Companies are using artificial intelligence (AI) to increase lead volume, close time, and overall sales efficiency.
Forward-thinking businesses are recognizing the reality.
According to a Salesforce State of Sales survey, sales leaders expect AI usage to rise faster than any other technology. Salesforce has discovered that high-performing teams are 4.9X more productive when they use AI.
Since AI is automating, augmenting, and supercharging the way sales teams operate, with many real-world use cases and techniques being used now, AI provides practical value for sales teams.
Better Personalized Recommendations
Amazon and Netflix use artificial intelligence (AI) to recommend products and movies that you might like, making assumptions about your preferences in the same way that a fellow product or movie enthusiast might.
Customer Service Call Time Reduces
According to a recent report, sales teams currently using AI are reducing call times by 70%. AI assists salespeople in identifying needs and aligning options before making a call, allowing them to spend less time on calls.
Time to Close Decreases
Researchers discovered that while salespeople spend less time on duties at the top-of-the-funnel, they have more time to commit to bottom-of-the-funnel tasks like negotiating effectively and closing transactions.
Easier Pricing Optimization
The size of the contract, compliance with product requirements, number of rivals, client’s willingness to invest, territory, pacing, and influencers are all factors that AI considers when analyzing previous transactions won and lost. The AI will then have specifics on the best pricing.
Upselling and Cross-Selling Easily
Upselling and cross-selling activities are often concentrated on both of a salesperson’s customers. AI will assist in determining who is most likely to purchase more and when. Established clients willing to sign up for more or better options may be identified using AI algorithms.
Improve Customer Lifetime Value
AI will assist salespeople in determining the health of partnerships and directing them to those that need treatment and those in good shape. Some businesses employ artificial intelligence to accomplish this on a weekly basis, but it’s never too late to extend the lifetime benefit.
Draup is an AI-powered sales intelligence tool that provides full account and stakeholder knowledge to sales teams, allowing for microtargeting. With sectors across the world being disrupted at a rapid pace, sales teams are increasing pressure to obtain real-time and 360-degree knowledge about prospects, their digital efforts, technology investments, outsourced alliances, and ecosystem. Draup’s dual taxonomy-driven technique gives hyper-contextualized insights and aids in the faster and better closing of deals than ever before.