CRMs, or customer relationship management tools, are a big deal in the business world. CRMs are extremely valuable tools for business owners to utilize, and they are only becoming more and more necessary as time goes on. In fact, they’re getting easier and more accurate to use, thanks to artificial intelligence. Because of all that artificial intelligence can do when it comes to breaking down and magnifying the data in a CRM, IDC tells us that taking advantage of artificial intelligence in CRMs will increase global business revenue by $1 trillion dollars by 2021. How exactly does this work, and where is it helping?
Personalizing
When AI is incorporated into your CRM, you’re able to better personalize your interactions with each and every client. From email subject lines, to information about specific products or services, AI will help you to have all of the customer’s past information analyzed to determine what their future moves will be, when it comes to your business. You will be better able to write email and text content that will convert your customers individually, and understand their personal needs.
Sales
When it comes to sales, timing is everything. AI in CRMs helps make data more easily readable, accessible and understandable to both salespeople and clients. When you utilize AI in your CRM, it’s easy for a sales team to be sure they’re following up in a timely matter (or even automatically), to have information about the client more readily available for them, and to organize leads by most important to least likely to convert. On top of all of this, AI can even help salespeople to more easily track positive and negative responses, so they don’t have to deal with the headache of upsetting someone who has already been contacted and responded very negatively.
Targeting
Knowing who your customers are, and how to target them is everything when it comes to marketing your business. Using AI, you are able to get through all of your customers’ data (both past and preset) with ease, so you can easily determine who your target audience is. Of course, you could manually pick through your CRM and come out with similar data, but you have a business to run and that would be very time consuming. Thanks to AI, this can be done automatically for you.
Time
Timing is everything! You’ve heard it before, and surely you’ll hear it again. Whether or not a customer decides to work with you and your business, depends a lot on how quickly you reach out to them after the initial contact. Through their research, InsideSales found that customers are 100 times more likely to convert if they are contacted within the first 5 minutes. That sounds impossible to you now, but with AI in your CRM, it is actually very attainable. AI-powered communication can make it possible for businesses to have speedy response times, and in turn, higher sales numbers.
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