The concept of artificial intelligence (AI) spells endless possibilities for industries and companies to develop compelling products and services and improve customer experience by leaps and bounds.
According to a study by PwC research, AI can see investments up to $15.7 trillion by 2030.
With a continuous influx of funds in the AI space across B2B industries, AI applications are set to redefine dimensions.
We are already seeing AI becoming an integral part of everyday life. Companies need to automate manual and repetitive processes and expand the learning to transform the customer experience.
With AI’s successful integration across crucial business functions, you can make internal processes efficient and raise profitability.
Sales and marketing have recently seen a surge in its usage due to its inherent benefits. According to a study by Harvard Business Review, companies using AI for sales increased their leads by more than 50 percent, reduced call time by 60–70 percent, and realized cost reductions of 40–60 percent.
Nevertheless, the onus is on the leaders and the decision-makers alike to ensure AI and sales integration produce the sales intelligence to trigger exponential business growth.
The use of sales intelligence is most effective for prospect identification and discovery of game-changing insights to enable personalized offerings.
With AI, nail the vital information on key decision-makers, understand a company’s organizational structure, budgets, tech stacks, and personnel movement in real-time.
Understand the customers: Persona (firmographic, environmental, and behavioral attributes of accounts) related information.
- The Right Language: Speak in the style the customer understands.
- The Right Place: What channels to use to influence customer purchase behavior?
- The Right Time: Does he need the product now? At what time of the day is the customer the most receptive to the product pitch?
You can reach the perfect conclusions when deciding on the above aspects if sales and marketing work together towards a single objective.
Lead generation technology has made much progress. Most people are delighted to experience a high level of personalization as they browse the web and the emails that reach the inbox. An amalgam of AI and marketing technology makes this personalization possible.
Personalized messages or targeting builds an emotional connection with customers. It also cuts down on the effort and time required for enabling the customization for the prospect identified.
As AI evolves, it will push the boundaries of sales and marketing.
Here are some ways that artificial intelligence technology is revolutionizing sales and marketing globally.
Unifies Sales and Marketing Goals
Sales and marketing have been working in individual silos of CRM and Marketing Automation, which lead to a conflict of interest. It was mammoth of a task to make sales and marketing see through the same lens. As soon as AI came into the picture, it became easy to neutralize the issue and share information in real-time across teams. AI helps organizations identify and build models that contribute immensely to business goals attainment.
Strengthens Sales and Marketing through Predictive Analytics
Predictive analytics enable marketers to consistently exceed shared organizational goals by 1.8 times, as they leverage AI’s capability to predict customer behaviors. AI helps in choosing the right target audiences and formulate effective strategies quickly and accurately. Data no more becomes a liability. The frequent flow of customer data through AI will enable the creation of accurate customer profiles that can provide insights into the different patterns of customer behavior.
Extends Reach to Intent Prospects
Businesses have their contact databases created through different sources. It is difficult for any salesperson to look at contact and say with 100% assurance that the specific lead will convert to sales. However, AI can help extend reach to the intent prospects or qualified leads that simplify the sales conversion process. With this, the sales teams can focus efforts on these contacts while marketing can create targeted campaigns.
Enables Accurate Prospect Understanding
The most significant thing that brings humans together is the emotional connection, which is quite impossible between machines and humans. With AI, one can understand prospect behavior regardless of geographical challenges.
Reduces Cost and Increases Profitability
Reach millions of customers with AI-controlled bots that bring the right contacts to your fingertips and empower your sales team to design personalized email campaigns that are way more effective! Besides, automate the entire sales sequence.
Intelligent solutions powered by AI significantly minimize marketing expenses enabling small and medium-sized businesses (SMBs) to compete with the big players with enormous budgets.
The Right CRM integration and smart deduplication functions allow mid-tier companies to reduce workload by up to 90 percent and efficiently use resources and employees’ time.