Artificial Intelligence has already proven its transformative capability across diverse industries. Its impact on sales and marketing strategies promises to be optimistic. Both functional areas have been witnessed the rise of innovation in the last few years. By harnessing the power of AI, brands can improve decision-making and leave more resources for high-level human touch.
AI-enabled technologies are becoming more prevalent in almost every sector. Technologies like machine learning and natural language processing (NLP) that not only automate repeatable and tedious tasks but also learn from exceptions in a process. As enterprises are unleashing the influential role of AI in sales and marketing, it is also drawing a significant impact on customers experience and their journey.
Let’s have a look at how AI is making big changes in sales and marketing experiences in the modern business landscape.
Improves Personalized Customer Experiences
AI has the potential to understand customers, regardless of differences with accents and dialects, geographies and more. As AI holds enormous promises in terms of time and cost savings, it can also be effective in enhancing customer experiences. It removes the need to wait on hold for the next available agent to assist customers with a simple problem like bill, product, or services. Artificial intelligence has transformed all the things by enabling businesses to leverage chatbots and virtual assistants to answer common customer service queries, allowing customers to get in and out in a moment.
Helps Close More Leads
AI is able to target and rank leads on the basis of probability to close. This helps marketers to work only the most promising leads and augment close rates. While analyzing and processing data considerably expensive or time-consuming for humans, AI systems are perfect in this scenario. The systems find new leads by exploring and recommending new potential customers. It extracts the connections between customers, brands, products, and places on the web, enabling marketers to determine which individuals might become customers.
Boosts Conversion Rates and ROI
Today, businesses have access to more customer data than ever before that assist them to capitalize on opportunities to derive in-depth insights. This helps in making effective data-driven decision making to deliver successful marketing strategies. As artificial intelligence intelligently automates tedious sales and marketing tasks, it also has the ability to cut down response time, increase work, and assess sales call data to help improve conversion rates and eventually businesses’ return on investment. AI-driven chatbots with NLP, NLG, and machine learning capabilities allow companies to deliver germane and responsive customer support in real-time.
Most customers these days seek personalized shopping experience which is the key to boost conversion rates as well as improve average order value and customer retention rates. Thus, in this context, AI-powered recommendation engines are able to incredibly enhance the significance of the product recommendations based on businesses’ site by displaying items customers would most likely be interested in, to deliver a superior customer experience and fuel sales.
Leveraging an AI algorithm, sales and marketing teams can envisage with a high degree of accuracy of next quarter’s revenue. This, in turn, would assist organizations, from an operations standpoint to better management of inventory and resources. In addition, AI-powered tools are also able to amass data, create a predictive model, and experiment and validate that model on real customers. That information can point out what stage of churning the person is in. So, AI-enabled sales and marketing forecasting tools promise to solve a company’s biggest problem, converting data into actionable insights and driving business productivity.