Artificial Intelligence in Sales: How to Use AI to Sell More

How they use a product or service, or activity such as seeking out more data sheets, blog posts, and website videos could be an indicator that they need additional products. With predictive analytics, you can assimilate data such as corporate background, demographics, and more to create well-defined buyer personas. Using similar customer profiles already stored in the database, it’s easier to make comparisons and identify the characteristics that point to a likely sale. Through our partnership with WebFX, we also offer access to advanced revenue marketing technology as well as implementation and consulting services for sales and marketing technology.

• At their core, though, all of these technologies help machines perform specific cognitive tasks as well as or better than humans.
• At Marketing AI Institute, we’re tracking AI’s impact on sales and marketing.
• There’s a degree of unease that comes with the rapid rise of machine-learning.
• Early telco market leaders have developed partner-led solid strategies to navigate AI.
• But AI isn’t just about spotting the problem; it’s also about offering solutions.
• Here, we outline the marketing and sales opportunities (and risks) in this dynamic field and suggest productive paths forward.

But AI isn’t just about spotting the problem; it’s also about offering solutions. By analyzing usage patterns, AI can identify opportunities to upsell or cross-sell, leading to increased revenue and a more satisfied customer. It offers real-time negotiation guidance and predictive insights based on customer behavior, and competitive pricing.

Wondering if Freshsales would be able to help your business?

AI can help trace customer behavior, analyze customer communication, and use predictive models to score leads even before sales reps talk to the customers. This significantly improves conversion rates and helps you devote resources to the right customers. Machine learning and artificial intelligence (AI) are being dubbed the Fourth Industrial Revolution, and for good reason. AI is poised to significantly change the way humans work, including sales professionals. But while many see AI as still a “way of the future,” innovative sales teams are harnessing the power of AI today. Artificial intelligence (AI) can improve sales processes, identify selling opportunities, resolve sales challenges and boost overall sales performance.

Second, AI aids in personalizing and automating customer interactions. Consider Aviso, an AI-driven forecasting solution, to understand how this works. For example, RocketDocs leverages AI to help its users build and manage dynamic content libraries. This tool surfaces relevant information when necessary, and even automatically pulls data from these libraries into proposals. Artificial intelligence, specifically, provides several opportunities for streamlining and optimization. Loopio’s “2021 RFP Response Trends” survey found that businesses send out an average of 150 RFP responses a year and these responses generate 35% of their revenue.

Encourage a Data-Driven Mindset

As your AI sales tools collect and analyze data, you’ll learn the best ways to train and support your sales teams. Accurately forecasting sales volume is one of the most effective ways to increase your company’s efficiency. AI sales tools can look at your sales history as well as market trends to create accurate forecasting to help you power sales productivity and manage warehouse stock.

Plenty of smart salespeople (and managers) operate under the belief that they should keep repeating their most successful sales efforts — with the same types of customers — until they no longer get hits. Once solidly filed away, the data can then be curated by humans and bots. Salesforce notes that half of sales forecasts are driven by data alone, and that number should increase in the following years. Products like Yesware and Mixmax ensure inbox data finds its way into the corporate customer relationship management system. AI technology designed specifically for research can turn that job into a largely automated process. The tool has brilliant salesforce slack integration that will help you automate critical workflows.

For instance, one tool we list below actually follows up with leads without human intervention, going so far as to conduct two-way conversations with them. Instead of leads falling through the cracks, as they often do, every lead is contacted, nurtured, and qualified. Once the lead is warm or needs human attention, the machine hands the lead off to a human rep. A typical non-AI system, like your accounting software, relies on human inputs to work. For instance, AI-powered computer vision systems in self-driving cars are able to identify obstacles just like people do, allowing the machine to take the wheel. Then we’ll look at some top AI use cases you can adopt if you’re a sales rep. And you’ll come away armed with some ideas on how the technology can help you better make quota.

However, it’s essential to keep in mind that the CRM must efficiently capture, structure, and store comprehensive information on all customer brand interactions, which only a few CRMs currently excel at. AI can predict which deals or prospects are most likely to close, identify potential new customers, and even forecast team performance for the upcoming quarter. These insights give sales leaders the information they need to take proactive steps to enhance their performance and make informed decisions. It offers numerous advantages for sales teams, from sales process improvement to overcoming challenges and enhancing overall performance.

This step helps you gain a clear understanding of areas that are draining time and resources unnecessarily. Specialized AI-powered tools like Dynamic Pricing AI or Imprice, in turn, can monitor dozens of competitors and hundreds of thousands of parameters and react immediately. Dynamic real-time pricing is highly demanding yet heavily labor-intensive and risky in terms of setting the wrong price accidentally. You can trust a myriad of administrative tasks with AI, from data entry to scheduling follow-ups. As you can see, this deeper understanding allows you to craft strategies that result in higher sales numbers with less effort. As the same State of Sales 5th edition claims, salespeople, on average, sell only 28% of their working hours.

Using artificial intelligence, your marketing team and salespeople can create predictive models that tell you more about your customers’ behavior, market trends, and new sales opportunities. To gain control of your sales processes, businesses must have access to in-depth reporting at all times. Sales managers are better assigned to manage sales reps than creating reports constantly.

While competition intensifies and market dynamics continuously evolve, today’s customers have become more discerning and well-informed than ever before. As a result, achieving significant revenue growth has become an ambitious endeavor. Revolutionize your sales strategy and elevate revenue with AI-powered guidance.

In fact, 74% of sales professionals agree that AI can help them be more efficient in their role — and sales training is one area that can see a huge lift with this technology. AI for sales can help by collecting and inputting data without any leg-work from the sales rep. This leads to more accurate customer profiles that guide your reps to the most profitable course of action. Many sales teams have already started adopting chatbots to do just this — freeing up reps for deeper relationship building and strategic conversations. With the help of AI, we were able to predict which customers churned with 45% higher accuracy than previous estimates. In the process, we found that 80% of the prediction improvement came from the structure and profile of the company using the product, not the engagement data.

Or they’re nervous, hesitant, and worried that the ai revolution will take over their jobs. Whether you’re excited, nervous, or indifferent, artificial intelligence for sales is very real, and it’s here to stay. Think of it as a personalized coaching session with a digital mentor.

From sales to marketing to inventory management, we know how to leverage AI to help your business maximize productivity. A significant benefit of artificial intelligence in sales is that it can help you improve your sales pipeline management. Your sales pipeline is a crucial component of getting people to turn from prospects to customers.

• Automation takes us further and faster, but we are still the critical component.
• Generative Signals creates a dynamic playbook for every deal in your CRM.
• Clari helps users perform 3 core functions – forecasting, pipeline management, and revenue intelligence.
• For example, it can show if the customer is underutilizing your service, having issues with support, or looking for new features.
• Furthermore, telcos face significant deployment challenges, making adoption slower than in other verticals.

From lead generation to personalization, predictive analytics to chatbots, AI-powered tools are providing sales teams with data and insights that help them to be more effective and efficient. Conversational AI technology can produce real-time transcripts of sales calls and mine those transcripts for important details that might otherwise be overlooked. For example, AI can identify conversational trends and objections to help sales reps come to their sales calls almost as prepared as if they’d had a crystal ball. But it’s not just about arming your sales teams with information; it’s about equipping them with the tools to create meaningful connections.

Just like any business objective, your sales goals should be crystal clear, achievable, and measurable. Remember, Rome wasn’t built in a day, and the same applies to AI in sales. Be patient and realistic about targets, especially while your sales reps are still adapting to this technology.Encourage them to ask questions and seek additional support when needed. In a world where quality matters more than quantity, Gen AI is a game-changer. It empowers businesses to efficiently analyze and identify high-quality leads, paving the way for more effective, tailored lead-activation campaigns.

Read more about How To Use Artificial Intelligence (AI) For Sales? here.