Wouldn’t it be nice if life were more automated? Thankfully it is. Before we start panicking that robots will steal our jobs, let’s focus instead on how robotics and AI can improve our jobs. Some industries (like sales) depend on personal touches, but there’s more to sales than just a phone call.
The best sales tend to stem from lengthy research. When aspects of research are automated, an algorithm can quickly identify buying trends. Data extracted by AI gives a more rounded picture of a sales target than old school methods. Decisions can be made based on data rather than hunches. This efficiency can cut the time ordinarily spent at the top of the funnel.
The same way travel companies use an AI algorithm for setting airfare prices, sales companies can use AI to customize price proposals for the most advantageous deals. AI can also be helpful in determining whether a customer is likely to go for an up or cross-sale. Sometimes the cross or upsell with the wrong target can end a deal in its tracks. Reliable forecasting can fix that.
Sales organizations that resist the imminent AI advances will likely struggle. Historically the sales industry is slow to adapt to big tech changes. As more companies digitize operations, the days of cold calling will become extinct. Even today, many corporate email and phone systems have machine learning in place to screen out unwanted solicitation.
Companies that embrace AI will reap its rewards. Consumer buying choices are already largely effected by AI. An algorithm determines what streaming choices are best suited to our tastes. Our phones know more about our buying choices than we do. Tracking pixels embedded in web pages generate retargeting that aims to get you to buy that thing you were looking at online. Organizations with the highest level of customer satisfaction are doing so by pivoting their sales strategy based on machine learned data.