Advances in AI Sales Effectiveness
If you’ve ever looked to improve sales effectiveness, you’ll no doubt have come across the concept of AI, or Artificial Intelligence, at some point in your research. Using clever algorithms that analyse your CRM data to identify prime sales opportunities and best practice sales techniques is not an entirely new concept, but there still appears to be an element of uncertainty around it.
And that isn’t at all surprising. Over time, AI has become a generic term in the CRM sector for a multitude of different sales enablement applications. Many providers have been quick to jump on the AI bandwagon and offer their take on these services, creating a complex array of products that are challenging to interpret and compare.
So, when searching for AI technology that will really improve sales effectiveness, where should you start?
Firstly, it is helpful to understand why AI has fast become the golden chalice when it comes to optimising sales activity.
Over the past decade, the customer buying journey has become an increasingly complex one. A greater focus on digital channels and online customer engagement have changed the traditional linear sales process to a more fragmented, multi-channel path to purchase.
Gartner’s illustrative Customer Buyer Journey, from their Future of B2B Buying research report, demonstrates the challenges of today’s sellers.
Whist CRM systems such as Salesforce, Microsoft 365 or even HubSpot give a good view of these interactions and activities, the volume of data generated from the many customer touchpoints, often makes it difficult for organisations to identify and act upon sales trends effectively.
Add to this the impact of events in 2020, which has accelerated the use and acceptance of online channels, and it is clear that organisations can no longer rely on manual processes to capitalise on their customer data for competitive advantage.
And this is where AI comes in.
Forrester’s Predictions for 2021 forecast that more than 60% of B2B sellers will be enabled by AI and automation in the coming year and over 35% of workforces will be enabled by AI, so now is the time to consider this technology if you haven’t already.
What is AI for sales effectiveness?
To help address the current multi-channel complexities and optimise sales effectiveness, AI applications that read data from your CRM system can be used to present insights into customer buying patterns, best-practice sales activities, and deal-health – enabling more focused allocation of time and resources.
These can offer a range of benefits including:
- AI-driven guided selling – using AI to decipher customer and sales data and recommend sales activities based on past sales successes
- Gamification – building competitions around leading sales metrics to increase win rates, improve employee engagement and drive up adoption of CRM systems
- Data-driven coaching – monitor team performance and assess individual need, to enable bespoke, relevant coaching and improved sales approach
This form of AI can be hugely helpful in ensuring sales teams are up to quota, motivated, engaged and focused on the most lucrative opportunities identified. This is functionality you should expect as a minimum from any AI sales solution provider and certainly sits at the very foundation of the Cloudapps offer. What more could you need?
Not all AI is the same
What if there was a type of AI that enhanced sales activity even further. Something truly personalised to your organisation, your circumstances, your customers.
For sometime now, AI experts across the world have been looking at ways in which technology can not only analyse data, but also learn from it – a term known as Machine Learning. Also grouped under the AI banner, this incredibly intelligent software mimics the workings of the human brain. It can read results, understand nuances and rationalise outcomes, learning from every interaction to improve intelligence and enable highly accurate sales predictions.
You would be forgiven for comparing machine learning and data analysis as like-for-like products based on their AI label, but machine learning is quite a step on from the sales AI tools currently on the market.
- CRM Sales effectiveness AI takes data from your CRM system and analyses it to give a set of specified results to act upon. You prompt the output and it delivers the analysis you request. This is Shallow Learning as it is based on learning with human intervention.
- Machine learning AI for sales effectiveness monitors sales activity and learns for itself, based on a set of defined parameters, giving an intelligent, up to the moment set of objectives to action. It prompts the output it believes will deliver you the best results. This is Deep Learning as it is able to learn without human intervention.
Previously reserved for projects such as automated medical diagnosis or the long-awaited self-driving vehicles, this technology has never been used to improve sales performance.
The next generation of AI
Cloudapps is the first and only provider of ‘Deep Learning’ powered AI in the CRM sector.
It offers a powerful sales development tool that can not only improve sales effectiveness in the here and now, but also continuously learn as the market develops – enabling organisations to futureproof their sales and CRM activities for whatever lies ahead.
The Cloudapps AI engine is unique in its ability to generate forecasts that are over 95% accurate. This accuracy comes from;
Learning from rich behavioural data: It generates a rich data audit trail for every deal based on high-value sales behaviours, not simply sales activity, and the more data you feed it, the greater the accuracy.
Uncovering insights from the deal journey: The data picture it builds is time-sequenced, recording not just which sales behaviour happened but crucially when.
Using the latest innovation: Not all AI is as smart. The Cloudapps AI engine uses the very latest ‘Deep Learning’ algorithms that significantly outperform traditional AI.
Cloudapps Deep Learning AI engine powers our current customers to achieve results that include:
- 95% forecast accuracy
- 60% more selling time
- 20% increase in win rate
Smart AI built for smart businesses.
We call that personalisation science.
So, if you are thinking about future-proofing your CRM and sales activities, then it is well worth considering an application that will bring richer, more continuous learning over time, giving you a competitive edge that is difficult to rival.
Why not challenge us to show you the power of the Cloudapps Sales Effectiveness Platform by booking your own live demo.