The successful B2B marketing and sales teams are striking the human-digital balance in three core areas: speed, transparency, and expertise. The technological advancements have enabled sales representatives to utilize the full potential of digital tools that drive sales. Post pandemic the AI has become an inseparable part of sales.
Artificial intelligence (AI) is helping companies boost their overall sales performance. That’s because it can automate and augment much of the sales process, enabling the sales department to focus on what matters the most- revenue!
AI is not just limited to chatbots, it’s more than that. It involves improving the buyer’s overall experience to help them make better and quick decisions. The data analysis tools, AI, CRM can work together to provide automation, augmentation, and supercharge the way for the salespeople to work.
Forward-thinking companies are catching on fast to get that edge to master their marketing and sales using AI. The vast majority of companies using AI plan to increase staff as there can’t be any replacement for human-to-human interaction.
Let’s see a few benefits of digital advancements for a B2B company.
Benefits of Digital Advancements
On the front end, data analytics offer a bounty of insights about the customer journey, and algorithms can analyze customer behavior to prepare the sales representatives for the best outcomes.
And at the back end, AI and other technologies can analyze the performance of the salesforce and help aggregate data about individual sales representatives. This provides the top management with insight into the skills, motivations, and practices that drive top performers, trying to imbibe the same qualities across salesforce.
Other prominent pros of technology on inside sales are mentioned below.
Stronger customer relationships
Since these technologies reduce the total time consumed on activities such as gathering customer information to determine needs, processing sales, taking product orders, and preparing contracts by automating them; the salespeople have plenty of time to build and maintain relationships with customers.
(Read more on: What is nurturing and how it improves sales?)
More time for selling
Sales representatives not only have to look after converting leads, but they also have to do other manual tasks as well. These tasks reduce the amount of time they are actually selling.
AI and technology have enabled sellers to focus more time on the preparation of the sales meetings, rather than entering data and lead sources into the CRM. The more selling time increases, the more revenues companies can generate.
Quick decision-making
AI helps salespersons identify customers’ pain points and arrange for solutions before calling them so they have less exploring to do over the phone. This also helps the prospects in making the purchase-related decisions quicker due to an effective communication process.
Since salespeople spend less time doing tasks at the top of the funnel, they have more time to devote to the main tasks such as negotiating smartly and closing deals.
Reduced costs
Once implemented, AI and digital technologies reduce the overall marketing and selling activity costs by automating lower-level sales activities that increase the sales efforts and productivity of the sales and marketing teams.
Optimized campaigns
AI algorithms can figure out and direct salespeople to the ideal campaign changes so they adjust to the customers’ preferences.
AI looks at specific details of past successful campaigns – alignment with product specifications, number of competitors, client’s ability to spend, territory, and timing. Based on this AI can also provide specifics on optimal pricing strategies.
Increased LTV
Determining customer lifetime value is crucial for salespeople to find out which customers will remain and who will leave their organization and most importantly, why?
AI can help sales teams to work on their customer relationships to attain maximum customer retention rate for their business.
Predictive forecasting
Based on historical data, AI can show you who is most likely to buy in the future. Most types of AI systems can predict common forecasts such as:
- Deals that are most likely to close.
- Which prospects to target.
- Customers who are interested in your business.
However, the accuracy of these predictions depends on the system being used and the quality of the data.
Digital has changed the nature of sales, and in order to stay in the competition, organizations must evolve to take advantage of the insights technology offers. There’s no doubt that AI is rocket fuel for inside sales. B2B sales leaders who are using the latest technology undoubtedly enjoy more growth opportunities than those organizations who haven’t embraced digital yet.
About FunnL:
FunnL is an intelligent B2B Lead generation platform powered by movingDneedle. Our people have been successfully generating leads for start-ups, companies offering Software-As-A-Service, and mid-size companies. Our team has a cumulative experience of generating more than 25,000+ SQMs across 2500+ campaigns. Contact us today to maximize your revenues.
