Is your CRM Smart Enough to Contribute in Revenue Generation?
The rapidly increasing competition increases the intense pressure on present day enterprises to become more pressure to become more agile and responsive to their customers. Most organizations depend a lot on their Customer Relationship Management to maintain a meaningful relationship with their customers. CRM enables organizations to develop business strategies based on their past interaction with customers and potential customers.
“The purpose of business is to create and keep a customer.”- Bill Gates
The tech-driven clients not only look for high-quality service but they also look for a hyper-personalized experience. Along with the personalization, the user experience of your customers has to be smarter, faster and in the right context.
This is a real challenge for enterprises and undoubtedly your CRM is helping your sales reps a lot to manage customer relationships and serve them in a better way. But sadly, while helping your sales team, it is eating up a lot of their time in data entering. A research done by Forbes in 2017 reveals the fact that two-thirds of a sales person’s time is spent in data entering for CRM which is undoubtedly a non-revenue generating task.
If you want to increase the revenue of your enterprise, you are to enhance your CRM to be an advanced one. Enterprises are integrating Artificial Intelligence powered virtual assistants with their CRMs to make it a smart CRM. An AI-powered CRM can automate the repetitive tasks of sales reps which makes them invest most of their time in closing deals.
Here are the 10 Reasons Why AI-powered CRM can be a Smarter Choice
- Smart AI assistant
Integrating Intelligent Virtual Assistants into CRM will provide enterprises with smart AI assistants. The smart assistants can automate customer response, data, email and can follow up with the customers at any given time. The intelligent virtual assistants can generate quotes, receive, send & reply to emails and also can coordinate meetings with clients efficiently.
- Train the Team
When CRM joins hands with artificial intelligence, it helps to plan strategic steps for teams and ensure that the team progresses according to the plan. It can also coach teams to decide on the content of replies to the customer emails.
- Get a Higher Conversion Rate
Intelligent Assistants have the ability to understand gender, location, purchase history, web behavior, past decisions, actions are taken and other attributes of the audience. Based on the learning, the AI-powered CRM software will be able to create personalized messages that will resonate best with the targeted audience. Such actions of CRM will boost the conversion rate of any business by targeting the right channel and the right time.
A white paper published by IDC shows the financial growth by AI assisted CRMs from 2017 to 2021. Let us have a look-
- Robotize the Routine Work
Artificial Intelligence in CRM can help enterprises to automate repetitive tasks. Such tasks consume a lot of productive time of the human employees. Activities like updating forecasts, determining call lists, inputting data etc. can be easily managed by AI CRMs. As an AI-powered CRM can learn customer’s references in a better and faster way, it can build a good relationship with the customers and close the deals sooner.
- Optimize Phone Experiences
The CRM powered by Intelligent Virtual Assistant can be a part of the sales team which can listen to calls and analyze voice patterns, word choice and other conversational dynamics and response to the customer accordingly. It can identify issues and provide insights to create personalized messages for the next follow-up.
- A better Follow up with Clients
The returning clients are the assets for any enterprise. The advanced CRMs are able to function like a human which can engage, nurture, follow-up, and cross-sell any product or service.
- Owns the Power of Speech Analytics
AI virtual assistants are not only multilingual but they also can predict the caller intent with the ability of speech analytics. The Intelligent Virtual Assistants of interface.ai can understand 100 languages and can work 24/7.
- Empowers the Marketing Team
The updated CRM can help the marketing team to determine the best person to contact to win an opportunity. Over time, artificial intelligence can teach itself to identify the personal or professional attributes that hold the most weight. With evolution, this will be a support system for sales and marketing teams.
- Targeting Clients Smartly
The combination of CRM and AI develops a quality of reaching out to the persons or companies who are showing interest in your business. It tracks the activities like downloading whitepapers, subscribing to blogs or newsletters and determines feedback processes, replies from customers, potential questions and can issue the best response to the customer. The AI assistant passes the lead to a human salesperson after analyzing the right time for the clients to proceed.
- Improves Customer Satisfaction
In conjunction with AI algorithms, companies can boost their customer satisfaction by offering personalized and quality service. With a user-friendly market strategy which is targeted at the right time and right context, companies can effectively boost customer satisfaction.Boosting Revenues and Driving Growth – AI + CRM
CRM is at the edge of transforming itself into a whole new and improved CRM by joining hands with artificial intelligence. When artificial intelligence integrates with CRM, it will make a business to produce more efficient services for its customers. Thus, this combination encourages the business to produce better revenue in each FY.
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