Artificial intelligence (AI) is one of the most talked-about new technologies of the moment. It is an innovative technique that is having a major impact on almost every area of business.
But also in other aspects of society we are increasingly faced with the applied knowledge of artificial intelligence. For example, in the design of sustainable houses and cities, self-driving cars, infrastructure, online shopping, smartphones and cyber security.
Even the sales department of a company can no longer do without this indispensable data, which can largely influence the sales figures. More and more organisations are putting a lot of effort into recording and analysing their sales data with AI, expecting this new technology to make their business more efficient and therefore more profitable.
What is artificial intelligence?
Artificial intelligence is a concept that is hard to imagine anywhere else. The term stands for intelligence in computer systems, which perfectly imitates complex human thinking. AI software can learn, reason and plan, for example. All processes that, until recently, were only reserved for humans.
This new technology makes it possible for computer systems to carry out tasks that require considerable intelligence and creativity. This computer software is capable of recognising, integrating and learning from new information. At the same time, the same processes are improved to solve specific problems.
In this way, the system achieves ever greater autonomy, allowing us to delegate more and more tasks and decisions. This makes artificial intelligence the technology of the future.
AI is all about data
Because of its unlimited possibilities, AI is a valuable development for companies. It is not about advanced robots taking over the world, but about the ability to process and analyse data in a highly targeted way.
For the system is not intended to replace people, but rather to enhance and supplement their capabilities. Due to the ongoing innovation, the term AI is also often used in combination with related concepts, such as machine learning. Improving performance on the basis of newly collected data, which opens up countless new possibilities.
This is why many companies are investing in data science, a related field, which focuses on extracting value from data.
In practice, the algorithm’s suggestions are more than 80% accurate, which really complements the gut feeling and routines of the experienced sales team. Hard data therefore supports the sales profession, which is naturally driven by human relationships.
Sales data AI as a strategic choice for sales teams
By automating processes that were previously only possible through human effort, AI technology is able to fully optimise the performance and productivity of teams. Most companies today are increasingly aware of the inexhaustible possibilities of interpreting data. By investing in this, a company can take full advantage of the benefits this technology provides.
By applying AI in sales to collect, analyse and interpret sales data, you can increase the chances of sales, optimise the customer experience or save costs. What does that look like in practice?
1. Sales data AI to analyse unused data
Trendskout's knowledge and experience of filtering value from data makes our AI software indispensable in sales. Sales teams do have access to piles of valuable data, but the system to analyse and interpret this data efficiently is often lacking.
Our advanced data analyses, on the other hand, provide concrete forecasts about customers and prospects. They analyse the many, often hidden details that are known within your organisation in CRM, cash register and administration systems, but which the human eye is not trained to detect.
2. Sales data AI to uncover hidden connections
The time you have available is limited. In order to achieve maximum results, you must handle that precious time with care. The right data is an indispensable aspect of this. But it is a hopeless task to filter those endless streams of data for relevant information in order to use them effectively.
By making connections based on the available data from different systems, AI software enables you to predict future developments and respond to them in time. With AI, many opportunities for improvement and growth are within reach.
3. Predicting and exploiting future actions with sales AI
AI looks forward as opposed to classical reporting methods, which mainly look backwards. For revealing the underground dynamics in companies is the key to predicting future customer behaviour.
By connecting data from thousands of data sources, AI is able to detect hidden patterns. This gives you a fairly accurate picture of the future, allowing you, as a company, to better estimate how sales will develop.
These AI-based predictions unmistakably demonstrate the power of business forecasting. Sometimes the technology is so advanced that it can detect the needs of your customers before they even realise it.
However, the ultimate benefit of AI lies in the fact that sales figures can be influenced. The function opportunity detection starts working with an algorithm based on the available data to reveal hidden opportunities. Often with spectacular results and new opportunities that might otherwise have been lost.
4. Estimating and minimising customer failure with sales AI
The algorithms developed are designed to reveal the buying motivation of your customers. The system reveals the decisive factors that determine whether a customer makes a purchase or reorders.
This impact analysis provides a better understanding of your company's sales activities. The AI system records all communication and contact moments with customers and prospects in the background. In addition, it automatically identifies possible triggers that could lead to customer failure.
Making the most of this data will give you the chance to get more sales out of your existing customers and potential leads.
5. Next best actions and buyer personas with sales data AI
Based on historical data in your database, the algorithm makes recommendations in the form of next best actions, which increase the success rate of a phone call or e-mail. This provides you and your sales team with a targeted guide in the sales process with existing or potential customers.
In addition, AI analysis of sales data forms the basis for comprehensive and accurate customer profiles, which support marketing efforts in the form of buyer personas. In other words, detailed personas of 'ideal customers' who represent a segment of your target group.
These customer profiles can therefore be used effectively for communication aimed at a specific target group. This makes your sales efforts more proactive and gives you more control over your customer contacts.
A business-oriented approach with Trendskout Sales Booster
AI for sales can be introduced in two ways:
- Via a classic, project-oriented approach
- With specialised AI software
Although they work very differently, both methods are based on the concrete business case for your organisation. Most algorithms are written completely custom-made, but AI programmes for existing software are also developed manually. Therefore, the final implementation is often a time-consuming task lasting several months.
With the Trendskout Sales Booster you will have a complete Sales AI software package, consisting of an umbrella system with many plug-ins. With these, we easily customise the software for your organisation. This saves a lot of programming, making it possible to implement the AI system for a concrete business case in just a few days.
Read more about the business case of Coeman Packaging.
Our accessible software not only offers a faster and more flexible turnaround, but also higher profitability. This makes it worthwhile to work with sales AI even for smaller projects.
Do you also apply Sales AI? Then we, as AI companies, will be happy to assist you. Contact Feel free to contact one of our employees.