International Data Corporation (IDC) predicts the arrival of the real-time personalization of ads by 2020. This platform will be supported by smart AI-powered tools to bridge the gap between outbound sales development and inbound marketing –aligning sales and marketing goals.
Artificial intelligence is the top trending futuristic technology implemented for business functionalities across the sales, service, marketing, and customer retention. 90% of customers prefer associating with brands providing personalized customer experience instead of generic sales and marketing promotions. Over 80% of users are willing to share personal data to get enhanced personalization.
The machine learning algorithms analyze data, including past customer interactions, previous purchases, and browsing behavior. This information is used automatically to provide personalized recommendations that mapped to items purchased in the past, rather than to give a generic selection of items. AI automatically helps in refining the sales funnel to score leads using the highly intelligent tools for spotting the trends and patterns in customer data.
Sales software based on AI use predictive analytics to score leads allowing marketing teams to spend more time interacting with prospects to craft more effective marketing campaigns. After identification of filtered leads, AI also enables them to strategies and predict the cross-sells and up-sells by identifying the product or services that are most attractive to each lead. Revenue generation is expanded by cross-sells, and up-sells as marketers have 60-70% more chances of selling to existing customers as compared to only a 5-20% chances for the conversion of a new prospect. AI efficiently fills up the gap in knowledge, squeezing out more sales from each prospect.
Today marketers have a great opportunity to automatically change online marketing assets based on real-time interactions from users based on ML algorithms. Marketing messages, designs, and strategies are optimized to the most sellable version based on these feedbacks. All CMOs across industries have agreed to augment their customer service and sales teams with AI-based chatbots. AI helps to target the best customer personas with the ideally suited messaging to analyze buying stages, marketing channels by optimizing the entire process. AI scans the whole of an integrated database, from CRM to study customer orders to conversation intelligence and lead scoring tools.
Top firms are using AI to its optimum potential for a tailored customer journey with offers designed to maximize revenue while minimizing the sales cycle time and effort. AI is modifying the marketing theories and goals in meaningful ways by transforming technology, saving time, and uncovering new sales opportunities.