Artificial Intelligence In Sales: Is It Worth The Investment?

Artificial Intelligence In Sales: Is It Worth The Investment?

The International Data Corporation (IDC) recently released its worldwide Semiannual Cognitive Artificial Intelligence Systems Spending Guide, which estimates sales process recommendation and cost of automation to reach 45.45 billion this year. IDC Research Director David Schubmehl said: "The interest and understanding of AI is at a fever pitch. Every industry and every company should evaluate AI to see how it impacts their business processes and market-to-market capabilities." This warning is relevant to any sales leader.

My own experience supports this. The vast majority of my clients are looking to give the "Sales Process Recommendation and Guided selling" or Artificial

Intelligence (AI) -driven sales enablement, a more authentic industry term. They see this as a way to consistently reflect successful sales results. And streamline the sales process. Although I have not played a role in their purchase decision, I have experienced firsthand the advantages and potential pitfalls of operating less than optimal, software's pros and cons, and sales leaders. Who invests?

Undoubtedly, the biggest advantage of this new technology is access to the standard sales model. While the name is not exciting, it is one of the most significant improvements to the sales process since CRM was widely adopted 15plus years ago. As the name suggests, it allows companies to build a sales model that believes that their ideal sales opportunities must be built to achieve business goals, no matter how they are built in the past.

As sales leaders live in a process where business-to-business (B2B) customers engage in the buying process, this can be huge. Properly implemented, the model has the agility to reflect the needs of different sales channels and purchase habits in industries or regions. Improperly implemented, it reinforces old buying habits and fails to move the dial positively.

With standard model setup complete, intelligent built-in tools guide sales teams through the buying process: Intelligent Content Management provides recommended content to build engagement, address concerns, and provide relevant proof points. In this way, the sales rep begins to address the needs of the buyer before the buyer's needs.

Opportunity verifiers serve as guards to improve the operational efficiency of the sales process. They lead sellers to analyze their contract pipeline and fix missing

or overlooked steps from hand to hand. As a result, when managers are involved, they can add real value to the sales process and take their time.

Tying it all together is AI's ability to analyze and rate how close each contract is to the standard model, so that effort can only be directed toward the most successful deals.

In this case, the power of AI services to improve the sales process is obvious. It acts like a highly qualified assistant, learning smarter from real-time sales operations, improving the standard model, and recalibrating affiliate content and behavioral cues. It gives sales leaders the ability to keep customers in the middle of the sales process, with the help of sales representatives loaded with the insights, skills and knowledge needed to respond to the ever-changing market or customer demands. It also provides the guidance needed to consistently reflect the most successful sales journeys. No relying on historical data, no lengthy setup, constant growing sales processes and resultant improvements.

So far, the benefits seem very compelling. Like a Formula One car, it tracks you faster than a standard vehicle, while modern sales enablement platforms undoubtedly speed up the deal, reduce the time to deal with closures, and improve sales results.

However, as in F1, the vehicle can only do so much. The skill and knowledge of the individual still provide the result. Despite unpredictable changes in the way people use information and make their purchasing decisions today, the adage "people to people" still holds. Soft skills such as emotional intelligence and empathy are key to the sales cycle. Therefore, the fear that AI will eliminate the role of sellers is hopeless.