Over the last few years, AI has become the turned out to be the popular trend to enhance All forms of businesses. The ability of the machine learning to perform like clustering, forecasting, text and speech recognition, database filling, errors corrections and all activities that involve human intelligence is the prominent feature of artificial intelligence for all types of businesses. For the sales, Artificial Intelligence is the best suitable tool that helps the sales team to thoroughly understand and interpret the customer’s behavior and suggest the products to these customers.
In addition, AI also helps in the interpreting the sentiment of the clients and helps to a great extent in improving both the Marketing and the Sales sector of each company. Over the years, Artificial Intelligence has evolved in playing a critical role in the CRMs and the marketing automation systems. The below are the five major artificial intelligence CRM and marketing feature that is available in AtemisCloud to enhance the sales
1/ Data collection and filling
It is a fact that for marketing and the various CRM applications, huge sets of qualified data are required. Since the year 2006, AtemisCloud always strived to provide excellent applications to collect the huge amount of data from the lists as well as the internet sources. The process of capturing the corporate data enables the users to create and fill in the new information to the solutions as well for the cleaning or the updating of the previously existing lists.
The registration number is usually extracted from the company name with the AI applications. Now, from the registration number, the application will be able to collect the official address, business sector, capital, owners, shares, logo as well as the contact details. Then from the contact details, the application will be able to collect the photo, the LinkedIn page, the Facebook’s page and provides a cloud of keywords for the purpose of qualifying the contact.
The K-Means clustering method with the AI applications is used in structuring, cleaning and the analyzing of the sales data. After a series of iterations, algorithmic executions, the application will then be able to provide the best model along with the pattern to group all your customers. The different variable involved will be including the basket size, its price, the products bought, the frequency of purchases as well as the correlation of the products that are bought in all the clients’ baskets.
After the clustering of the data, the application displays the bubble charts and will provide you the list of all customers who are included into each of the bubbles. The relevance of analysis will surely surprise the marketing team. It will also enable the marketing team to come up with new marketing actions, promotions for targeted customers. The clustering application will consider the new sales and further provide regularly updated reports. The company using this AI clustering feature is improving their marketing strategy to a new greater level in an agile and fluent manner.
3/ Products correlations and suggestions
When you consider a specific product, you will be seeing the list of various products that the other customer has bought. The Amazon shop online works on providing the suggestion of products. This same process is being applied by the AtemisCloud AI feature with the Pearson method. The main core of the process is that all the sales data get completely analyzed. The correlations of all products in the baskets are completely defined and displayed. In the case of shop online, when the customer is found selecting one item into their basket, the application comes up with a list of suggested products. The machine learning collects the new data and provides the improved reports in real time. For any B2B company. The products basket of all customers is analyzed to interpret details like business sectors, employee’s number, address, and the revenues.
Once the right data is ready, the salesforce will begin contacting their customers. They will intend to increase the sales order from the customers, fit better to the needs and try to reach the sales target easily. For example, consider a set of companies buying an average number of 10 products. Out if this group, say 50% of the customer buy around 5 to 9 distinct products. The suggestions will be listing all the other products that customer can buy. While selling more distinct products, the average count of the products bought will be increased leading to an increase in sales. As a result, the average will become 12. This will help the team in contacting the customers who purchase less than 12 distinct products. From the AtemisCloud current business cases and by following the recommendations of AI features, the sales amount can increase by 30% due to the application of Artificial Intelligence.
4/ Pattern Recognition and Forecasting
AI plays a very critical role in the process of prediction and the forecasting of sales in terms of the production. With the help of the pattern recognition, the trends of the sale of a specific product over the years can be found. In addition, the success rate of the product in the future can also be easily predicted. The popular two methods of AI pattern recognition and the sales forecasting is the time series and the relations. When the future of sales most likely resembles the behavior of the past, it is the time series. Statistical tools will widely help in determining the time series. When the future of the sales completely depends on various factors, it is relational. In this case, the AI applications must be used.
Some of the commonly used forecasting techniques are the neural nets, expert systems as well as the belief system for sales prediction and forecasting. The AI CRMs, by successful sales forecasting, results in several benefits including obtaining the highest impact index. AI plays a major role in companies achieving an increase in revenue, lower expenses as well result in an improvement to a whopping 50% than ever before
When the sales are associated with the chatbots it is very popularly referred to as digital marketing. Being one of the advanced AI technique in enhancing the sales, the chatbots greatly helps in channelizing the automated conversation. This automation results in brilliant user experience. These chatbots are usually built with a machine learning technique.
They are developed in a manner that they can consider the context from the customer the past interactions the people as well as the language while answering to a query. Additionally, these chatbots can also be programmed to provide greetings to users like a ‘Hello’ or ‘Hi’. This advanced AI technique helps greatly in improving customer relations. The chatbots enable marketers to be proactive in behavior and actions. They also help in automating the customer conversations thereby leading way to deeper understanding. They enhance the user experience during the conversation
Advantages of the AI-powered CRM and Marketing solutions
The most prominent advantage of the AI-powered CRM and the Marketing solutions is bringing up of efficient data analysis in the company. The company can be managed well from data, from the salesforce to the board. The next advantage is coming up with more optimized, permanently updated sales strategy for a company. This will lead to an increase in sales, better customer satisfaction, consolidating their confidence, more sales, better responses towards the customer’s needs and getting more qualitative recommendations.