How to get started with AI

Currently, 40% of sales activities can be automated, with the adoption of AI by sales teams expected to grow by 139% in the next three years, shared by Momentum Data. As this statistic suggests, AI is taking off, becoming more prominent in business, and more critical to consider adopting. In this article, we will look at how you can get started with AI to generate more revenue, lower costs and grow your business.

What is AI?

Artificial intelligence (AI), is the intelligence of machines or software that can perform cognitive functions that we associate with human minds, such as learning. AI is a game changer for various industries and is powering sales teams to surpass their targets. Some examples of industries that are using AI are:

• Healthcare
• Finance
• Manufacturing
• Insurance
• E-commerce
• Cybersecurity

Leaders’ Thoughts on AI

With AI rapidly growing amongst businesses, and evolving constantly leading to new possibilities, industry leaders have shared their thoughts on both their concerns and optimism about the future.

• “It’s hard to overstate how big an impact AI is going to have on society over the next 20 years” – Jeff Bezos
• “If AI can do most of their jobs better than humans can, we need to figure out a way to share those resources so everyone has a good life” – Sam Altman  
• “AI is one of the most important things humanity is working on. It is more profound than electricity or fire” – Sundar Pichai

Why businesses are adopting AI

Businesses are increasingly adopting AI for sales due to its transformative impact on customer engagement, data-driven decision-making, and revenue growth. The integration of AI technologies empowers sales teams with advanced tools to enhance their effectiveness and efficiency, ultimately resulting in improved business outcomes. BusinessDIT shares that businesses that are using AI have been able to increase their sales by up to 50%. Key reasons for this adoption include:

• Enhanced Customer Insights: AI enables businesses to analyse vast amounts of customer data, providing valuable insights into purchasing behavior's, preferences, and pain points. This allows for highly personalized interactions and tailored solutions, leading to improved customer satisfaction and loyalty. Discover how customer service can be used as a competitive advantage.
• Predictive Analytics: AI-powered predictive analytics helps businesses forecast sales trends, identify potential leads, and optimize sales strategies. This proactive approach enables sales teams to focus on high-potential opportunities and allocate resources more efficiently.
• Efficient Lead Management: AI-driven lead scoring and qualification processes automate the identification of promising leads, streamlining the sales pipeline and allowing sales representatives to prioritize their efforts effectively.
• Automated Routine Tasks: With AI handling routine tasks such as data entry, appointment scheduling, and follow-up communications, sales teams can dedicate more time to building relationships and engaging in strategic selling.
• Real-time Customer Interaction: AI-driven chatbots and virtual assistants provide instant responses to customer queries, ensuring 24/7 engagement and timely assistance, which is crucial in today's fast-paced business environment.
• Improved Sales Forecasting: AI algorithms analyse historical data and market trends to generate accurate sales forecasts, enabling businesses to make informed decisions and allocate resources appropriately.
• Competitive Advantage: Early adopters of AI in sales gain a competitive edge by staying ahead of market trends, delivering exceptional customer experiences, and making data-driven decisions that optimize revenue generation.
• Scalability: AI technologies can handle large volumes of data and interactions, making them well-suited for businesses aiming to scale their sales efforts without compromising quality or efficiency.
• Continuous Learning and Adaptation: AI systems continuously learn from new data, allowing businesses to adapt their sales strategies based on real-time insights and evolving customer behaviours.
• Cost Savings: By automating repetitive tasks and streamlining processes, AI helps reduce operational costs and increases the ROI of sales initiatives.

How to get started with AI

To get started with AI, you must identify your sales goals, and then analyse the different AI tools and software that is on the market that best suits these targets. Examples of what these targets can be are:

• Increase lead generation
• Increase sales
• Enhance forecasting accuracy
• Better understanding of customers

Once these targets have been identified, it is time to compare the options on the market:

• Automation and Customer Relationship Management (CRM) Systems: Implement AI-powered CRM solutions that can analyse customer interactions, predict buying behaviour, and personalize sales approaches.
• Chatbots and Virtual Assistants: Integrate AI-driven chatbots to engage with customers in real-time, answer queries, and gather valuable insights from conversations.
• Sales Analytics Platforms: Utilize AI-based analytics tools to extract actionable insights from sales data, helping you make informed decisions and refine your strategies.
• Predictive Lead Scoring: Leverage AI algorithms to assess the likelihood of a lead converting into a customer, enabling your sales team to prioritize high-potential prospects.

The software you choose should be scalable, cost-effective, and have a short onboarding process. An example of software that matches this criteria is TEB Apps.

Drive your sales results with TEB Apps

TEB Apps is a rapidly growing automation and CRM solution that is empowering businesses to boost their sales, revenue, and grow their business with cutting-edge technology. TEB Apps is implementing advanced AI features into the software to has businesses reach their potential through unique automation features, fast onboarding processes and great post-implementation support. Key benefits of TEB Apps include:

• Drive sales with efficiency – Automate processes like lead assigning, billing, invoices and more to win more sales with unrivalled efficiency.
• Lower operating costs with fewer processes – By automating time-consuming and costly tasks like billing processes, you will be able to lower your operating costs while boosting your revenue.
• Turn customer service into a competitive advantage – TEB Apps will give you valuable insights into your customers with storyboards to help your service stand out in the market.
• Make data-driven insights – Support your decision-making with insights from accurate forecasts and reports, all of which can be created with a few clicks of a button.

Now is the time to level up your business. Book a quick demo with us where we can show you all of these features, and more in action.