Artificial Intelligence Making Sales Teams More Effective
Today, a number of retail organizations are using artificial intelligence (AI) tools and practices to empower sales teams. AI tools are helping them in not only picking up their sales process, but also in making it more effective from the traditionally known processes. AI vendors are also geared up to serve their customers with the most innovative retail tools.
In one of the most recent developments, Absolutdata, a provider of AI-based tools created its latest offering called NAVIK SalesAI solution, an add-on tool which can work with major CRM platforms. The value addition of the NAVIK SalesAI is to provide predictive data on buyers, identifying the most promising prospects and aligning purchaser needs with products and communication channels. Data driven recommendations help sales professionals close more deals more quickly by providing a customized weekly game plan of prioritized leads and actions.
Dr. Anil Kaul, the CEO of Absolutdata, spoke about the development process of creating NAVIK AI. “We tested NAVIK SalesAI in a pilot program with a Fortune 500 industrial products company, and the results were incredible. Using an A/B approach, we found that a group comprising 50 salespeople in six territories that used NAVIK SalesAI experienced a 4 percent sales uptick within just seven weeks. NAVIK SalesAI identifies more intelligent pathways to the sale, adding science to the art of selling,” explained Kaul.
Experts believe that sales professionals make critical decisions every day, deciding which prospects to reach out to, what product and service offerings to highlight, and which communication channels will work best. Many salespeople make these decisions based on intuition or follow an organizational playbook. NAVIK SalesAI for example, offers a better alternative by making the buyer central to the process, and applying artificial intelligence to the data. It provides weekly guidance identifying the most promising contacts, specifying which products or services each contact is likely to purchase next and suggesting the most effective communication channel to use.
Read more: 3 Key Trends Shaping The Future Of AI
Web specific vendor FlyPolar had also learnt about the benefits of using AI in their sales process. With Condorly Brown LLC, they availed conversion rate optimization services, which essentially gives perspectives on how customers actually end up shopping more.
Together with Sentient Technologies, they used AI services in a way, which would actually test nearly an unlimited number elements across multiple pages at once to determine the arrangement that works best. Due to the fact that AI learns from data accumulated data over time, the existing database turned into creating trend analysis and final information, which turned around the fortunes of FlyPolar.
Within a month of implementation, the average order value at FlyPolar, the loungewear retailer based online, saw an increment of 13% in the average value of orders, other than a 16 percent increment in site visitors undertaking the checkout process.
There are several AI service options today, in order to aid the sales process, and make it more effective. For example, X.Ai is one such service, which schedules meetings, after connecting with one’s email and calender, to send out invites and other emails to prospective clients, who typically need a timeline in order to get converted. Set on an automated platform, it sends out mails, and helps user decide on a mutually convenient time for meetings with the aid of the calender, especially once the meeting is finalized. The AI based assistant called ‘Amy’ can even pick up on the users’ favorite place for casual dining and hangout, thus also suggesting it for meeting venues.
Then there is the ClearBit Connect service, which is actually a GMail add-on feature which find out the right email formats for people being searched for, while sending out proposals, during the earliest stages of the sales process. This services brings together the prospects LinkedIn profile, company information, and other useful facts, based on which one can start the sales process. The added bonus feature is, one can search by customers’ email and company name as well.
While, there are many more success stories of AI based online services that can aid the sales processes, it is important to note that the modern day sales process is not just about maintaining an old-school approach anymore, but also about taking decisions based on every minor and major aspect of the relationship between producer or service provider and the customer. AI, with the help of data available, refines and streamlines the sales processes in such a manner that every effort made, is more effective in getting a successful deal through, or rather converting prospects into successful transactions.
- Here's Why The Voice-First Strategy Will Rule
- How AI-ML Are Fueling Video Editing Innovations
- GST Spurs Sales Of Accounting Software [Infographic]
- Firms That Offer Human-Like AI Experiences Can Win Customers: Study
- How AI Is Transforming HR And The Recruitment Process
- Is Time Ripe For Robot CEOs? Firms Think Otherwise
- Digital Payment To Drive Blockchain Growth In India, Says Study
- Despite Potential, AI Has Many Issues To Be Sorted
- Adoption of Social Business Models Growing, Says ISG
- The Digital Messiah: Inside Accenture's Innovation Hub