Machine Learning is said to be one of the most advanced technology developments in the recent times. Both AI and machine learning have shown great results when it comes to reducing the time consumed. Machine learning is seen to be beneficial in all business areas be it finance,operations, or sales.
Here we talk regarding the sales aspect of business and how AI has affected this area. AI has managed to free the sales teams from manually intensive tasks through automated account-based marketing support with predictive analysis and also supporting account-centered research, forecasting and reporting.
There are ceratin interesting ways through which it can be seen how Machine learning has revolutionized Sales.
1. With the introduction of AI and machine learning, sales teams are now able to find the highest potential new prospects by matching data profiles with the most valuable customers. This has been possible through pattern recognition.
2.A guidance is provided to the sales and marketing teams through lead scoring and nurturing which is based on AI and Machine Learning algorithms. With the help of this guidance, Marketing Qualified leads can be converted into sales qualified leads thereby strengthening sales pipelines.
3. AI and machine learning can be seen to reduce the risk of investing in new selling strategies for new products. When in a single machine learning model historical selling, pricing and buying data are combined it leads to improvement in accuracy and scale of sales forecasts.
4. One of the most valuable insights by AI and Machine Learning is the ability to provide information as to which customers are going to churn or leave and who will renew.
5.In order to deliver great and solid results it is better to know the capabilities of the highest-achieving salespeople, and than selectively recruiting the sales team candidates who possess comparable capabilities.
6. When we talk about AI and machine learning based guided selling it is based on the following factors like predictive analytics. This provides recommendations to salespeople regarding products, services and bundles to offer at which price.
7. With the implementation of AI and Machine learning, sales team productivity can be increased by analyzing the most effective action and behavior that leads to more closed sales.
8. With the help of the data available through AI and Machine learning, sales and marketing teams would be better able to define a prize optimization strategy.
9. It can be seen that through personalization of sales and marketing content conversion of MQL's to SQl's is seen to improve. This improvemnet can be attributed to AI and Machine Learning.
10. Machine Learning can be seen to solve many issues including challenges of sales engineering scheduling, sales enablement support and also dedicating the greatest amount of time to the most high-value accounts.