Business Operations

How to use Artificial Intelligence in Sales

From self-driving cars to manufacturing robots and virtual assistants, the AI revolution is firmly underway. According to a PricewaterhouseCoopers survey, 84 percent of U.S. business executives believe it will be “necessary” to implement AI at scale within the next three years. What’s more, PwC estimates that the global AI market will grow by an astounding $70 billion in the next year alone. Businesses large and small can benefit from incorporating AI into their processes and workflows. Yet among all teams and departments, sales perhaps stand to gain the most from adopting AI technologies. Careful, considerate use of the right AI sales techniques can transform your sales team, making your salespeople dramatically more productive and profitable.

What is AI in sales?

Artificial intelligence in sales is the use of AI and machine learning techniques to improve the performance of your sales teams.

Sales techniques such as product recommendation engines and predictive lead scoring are already based on AI techniques. However, sales teams may be using these tools haphazardly, without extracting the most benefit or without being a part of a larger AI-enabled strategy.

Derek McCallum is Co-Founder and Chief Data Officer for IronFocus, a data services company providing companies with insight into their marketing, sales, and customer retention strategies. He is the idea guy for difficult business situations and forms solutions based on data and facts rather than emotion or beliefs. For more information, visit ironfocus.com AI for sales wholeheartedly embraces the concept of using artificial intelligence and machine learning, taking your sales team to the next level. In a 2018 Salesforce survey, sales leaders predicted that sales teams’ use of AI would increase faster than any other technology, with an estimated two-year growth rate of 155 percent.

The survey also found that by 2020, 54 percent of sales leaders expect to be using AI technology. This comes as no surprise when you consider that high-performing sales teams are 4.9 times more likely than underperformers to already be using AI.

4 ways to use artificial intelligence in sales

Nearly everyone is in agreement that using artificial intelligence for sales is a good idea, but what does AI for sales actually look like in practice? Below, we’ll discuss four ways to integrate AI into your sales processes.

1. Strike better deals Your sales professionals may be good at closing deals—but are they good at closing deals that are a winning proposition for your company? AI has the answer.

By sifting through mountains of data about previous transactions and interactions, AI-enabled sales tools can find the deals and accounts that tend to perform well over time. If you’re looking to convert a stubborn prospect, AI can even suggest the best services and discounts to offer to make the deal a success.

2. Get better leads Lead prospecting is a notoriously challenging part of the sales process. According to a HubSpot survey, a plurality of salespeople—42 percent—say that prospecting is the stage with which they struggle the most.

The good news is that you can use cutting-edge AI systems for lead generation and prospecting. Today’s AI-enabled sales tools can perform a wide variety of tasks, including:

• Analyzing social media platforms to discover consumer trends and interests.

• Mining data to discover connections between people and businesses and recommend new leads.

• Updating contact information by scanning emails and other messages.

3. Personalize campaigns Everyone likes to feel special, which means that personalization is one of the most important sales and marketing tactics. According to consumers, 58 percent say that a personalized experience is “very important” when making a purchase, while 52 percent say that they would be “somewhat likely” to switch brands if they weren’t happy with the level of personalization.

AI sales tools can make the task of personalization and “hyper-personalization” significantly easier. Based on the profile of a customer or prospect, AI can deliver the most relevant information about your products and services and the content it believes will most likely result in a conversion. As of 2018, just 9 percent of organizations say they’ve finished developing their hyper-personalization strategy, which means that early adopters stand to benefit a great deal.

4. Automate manual activities Despite the job title, salespeople don’t actually spend the majority of their time selling. According to a survey by InsideSales.com, 63 percent of sales representatives’ time is spent on non-revenue-generating activities. Much of this time is spent manually entering data into customer relationship management (CRM) software or handling administrative tasks.

The good news is that much of this activity can be automated by AI-enabled sales tools. Consulting firm McKinsey & Company estimates that half of sales reps’ duties are candidates for automation. In so doing, salespeople can free up more time for what really matters: connecting and following up with prospects. •

Save $25 Early Bird Special Register by July 17th per player

Please join us at SEAA’s 21st annual golf educational fundraiser tournament.

Mark Your Calendar!

FRIDAY OCTOBER 9, 2020

Lonnie Poole Golf Course NC State University Raleigh, NC

All proceeds from this event will fund the development of new steel erection training programs sponsored by the SEAA Safety and Education Committee. For more information seaa.net or call SEAA office 336.294.8880