AI in Sales: 15 AI Sales Applications Use Cases in 2024

artificial intelligence for sales

Establish measurable key performance indicators (KPIs) to track progress and evaluate the success of AI initiatives. Addressing these challenges and considerations ensures a smooth and effective implementation of artificial intelligence in sales. Chat PG Organizations that proactively manage these aspects can unlock the full potential of AI and drive significant improvements in sales performance. In the next section, we will explore best practices for leveraging AI in sales successfully.

Various players are already deploying gen AI use cases, but this is undoubtedly only scratching the surface. Our research found that 90 percent of commercial leaders expect to utilize gen AI solutions “often” over the next two years (Exhibit 2). “Within my organization, Clari is being used to forecast sales and get an idea of what opportunities are coming up and how quickly they could be closed. It is a powerful analytical tool and an indispensable resource for our team today,” Kevin M. Second, AI aids in personalizing and automating customer interactions.

Artificial Intelligence (AI) is reshaping sales, transitioning from a buzzword to a core component of how sales teams connect, predict, and work. AI can enhance every customer interaction and leverage predictive analytics to spot trends early. Let’s explore how AI can become your team’s MVP, making your sales efforts more competitive.

What is AI in sales?

You can also better predict which leads will most likely become customers, helping you to focus your time and resources. Monitoring your sales team’s performance and providing them with additional training when needed to remain successful can be costly and time-consuming. Now, sales managers can leverage the power of artificial intelligence to keep an eye on team members’ performance and equip them with additional knowledge. Sales automation tools, even those that don’t use AI, are a vital part of many sales teams’ strategies. Adding AI into your sales automation strategy can help make your team even more efficient. Sales teams use AI-powered predictive analytics to evaluate data and make predictions.

artificial intelligence for sales

He advised businesses on their enterprise software, automation, cloud, AI / ML and other technology related decisions at McKinsey & Company and Altman Solon for more than a decade. He led technology strategy and procurement of a telco while reporting to the CEO. He has also led commercial growth of deep tech company Hypatos that reached a 7 digit annual recurring revenue and a 9 digit valuation from 0 within 2 years. Cem’s work in Hypatos was covered by leading technology publications like TechCrunch and Business Insider. He graduated from Bogazici University as a computer engineer and holds an MBA from Columbia Business School.

This data helps you further deliver personalized ads and relevant lead-gen content. In this section, let’s explore the objectives and methods sales teams can adopt AI for. I’ll share the key approaches and AI artificial intelligence tools to equip your team. AI tools streamline the sales pipeline by offering real-time insights and highlighting leads with the highest conversion likelihood based on historical data, such as engagement and lead source. For example, if leads from webinars historically convert at a 70% higher rate, AI will prioritize these for immediate follow-up, increasing deal closure rates.

Forward-thinking C-suite leaders are considering how to adjust to this new landscape. Here, we outline the marketing and sales opportunities (and risks) in this dynamic field and suggest productive paths forward. Sales engagement consists of all buyer-seller interactions within the sales process — from initial outreach to customer onboarding. There are two ways AI can help you leverage data and insights to streamline this process. Although most sales reps follow best practices and periodically run sales forecasts, recent data has found that the majority of sales reps inaccurately forecast their pipeline.

Our research suggests that a fifth of current sales-team functions could be automated. Artificial intelligence, specifically, provides several opportunities for streamlining and optimization. Artificial intelligence allows you to optimize this process by organizing and applying this data effectively.

For example, older CRM systems might not easily integrate with new AI technologies, leading to potential disruptions in sales operations. The solution involves updating current systems artificial intelligence for sales to be AI-compatible or adopting new platforms designed with AI integration in mind. On top of that, AI-powered sales enablement can redefine your sales communication process.

Wait any longer, and these deals are at risk of slipping away forever. Gong captures customer-facing conversations across email, phone, and web conferencing. It allows you to track specific words and phrases, so you can monitor talk track adoption. The bottom line here is that sales AI adoption continues to grow at a rapid pace. AI can help you prioritize leads and even make suggestions like when to follow up.

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I highly recommend HubSpot Sales Hub for businesses out there,” Gladys B. Aside from RFP solutions, AI can also be leveraged to improve sales enablement through sales intelligence solutions, sales outreach platforms, and even CRMs. AI’s value in sales heavily depends on the quality and availability of data. A common challenge is incomplete or siloed data, which can skew AI insights and predictions. Addressing this requires establishing comprehensive data collection and management practices to ensure AI systems can access accurate and complete data sets.

Rocketdocs is a platform that initially started as a sales proposal software but later evolved into a response management and sales enablement solution. The top use case for AI in sales is to help representatives understand customer needs, according to Salesforce’s State of Sales report. Your knowledge of a customer’s needs informs every decision you make in customer interactions — from your pitch to your sales content and overall outreach approach. However, crafting and submitting effective responses can be extremely time-consuming, considering that these proposals require a lot of data. Sales enablement in such an instance involves providing solutions to manage this process.

AI-driven sales dashboards consolidate and visualize sales data, providing real-time insights into key metrics and performance indicators. These dashboards leverage AI algorithms to uncover hidden patterns, identify trends, and generate predictive analytics. Sales professionals can monitor performance, track progress, and gain actionable insights to optimize their sales strategies and drive revenue growth.

This predictive analytics is done by analysing sales processes using a patented machine learning model. Dealcode determines individual factors that contribute to the success or failure of a sales team. In addition, to saving cost-intensive resources for complex data analyses. Artificial intelligence refers to the development of computer systems that can perform tasks that typically require human intelligence. These systems are designed to analyze vast amounts of data, learn from patterns and interactions, and make informed decisions or predictions.

In addition to immediate actions, leaders can start thinking strategically about how to invest in AI commercial excellence for the long term. It will be important to identify which use cases are table stakes, and which can help you differentiate your position in the market. You can foun additiona information about ai customer service and artificial intelligence and NLP. Thus gen AI represents an enormous step change in power, sophistication, and utility—and a fundamental shift in our relationship to artificial intelligence.

If you’re looking for an AI sales assistant, ChatSpot or Zoho’s Zia are some great options. Since then, millions of people worldwide have got their hands on this revolutionary technology. Almost every other AI tool today is powered by OpenAI’s GPT model, which is the brains behind ChatGPT. However, the downside of using ChatGPT is that you’ll have to copy internal information into the chatbot, as it doesn’t have the ability to access it unless provided.

AI in Sales: The Secret to Closing More Deals – Gartner

AI in Sales: The Secret to Closing More Deals.

Posted: Wed, 22 Nov 2023 18:50:45 GMT [source]

AI-driven sales automation tools automate repetitive tasks, enabling sales professionals to focus on high-value activities. These tools can automatically update customer records, schedule follow-up activities, and generate personalized communications. By reducing manual efforts and increasing efficiency, sales automation tools powered by AI enhance productivity and enable sales teams to engage with more leads and prospects effectively.

By leveraging AI in their workflows, sales reps can automate mundane tasks, generate high-quality content, and get their hands on data-driven insights to close more deals. Sales teams have typically not been early adopters of technology, but generative AI may be an exception to that. Sales work typically requires administrative work, routine interactions with clients, and management attention to tasks such as forecasting. AI can help do these tasks more quickly, which is why Microsoft and Salesforce have already rolled out sales-focused versions of this powerful tool. Inevitably, this will impact how you operate—and how you connect with and serve your customers.

For example, RocketDocs leverages AI to help its users build and manage dynamic content libraries. This tool surfaces relevant information when necessary, and even automatically pulls data from these libraries into proposals. This data https://chat.openai.com/ can then be used to easily pinpoint areas of weakness or underperformance. An estimated 33% of an inside sales rep’s time is spent actively selling. Administrative to-dos and meetings can pull these professionals away from prospects.

AI can’t handle complex problem-solving and human relations, so it has to be combined with a personal touch. Artificial intelligence is basically an umbrella term that covers several technologies, including machine learning and natural language processing. Without leads, sales reps spend precious time searching for leads instead of closing deals. For more info, please visit our explanatory article about lead generation.

Gong is a revenue intelligence platform that turns customer interactions into strategic insights, helping customer teams gain insights into market advancements. Did you know that 57% of sales reps forecast their pipeline inaccurately? That’s where AI sales forecasting tools like HubSpot Forecasting Software can help. Sales teams can use these tools to accurately forecast future revenue and monitor their pipeline. Hubspot’s Sales Hub is a robust customer relationship management (CRM) tool for salespeople and sales teams.

AI-powered sales assistants will become increasingly prevalent in the sales landscape. These virtual assistants will leverage natural language processing (NLP) and machine learning to provide personalized support to sales professionals. Artificial intelligence has emerged as a game-changer in the field of sales, revolutionizing how organizations engage with customers, optimize processes, and drive revenue growth.

Maximize your go-to-market team’s potential

Collect and analyze relevant data to assess the effectiveness and accuracy of AI-driven processes. Identify areas for improvement and optimization, and make necessary adjustments to fine-tune AI models and algorithms. Ongoing monitoring and optimization will help maintain the quality and reliability of AI-powered sales operations. Before implementing AI in sales, organizations should clearly define their goals and objectives. Identify specific areas where AI can make a meaningful impact, such as lead generation, customer engagement, or sales forecasting.

Analyzing dozens of calls that an IT sales department makes daily, artificial intelligence identifies intricate trends — like newer reps that often struggle to explain particular features. Rely on AI reviewing sales calls and interactions to identify areas of improvement and best practices. AI can analyze market trends, competitor pricing, and demand fluctuations to suggest dynamic pricing strategies.

Set achievable goals that complement your sales organization’s long-term vision. A balanced approach ensures you leverage AI’s strengths without overestimating its immediate impact. AI uses predictive sales analytics to enhance and fine-tune customer engagement.

As such, you’ll need to change how you position your products or services to influence their decision. AI also doesn’t have the kind of knowledge about your company that your reps do. That would be Dialpad—learn how it can help your sellers work more efficiently—and effectively. As with all business goals, you should ensure sales objectives are clear, attainable, and measurable. This is where AI technology can help, by automatically logging all of a rep’s activities, and then intelligently matches them to the right opportunity.

Social Selling Trends to Leverage This Year [New Data]

It is a cost-effective solution for our organization that helped speed and improve the sales process,” Aniket S. Zoho uses AI to extract “meaning” from existing information in a CRM and uses its findings to create new data points, such as lead sentiments and topics of interest. These “new” data points can then be leveraged across several use cases. That includes lead scoring, lead prioritization, and outreach personalization. For example, Hubspot offers a predictive scoring tool that uses AI to identify high-quality leads based on pre-defined criteria. This software also continues to learn over time, increasing its accuracy.

The problem is that sales reps often rely on “gut feelings” — they’re overly optimistic about which deals are likely to close. However, when this happens, sales leaders end up working with forecasts that are higher than they actually turn out. Equipping your reps with AI-powered sales tools is key to improving their sales performance. Artificial intelligence or AI encompasses a range of technologies, such as machine learning, deep learning, computer vision, and natural language processing. It allows computers or machines to perform tasks that traditionally require human intelligence.

Furthermore, AI considers a wide range of variables such as seasonality, economic indicators, and the impact of marketing campaigns to provide a holistic view of the sales landscape. Companies are using AI in all kinds of innovative ways to advance their businesses. Sales managers face the daunting challenge of trying to predict where their team’s total sales numbers will fall each quarter. Today, an AI algorithm could tell you what the ideal discount rate should be for a proposal to ensure that you’re most likely to win the deal.

It will suggest opportunities when sales representatives should follow up for upselling and cross-selling. This allows sellers to focus on closing deals rather than being occupied with finding information and tedious data entry, boosting sales productivity. Handshake, a career network for students, spends 66% less time on forecast-related activities per week after switching to Gong’s AI-powered sales enablement platform. Now they can get a full picture of their pipeline and create accurate forecasts within 15 minutes. Sales AI tools can analyze buyer interactions and provide reps with recommendations on what to do next to move a deal along.

Conversational AI for Sales in 2024

There are so many areas of sales where having an AI assistant speeds things up. For example, you can use sales artificial intelligence tools that tell you how often your competitors are coming up on sales calls. For example, our very own Dialpad Ai Sales Center offers live coaching, automatic call logging, and more—all in a unified platform. AI will analyze your sales reps’ actions and leads will be analyzed to suggest the next best action. No one wants to waste time on email setting up a demo, when they could be closing another deal. Through our partnership with WebFX, we also offer access to advanced revenue marketing technology as well as implementation and consulting services for sales and marketing technology.

artificial intelligence for sales

As more teams look to introduce this technology into their GTM motions in 2024, let’s explore the practice of AI-guided selling and its many benefits. Survey respondents noted they currently use AI-powered enablement tools for learning and coaching, content distribution, content analytics, content management, content creation and editing. There are still lots of people who can’t use artificial intelligence effectively. Okay, you might use plenty of AI-powered tools for various goals, but will you be okay switching from tab to tab?

  • By leveraging AI technologies, sales professionals can optimize their workflows, focus on high-value activities, and achieve greater efficiency and effectiveness in their sales efforts.
  • These top three use cases are all focused on prospecting and lead generation, where we’re witnessing significant early momentum.
  • By following these best practices, organizations can successfully leverage artificial intelligence in sales and drive significant improvements in productivity, customer satisfaction, and revenue growth.
  • If a sales team focuses too much on AI and neglects the human element in their process, they’ll be less effective, especially in areas like relationship building.
  • Conversational AI technologies, including chatbots and virtual assistants, enhance sales and customer interactions by providing personalized and efficient support.
  • Imagine a future where every decision is informed, every customer need anticipated, and every sales effort optimized.

Data enrichment is the process of pulling data into an organization’s database (typically a CRM) from third-party sources. The goal of this process is to create a more holistic, comprehensive, and accurate understanding of a prospect, lead, customer, or process. Artificial intelligence in sales can be leveraged in many different ways. However, here are five applications that can transform your sales process. According to most sales reps, digital transformation has accelerated over the last 3 years.

Zia can also automate repetitive tasks and take notes as users dictate. Of sales reps, 34% are using AI to get their hands on data-driven insights like sales forecasting, lead scoring, and pipeline analysis. Artificial intelligence (AI) and machine learning (ML) continue to push the boundaries of what is possible in marketing and sales. Given the accelerating complexity and speed of doing business in a digital-first world, these technologies are becoming essential tools.