By Ajay Chauhan, Founder SalezShark
October 23 2017:There is no industry that has seen a greater turmoil and strife amongst it’s functioning than the world of Sales. Newer developments are cropping up every second to disrupt the older parameters of conducting sales.
Earlier when there was plethora of ideas that populated the rooms of product managers, the ideas remained confined to talks as technology was extremely expensive or hard to deploy.
Now, technology is shaping up ways we view sales as consumers are more in tune with the experience created while putting forward their requirements. The sensitivity of data consumption has taken this thrush of demands into newer levels. Here, CRM software has contributed largely to the advancement of sales while reducing redundancy attached to older practices. Now, the inclusion of sophisticated advancements such as Artificial Intelligence has furthered the cause.
At the heart of all customer centric information and strategies that marketers harness is “ big data” the sum collection of sensitive data gathered through various touch points of human consumption, providing valuable insights for marketers to bank upon. AI requires large volumes of this sensitive information to analyse and populate, aiding businesses to craft game plans accordingly. Off late, AI has largely garnered its recent traction through the availability of low-cost processing and mass storage, making it an invaluable asset in businesses. Analysis of any sort- be it of end users or the market as whole, greatly benefits from the incorporation of AI
Market and user behaviour analysis using AI
- Predictive analytics on data gathered results in better product built and enhanced experience.
- By channelizing big data in business intelligence or analysis, businesses get to develop a unique thought process, culling out new solutions for business growth.
- Predictive maintenance system empowered through AI and big data reduces cost on maintenance without skimping on customer satisfaction and trust.
- AI enabled systems optimize marketing strategies by removing cold/dead leads from a list of potential customers.
- Data mining techniques can be used to analyze different types of networks that are built on a daily basis. This analysis helps a marketer to identify influencers or nodes within networks, which can then be applied to take a societal marketing approach.
Here are a few focal points where AI is augmenting operations of CRM
- User engagement – Conversational bots, a result of AI, are instrumental in enhanced customer interactions. Marketers can also utilize the power of mobile applications to directly interact with consumers, with the help of customer insights beforehand and through notifications on best suggested steps further. It helps in engaging visitors automatically and generating interests from consumer’s side. Conversations are more impactful and intrinsic, leading to better customer engagement and building brand value.
- Better customer service – AI systems using decoders provide better insights of user feedback. The reports, generated by these are more impactful than going through feedback manually. The purpose of saving time and money is aptly served, through incorporation of AI. Alongside this, target messaging is an asset that comes with big data, through greater insights into consumption data- leading to better customer service.
- Each one’s prophecy; All shall rise – Once a company has the Big Data in hand, AI can be integrated to provide insights, thereby advancing a far more refined CRM than we could have ever encountered before. Such insights can help you with the present trends and also has the capacity to give us a history of the consumer behavior (the dream of a CRM scientists!), helping the user with accurate predictions about their treatment of products and services.
With the power of AI in its kitty, CRM is reaching to new heights- easing the pains of marketers, in the process.
SalezShark is the next generation sales and marketing automation platform, founded in the year 2015, by a team of passionate experts dedicated to transform the traditional CRM space. currently operating in Delhi, Mumbai, and Bangalore markets in India, its headquarters are in Virginia, USA.