“I visualise a time when we will be to robots what dogs are to humans, and I’m rooting for the machines.” – Claude Shannon
Claude Shannon’s words here underlines the two strong feelings humans have towards Artificial Intelligence (and robots by default) – fascination and fear. The fascination is about the capabilities of Artificial Intelligence. This is because AI develops intelligent machines. AI Machines can complete tasks requiring human intelligence such as planning, reasoning, natural language processing (NLP), speech recognition, machine vision, problem solving tendency, etc. On the other hand, the fear about AI is of what the future with increasing Uptrend in AI would mean for humans. However, AI in the present is a boon to businesses like none other. Implementing AI to businesses; gives smart solutions to Smart Businesses.
With businesses getting more and more customer centric; CRM or Customer Relation Management System has become an absolute necessary. A CRM Software Development Company develops their own CRMs – custom made for a client or not customized. The data collected, and stored by CRM was then utilized while addressing any customer problems, and develop an emotional meaningful and long lasting relationship with customers by providing them highly personalized as well as faster experience.
However, while CRM enables this, it also requires the sales representatives to invest a lot of their time for CRM doing tasks such as data entering, making calculated decisions and strategies based on the data and etc. To save this valuable time, businesses today are opting to Implement AI in CRM. With lot of Uptrend in AI, integration of AI is quickly becoming a demand of the businesses which CRM developing companies need to fulfil. So, if you are wondering why AI in CRM? So, let’s take a look
10 Reasons To Implement AI In CRM:
As stated earlier, CRM normally collects data from all the past interaction with its customers. AI collects all the customer related data from all the digital interfaces as well as from various social platforms and brings it together to your CRM.
Understand Your Customers:
AI centralizes all the customer data within the CRM database. It interprets and analyses all this data, and is thus able to provide a complete understanding of the customer. AI also has NLP, which enables speech recognition, and thus it can read, and analyze what the customer is feeling, when they interact with and about your business.
Provide Personalized Marketing:
From the collected database, AI in CRM is able to infer all the details of a consumer - their purchases, their interests, buying preferences, buying patterns, etc. So, that based on this data, AI integration will analyze and predict for you the customer’s future buying behaviour, and help prepare a personalized marketing strategy.
Give A Faster Consumer Experience:
AI enables the CRM system to interact directly, in real-time with the customers with Chatbots. Chatbots enables customer to ask queries and enables quick responses. Businesses can feed in even put in automated responses. Not only that, based on the data available, AI can even enable provision of personalized answers.
Reduces The Workload Of The Sales Team:
There are chances that sales representative of your business misses some leads, or may be forgets a follow up, etc. AI in CRM can even act as a sales representative and carry out tasks such as sending the leads relevant messages through messages or mails. This shall reduce the workload of the Sales Team, and will be way more efficient.
Help To Automate The Everyday Workflow:
Along with customer behaviour, AI can with some accuracy, predict the dynamics of the market. Based on the insights obtained on market dynamics, AI can assist in lead scoring, lead segmentation, etc. and thus automate the workflow of the business.
Security Of System:
AI also can provide and assist in maintaining the security of your CRM system by constant scanning and analysing. It can thus monitor for any malpractices, hacking threat, any other flaws in the security of your system, etc; and suggest responses to fix them. It can also help in detecting malwares, viruses, bugs, etc
Satisfying The Global Customers:
When it comes to dealing with your customers who are overseas; language may become a barrier. AI within your CRM is multilingual (understanding about 100 languages) and can translate searches, listing titles, etc. so that your users can easily communicate with your business and vice-versa.
Improving Your Brand Value:
CRM enabled with AI provides 24/7virtual assistant for your customers, helps in higher customer engagement, helps in giving customized service, etc. and thus works great for customer nurturing and retention. It helps creating a brand value for your business in the customer’s mind.
Increasing Business Productivity And Revenue:
CRM integrated with AI, allows for a seamless coordination between the Customer support, Marketing, as well as sales team. This enables good lead formations and increasing sales closures. Also, customer retention too works towards increasing sales. Thus, the productivity and ultimately the revenue are improved.
These are the benefits AI provides if integrated in CRM and thus should be reason enough for AI implementation. Also, AI improves itself, and thus its performance can only expected to be improving. Businesses can improve with technology, and businesses should accept this and start implementing it.