Artificial Intelligence (AI) has changed the way people shop and how the goods and services they pay for are presented to them.
In the past few years, AI has become more affordable and more versatile than you might think. If you are on the fence when it comes to implementing AI with your business, here’s an overview of the ways how you, too, can use AI to increase sales.
Increase in leads
According to McKinsey’s research in the Harvard Business Review, the businesses which have already adopted AI to help them conduct their practice mark increased leads and appointments by about 50 percent.
These entrepreneurs have relied on the machine learning aspect of AI to take on the time-consuming tasks of connecting with leads, qualifying, following up, and sustaining the relationship between the company and its userbase.
This AI-assisted process increases sales by providing you with accurate data from the very start. AI gives you the most current data to get the most accurate leads, and thus more sales.
Shorter call times
The study cited above has also shown that sales teams that use AI to help them identify the customer’s needs and align solutions before making the call mark a decrease in call times ranging between 60 and 70 percent.
With less exploring and guesswork to do on the calls, salespeople have more time to devote to their primary area of work – that is, they can focus their time on selling.
The benefits that come from implementing AI as a part of your sales technique go two ways.
First of all, by automating lower-level sales activities with AI, some organizations have gone so far as to cut costs in half. Simultaneously, according to research, salespeople’s time can be spent on smart negotiations and closing deals.
Predict your customers’ needs
By using machine learning, an aspect of AI that makes machines learn as they are introduced to new data, companies such as Amazon can discern buying patterns and anticipate customers’ needs beforehand.
Uber, the ride-sharing giant, uses machine learning combined with heat maps to analyze patterns and help drivers be in the right place at the right time -i.e., where the potential customers are most likely to be at the moment.
The same set of tools can also be used to gather insight based on a customer’s preferences. With this data available to you, you can develop a winning pitch before meeting them face to face.
Non-stop customer support
No human being can be there for their customers 24/7, but a machine can. By utilizing NLP (Natural Language Processing) algorithms, chatbots such as Servisbot can learn and improve how they communicate with people every day.
More critical is the fact that chatbots can be available any given minute of the day, ready and willing (and able) to provide your clients with the best customer service possible. Customers who are happy with your service are more likely to buy from you again. They’re also likely to recommend you to their friends.
Recognize your customers’ needs and respond to them faster
A well trained AI can keep track of how people find your site, how they behave once they get there, and what causes them trouble while shopping.
By letting AI take care of monitoring this information, you’ll be in the position to provide customers with the experience they want.
AI can even help you deal with positive and negative customer feedback in real-time. Any type of valid information is valuable, but the most precious is the current one.
AI-based product suggestions
One straightforward way to increase sales is to use AI to make product suggestions when customers are shopping on your site.
This makes it possible for you to increase sales by letting customers who are already engaged with your site know about products they might not otherwise find.
In a way, you’ll be turning the AI into a personal shopping assistant for your customers.
Implementing AI to help you requires that you be smarter and faster than the competition to stay ahead of the game, but it’s more than worth it.
In the end, it all comes down to having the most data that can be instantly analyzed and turned into actionable strategies. AI can help you achieve your goals by working more effectively and saving you time to do what matters. It can help you increase your sales, enhance your customers’ experience, and manage your business more effectively.