Artificial intelligence is supposed to be the next big revolution in technology. We wanted to discuss how it could be of value, not just the apples and the Google of the world, but to you as well. So gather your sales team, grab that morning cup of coffee, get comfortable and learn the tips and tricks of the sales industry right here at MakeAnApp.
So let’s get into it and talk about how AI can help you and your team in shortening your sales cycle
Welcome to MakeAnAppLike – Where future billionaires come to get inspired. While many argue that marketing is an art, where marketers rely on their instincts, advances in data science have a resolution in this domain in a big way. An increasing number of marketers today rely on AI insights drawn from complex machine learning models to better their chances of converting leads to sales. In this article, we will cover how AI can help to increase sales.
The connections that brands create with people are increasingly valuable assets. One of the keys to the current market is that, although connections may be weak individually, they can become very powerful if they are accumulated in support or channel. Therefore, knowing how to boost the consistency of a brand’s emotions through artificial intelligence means taking a step forward in growing as a company.
Why are personal connections with consumers so important?
As explained by neuroscience, an individual’s decisions start from emotions. It is easier for the brain to choose alternatives when they say something about us and satisfy us internally. As individuals, we like the product or service. And also it is very effective to mouth to mouth marketing.
Annual Review of Psychology
Vol. 66:799-823 (Volume publication date January 2015)
First published online as a Review in Advance on September 22, 2014
https://doi.org/10.1146/annurev-psych-010213-115043
Emotion and Decision Making
There are a lot of connections in the minds of consumers that individually may seem relatively trivial but together may be hindering or enhancing the emotional connection with the brand. The brain quickly identifies what is satisfying and what is not.
As an example, the case of a restaurant whose brand expresses itself emotionally affiliative in 59% of cases was presented, quickly connecting and making the brain understand that it is an open and relaxed brand, more playful or calm to adapt to different consumers without betraying to his personality. However, 41% of the activity can be reviewed (eliminating, minimizing or modifying), which would improve its results. For this reason, it is important to know how to reach consumers emotionally; artificial intelligence has become a great ally.
There are four critical ways through which AI can be a game changer for your business.
- AI can help you derive details customer insights.
- AI can help you leverage predictive analytics to improve lead quality.
- AI can help you avoid missing out on any up-cell across-cell opportunity.
- AI can help with email personalization.
1. AI can help you derive details customer insights.
Looking for the right prospect that will be interested in making the purchase is often a very time-consuming process. But with the application of AI algorithms, there are in sync with the bar persona, help in improving the number and quality of these leads. At the same time, it empowers sale representatives to form meaningful relationships with beliefs.
2. AI can help you leverage predictive analytics to improve lead quality,
Stating the obvious, you can feel as many needs in the sales pipeline as you want. But that doesn’t really help the business if the sales aren’t qualified. Although many tools and practices are used to qualify leads as marketing or sales qualified, the best way to go about it is to make use of AI tools to look at historical success trends, the criteria, and the way each prospect fits into that criteria. This makes sure the leads filling the sales pipeline are the best fit to engage with and have a high probability of making the purchase. So moving on to point
3. AI can help you avoid missing out on any cross-cell opportunity.
Although highly essential to a company’s revenue, upsetting and cross-selling often lags a well-defined process to be made use of. Therefore, they often go neglected and are a lost opportunity for revenue. AI provides insights in this regard by helping the sales teams predict what prospects are more likely to buy so that they can spend more time and resources on more valuable clients.
4. AI can help with email personalization.
The general rule of thumb for sending sales emails is that the more you personalize, the higher the chances of making a prospect move down the marketing funnel. However, when time is of the essence, which let’s face it, it normally is a helps in this process too. Using AI and lease scoring can help you ensure you’re only spending time in personalizing emails for value lies.
Using AI and Machine Learning to increase retail sales
Without AI or ML, there is no scientific data to tell us whether the observation is true or not. We should have a more scientific to increase sales. Artificial Intelligence helps businesses to increase sales, without cross-selling or upselling, but by actually selling the right products to the customer.
When selling the right products to every individual buyer. Here AI comes to help with a solution that would benefit customers and our stakeholders.
- AI can help to recommend the right product based on the current cart or previous purchasing.
- In a retail environment, it’s always hard to cross-sell most customers. AI helps to collect data through machine learning, for store managers to determine what to cross-sell and whom to cross-sell.
- AI also provides some insight outside of the recommendation. For example, the unit per trip actually quite similar to the menu excel calculation. The data also gives us a percentage of how many products someone buys or should buy each time. which would also enable us to strategize up selling more effectively.
- AI Retail assists to understand more about shoppers’ behavior. We estimate that 20% boost for the business once we know what we should cross out, there is a higher chance that the customer would take the recommendation
AI looks at two different sides. One is on the customer side, and the other one is on the stakeholder side.
AI On the customer side
A trained AI and ML know what customer wants, and we can recommend them some relevant products so that they don’t have to struggle with a basket to get the second product, which actually helps to minimize unwanted crowd inside the store.
AI For the stakeholder
It’s not only about selling the product. It also helps them to strategize what buyers need to order and the quantity they need to order when it comes to purchasing. For example, like what I’ve said, if they are buying a dish wash bar, AI knows that there’s a higher chance that the same buyers will buy the Antibacterial Scrub Pad like Scotch-Brite. So AI helps recommend the right product and plan ahead.
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