Implement AI in the Sales Process to Increase Sales by 5-10%
It’s true: data-driven insights gained through artificial intelligence (AI) is a top sales trend for 2022. In fact, McKinsey found that 79% of marketing and sales teams are already achieving year-over-year revenue increases based on AI adoption.
Some of the benefits these organizations are seeing include:
- Insights - leaders gaining a 2-5% bump in sales because of data-driven decision making
- Agility - cross-functional coordination and teaming drive a 5-10% increase in sales
- Talent - behavioral science and analytics shape training and development, leading to a 10-20% improvement in productivity
- Technology - using the right digital enablers and processes set the foundation for continued growth and innovation
These are some stand-out stats, but what does the use of AI in the day-to-day sales process actually look like?
Ways to Include AI in the Sales Process
Forrester found that some of the ways sales organizations are leveraging AI-generated insights include task automation, analytics to increase coaching time, and insight-guided selling. Analytics also improves forecasting, so we included that here since it’s something every business strives to improve.
Automating routine administrative tasks so reps can spend more time on key selling activities is one way to implement AI in the sales process. Some examples of this include:
- The automation of data and activity documentation in your CRM is a common application, ensuring profiles are complete and up-to-date.
- Automated CRM documentation also facilitates automated reminders to be sent to reps, so they never drop the ball on scheduled commitments, meetings or follow-up activities.
- Another popular use is gathering prospect research so reps don’t need to spend time doing queries, freeing them up to get familiarized with their prospects prior to the call.
- AI sales assistants are also becoming increasingly popular, communicating with prospects in a human-like manner to pre-qualify leads and identify which prospects reps should contact next.
The purpose is to take the guesswork out of coaching by revealing where each rep needs the most help now. It might involve a specific skill that needs to be strengthened such as listening, or it could be a point in the sales cycle where the rep tends to struggle as shown when deals are consistently getting stuck in their pipeline. These insights also:
- Help identify best practices for management to share across the sales team or for onboarding purposes.
- Simplify self-coaching by helping individuals identify areas where they need improvement.
- Reduce coaching prep time for sales leaders, peers, and individuals by enabling them to quickly identify where to focus coaching sessions so they can spend more time in coaching activities, leading to faster improvements.
Pipeline analytics are based on the frequency and volume of activity at each touchpoint for every account and opportunity. These include things like email, voice call, and video interactions between reps and their contacts and reveal key insights such as:
- Deals at risk so they can be revived before it’s too late.
- Deals that are on track to close.
- Accurate forecasts to predict sales performance and revenue goals consistently.
B2B buyers prefer a digital-first buying experience that gives them a frictionless purchase path. This buyer’s journey generates mountains of data that companies must analyze and convert into insights so reps can meet them wherever they are in their buying process. This shortens sales cycles while improving customer experience.
AI is used to create insights based on actions such as content downloads, web page visits, email responsiveness, and outcomes. It then compares performance insights to buyer behaviors, demographics, characteristics, market conditions, and other relevant data points to generate next steps guidance to sales reps. This prevents hesitation and drives greater rep productivity.
Interested in implementing AI in your sales process? Book a demo with a member of our team to see the many ways Jiminny can help you leverage AI to realize its benefits.