Author: Rajat Acharya
“The playing field is poised to become a lot more competitive, and businesses that don’t deploy AI and data to help them innovate in everything they do will be at a disadvantage.” — Paul Daugherty, Chief Technology and Innovation Officer, Accenture
AI is changing the traditional view of CRM solutions. Businesses now want AI-enabled CRMs that can extract, analyse and interpret data to make accurate sales decisions. In fact, considering how the volume of data is rising exponentially, it’s almost imperative for businesses to go for CRM systems with built-in AI capabilities.
Here are 5 ways in which AI and CRM can be powerful tools in your arsenal to achieve your sales goals.
1. Make intuitive and actionable sales decisions by using data and insights effectively
Leading CRM systems use AI to suggest ways you can improve sales and hit your monthly targets. For instance, Salesforce’s Einstein and Dynamics 365 AI are ahead of the game – providing smart suggestions, forecasts and insights – so you can win deals.
Moreover, AI is empowering CRM; it’s here and is being used by businesses to make intuitive, actionable decisions. Meanwhile, organisational data is doubling every 18 months! In other words, if you aren’t using AI-powered CRM, then you might be missing an important trick or two.
2. Increase your leads and sales through a personalised sales strategy
CRM systems can increase lead conversion rates by up to 300 percent, according to a Forrester study. Furthermore, AI-enabled CRMs with predictive lead scoring to help you identify leads most likely to purchase your products. Smart insights and recommendations help you come up with an effective sales pitch. You can hit the right prospects with the right material at the right time rather than wasting time on cold calls.
3. Engage and retain potential customers for long-term business prospects
AI-enabled CRM systems give you an edge over the competition in winning long-term business from your customers. Because the AI allows you to explore customers’ challenges, goals, and preferences, you can personalise your sales strategy. A great example of this is the sentiment analysis which helps you understand customers’ satisfaction with your products and identify aspects that need improvement.
4. Increase upsell/cross-sell opportunities and provide real value to customers
Traditional CRMs aren’t as intuitive in understanding what drives sales. However, with AI-powered systems, you can predict customer’s purchase behaviour and preferences to help you upsell personalised, best-fit solutions relevant to their business. As a result, you can stay on top of your clients’ past purchase records and sign winning upsells with AI’s recommended next best actions.
5. Encourage more productive teamwork by automating routine processes
AI and automation are – by disrupting the traditional CRM – improving productivity. While you focus on nurturing relationships and strengthening retention, AI assists you in rather routine work: entering data, scheduling meetings, making phone calls. In addition, AI allows your salespeople to become more efficient and creative and handles complex CRM processes.
At Dogma Group, we adopt a ‘configure-first’ approach that challenges the status quo to help you realise the full benefits of the CRM, ERP and complementary technology and minimise (and often, eradicate) the need for custom development. We use our experience and technical skills to provide trusted advice and proven solutions. Contact us or call us today on 01296 328 689 for a no-obligation consultation or email us at firstname.lastname@example.org.