Artificial Intelligence (AI) is improving many parts of the world, and sales is at the forefront. Understanding more about your customers and helping your sales team improve can happen more efficiently when there’s useful data available.
Not all data is immediately useful, but there’s no point in leaving massive amounts of information untouched. Here are a few ways that AI enhances sales and delivers insight.
Understanding Your Customer Through Automated Trends
Databases have already enhanced business by creating better ways to help your customers. At first it was all about making better call trees with names, numbers, and addresses, but now it’s so much more.
First, think about what current databases are doing for sales. Businesses can store a lot of these details about customers:
- Phone numbers
- Shopping cart items left in cart.
- Shopping cart items removed.
- Participation in sales and discounts.
With addresses, you can figure out if specific neighborhoods are more frequent customers than others, or if specific products are ordered more in specific areas.
Phone numbers can be used to find people who are from out of state, recently moved to the area, or–for telephone companies–possibly interested in getting a new phone number.
Items not bought may show interest and a need to make your offerings more attractive. Sales may show you the best prices, or the spending habits of customer. All of this information comes from willing participants, so getting into privacy concerns isn’t an issue at this point.
Artificial intelligence steps in by showing trends you may not have seen before. Maybe people with specific last names all shop at the same time, even if they’re at different addresses. They could be families!
Maybe completely different names and addresses buy at the same time, or buy the same items at the same time, or have other connections. They could be friends, co-workers, or otherwise related, meaning they could influence each others sales.
AI might not be able to tell you exactly why the data is related yet, but highlighting those trends brings you a step closer to making better decisions–and closer to helping AI tell you about relationships in the future.
Understanding Your Sales Performance
Evaluations, performance reports, metrics, report cards. They’re scary for many, and in sales, they can be a cutthroat and cruel issue.
For many sales teams, the dollar is what matters. Whether you’re bringing in the most clients, the most money, or some kind of potential that can be measured in dollars, what matters the most is how much money you can bring in.
That last part is key. One thing that saves a lot of performers from being cut is being able to argue their worth. While it sounds like a good trait to have, isn’t arguing a point better left to lawyers?
With artificial intelligence, machine learning, and better data analytics, the sales professional and their bosses can understand the big picture and specifics in better terms. Even if contribution doesn’t seem obvious, there could be something great coming from the person under review.
More information can be gathered and put up for display. Not just more data, but more context. In addition to looking at how the worker performed, AI can show what other parts of the business improved or decreased in relation to their actions.
That can be dangerous, especially if hotheaded leadership wants to drop everything related to failure. For that reason, individual sales professionals can use better data to show their exact actions, what they sold, how they sold it, and who they brought into the business family.
Better data means less reasons to argue and more opportunities to show off. Poor performers can get a second chance by seeing what they’re doing wrong more closely, and they may even find a better fit in the company if their skills or habits fit a different job.
The only people left out are the ones who don’t want to work.
Figuring out how software, services, and new technology can enhance your business can be tricky. It’s important to invest in the future, but a lot of technology can be an expensive waste–especially if you’re not using it properly!
Contact a business technology and artificial intelligence expert to discuss ways to integrate great intel with the way you do business