Reasons Your CRM Needs Artificial Intelligence
By Vatsala Panwar
CRM is at the heart of many businesses for many reasons. It is one of the fastest-growing software markets with a valuation of USD 40.2 billion in 2019. The market is also expected to grow by a CAGR of 14.2% from 2020 to 2027.
Of course, the CRM software already has an array of useful features and exceptional functionality that has made it increasingly popular. Many advanced technologies are enhancing CRM functionality empowering businesses to collect, manage, store, and centralize interactions more effectively and easily. And Artificial Intelligence has a major contribution to this.
More and more businesses are demanding AI-powered CRMs for more efficient data management, improved operations, and better customer experiences. For instance, AI-powered Zendesk implementations are transforming the way customer service teams work and thereby win customer loyalty. With AI's power, CRM efficiencies are expected to raise global revenues by $1.1 trillion by 2021.
Are you still confused if your business needs AI integrated CRM or not? Let's solve your confusion and help you make the right decision for your business. Here are a few important reasons to understand why AI is important for your business CRM.
1. Virtual Assistants
One of the biggest reasons for choosing AI CRM is it’s virtual assistant capabilities. AI-powered CRMs let you work with a virtual assistant that simplifies tedious workflows and accelerates the business cycle. The remote assistant technology leverages CRM data to manage in-office tasks such as notifying follow-ups in a CRM system, scheduling meetings, taking notes, etc. Moreover, the assistant can handle calls, interact with your customers, and help support agents in simple customer tasks. This helps you avoid human mistakes in your administrative obligations and ordinary undertakings.
2. Score the Best Leads for Sales
An AI-powered CRM can learn from historical patterns and past decisions that help generate better leads. It uses email bots and chatbots to identify client's needs and address the sales teams to optimize their processes.
CRM with AI integration can automate most of the analyzing needs. It is extremely useful in assessing and predicting the client's feelings or expectations, which can be used to provide the clients with exactly what they need, how, and when they need it. If you wish to increase your sales leads, you must invest in AI-powered CRM.
3. Easy Customer Segmentation
Customer/client segmentation is an effective sales strategy to target and attract customers effectively. But, the process seems tedious and time-consuming when information needs to be entered manually. AI-driven CRM makes customer segmentation relatively easier and faster, reducing employees' burden and saving their time. The intelligent CRM categorizes customers automatically and ensures your message to be delivered to a particular segment of potential customers.
4. Better Customer Engagement and Retention
AI-driven CRMs can greatly help in increasing customer retention and engagement. As mentioned earlier, they can analyze historical patterns and past decisions of customers and predict customer choices. Based on these advanced analytics and data, you can improve your services and actions to engage and retain customers.
Also, many tools like Zendesk Artificial Intelligence CRM can analyze customer conversations on telephonic calls and determine their emotional states and intentions using sentiment analysis. With these insightful data, you can identify potential issues easily and take informed action to respond to customers.
5. Increase Conversion Rate
AI algorithms can identify sales scenarios where deals were closed and rejected. They can also provide intelligent recommendations and useful insights during different stages of the sales funnel. This helps sales representatives in improving their next course of action and closing the particular deal. Moreover, AI-driven CRMs can greatly assist you in price-optimization. The intelligence algorithm can inform you what the perfect discount rate should be for a proposal, ensuring that you can close the deal.
AI-powered CRMs can collect historical information from customers. Based on this data, you can target the customers who are more likely to come back and buy again.
6. Speed Up Content Production
Content production is a crucial part of inbound marketing for attracting maximum leads. You need to produce high-quality content tailored to the interest of your target audience. And this can be a challenging task. Many AI-driven CRM solutions use automated Insights and help you create unique content based on templates, natural-sounding, landing pages, added data for product descriptions, client reports, personalized emails, reviews, etc.
On a Final Note
There could be more interesting reasons to integrate AI with CRM. Many of your competitors have been leveraging AI capabilities already and experiencing excellent outcomes. Now, it is your turn to consider embracing AI CRM solutions. The benefits of AI CRM will help grow your business gradually. But, only if you opt for a reliable vendor that offers the best AI CRM solutions.