AI for CRM: The Next Big Thing!

Technology is growing at breakneck speed, and with more than 5 billion connected and smart devices generating monstrous volumes of data, it is certainly a win-win situation to tap the enormous data out there.

Amidst all the emerging tech trends such as Internet of Things (IoT), Virtual Reality (VR) and Augmented Reality (AR), Artificial Intelligence (AI) is a buzzing tech trend that is already taking businesses by a storm. Artificial Intelligence along with cloud computing is creating a huge wave in terms of enterprise technology innovation. Since cloud renders us the ability to store gigantic amount of data on a unified platform with instant access to the same. With all this data up there, AI is proving out to be a mightier tool helping to connect the dots.

Similarly, AI powered CRM is a meticulously devised innovation to help a business become smarter and predictive about its customers, their preferences/interests and behaviors.

How does it work?

The AI-powered CRM solution upon receiving the data will analyze the same using intelligent machine learning algorithms to track and identify customer journey along with key metrics/events. AI here will help compare the data to spot striking similarities, differences and patterns of a relatively huge number of customers.

Going further, the system fetches all the filtered or structured data such as geographic location, service level, etc., AI based algorithms can be run to identify a customer’s previous interaction and/or experience with the brand.

Tracking a customer throughout his/her buying journey would help marketers and salespeople to understand as how they actually feel during the entire journey. Understanding the critical factors that help drive customer satisfaction levels can greatly help to curb a number of painpoints experienced by the customers during their journey. The information fetched will in turn help optimize marketing campaigns to make them more customer-friendly and target-oriented. Simply put, marketing people can leverage this data for coming up with more customer-centric marketing campaigns to help make the journey satisfactory and pleasing for their customers.

Also, AI can double up your efforts when it comes to processing and analyzing huge volumes of data. For example, if a lead successfully converts into buyer, all the information pertaining to a customer’s journey gathered by an AI-powered CRM software can help make accurate future predictions and suggestions.

AI is fast turning out to be a boon when it comes to automating key business operations. Likewise, AI-powered CRM solutions are helping businesses to be more predictive and intuitive helping them analyze customers’ preferences and needs.

Brace for smarter CRM systems that would help:

  • Automate activity capturing
  • Recommend next steps for sales reps
  • Discover underlying leads or opportunities in sales pipeline
  • Automate customer service processes
  • Predict precise close times for opportunities and leads based on past data

Takeaway

Remember the invention of tractors was not meant to farmers, but the horses. Likewise, AI won’t be replacing workers, but it will empower organizations by helping them focus on customer success in a never before manner.  In today’s connected era, AI is the perfect tool that offers an extra layer of results-driven intelligence to a company’s data mining operation.

We are living in an exciting era! It’s time that customers brace themselves for intelligent inboxes that would be capable of organizing on their own. On the other hand, rendering businesses with deeper and intuitive insights into every customer. Long story short, the nexus of CRM and AI is all set to transform every line of business making a business smarter.

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