What Can Artificial Intelligence do for Sales?
- 1: Prospect More Accurate Leads
- 2: Predict Cross-sells and Up-sells
- 3: Augment Customer Service with Chatbots
- 4: Enhance Pitches with Predictive Analytics
- 5: Leave the Heavy Lifting to an Artificial Assistant
- 6: Achieve Higher Levels of Productivity
A sales rep is only as good as the time they spend selling. Let Sales AI take care of all non-selling activities so your reps can focus on revenue generation.
We already know that AI technology can drive vehicles, but did you also know that it can drive sales?
AI has been around for a while now, but its applications have been relatively low before the pandemic hit in 2020. Companies that use this automation save a lot of time and money. In turn, this allows sales teams to remain competitive in today’s world. Sales AI simulates human intelligence processes via use of computer algorithms to help your sales reps out.
Artificial intelligence in sales can increase selling hours by not only automating tasks, but also improving daily productivity and analyzing habits. It also helps companies close rates, boost lead volume as well as the overall sales performance. This leaves your reps free to focus on what really matters – revenue.
The good news is that forward thinking companies are already catching up to this fact. According to a State of Sales Report from Salesforce, business leaders expect sales AI adoption to balloon faster than any other technology. The research also shows that high performing sales teams are almost 5X more likely to be using AI than underperforming ones.
Minor Misconception on Sales AI
However, one misconception a lot of people have is that AI is replacing people.
It’s understandable, but it turns out that a majority of companies using AI Sales Assistants are actually plan to increase staff.
This is because artificial intelligence is creating value for your sales teams by augmenting, automating, and super charging how we work. There are already several real world cases and tools being used.
Unfortunately, there’s so much hype around AI in sales that most sales reps tend to miss the fact. But you can’t blame them in the slightest. They have numbers to hit and are dealing with a lot of commentary that AI is aspirational and impractical.
In this post, we’ll look at what AI Assistants means for salespeople. Along with a few ideas on how the tech can help them hit and exceed their quotas.
What are AI Sales Assistants?
Artificial intelligence is a wide, umbrella term covering a broad range of different technologies. These include computer vision, machine learning, deep learning, natural language processing and more. At their core, all these sales technologies assist machines in performing particular tasks as well or even better than a human.
Take self-driving cars for instance; they use AI powered computer vision systems to detect obstacles allowing machines to take the wheel. Others voice assistants like Siri can understand words and respond appropriately. So while there may be plenty of complexities to the different types of AI, many of them can impact your sales career and performance in insightful ways.
In addition to automation, AI takes things even further by analyzing data sets. They then use advanced computer science and superior computing power to extract insights, make predictions, recommendations, and calculated decisions. When it comes to Sales AI, machine learning powers the more impressive capabilities. It identifies patterns in large data sets to make predictions which only improve overtime, even without the involvement of humans.
Now picture all this speed and power applied to a sales and marketing technology! You get sophisticated Sales AI that can scrutinize prospect and customer data, and predict leads most likely to convert. They can also forecast results, optimize pricing, and recommend a list of critical sales action to take plus much more.
As we move forward to 2021, there are so many technologies terraforming the landscape. It’s time for sales to jump head first into the fray and stay ahead of the curve. So, how can sales AI help boost your sales in 2021?
What Can Artificial Intelligence do for Sales?
If you’re looking to boost sales, taking advantage of AI tools will definitely help you be faster and more efficient. When all is said and done, accelerating your sales comes down to having the most data. Information that can be instantaneously analyzed and converted into actionable strategies. As we established earlier on, a sales rep is only as productive as the time they spend selling. Here are a few solid examples of how Sales AI can help boost your sales.
1: Prospect More Accurate Leads
Typically, potential leads are sources from a wide range of channels including Google and Linkedin. Social selling has proven useful in generating more inbound queries for data. Unfortunately, it’s often tough to determine which prospects are actually ready to make that buying decision.
But with Sales AI and predictive analysis, you can assimilate customer data like demographics, corporate backgrounds, and more to craft defined buyer personas. By making use of similar customer profiles already in your database, it becomes that much easier to make comparisons. And identify which characteristics point to a likely sale.
This artificial intelligence assisted process increases sales since your follow up closing ratios tend to improve. That’s because your teams will now be working with highly accurate data right from the get go. No more dead calls or bouncing emails with the right Sales AI.
2: Predict Cross-sells and Up-sells
Your sales AI is highly effective at identifying leads most likely to convert. Similarly, it’s also able to predict up-sells and cross-sells that a sales team is more likely to achieve success with for each individual prospect. By analyzing previous interactions or sales with leads, machine learning software can predict which products and services will appeal most to your leads.
Naturally, this eliminates all the guesswork that your sales teams have to do when it comes to cross-selling. It also cuts down the risk of annoying your existing customers. Which is easy to do with over-the-top cross-selling of commodities that they really aren’t interested in.
Research shows that there is a lot of revenue to be made in this type of selling. Your teams have a 65% chance of selling to existing customer compared to a lowly 15% chance for new leads. Unfortunately, a lot of companies are not taking full advantage of these opportunities for cross-selling due to a lack of understanding. AI Sales Assistants fill in the gap and squeezes out sales out of each and every single prospect.
3: Augment Customer Service with Chatbots
Here’s a pointer that literally frees up your sales reps so they can carry out more selling activities. No matter how effective your sales messaging maybe, leads will at times want to talk to someone before making their final decision. Or at least feel like they’re communicating with someone.
In this case, Sales AI provides a highly effective substitute that is more efficient than a real human operator. It’s also available 24/7 even on weekends and holidays. Chatbots can carry out simple conversations with prospects that would otherwise hold a sales rep attention span and alienate them from more important tasks.
By producing a quick and timely response to customer queries every time, you increase the levels of customer loyalty, potential leads, and number of interactions. A state of sales report show that 56% of sales teams admit that acquiring new customers and growing leads as their top sales objective.
The same sales report defined Sales AI as the top growth area for sales teams. So not only do Chatbots help create valuable, new opportunities, they can also speed up the sales processes exponentially.
4: Enhance Pitches with Predictive Analytics
Whenever customers shop online and add items to their cart, they instantly get recommendations for related products. The best thing is that the customers never knew they needed these products. But once they get recommendations and products that go with their purchase, chances are they will add the items to cart and purchase more.
With Sales AI, you can track all your customers purchasing habits. This will in turn allow the system to predict what each user is most likely to show interest in or buy. The AI automatically knows what to sell since it has been following your customers closely. If it were your sales reps, it would take them a very long time carrying out research and interviews to learn what your AI can in minutes.
Try to gather as much insight as you can based on customer preference. With relevant data, you can go ahead to develop a tailored, personalized pitch before even meeting with a prospect face to face. Sales people understand that your pitch is what will lure in or chase prospects away. With Sales AI, you’ll always be a few steps ahead of your customers which will help build client relationships, earn recommendations and increase sales.
5: Leave the Heavy Lifting to an Artificial Assistant
Picture how life would be if all your messages were automated, calendar automatically updated and populated with back to back meetings by an unpaid assistant who works 24/7. Imagine how many deals you could close each day without missing even a single opportunity.
Sales AI is your new trusty assistant. It even goes as far as filling out your CRM systems every once in a while saving your sales reps a lot of time. This in turn saves your company a lot of lost revenue that can now be used to train new sales reps and upgrade your data entry tools.
AI programs generally tend to have voice controlled virtual assistants who can record information for your reps from any device. They will also spark conversations with your reps and ask them all the right questions for thorough data analysis.
6: Achieve Higher Levels of Productivity
Although it’s physically impossible for people to work 24/7, this is the challenge in today’s fast paced world of sales. The more you can stretch the number of working hours, the more you stay ahead of the competition. Our to-do lists are becoming endless. Crunched with limited time and an increasingly demanding lifestyle jam-packed with responsibilities.
This is where AI comes to the rescue. It’s machine learning aspect lends itself and performs 24/7 while you sit back and make the final call without having to work any longer than you have to. So, how exactly does this increase your sales?
Well, it all boils down to more hours actually selling and less busy work. While your AI program is working around the clock to analyze data and give you fresh insights and leads to follow up later on, your sales teams are building relationships, closing leads, and finding some sleep at night.
Here’s a great article from SBI: Harness the Power of AI-driven Tools
Sales AI Conclusion
Sales AI and other related technologies are getting more and more prevalent in the world of sales. And as we mentioned earlier, a sales rep is only as good as the time they spend selling. If you bombard your team with non-selling activities, even the best sales rep will be unable to hit their quotas consistently. But take the busy work out of selling and you’ve got a well-oiled, sales machine that won’t quit.
If you’re looking for an AI powered sales solution, look no further than Veloxy. Veloxy empowers your sales force with artificial intelligence to shrink sales cycles, close deals faster, and exceed sales quotas consistently year after year. Veloxy sales AI gives you full analytics and reporting, and automates all non-selling activities. This cuts down on lost leads and so much more.
There’s already plenty of research to support this. Businesses which commit to getting their workforce to collaborate with AI have more chances of success and long term viability to survive upcoming AI disruptions across various industries. Join the sales artificial intelligence bandwagon today with an AI Sales Assistant system like Veloxy.
Veloxy’s Mobile Apps and Inbox Extensions use AI to provide sales teams with relevant information for their next task depending on factors like where they are at the moment and the context of their current objective.
But remember, you need to get your organization AI ready if you want optimum adoption from your sales teams. If you’re not sure how to do that, check out or article on getting things ready for an AI sales assistant.
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