AI for CRM in 2017: Running Your Business Smarter
Artificial intelligence is not a sci-fi phenomenon anymore. It is real and slowly dominating the technology, with the purpose to make our lives easier and businesses operations - more efficient. According to Gartner research, by 2018 20% of business content will be created without human interaction.
Client relationship management industry doesn’t lag behind with leaders of the sphere like Salesforce presenting their solution - AI for CRM. It has a great potential in handling many time-consuming tasks. Ultimately, it is meant to lift the burden of mundane activities off the shoulders of the employees and let them focus on building a relationship with customers and have more space for creativity.
Quoting CEO of Salesforce Marc Benioff, “No one really knows where the value is,” and then he adds, “I think I know – it’s in helping people do the things that people are good at, and turning more things over to machines.”
So, how exactly AI for CRM can be helpful for businesses?
Taking over “paperwork”
In view of the fierce competition in the market, businesses are compelled to seek new ways of gaining clients, as well as devise loyalty systems to retain the existing ones. These activities call for much mental strain and a lot of time to work out well, but are often hindered by common processes and tasks like manual customer data input, responding to emails, scheduling meetings, managing invoices, regulating deliveries, etc.
Artificial intelligence can free up employees from their routine activities (Salesforce claims its AI to be saving their customers over 4 hours a week for manual tasks), leaving them more time to work on what matters most.
Better understanding of clients
In our “era of data”, companies are faced with loads of information every single day. While data collecting itself has now become much easier thanks to technology, its processing is far from being very effective when done manually. Artificial intelligence can analyze masses of data from all kinds of sources (like social networks, various databases, search engines etc), discover customer behavior patterns, which, combined with their purchase history helps understand which clients are likely to bring more profit or react to new products. This data will let improve marketing strategies, target campaigns more effectively and understand customers better.
Improving sales efficiency
Marketing strategy is most effective when targeted well and executed at the right time, and this is where AI can be very helpful. It not only effectively segments customers based on their behavior and history, but also can manage correspondence. AI for CRM can also effective at discovering the optimum time for interaction with different clients and sending reminders to get in touch with them. This certainly increases the productivity of sales staff, who don’t need to spend time for all of these tasks and can focus on their work to boost the number of successfully closed deals and build deeper and more trustworthy relationships with clients.
Let’s talk about how we can work together.
There is a particular bias towards artificial intelligence as a possible substitute of human employees, but in fact, it is far from doing so since it requires human interaction and training.
AI is also considered a prerogative of big corporations, but in fact it can be really helpful for small businesses, too. Implementing this technology can help keep the team smaller and save on hiring new employees for doing manual work. Moreover, in the conditions when each business is trying to outdo others, such innovation may work to the company benefit, helping to stand out of the crowd.
On the other hand, companies are apprehensive of the risks and difficulties with implementing AI for their CRM. However, according to experts, it is no harder than start using a CRM after just Excel and promises a lot for the trouble. Well, it is just the dawn of artificial intelligence, and its potential is just being researched, so stay updated.