Artificial Intelligence (AI) in sales,is termed as the process of acquiring the knowledge held within the sales data and leveraging it with the help of computer algorithms. These might be in different forms such as applying machine learning to sales or CRM data, if-then rules, decision trees and logical reasoning. One of the biggest issues sales teams face is to combine their data for sales opportunities. This becomes very much time consuming specially for businesses who deal with data from multiple sources. Hence to solve this problem, AI can be used to transform data into intelligent insights regarding sales touchpoint, product and every customer needs. This will further help the sales team to work on data that provides real-time insights, is data driven and can be used to take necessary action required to have sales- focused conversations. In this article, we will discuss the role of AI in Sales and how to optimise the outsourced sales team.
Role of AI in Sales Management
AI- sales management approach is completely different from traditional sales management approach. In AI- sales, instead of pushing the sales team to start with a blank sheet of paper with zero knowledge regarding their customers, they are equipped with easy-to-read and actionable insights that can be ranked to derive opportunity value. Though deeply buried, this data is already available in your business.
Once you start integrating sales intelligence software in your business, users will automatically be notified to a particular customer that needs help or assistance. It is easy for outsourced businesses to increase their revenue with minimal data analysis effort by using opportunities such as swap-sell, up-sell, and cross-sell at the product level.
Key benefits of Using AI in Outsourced Sales Teams
Below mentioned are some of the key benefits that sales outsourced teams integrated with artificial intelligence can deliver to optimise and enhance your business.
Sales profitability-by leveraging the revenue growth – AI-guided selling not only helps to maximise efficiency by provisioning data insights regarding up-sell, cross- sell and switch-seel opportunities, but also streamlines the outsourced sales teams effort. It enables businesses to focus on the most lucrative opportunities, which can give the highest chances of conversion and can support to meet the revenue growth targets.
Sales retention-by enhancing customer satisfaction- AI-guided insights help outsourced sales teams to ask right questions at the right time to the target customers. The sales data extracted using AI and ML, can enhance customer satisfaction by reaching out to customers with relevant products that have a higher chance of getting sold. These insights can help outsourced sales teams to stay ahead of the competition and remove the bottlenecks to improve sales efficiency and retention.
Sales growth- by increasing conversion rate- The conversion rate for a product depends on what you are selling, when you are selling and to whom you are selling. With the help of sales intelligence data, these three check boxes can be accounted for and the outsourced team can gather the data points on a specific customer purchase pattern and behaviour. This empowers the outsourced sales team’s ability to sell more.
Sales efficiency- by automating tasks – One of the key benefits of AI in sales is to automate the routine recurring task and leverage your team’s efforts efficiency. According to a McKinsey report, more than 30% of the tasks related to strategy, planning, reporting, and order management for any sales team can be automated with the help of AI. With the help of sales automation in place, the outsourced sales team can pivot to focus on the overall business goals.
To conclude, artificial intelligence can help companies to optimise their outsourcing strategies and provide strategic advantage in the competitive global market. Organisations can streamline their processes, enhance overall efficiency and improve decision making by leveraging automation tools, data analytics and using machine learning algorithms. The integration of AI will not only help to enable real-time adjustments to outsourcing contracts, but also facilitate a deeper understanding of market dynamics and supplier capabilities based on certain performance metrics. With the adoption of these technologies, companies will soon be able to see improved cost efficiency and a more responsive supply chain catering to sustained growth and stronger partnership.