Artificial Intelligence or AI is a cutting edge technology that makes light the challenges faced by salespersons by automating the time-consuming admin workloads to make time for all-important human connections once you by a business growth technology solution like an easy to use CRM for revenue growth.
It is said by many sales gurus across the world who are veteran weather-beaten professionals that even the best sales teams in any organization across the globe can have their performance further improved by using AI, and so this year and in the days to come, AI-powered tools are set to become increasingly important and critical to any organization’s success.
We say this because in a study conducted by McKinsey, (an American worldwide management consulting firm) it has been revealed that businesses and organizations that use this technology in the next 5 to 7 years will amplify their cash flow by more than even 120 percent by the year 2030, while companies that do not use AI will instead observe a cash drop by 23 percent over the same period.
Therefore it is also predicted that viewing the stats published by McKinsey there will be a 155 percent boost in AI adoption by businesses over the next 2 years with 54 percent of sales reps expected to use AI by 2020.
However, unfortunately despite all these predictions, it has been observed that only 21 percent of sales leaders say that their companies use AI today when in reality it is the right time when best teams in sales must improve every facet of the sales cycle with AI-informed automation and insights for business growth.
Hence in this article let us look into key five ways sales teams can use AI to boost their performance once it is integrated with business growth technology and tools for increasing sales and revenue growth.
AI in 2020 can be utilized to:
• Identify health of your opportunities
• Make your leads count
• Never let the emails that matter fall through the crack
• Seek out strategic contacts from your CRM database
• Make trustable forecast (one that can be relied upon)
1. Make your leads count
Although you may think that an over-abundance of leads can mostly feel like too much of a good thing, however, if your salespersons do not have to sort and prioritize them, it is natural that you could be losing more selling opportunities than it should be gaining once you do not introduce AI to your sales teams.
This is because, in research recently conducted by a pioneering CRM firm, it has been found that high-performing sales teams are 1.6 times more likely than underperforms to prioritize leads stored in their easy to use CRM based on data analysis, and so are half as likely to prioritize their leads based on intuitions.
High performing teams rely on AI as it is one of the most cutting-edge technological advancements that can analyze historical data found in the CRM database to reveal what the best leads for your brand look like so that your sales teams can focus their efforts on the leads that are most likely to convert.
Hence, both for large enterprises that use robust CRM software platforms and even for SMB organizations that rely on adopting Salesforce Alternative CRM platforms for growth the patterns and characteristics detected by Artificial Intelligence are more sophisticated and focused that the traditional and habitual simple criteria used for rating lead stored inside the software, which results in lead conversion in less time and ensures sales productivity at its best.
2. Identify Health Of Your Opportunities
AI is a technology that even helps to flag which are the opportunities in the sales pipeline that requires immediate attention and which are the ones that are tracking along well and are expected to reach a successful conclusion.
Accepting the pressure that sales reps face on day to day basis in order to manage a multitude of opportunities concurrently, this type of AI-based analysis is a timesaver as well as a big shortcut in selling to high-performance teams.
AI, when integrated into CRM, can not only analyze the salient and critical attributes of an opportunity but it can also help your sales teams to compare them with other common winning attributes for closing the deals.
Think of this as a very detailed and comprehensive checklist of criteria, one that most sales teams do not have the resource to come up, let alone execute the same at speed.
These criteria, for example, might include engagement frequency of any lead, whereby the AI-integrated CRM software might highlight that accounts whose engagement levels are deteriorating below three to five times per fortnight and are hence less likely to see through a deal.
Therefore, where in an organization a sales rep managing more than fifty opportunities at the same time has very little chance of realizing this, bringing in AI onboard ensures a powerful way of identifying these small but important signals and act on them instantly for sales growth.
3. View The Emails That Matter
AI is a technology that can also identify and prioritize the most vital communications to a very high level of detail.
For example, if your sales reps need to know when a new pricing is addressed but unfortunately do not have the time to rummage through a plethora of emails to find where it is addressed, AI can simply take care of such issues or find out when a new executive’s name is mentioned in an email thread.
4. Seek Out Strategic Contacts
All successful sales reps acknowledge that a warm introduction to a key contact in an account can be the beginning of a lucrative and beautiful relationship. However, those golden introductions can be hard to come.
Luckily, Ai-based technology when integrated into a CRM can help find colleagues who have an existing relationship with the key contacts.
Hence, AI makes it easy to find such colleagues and provides the sales reps with the advantage of getting the reference on the contact before the introduction is made, which reinforces as a perfect example of cutting-edge technology working to enable the human touch that is still so crucial for the success of sales.
5. Make your sales forecast one can trust
Finally, forecasting accurately is a perfect job for AI, since it is capable of decoding the tendencies that exist in the sales cycle of each and every salesperson in your team.
Therefore, if you are over and under committing, or if your sales reps are underestimating or overestimating their selling abilities, AI’s predictive capabilities can easily help them where their forecasts will land by anticipating and revealing the determining factors that take part in the prediction, which even includes personal forecasting propensities across each sales reps.
Hence to conclude, even though according to research only 34 percent of leaders in sales presently leverage intelligent sales forecasting, 90 percent of those that do use it say that AI really helps them to do their job more effectively as it can deliver insights, predictions and even recommendations that will help their teams to excel at their work, and AI when integrated into a business growth technology like a CRM is one of the most effective means to boost the production of any sales team.