How to Leverage Artificial Intelligence to Identify Sales Opportunities?
For any business, finding customers is #1 crucial job to do. Getting new customers onboard is the most time-consuming and resource-consuming activity carried out by sales and marketing teams. Often, business relies on traditional marketing methods to yield new customers and generate revenue. These sales processes are lengthy, and the conversion ratio is less compared to the efforts added in. It is necessary to understand the pain points that your sales and marketing team is facing to get the new customer. Here are a few sales and marketing pain points encountered:
- More than 60% of data is missed by the sales executive at the time of market analysis
- Not enough growth in the sales pipeline
- Difficulty in generating consistent qualified leads
- Lack of knowledge in capturing buyers’ requirements
- Limited marketing budget
Due to the above points, your team cannot project the sales forecast accurately and lacks visibility into opportunities. In addition to these points, existing technology is not apt for the sales team. Thus, can lead in the wrong direction for your business.
Leveraging Artificial Intelligence for Sales & Marketing
Leveraging AI-Based tool will transform your Sales & Marketing team’s pain points into touchpoints. In this article, we will be diving into the world of AI-technology to help you position your company as a potential solution-provider to your customer. AI technology will assist your company’s sales & marketing team to work effectively, save time, and sell more. It helps to engage with the qualified lead over email, chat, or even book an appointment for meetings directly. Each small or big organization requires personalized experience and perfect streamlined operations to succeed. Keeping this in mind, many organizations are investing in AI-powered marketing tools that are reaping benefits of customer satisfaction, enhanced user experience, and loyalty.
An AI-Enabled platform:
Why AI-Enabled suite to enhance your revenue? Lead generation is different for each business looking to sell their products, services. For each business, the market understanding, and the cost incurred is different. AI helps in providing the information required to your sales team looking for in a few clicks. All the repetitive market research tasks are finished in a systematic approach. It avoids time wastage and optimizes resources effectively. It will increase your sales productivity. Let’s have a look at how AI will help in transforming the sales processes:
- Ability to automate the routine process– Sales executive do a lot of manual research and analysis, which is a repetitive and time-consuming process. On the contrary, AI combs the massive mountain of data and does the complicated analysis with a personalized approach for your sales team.
- Analytical & Quantitative driven data- The data analyzed by the AI-based tool is qualitative and quantitative driven data. It segments data into the required format. The enormous data segmentation is done to provide all the information in the format that your sales team needs.
- Operational efficiency- Harnessing AI technology empowers your marketing team to work smarter and faster. It leads to align the marketing team to focus on improving work efficiency.
AI is now an integral part of the marketing and sales team if your organization is focused on enhanced customer experience and gets to solve their problems. As a sales executive, his research is based on the current market and customer requirements.
How to take your sales prospecting to the next level?
- Speed up your lead generation-
With AI capabilities, it is easy to find your customers speed up your lead generation process. Now skip the market research and start approaching potential clients with customized pitch. You can discover potential clients with the help of the “Company Search.” These are organizations with dedicated product or service requirements. As the target organization looking for the same product or service, you can pitch for a sales meeting.
- Streamline Your Sales Funnel–
The organizations looking for your product, service can traverse through the sales funnel. The transaction improves the conversion rate. It reduces the average time spent on every lead of the pipe.
- Stages of Sales funnel with AI-based –
In a business context- stages of the sales funnel is the process from initial contact to deal closure. In the above image, the sales team of your company can have systematic data for the market to expand. In a few clicks, the sales funnel automated and enable data for the work. So, AI- suite gives you filtered data and avoids leakages that occur while segmenting data. On a positive, the platform triggers opportunities to create revenue and yield results.
- Improve the sales pipeline:
The sales pipeline is the systematic approach, followed by the sales team of any business. It helps to understand the amount of business expected to receive in the upcoming year. It helps to increase sales visibility in the bottom line. So, AI-based tools can revamp the sales pipeline. The robust platform is connecting decision-makers and your team. Also, it empowers your team to create sales pitch opportunities in a short time. To avoid a draught, the sales team has the correct contact details to connect the right person. It will not only help you to save time but also optimize resources. There is a need to have a simple format when it comes to clients’ pitching. Now search for the right customer contact on an AI-based platform as well. There is a need to have a simple format when it comes to clients’ pitching. Your team can search for customer requirements on an AI-based platform, as well.
How can you identify low hanging sales opportunities?
1. Know your sales triggers:
If you want to have an efficient lead generation, then know your sales triggers. A sales trigger can help you to find the right type of audience that needs your product or services. So, there are a variety of triggers which can help you to find opportunities for your business: –
- Prospect is a willingness to spend on the product or service to increase his sales and marketing team productivity
- Your customers have received considerable funding
- If your customer is already using a specific set of top technologies related to your product.
Here is an example listed of sales triggers:
With the help of a filter icon, a sales executive can set triggers looking for a specific intelligence on their prospects.
20 Different types of sales triggers
We have listed the top 20 examples of valuable sales trigger events-
- Acquisitions- Acquisitions includes customer and business acquisitions done by any company
- Announcements– Get to know the companies that have any public statements or press releases.
- Bankruptcy– Know about the companies liquidating their assets.
- Competitors– Keep track of your competitor companies.
- Employment change– Get information about the employee who changed the job from one company to another. Or changed position within the same company. This sales trigger applies for the company set on your sales Radar
- Events – Immediately get information about events, webinars, conferences, or exhibitions, a company is participating in or hosting.
- Expansion – Know about the company’s expansion or new office opening.
- Finance – Get financial information about the company.
- Generic – Includes news like as Awards, Good/ Bad Quarter Announcements, New Initiatives, company relocations
- Hiring area – News about hiring for various positions & functions in the company taking place.
- IPO – Know about companies going public and listed on the stock exchange.
- Investment – Get information about the investment/funding acquired by the company.
- Issue – Know about the current problems faced by the lead and offer your services, which can help to handle it.
- Launch – Know about a new product, service or solution launch done by any company
- Layoff – Get the news about layoffs or massive job cuts held in the company.
- Legal – The company’s legal matters, court hearings, decisions.
- Partnership – In a partnership process, if one of the partner companies is your customer. Then it is an excellent opportunity to expand the business. Now gain more revenue with the help of your product and services.
- Patent – Any news about patents filed for Intellectual Property.
- Product Info – The company is planning to release any relevant info or news about its product or service.
- Re-Org – Any information about Restructuring or making changes in Organizational Structure.
2. Company Search:
Now, it is time to use the Company Search option to search for potential customers. Change search verticals via our intelligent filters, making every search hassle-free and relevant. With a restricted company database, it takes several days, months to close one sales deal. So, why not reduce the time spent on finding the right company and closing the deal? With this option, save hundreds of man-hours in chasing the potential leads. A well-oiled AI- suite helps to optimize the sales & marketing resources and generate revenue. Here is an example for the company search:
To automate the lead gen process, there are three main scopes of areas to be focused on:
- Market Research– More than 80% of the sales and marketing team spend time in this activity. To chase the continually moving market and lead, AI-suite completely automates the process. In short, the sales and marketing teams can optimize their time.
- Sales Intelligence– By now, your sales team knows who to sell the products, services. Sales team pitches to the right person by addressing solutions to his pain point issues.
- Correspondence– Only emailing to customers is not enough. Constant touch is required to keep things moving ahead — consistent communication needed with the help of AI-suite.
With the simplified platform, your sales team get a hand-on on the direct dials of prospects. Your sales team can call or message the leads directly. All the contact details are verified and updated. In short, with the verified contact details, your team can set up email campaigns easily. Also, your sales team can by-pass the anti-spam folders and reach your prospects’ inboxes more. With the help of the report function, you can check on the email open percentage rates, replies, forwards too. Get a detailed report on the clicks of each email campaign!
- The sales team can search for details through contact parameters in Contact Search.
- The sales team can search for details with the company parameters and technical landscape in the same window
- Click on the Search button or Save button to save the search. Upon clicking search details available in the contact page
There are many event marketing tools available in the market, yet it might happen that you may not get the exact tracking analysis. Now track any event across the world with an AI-based suite! Find the leaders attending the event and get in touch with him through email, call, or invite him on the event stall. Before the event starts, ask your potential customer for a meeting. Here is an example of how the event section works:
- Add the event that you are looking to attain and the end date respectively
- Ensure to have the twitter handle of that event
- Click Add Event
- The user enables us to view the tweets and followers of the event. Sales executive can get in touch with the concerned person attending
With the right sales strategy, it is good to embrace the adequate platforms combined with AI. The integration will not only hold you in the current market but also give a chance to enhance your sales. It is time to change your approach to selling and improve the chances of winning new customers. Whether you are a startup or an organization, the AI tool boosts the conversion ratio. We harness on the Artificial Intelligence platform to bridge for smooth sales conversions. Let us know what’s your biggest problem in enhancing the sales of your organization. Are you ready to turbocharge? Try out our free trial version today. Get in touch with us for what would you like to learn from Clodura, and our executive will contact you.