CEO Journal

How AI is Revolutionizing the Sales Process

E-commerce

Artificial intelligence has significant utility as a service, improving the efficiency and effectiveness of business functions such as marketing and advertising. Many tech-savvy employees and business owners are already aware of the benefits that AI has for lead conversion, but recent innovations have brought AI into more steps of the sales process.

This is especially apparent in the AI solutions that are now available for businesses after they generate a lead. Applying AI to the sales process not only helps with solving the challenges that sales teams face, but also with improving the customer experience.

Lead Generation

Today’s AI works like a powerful research tool that learns what it needs to know and compiles meaningful data from its findings. In the case of lead generation, it learns a company’s target audience and personalizes the marketing initiative to create more successful campaigns.

AI is also capable of finding insights within already existing sales data, which employees can use to identify new markets and shift their advertising efforts accordingly. Machine learning can identify patterns in the way customers shop and create relationships between consumers and products.

Targeting Sales

The more you know about your target audience, the better your product and service recommendations can be. If you allow an AI to access information about your customers, you can create more personalized sales pitches. Additionally, AI can work with the sales team to make more informed decisions about purchasing stock.

For example, if an automotive service center receives information about a failing replacement part, the AI software can alert the sales team to work with the supplier to alleviate the issue sooner. In the same light, AI can use this situation to create powerful insights about how the business was affected by this issue.

Lead Scoring & Compensation Management

Traditionally, sales representatives have to score through vast amounts of customer data in order to generate ranking lists. It’s a repetitive and time-consuming process that calls for a digital solution. This is where AI once again can not only run through this data faster, but also generate a better plan of action for companies.

Thanks to the Incentives Solutions cloud-based platform JOOPY, sales performance can greatly be increased through predictive and prescriptive analytics which provide companies with forecasts, simulations and advanced “what if” capabilities in order to obtain better insights on the lead scoring process.

Incentives Solutions is a leading innovator in Sales Performance and Compensation Management, helping customers increase Sales Effectiveness and Employee Motivation. Incentives Solutions is recognized as Visionary Company in the last Gartner MQ report for SPM, featuring its cloud platform JOOPY.com

Sales Representative Performance

Modern digital solutions can significantly improve the performance of sales representatives by solving many of the challenges they face on a daily basis. Companies such as Martal Group can route active prospects to your sales team or onboard new clients, taking a significant load off their back.

Thanks to Martal Group’s innovative solutions, we have seen significant market sales growth in North America. If companies continue with the convergence of modern software solutions and their sales team, there are significant benefits for all parties involved.

With the capabilities that AI has today for business, now is a better time than ever for companies to invest in these powerful digital solutions. There’s no telling just how powerful AI will become once it develops a larger presence in the business world.


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Boris Dzhingarov
Boris Dzhingarov, founder of Cryptoext, graduated from the University of National and World Economy (UNWE) in Sofia, Bulgaria with a Bachelor's degree in marketing.
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