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Monday, August 19, 2019

Benefits of Artificial Intelligence for Sales and Business Development | How AI is Transforming Marketing

How AI is transforming business
Artificial Intelligence in Business: Benefits of Artificial Intelligence for Sales and Business Development. How Artificial Intelligence is Changing Business? Are you ready to ride the next wave of marketing?

Benefits of Artificial Intelligence for Sales and Business Development - How AI is Transforming Marketing


Overview
Artificial Intelligence (AI) was seen as a futuristic technology from science fiction novels and space films. Fortunately, the rapid pace at which modern technology is evolving, artificial intelligence is becoming a reality and has the potential to influence all areas of our lives.
Because of science fiction movies, there are some concerns about the total reliance on artificial intelligence. Although some of these uncertainties are true, there are many benefits in which AI can be used. One of the great benefits of artificial intelligence is that it can process massive amounts of data effortlessly, much more quickly and effectively than anyone. AI software can also make rudimentary decisions based on that data, and can teach itself to draw new conclusions from it through the process we call machine learning.
This process will allow us to achieve insights we didn't think were possible, and the partnership between man and machine can greatly improve traffic systems, healthcare, marketing, and many other things.
In this article, we will let you know the benefits of artificial intelligence in business and how AI is changing business? Let’s start!

What is Artificial Intelligence (AI)?

Artificial Intelligence (AI) is defined as the field of computer science that emphasizes the creation of intelligent machines that function and interact as humans do. Some of the activities designed for AI computers include speech recognition, learning, planning, and problem-solving. Artificial Intelligence works by combining large amounts of data, fast iterative processing, and intelligent algorithms, allowing the software to automatically learn from patterns or features in the data.



How Artificial Intelligence is Changing Business Today?

Artificial intelligence (AI) can be used to solve many problems in businesses. AI can help businesses provide predictive analysis,  improve customer experience, detect fraud and errors, automate work processes and increase sales.
Artificial intelligence is changing the way you sell or buy from managing online conversations on websites to analyzing a huge amount of sales data to predict the closing of the deal, making the presence of AI tangible.
Artificial intelligence can dramatically reduce human interaction in the sales process and its power reaches its maximum potential when seamlessly integrated to help sales partners with more contextual information while giving your customers the personal journey they expect.
By collecting and processing information at a much higher rate than humans can do, AI will increase the selling capabilities of sales partners.
The research study by Amnesty International, "A London-based non-governmental organization", shows how sales and customer relationships are managed through artificial intelligence. Amnesty International leads the customer experience by acting as digital assistants to answer key queries and make relevant recommendations by analyzing customer data.

AI-powered systems can sort large amounts of data more quickly than humans can do, customers get more accurate responses. For example, insurance agencies make use of Artificial Intelligence (AI) in order to process claims to get rid of waiting in weeks of paperwork with 99.9% accuracy. Amnesty International will continue to provide a human-like experience at a faster pace.
In fact, Gartner predicts that through 2020, customers will manage 85% of their relationship with an organization without human interaction.
For salespeople, Amnesty International will increase its capabilities and make it better in what they do - selling. The potential of Artificial Intelligence ranges from automating repetitive tasks to extracting insights into which sales partners have no time or ability to find themselves.
Amnesty International will provide sales partners with relevant data and ideas at their fingertips, significantly reducing the time they spend researching and analyzing. This will free salespeople from any task, such as entering data, scheduling appointments, or forecasting sales, which do not require building personal relationships.

Here's what experts think about "Artificial Intelligence in Business":

Viveka von Rosen, Chief Visionary Officer (CVO) at Vengreso, LinkedIn Author and influencer:
"I find that artificial intelligence is critical to our business. It allows those of us who are members of the board of directors and business owners to really do what we do best. It allows us to be influential and allows us to go out to teach and speak while following every progress that comes to our website or is created through LinkedIn. That way we know we don't miss opportunities, and we don't have to be on the phone or e-mails 24/7. Amnesty International will pay more attention to the lackluster work that allows the employer and influencer to do better".

Scott Britton - Senior Sales Coach, has a business development course and is currently the co-founder of Troops.ai: "Amnesty International will help sales staff better prioritize their efforts, but automate a lot of traditional work that requires research as well as get rid of a lot of mundane tasks, giving salespeople more time to sell and providing a better customer experience".

Jim Dickie - Co-Founder of CSO Insights: "We should also recognize the fact that B2B customers will increasingly use AI to buy. AI will give them insight into their real needs, solutions to assess them, what other companies actually pay for these products, what current users are facing, etc., all without talking to vendors".

Laurie McCabe - Founder and Partner of SMB Group: "Artificial intelligence and machine learning will automate many of the sales and marketing processes that must be done manually today - enabling sales professionals to engage more personally with potential customers. For example, artificial intelligence and machine learning will automate repetitive tasks, such as tracking each lead, then converting qualified customers into sales for further follow-up. They will also help sales staff implement more successfully, relying on data to recommend next steps, alerts about new information, etc. AI and ML will also provide sales personnel with better information about the unique needs of customers so they can provide more personalized service. These technologies will also help salespeople do a better job of anticipating customer needs and proactively advancing with suggestions on how their solutions and services can help".

The Benefits of Artificial Intelligence for Sales and Marketing




Artificial Intelligence and Sales:

Sales teams love data, and artificial intelligence is the perfect tool to help them deal with it. In fact, artificial intelligence began to enter directly into CRM and automated marketing systems; the funny thing is that people will not necessarily need to know that they are using artificial intelligence to take advantage of them.
The sales process depends on communicating with customers on a personal level, and AI can help develop personal communication by providing sales teams with the information they need. It can predict based on performance in similar situations by leveraging big data, and the importance of machine learning stems from the fact that it evolves over time.
This will make sales teams more effective. Instead of relying on a random approach, AI software can identify the goods you are most likely to buy and determine the type of message that is likely to be most effective. Sales teams can save half the time you spend on the phone, but double sales.

Rethink the shopping experience - Basic Retail:

Artificial intelligence can also affect real-world shopping situations by increasing in-store purchases than showing ads that relate to buyers at the moment of purchase. At the same time, online shopping can see a similar change in chat interfaces and virtual assistants, which could make the online shopping experience more natural and even lead to more transformations.
It is important to remember that artificial intelligence is not coming to take over the jobs of traditional salespeople. Whether you are marketing to customers directly in the store or marketing to other companies in the call center, you need to be able to harness the power of AI to streamline your conversations - such as our use of sales texts today, but texts will be adapted to each client with artificial intelligence and big data.
In fact, the real value of using artificial intelligence as part of the sales program is the fact that man and machine together are much stronger than either one alone. Humans need AI to help process data in real-time, but AI needs humans to make informed decisions based on the data that is provided. Maybe someday, artificial intelligence will make enough progress so that he can make those decisions on our behalf - but for now, the closest thing we have to is that AI is used to bid and modify advertising programs.

Statistical Analysis of Unstructured Data:

A big problem for marketers is the challenge of understanding unstructured data. Unstructured data means things like feedback on social media updates or people's opinions that they record on Amazon. At the moment, if we are to consolidate this information and add it to the customer record, it is a laborious and a time-consuming process that is prone to human error, but artificial intelligence can offer us a way to analyze and process this data with minimal human oversight.
The sales ratios we are used to are about to change, and this change will come whether we like it or not. For example, rather than assigning prospective clients to the nearest delegate based on location, sales programs can determine which representative is likely to complete this sale. The site is important, of course, but there are a host of other factors such as the areas of expertise of salespeople and their performance in similar situations. Perhaps the best person to complete the sale is not a salesperson, but someone from the technical team who can answer the questions a potential customer wants to ask.
The good news is that all of this can be measured. In fact, the measurements you take will be what the software will analyze to reach its decisions, and you will likely find that the more you measure something, the better that measurement will be, while AI will continue to find ways to streamline processes and develop your sales team.

Tomorrow's Technology Today:

All this may seem from the future as if it were science fiction, but the truth is that much of the power of artificial intelligence is ready for us to benefit from today. Modern technologies that take advantage of artificial intelligence include Salesforce Einstein–AI for Everyone, IBM Watson Commerce, SIERRA–Offshore Software Development Service Providers, and Nuance Communications–Computer Software Company, each linked to a different area of AI-based sales and marketing.
At the same time, big players like Google, Facebook, Apple, and Amazon are increasingly using artificial intelligence, whether it's by using it to run search results or whether by creating a voice assistant based on artificial intelligence like Siri and Alexa. In fact, future sales decisions can be made well while interacting with a voice assistant. Just imagine how useful it would be to have your first search result when someone says, "Alexa, buy me a drink."
The future of AI-based sales looks bright, and although there is a long way to go, AI and sales become companions like Digital Marketing, but we are moving in that direction now. In the meantime, you can get a head start by adopting that technology early on. Good luck.

Conclusion
Artificial intelligence is like any new technology that has its own advantages and disadvantages. We can take advantage of artificial intelligence in a lot of work. This does not mean that we can eliminate humans altogether. There are a lot of things that require humans not to interfere to reduce the proportion of errors.


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