Much of the press surrounding artificial intelligence has focused on its uses in areas like customer service or marketing or inventory management.
Sales is often overlooked or lumped in with marketing, but artificial intelligence- more specifically intelligent customer profiling- has the potential to revolutionize the way the sales team operates on a user level.
More data, less guessing
Intelligent profiles take the guesswork out of creating buyer personas.
Instead of relying on instinct, individual experience, or preconceptions about a product’s primary audience, sales staff can access the collected experience of the company to build an accurate picture of their customers.
Data-driven lead management
With intelligent customer profiles, sales teams have a good idea of who will be interested in their product and who isn’t yet at the buying stage.
As a result leads increase in both number and value.
Companies who use artificial intelligence in sales report a 50% increase in leads and appointments.
That’s why 79% of high-performing teams incorporate predictive intelligence (including intelligent profiles) into their lead management procedures.
Better lead management has a secondary benefit.
It helps managers make the best possible use of their sales staff.
Rather than devoting hours to persuading customers who aren’t ready to buy, agents are assigned to those most likely to make a purchase.
They spend less time pitching and more time signing deals.
Teams that prioritize their leads with predictive analytics like this see call time reductions of as much as 60-70%.
Integrating AI into the sales process lowers labor and overtime costs, but that’s not where the savings end.
A Harvard Business Review study found overall cost reductions of 40-60% after sales teams adopted artificial intelligence to evaluate customers.
The bulk of this comes from trimming unnecessary travel and meeting expenses.
Because managers can predict the potential value of a client, resources aren’t wasted where there’s little chance of success.
Focus on relationships
86% of customers prioritize a positive buying experience over cost.
By 2020, customer experience is predicted to overtake price and product as the key brand differentiator.
With intelligent profiles, sales agents arrive at meetings armed with the information a particular customer is most likely to want or need.
They know in advance where the best opportunities for upsells lie, and they have an edge in scheduling future orders because they know how similar customers have behaved in the past.
Preparation like this makes customers feel personally valued. That leads to better customer relationships and higher retention rates.
Practical tools for everyday use
Intelligent customer profiles aren’t only useful for strategy.
They provide practical sales guidance on an operational level.
Sales teams can improve their performance significantly by using this technology to better connect with and serve clients.