, and convert leads into sales.
With AI it is easier to identify the users who are worthwhile, the right time to contact them, on what data to base our conversation. With all this information available, we can go back to working on the human part of sales and start a conversation with the consumer that is based only on the total understanding of their needs.
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