With the advent of Artificial Intelligence and machine learning, in many ways doing business has become easier than ever. The technology allows businesses to make informed decisions. So what does the new development in technology mean for all the B2B salespeople out there?
Salespeople and marketing executives can now understand a buyer’s behaviour in the sales funnel with just a single click. This in turn helps them create more personalised, content-based information on various buyer metrics including browsing history, buying trends and interests.
The nurturing process in sales is now more streamlined. The technology allows the sales and marketing teams to qualify MQLs and SQLs with even greater ease and efficiency. The process is now strengthened, providing a better sales pipeline and generating more leads.
“In a study published by PWC’s Global Artificial Intelligence, AI is all set to contribute over $15 trillion to the world economy by 2030”
Such is its growing influence on industries, businesses have started to adopt it en masse to make their sales process more efficient. It’s a well-documented fact that AI-systems are excellent at helping salespeople make the right business decisions. The AI will take care of everything from tracking to analysis, meaning that your sales team only need to make the right move and close those deals.
So yes, if you are serious about your future in the industry, you can no longer pretend to ignore the growth of AI. In fact, you should prepare your organisation for the AI revolution in sales.
Let’s look at how AI will take over the sales world and try to understand why and how we should get ready for for it.
What does all this AI talk mean?
AI is basically computer-automated systems that enable you to perform tasks which would have otherwise required some degree of human intelligence. Your mobile devices, for instance, are powered by a fair amount of AI capabilities. Machine learning is a scientific discipline that studies the algorithms and models used by computers to perform tasks. Machine learning has become an integral part of AI.
These technologies relate to sales as they help to boost leads and bring your team nearer to closing deals through standardisation, automation, and optimisation of the sales process.
How AI will change the way we see sales
Everything about sales boils down to the relationship between a customer and a business. With more and more customers growing used to technology, it’s become increasingly important for businesses to use advanced AI-based technologies to drive their sales processes. It’s all about striking the right balance between everything human and machine. The use of AI will help you strike that balance. The logical consequence of this is that those who don’t adopt it will be at a disadvantage compared to those who do.
So what should your organisation do to use AI and generate more sales?
Firstly, let’s try to understand the three different ways in which AI is influencing industries
AI has been transforming sales with the effective use of standardisation. In order to get the best out of AI for your business, you need a standardised system in place to ensure proper AI integration.
What does a standardised system mean for businesses?
Let’s say you’ve got a handful of sales executives. Using AI you can analyse their processes, interaction metrics and various sales techniques. You can use these metrics to develop a knowledge base which can then be used by other sales agents. Standardising your sales process will make sure that there is the same level of efficiency and performance across the whole team.
Optimisation is the driving force behind most AI-driven activities. While standardisation improves the efficiency of tasks, thus allowing them to be completed seamlessly, optimisation helps you to increase sales. With the use of AI, you can take optimisation to the next level by optimising the most relevant metrics for your business. The result is a higher ROI and improved customer satisfaction.
It’s worth noting that effective optimisation is the primary reason why most SaaS brands generate lots of sales. The future is ripe for optimization, so reap all the benefits.
How to prepare your organisation for the AI-driven future
The customers you’re selling to are evolving and changing, and so should you if you want to make sales. Technology now makes communication better — and it’s just beginning.
Today, the customers you’re selling to are more discerning and technologically savvy than ever before. If you want to stay relevant, you should upgrade your ways. AI is probably just a sign of what technology has in store for us in the future. The advent of AI has improved our means of interaction with customers.
Here’s what you should do to get your sales team up to speed with AI.
Predictive lead generation
This is a popular AI technology which helps you analyse customer behaviour. The varying customer engagement metrics like interaction on website and content consumption are then used to understand whether they qualify as leads. This way you would know whether it’s worth it to reach out to certain prospective customers. Businesses can use this technology to reach out to customers who may be ready to buy their products or services.
Predicting customer lifetime value
AI has the capacity to predict your customer’s total worth. AI achieves this by simply analysing the track record of a customer and their behaviour on the sales funnel. Knowing the customer lifetime value is absolutely central to identifying your loyal customers. This will help you understand which of your customers deserve the most attention.
AI will help you identify the right customers and send them relevant messages in the right place, at the right time. They can carefully monitor the various characteristics of your customers and define their specific interests. Using these metrics, AI is accurately able to determine a customer’s readiness to buy, and automate an appropriate action . This also shows you what changes to make to your marketing campaign, be it allocating budget, redesigning ad creatives or rewriting copy.
As you can clearly see, Artificial Intelligence is all set to dominate the sales charts for years to come. Businesses that are AI-ready will continue to thrive.
AI empowers businesses with better productivity, better aids to decision making, automated sales funnels and problem-solving skills.
If you’ve been thinking of incorporating AI into your business, this is the perfect time to try it out.