The benefits of artificial intelligence are long range, they help in our personal lives, so it goes without speaking that it is going to affect our work lives as well. It is already changing how we will hire in the future, and you can bet that it is going to change the way that we sell as well.
Artificial intelligence is improving ordinary sales positions by improving the way that they are able to cold-call customers. The technology can be used to narrow down a list of potential customers to those who were already considering ordering the product or service, increasing the likelihood that a sale can be completed. A.I. is improving the chances that you will get someone to answer by selecting the best times to call each customer, and it also calls numbers that have already been tested by others. You will have an increased opportunity of someone answering your call, and you won’t be calling numbers that are no longer relevant to the individual. The final benefit is the most crucial, the A.I. will tailor the call script to the customer, versus having the sales representative use the same one on everyone.
This will help sales representatives complete calls faster, and ensure that they have a chance to complete a sale when they do have someone on the phone. This method is better overall for your representatives instead of them just calling old numbers that are on file, at random times of the day, and hoping that they would answer.
As Martin Ford, a futurist stated before, A.I. will be able to predict what customers want before they themselves know. Large businesses will be better able to cater to the needs of the individual and be able to market to them better. A.I. will be able to see what they have searched for, or what they could need based off of their previous searches or purchases to gather this information. The person will then get genuine, more catered suggestions.
Not only would they be able to give sounder predictions for what each customer could want, but they will also be able to market to them more efficiently.
For example, if someone were to buy dog food, the next time they pass an advertisement for a cleaning product, the ad could mention that all dog lovers buy their brand because of the safety reasons. The ad would be able to serve to each person that it passes by. Whether it would sell the product by using images of families, or if it turns into a picture of someone living the bachelor lifestyle. The technology would be able to customize the advertisements to each individual that passes, to sell a product best.
We can also take into consideration how it can affect the day-to-day purchases that a customer completes. Through the use of an A.I. algorithm, it would be able to tell the seller price point the customer would be willing to pay in order to complete the transactions. It would utilize past purchases that the customer took or did not take due to price reasons. The information could also be gathered through a survey in order to feed more information to the technology. This information would also be beneficial to those who work as brokers. They would be able to sell goods better because they tend to work with the same customers and would have a good history of sales or misses.
Alongside this rapid evolution of what A.I can do with our data, the legislation and privacy regulations are also evolving, but perhaps not quite as fast. Few of us really appreciate quite how much data is out there, nor do we really get how quickly an A.I can combine and profile this data from multiple sources to create profiles and preferences on which to base a sale. So although there are huge advantages to marketeers of an A.I approach there is also a potential risk of a consumer backlash that leads to a locking down of data and greater privacy restrictions if the public do not trust the way their personal data is handled.
Artificial intelligence is going to get smarter. There is no doubt about that. It is changing the way that we sell and market, and it is going to change the business sector in so many other ways. How this evolves will ultimately be up to how well public perception and trust is managed as the technology rolls out and becomes more embedded in every day life.