Using AI Sales Assistant Software can help improve close rate, increase lead volume, and improve your sales performance. This is something we all know.
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But how can using AI in sales help you bring closer to your goal?
That’s because implementing AI in your sales process allows you to automate and augment most of the process. This frees up most of the time for sales reps, who can focus more on closing the deal.
Companies that know the benefit are already using AI software in their work. As the Salesforce State of Sales report mentioned, sales team leaders expect to adopt AI more than any other technology.
The report also found that companies that use AI perform 4.6% better than organizations that don’t use any. And it’s also a myth that AI will replace sales members. Instead, many companies are planning to hire more people.
Why is it happening? Because of this, AI is literally giving the sales team superpowers, which is proof of many case studies and use cases around us. That’s what we are going to showcase in this article. First, let’s look at the basics.
What is AI for sales?
AI covers many different technologies – computer vision, machine learning, deep learning, natural language processing, and more. All these technologies help to perform various tasks.
In a nutshell, AI isn’t just about automation, it’s also about making your sales performance and career better in so many ways.
Using these technologies helps to analyze large data sets and get insights to make decisions, recommendations, and predictions. The technology used in AI to gather insights is known as machine learning. It helps to identify patterns based on large data sets, and the machine uses these patterns to make predictions. It uses more data to improve those predictions as time passes.
The technology used by machine learning improves over time without needing any human involvement. The improvement caused by machine learning reviews its own performance and other data over time.
To sum up, AI technology used by the sales team can interpret and analyze customer and prospect data, predict which prospects are more likely to close deals, forecast results, optimize pricing, and many other things.
Due to the improvement in sales performance caused by AI, the Harvard Business Review estimated that AI can generate $1.4 to $2.6 trillion of value in the sales and marketing field.
Use cases of AI in the sales field
Sales forecasting software can predict and forecast results based on past data. Some of the common predictions that AI can make are:
- Prospects or deals that are more likely to close
- The type of deals and prospects to target next
- New customers that are interested in your product
The accuracy of the results depends upon the type of system being used and the data quality. If both the present and past data are correct then AI can show you who will buy from you in the future.
This predictive forecasting type can help you internally generate value for your sales team.
With the same method, AI can help sales managers predict their team’s performance for the quarter in advance to take necessary steps depending on the result.
Lead scoring and prioritization
AI can study and interpret large sets of data from a variety of sources and can analyze which leads are good enough to follow, you can prioritize them depending on the scores AI has awarded them.
Sales teams often take the wrong approach to lead scoring and prioritization. As they make decisions based on instincts or incomplete data, which lowers the chance of closing the deal.
AI also helps in giving out recommendations on sales actions. Depending upon the requirements, AI can recommend the action that fits in with your goals.
Examples of recommendations include – which prospects are most qualified to target next, which customers fit in the category of cross-sells and upsells, or how to price a deal.
The end results always suggest what actions to take next, so the sales team can focus on the most important task.
Sales automation and sales productivity tool
By using AI, you can also augment and automate your work to save time and help you focus on more important tasks.
With AI, you can manage your calendar, schedule meetings, access your sales team’s pipeline, or use past data to help make more informed data-driven decisions.
This kind of use case is similar to how productivity apps work.
In short, using AI in your sales team can improve your productivity, get things done faster, and reach your goal faster.