The role of AI in the future of CRM
Whether you realise it or not, Artificial Intelligence is all around us. Who decides which movie you should watch based on your previous history? How does a cab get to your doorstep? How do music apps know which genre is your favourite? AI tools are whirring away consistently in the background, bringing ease and comfort to our everyday lives. Businesses and customer service aren’t far behind in harnessing the power of AI in their daily operations either. With Customer Relationship Management evolving from tedious excel sheets to personalised bots in the past decade, there is no doubt that we have entered the era of intelligent, integrated CRM. Today, keeping a track of your entire customer base and their needs is all but impossible without tech solutions. CRM systems have evolved to not only satisfy these two gaps but also provide greater precision and better predictions, be it with IoT, AI, AI-powered digital marketing or machine learning. The implications and benefits of A.I. for your business are many. Let’s take a look at our top three.
Make your data work for you.
The more data you feed into your AI tool, the smarter it becomes. CRMs today collect and break down customer data from sales, e-commerce activity, emails, social media and provide automated insights that can help build your next go-to-market strategy. The predictive analytics also help track sentiment and intent of customers, thus helping with recommendations and upselling which increases customer retention.
Empower your employees
The data from AI helps the salesforce focus on the most promising leads based on engagement. This data also helps optimise targeted e-mail campaigns using customer response history. Over time, the tools get smarter with an increase in data. As the software evolves, it effectively creates a system of continuous improvement for the sales and marketing teams. Though let’s clear the air once and for all – AI won’t take away jobs but will help team workers to be more productive. AI is a means to an end and not the other way around.
Get talking to your audience
Chatbots can automatically reach out to anyone who has shown interest in your business. The chatbot gives personalised first-level responses to the end consumer, thus helping streamline human intervention. These bots free up customer support hours for more critical and complicated tasks. Chatbots are also excellent at automating responses which helps reduce the risk of human error.
There is no doubt that AI has become an essential tool in the marketing industry, and for businesses who want to be at the cutting edge of their field, AI-powered tools are a necessity. Studies say that A.I. could double annual economic growth rates by 2035 and boost labour productivity by 40%. To take a look at how DCT has incorporated AI solutions in global business processes, click here