Artificial Intelligence and the future of CRM
For the uninitiated, Artificial Intelligence is when machines are able to simulate human intelligence and carry out tasks that require it. These include but are not limited to the perception of vision and speech, motion, learning and reasoning. A.I. surrounds us and we interact with it all the time, sometimes without even realizing it. On the internet, not only does it help us find the content we desire but also enables desirable content to find its way to us. It resides on our phones listening to our commands, deciphering our intentions and determining the answers to our queries. It makes our homes smarter, safer and more hospitable.
A Big data-driven resurgence
Despite having origins rooted in myth and fiction, rapid technological advancements over a period of less than a century have rendered A.I. anything but. The 21st century especially has been witness to a huge influx of interest, investment, and development. The rise of superior computing power, advanced algorithms, and cost-effective data storage capabilities can all be attributed to this A.I boom but perhaps one of its most significant drivers is big data. Businesses today are leveraging big data to understand customer behavior and preferences in efforts to formulate improved strategies. However, presently less than 0.5% of all data is being analysed and used (Forbes). This presents a huge opportunity to capitalize on this ‘wasted’ data by developing advanced analytical techniques based on artificial intelligence. This union of big data and A.I. is to most likely to have a huge impact on the future by enabling businesses to derive more value from their data.
CRM and Artificial Intelligence
You CRM is a treasure trove of pristine and useful data that A.I. can thrive on. The more organized your data and the more streamlined your data acquisition processes, the better. You will be able to connect with your customers on a whole other level and make informed decisions based on the most up-to-date data. The implications and benefits of A.I. for your business are manifold.
Let’s go over these categorically.
AI and Sales
Imagine dedicating your valuable time and resources into a lead that was dead on arrival. Frustrating, isn’t it? CRM analytics powered by A.I. can not only help you leverage predictive lead scoring to classify accounts based on their probability of conversion but also get insights into the factors that yielded such a segmentation in the first place. This will enable you to identify serious buyers and connect with your customers on a whole new level by tapping into data from past interactions and similar leads
AI and Marketing
Artificial intelligence can help marketers tailor highly personalized experiences for their customers. It allows them to be more proactive in their endeavors and opens up possibilities for campaign optimizations based on real-time website visitor analysis. This way they can engage the customer at the right time with the right content and are in a better position to persuade them. They can analyse the abundant customer data available across social channels in real time and gain a deeper understanding of their customers and how they perceive their brand. Similarly, they can predict the success of their marketing initiatives and campaigns and learn ways to refine them.
AI and Customer Service
With A.I. you can anticipate a customer’s needs without them ever having to pick up the phone. An A.I. driven CRM can actively and constantly monitor your customers’ status and can automatically trigger events and notify the right person based on these statuses, effectively eliminating any chances of a help-seeking customer slipping through the cracks. Moreover, it will empower customer service reps by providing them the right intel at the right time so they will able to respond to customer queries in a more informed fashion.
If you find the prospect of an AI-driven CRM enticing, you need not look any further than Salesforce Einstein. Salesforce Einstein is the first comprehensive AI for CRM, designed to help every business be smarter and more predictive about their customers. Powered by machine learning, deep learning, predictive analytics, natural language processing, and data mining, Einstein is infused across the entire Salesforce Customer Success Platform.
The Bottom Line!
The rise of AI presents businesses with a wide array of unique benefits and opportunities. It can empower them to provide better, more relevant experiences to their customers and forge bonds with them in a way that was simply not possible before. By changing the nature of work and creating a new relationship between man and machine, A.I. could double annual economic growth rates in 2035 and boost labor productivity by 40% (Accenture).
Rolustech is a SugarCRM and Salesforce Certified Developer & Partner Firm. We have helped more than 500 firms with various CRM integrations and customizations. Contact Rolustech today for your FREE consultation session. We will be happy to assist you.
Originally published at www.rolustech.com on April 16, 2018.