Artificial Intelligence (AI) is arguably one of the most important technologies to impact businesses in recent years, and as the tools become more available, accurate, and widely integrated with existing systems, the use of AI in sales and CRM has become an important differentiator between businesses looking to grow. In this guide, we are going to look at the role AI plays in sales and CRM, how AI is transforming customer relationship management, the rise of AI chatbots in sales and customer service (CX), and what AI powered CRM features are boosting sales performance.
AI in sales and CRM is an important part of many modern businesses, and those who are seeking to upgrade their systems or drive a ‘data first’ model are investing in the technology.
AI plays a significant role in modern sales and integrating with CRM software, which when set up correctly, operates at the heart of the business.
Some of the key functions that AI has been used to augment, assist, or handle include:
The potential for business transformation with AI is enormous, and many businesses are making use of AI and Business Process Automation (BPA) to streamline activities, reduce errors, save money, and realign staffing requirements with a focus on skill and profitability because they have AI and automation covering the daily necessities.
In terms of impact and adoption, the numbers tell a story of growth, adaptation, and a desire to push forward with more AI and automation in the future:
According to Bloomsburg Intelligence, AI industry growth is expected to boom at a rate of 42% CAGE over the next decade, adding $280 billion (USD) in new software revenue.
With so many companies of all sizes seeing the benefits and cost-reductions that come with AI, the use of the technology is something that needs to be addressed in order to stay competitive, compliant, and profitable.
TEB utilises powerful AI and strategic automation to support a CRM platform that will integrate at the heart of your business. Whether you are looking to boost your sales, increase your conversions, or take on a new market demographic, TEB can help you manage your data in a way that is smart, sensible, and simple.
Utilising AI to handle customer relationship management, and to integrate with your CRM software can make a game-changing difference to your business, especially when it comes to:
AI in sales and CRM activities has been transforming businesses both behind the scenes in the business processes and directly with customers when it comes to CX, follow-up, and even initial engagement.
The right AI program, when installed correctly, can become part of a powerful data-driven business solution which enables small and medium (SME) businesses to compete against their larger counterparts despite not having as many resources or as much budget.
Areas where AI has deeply impact customer relationship management and CRM software activities include:
Having the right level of AI and the support of a robust digital infrastructure can allow businesses much deeper insight into their own business, their competitors, and the needs / wants of their customer base.
With this much data, companies are much better equipped to monitor their individual markets, identify trends, and move strategies to capitalise on opportunities or avoid potential problems.
Of course, the benefits that come from AI and automation are not guaranteed, and it is absolutely vital that you carefully research your technological options to determine what platforms and / or programs are going to be best suited for your specific business needs.
When evaluating AI, consider:
Chatbots and AI driven VAs have been growing in popularity for the last few years, and as the technology becomes smoother and more capable of dealing with complex enquiries, it has become a fundamental driving force in 24/7 customer service and handling consumer expectations.
AI in sales and CRM has integrated the use of chatbots for more than just CX needs and is widely being seen as another potential platform for converting customers and driving sales.
To put this into perspective, let us have a look at some of the numbers:
One of the biggest stumbling blocks for businesses, Tidio reveals, is that 50% of companies say they do not use chatbots because they do not know how.
Having a lack of support and the ability to turn to professionals with reputable services and integrated functionality can potentially have an impact on half of all businesses; and to put this in another way – 50% of companies can give themselves an immediate competitive edge by bringing in strategic automation, suitable AI, and making use of functionality like chatbots and Virtual Assistants.
Of course, if you are working from a digital infrastructure which supports integration and a deeper usage of the information your chatbot is gathering, then you can do considerably more with what you learn.
Having a CRM linked to your data collection and supporting your AI, you have a ready-built repository for hyper-personalisation, in-depth analysis, and a way to engage with your clients that would have taken hours and hours of deep-dive research to achieve.
As AI continues to learn and develop, there are increasing cases where customers have had difficulty in telling apart the AI and a real human agent, which just shows you how far the technology has come.
There is likely always going to be a need for a human element when handling CX, but if the most mundane, repetitive, or unprofitable tasks can be left to the computer, your team will benefit from more interesting work, better motivation to produce results with higher quality leads, and the ability to keep brand standards high at all times.
The rise of AI in sales and CRM usage comes not only from the cost reductions and streamlining to be found in having a tool handle the work, but also from the sheer level of functionality and growth that the right AI powered tool can bring to your business.
So far we have looked at how chatbots and VAs can be positively influenced by AI, but there is far more that the right program can do, and a much broader reach across your business where you can make new improvements.
When you integrate AI into CRM software, you have the potential to go deeper into your data, faster with your decisions, and more strategic with your actions.
How you use AI and what you bring it in for is going to largely depend on your business, how you are structured, and what your business goals are.
Some of the most common features that come from AI-powered CRM software, which appeal to businesses looking at digitally driven or data-first structures include:
Being able to act proactively, respond quickly, and deep dive into data without having to spend ridiculous amounts of time waiting for reports and data to be collated can give you a significant advantage.
The right AI tool, and the right CRM software will allow your business to deeply understand its place in the market, determine what your customers want and need from you, and provide you with everything you need to know to make opportunities their most likely to succeed.
This then has a knock-on effect of increasing team morale, boosting brand standards, making legal and ethical obligations easier to maintain, reduce overall costs and wasted resources, and essentially put your business in a position where it can compete with precision.
The better tools you have, and the more they can work together with minimal additional technology, the faster you will be able to get your team up and running, and profiting.
AI in sales and CRM is only going to continue to grow more valuable to businesses, and it is expected to become more of an industry standard than an optional extra.
Get ahead of your competition and prepare your business for a data-driven direction with TEB.
Our CRM allows you to make use of AI and strategic automation to ensure your business processes are streamlined, reliable, effective, and compliant with your data protection needs.
Amongst the many benefits that come with TEB, you can expect to drive more sales with:
Book a demo with our team of experts today and discover for yourself how TEB can take your sales to the next level, bringing you futuristic functionality and a data-driven support that will allow you to develop year on year as your wasted budget shrinks and your profits grow.
