As trends tend to shift in this fast-paced world, businesses have to be adaptive, flexible, and up-to-date in a highly competitive market. The use of CRM systems is constantly growing. According to the Statista report, until 2021, these systems will bring much more revenue ($394 billion) through the adoption of AI. Indeed, we can just take a look at such major vendors as Salesforce or Oracle, who utilize AI capabilities to improve customer relationships by automated workflows and AI-powered predictions. Artificial intelligence deployed in CRM systems enhances human insights, automates tedious work, offering significant guidance to salespeople.
Digital transformation has changed the way enterprises do their businesses, especially when propelled with AI. Due to the exponential increase in data volume, companies are looking for new approaches that can bring real-time and effective business decisions. Let’s see what solutions AI offers to businesses, how it can predict user behavior, and amplify the effectiveness of CRM systems.
Nowadays, interactions with customers are carried out mostly remotely and virtually, which leads to misconceptions while interpreting customers’ emotions, intentions, etc. due to the absence of body language and facial gestures. Emotional expressions are actually indicators of how customers behave and what their intentions are. It is vital to analyze the sentimental state of your customers in order to understand their desires better and, consequently, develop robust relations with them. Artificial intelligence can solve these challenges to help sales reps gauge emotional states of customers and, therefore, adjust their speech. A good representative of AI-powered applications that can analyze conversations is Cogito. With in-call voice analysis, this tool guides salespeople to improve customer service and evaluate customer experience from the phone conversations.
If you give your customers precisely what they want, you will be a winner and probably close a deal. Your CRM system powered with AI has a huge potential to predict future customers’ behavior and their readiness to purchase by analyzing historical and real-time algorithms based on demographics, industry data, web behavior, and assessing successful deals or fails to score the best leads for sale. With AI patterns, you will get more accurate models on how to identify the buyers who are more likely to make a purchase.
There are so many inefficient daily tasks in sales reps’ lives that a significant amount of their time goes to handle them, rather than concentrate on revenue-generating activities. In this survey below, conducted by Hubspot, 21% of tasks belong to writing emails, and data entry takes up an average of 17% of the salesperson’s daily routine. When artificial intelligence powers CRM systems, sales efforts are complemented, capturing the complete customer lifecycle via chatbots, emails, or phone calls.
According to Juniper forecasts, by 2022, with the help of chatbots, annual cost savings will be over $8 billion. Amazing! AI promises the elimination of tedious data entry and optimizes routine tasks, which leads to increased efficiency of sales and marketing efforts.
The more personalized and targeted your marketing efforts are, the more chances you get to create great experiences. Whether these are personalized messages, tailored product recommendations, or website personalization - all these will deliver unique experiences to your users tailored to their needs and desires. Powered by machine learning algorithms, marketers are able to tackle personalization at scale.
If you would like to get even more tangible results while powering your CRM systems with AI algorithms, you might think about data integration with ERP software as well. Cloud-integration platforms such as RapidiOnline are the best solutions to reach this goal. For this purpose, your data must be consistent and high-qualitative. That’s why it’s so important to capture data from all touchpoints before integrating artificial intelligence in CRM and ERP systems.
You will get 360-degree customers’ view that will make AI tools predict and provide targeted recommendations in a much more accurate manner. So if you want to improve customer service, increase customer loyalty, and boost revenue, you are recommended to integrate your CRM and ERP systems and leverage the power of AI.