Tips to improve sales performance:
Earlier this year the Japanese insurance company Fukoku Mutual Life replaced 34 of its staff with IBM’s Watson Artificial Intelligence program. Artificial Intelligence (AI) is here to stay and is disrupting professional services including banking and finance, legal services and now even sales and marketing. Artificial Intelligence or AI is intelligence by machines which aims mimic human cognitive functions like learning, language and problem-solving.
Tips to improve sales performance
According to a Harvard Business School study companies that use artificial intelligence in sales have helped increase leads by 50%. But this is just the beginning. Using AI techniques like machine learning, predictive analysis and natural language, AI helps sales reps generate high quality leads, automate tasks and produce meaningful insights about their leads and customers – enhancing the sales toolkit and solutions.
Rather than trying to substitute the role of a sales rep, AI instead provides sales reps tools to help increase sales. According to Harvard, sales professionals will continue to be crucial to the sales process even as they adapt to working with AI. There is still a place for the sales rep as algorithms cannot replace the human touch, manage exceptions, tolerate ambiguity and use judgement and intuition to deal with customers.
Natural language allows companies to also automate and personalize messages. We are already seeing many e-commerce companies using bots to service new and existing customers. These bots can handle complex masses of data about individuals (e.g. their age, gender, what type of products they enjoy) and can pinpoint exactly who is most likely to engage with their product.
AI is disrupting online shopping. For some online shoppers, they no longer have to waste time browsing endlessly for items or services they seek when they can now be picked out for you. By 2020 customers will manage 85% of their relationship with an enterprise without interacting with a human.
Sales and CRM companies, like WhizLeads are enabling users to leverage AI and machine learning to help increase sales. For example, WhizLeads uses live social media data about our user’s customers and leads and analyses this data using machine learning to generate up to date and meaningful insights about the customer’s personalities, mood, consumer needs, language style and values. These insights are powerful for our users and provides them an edge over their competitors as they can build trust, intimacy and understand their customer’s needs, moods and interest on a deeper level.
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In the knowledge economy data and information is king, companies can harness big data and use it to analyse trends and generate insights about your customers. Artificial intelligence will enhance the sales process and increase your sales – its about time you give it a go.
If you found this blog useful, please have a look at the rest of our brief but straight to the point sales blogs by WhizLeads.com.