I have started to notice more talk lately about artificial intelligence and using it to help with sales generation. More companies are using marketing analytical data to better understand customers and their behaviors. By having a better understanding, a sales team is able to make better decisions based on past behaviors from clients. When we think of AI I’m sure almost every one of you thinks about your smartphones or Amazon’s Alexa that provides recommendations for its users. All of those devices use AI (algorithm) that make a recommendation based on your past purchases or search behaviors. The application for AI has become more prominent throughout the world and being incorporated even more as it becomes “smarter”. As companies start to see more use of AI in other applications they will start incorporating it into their business functions.
Lately, there has been a discussion about companies using AI to help with the sales process. Marketing analytics can help the sales process by providing insight into key prospects along with decision makers. Providing better discount rates based on past deals that a salesperson may have won or lost is how AI can help with price optimization. A.I. insight can also help generate quality leads and more leads in general. It has the ability to determine a prospects chance of being an actual client by compiling historical data, social media postings, and customer interaction history. With the access of more data salespeople are able to base their assumptions on more accurate data.
What Does This Mean for You?
As AI improves over the years more companies will be using it to help with sales and help businesses overall. Marketing analytical data will become more accurate and will provide better information when trying to win a possible lead.