- February 16, 2017
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Tips and Trends in the World of Artificial Intelligence and Sales Today
BY: GUEST BLOGGER
Good sales managers know that investing time in nurturing their sales teams results in a strong group of competent individuals. It’s certainly not a new development that in order to keep a strong, motivated team, sales managers must spend time on efficient training tasks and building up the overall experience of their team. However, according to a report published by the McKinsey Global Institute, salespeople spend up to 19 percent of their day searching for and gathering information. That’s 19 percent of the day that could otherwise be used to move a sale toward closing. Fortunately, we live in a time of major technological advancements, including artificial intelligence (AI).
AI improves efficiency for sales teams. Where a human would have to sift through complex data, an AI interface can pull the requested insights instantly, saving the sales team time and money. As you’re training a new team of salespeople, you can even monitor their actions to determine if they’re making time- and cost-effective decisions.
Using Artificial Intelligence to Strengthen Your Team
According to the Harvard Business Review, “Artificial intelligence will soon be able to do many of the administrative tasks that consume much of managers’ time faster, better, and at a lower cost.”
Here are two new apps that can help optimize your time:
- Conversica is a sales lead AI bot. Aside from sifting through thousands of potential sales leads, Conversica’s biggest strength is its ability to give you the time to nurture your team, which in turn enhances employee retention, motivation, and outstanding training and development.
- OpenWT is an AI software that allows your team to gain meaningful, detailed insight into your customer base. More importantly, however, it allows them to condense automatically-researched material into summarized reports so they can spend more time learning. Since it is an AI bot, it requires no training, saving you time and money.
How to Use Your Saved Time
Studies show that a devoted sales manager sees up to a 20- to 40-percent increase in revenue from their sales team. This increase lends itself to higher employee retention, because your team feels valued, in turn leading to less onboarding and less time training new employees. It creates stronger client trust in a reputable sales team that has more time to apply a human touch to their sales, thus leading to more conversions. AI isn’t the final answer to a sales manager’s problems, but it absolutely provides a way to resolve many of the mundane tasks on which they spend their time.
AI Versus Humanity
As beneficial as artificial intelligence is to the sales industry, it still is only effective as a tool to make a salesperson’s life easier, not to take over the entire job or learning process. Carl Landers, vice president and chief marketing officer of Conversica, says that this type of software “frees us from mundane activity and gives us more time to purse the real human activity that can never be duplicated by the machine.” While we can save time in the information-gathering and lead-driving stages, salespeople still need a winning personality and human interaction to close that sale and create a lifelong supporter of the business.
Chuck Bauer is recognized worldwide for his effectiveness at corporate sales coaching and consulting, having coached hundreds of business owners, salespeople, staff and C-suite executives from small, medium and large businesses. Most of his clients receive at least a 100-percent revenue increase, and some over 200 percent, as they work smarter, make more money and take more time off!