How AI is Revolutionizing Sales and Marketing for Business Growth
Artificial intelligence (AI) is revolutionizing the sales and marketing process by empowering businesses to quickly adapt to changing buyer needs, personalize their outreach efforts and streamline the sales process for better results in less time. In this blog post, we’ll explore how AI is adding a human touch to the sales and marketing process, and how your business can leverage this powerful technology to drive growth and achieve greater success.
Insight selling is a sales approach that involves providing customers with valuable insights and ideas to help address their business challenges and opportunities. It aims to create a collaborative relationship between the salesperson and the customer, building trust and establishing the salesperson as a credible advisor. However, shaping the insight selling strategy requires a deep understanding of the customer’s business and industry, as well as dedicating time and resources to fostering these one-on-one relationships and sifting through the data and other metrics.
“With AI-powered tools, sales professionals can quickly gather and analyze vast amounts of data from a variety of sources that can be used to assist sales professionals in generating personalized, insightful responses to customer inquiries, enabling a more efficient and effective engagement process.”
AI and tools like ChatGPT have the potential to revolutionize the insight selling model by providing sales professionals with advanced capabilities for data analysis, predictive modeling and personalized communication that doesn’t lose sight of the human touch. With AI-powered tools, sales professionals can quickly gather and analyze vast amounts of data from a variety of sources that can be used to assist sales professionals in generating personalized, insightful responses to customer inquiries, enabling a more efficient and effective engagement process, and freeing up sales and marketing professionals to focus on higher-level tasks rather than spending time crafting individualized responses.
Streamlining the Sales Process
As per this Hubspot post, “An estimated 33% of an inside sales rep’s time is spent actively selling. Administrative to-dos and meetings can pull these professionals away from prospects. Artificial intelligence presents a compelling opportunity to improve this stat and level up your sales operation.”
As a way of automating lead outreach and identifying prospective customers, businesses are beginning to lean on AI-powered sales enablement platforms to assist organizations in actively selling product and closing deals faster by helping to automate workflows, capture insights from sales conversations and develop sales and marketing content.
“An estimated 33% of an inside sales rep’s time is spent actively selling. Administrative to-dos and meetings can pull these professionals away from prospects. Artificial intelligence presents a compelling opportunity to improve this stat and level up your sales operation.”
Take, for example, business email marketing, which entails not just writing the post, but ensuring that it adheres to best practices around subject line length, word count and other triggers to increase open rates and conversions. Then there’s the need to personalize each email based not only on segment, but on the specific customer or prospect. Compare this to how, based on your purchasing or viewing history, Amazon and Netflix curate book and content recommendations.
AI sales enablement platforms like jasper.ai are automating these tasks by providing sales and marketing teams with a vast array of writing templates and suggestions, resulting in the automatic generation of business email suggestions within a matter of seconds. These algorithms can be triggered by specific topics and provide recommendations for the tone of voice to be used, resulting in a significant improvement in optimizing business emails.
Another AI solution, Lavender.ai, provides a built-in “sales email assistant” that assesses and rates every email, identifying sections that require improvement, and providing guidance to users on how to enhance their communication and captivate the reader’s interest. Then there’s Gong.ai, the AI platform that can help organizations make sense of sales conversations.
“Harvard Business Review found that there’s a tenfold drop in lead qualification when reps wait longer than five minutes to respond, and a 400% decrease when they respond within 10 minutes versus five minutes.”
This article shared that “Gartner predicts that by 2025, 60% of B2B sales organizations will transition from experience- and intuition-based selling to data-driven selling, merging their sales process, sales applications, sales data, and sales analytics into a single operational practice. The stakes are high, given that suboptimal and delayed leads can have catastrophic effects. Harvard Business Review found that there’s a tenfold drop in lead qualification when reps wait longer than five minutes to respond, and a 400% decrease when they respond within 10 minutes versus five minutes.”
Maximizing ROI: The Role of AI in Sales and Marketing Enablement
By layering in AI for sales and marketing, it allows your organization to quickly adapt to evolving buyer habits and journeys. Real-time data provided by AI validates your messaging and enables easy tailoring of content to specific audiences or individuals, while also synchronizing outreach across all sales channels.
AI can be leveraged by sales and marketing teams to enhance ROI, drive conversions and accelerate the process of closing new customers. Here are three areas in which AI can help optimize sales opportunities, retain customers and shorten the sales cycle.
Sales Optimization: AI can help businesses expose upselling and cross-selling opportunities by analyzing customer behavior, email metrics and website page views. By leveraging this data, AI tools can easily provide service or product recommendations that are tailored to each customer’s unique preferences and interests. This not only helps businesses capture unrealized revenue opportunities, but also potentially reduces customer churn by keeping them engaged with relevant offers.
Customer Retention: AI can also help businesses re-engage with lapsed audiences by identifying customers who are at risk of churning and alerting sales teams to proactively engage with them. With AI tools, businesses can quickly and easily suggest products or services that can keep customers interested and encourage them to remain a customer. By leveraging AI to understand customer behavior and preferences, businesses can personalize their approach to customer retention and improve their chances of retaining more customers.
Sales Enablement: AI can also help businesses shorten the sales cycle by analyzing customer and competitor websites and social channels to identify trends and key messaging that can be used to accelerate the sales cycle and close deals faster. By automating the process of identifying relevant insights, businesses can equip their sales teams with the information they need to make informed decisions and close deals faster. In addition, AI can provide real-time sales feedback by analyzing a sales rep’s speaking style and tone of voice
Embracing AI: A Necessity for Future Sales and Marketing Success
The rise of AI is transforming the sales and marketing process, enabling businesses to adapt to changing buyer needs and streamline the sales process for better results in less time. AI tools like ChatGPT and content creation and sales enablement platforms like Jasper.ai and Lavender.ai are automating administrative tasks and providing sales professionals with advanced capabilities for data analysis, predictive modeling and personalized communication.
By leveraging AI, organizations can enhance their ROI by gaining insights into sales attribution, expose upselling and cross-selling opportunities, re-engage with lapsed audiences, and shorten the sales cycle through personalized customer interactions. In the coming months (maybe even weeks!), businesses that don’t embrace AI in their sales and marketing process risk being left behind by competitors that do.
Questions? Please email me here. As always, thank you for reading.