A business’s success is measured by the satisfaction and happiness of its customers. And to achieve the same, businesses have to ensure that their products or services meet the expectation of their customers. Another thing they have to focus upon is to render support services for managing interactions with the existing as well as potential customers. Here is when you need CRM or Customer Relationship Management software.
Be it product-based or service-based, CRM is demanded by almost all the companies in the world. And like any other software, CRM is also undergoing major changes driven by Artificial Intelligence. Yes, the organizations want an AI development company to develop CRM software with AI capabilities so that they can get automate clients’ outreach.
Considering a report by a global market research company, IDC, AI-powered CRM has the capability to generate approximately 800,000 employment opportunities worldwide. Moreover, it also has the potential to make $1.1 trillion in the next GDP impact in the upcoming year. Here is why AI needs to be injected in your CRM:
1. Works as a virtual assistant
Having a CRM powered by AI will help your workforce to complete their jobs efficiently and flawlessly. From managing calendars, making phone calls, scheduling meetings to tracking work, an AI-enabled CRM will help them automate many manual tasks. CRM includes tools for listening & note-making, recording calls, collecting transcripts, highlight references to different phrases, set up meetings, and more.
2. Helps in organizing business leads
Your AI-driven CRM can help in simplifying lead management by becoming the first point of engagement between the customer and your company. The tool can send promotional emails or text messages at first and then hand over the qualified leads to the sales representative. This will not only increase output (sales) but will also improve the quality of interaction by delivering a precise message from your business to customers. So, you don’t have to fret over the missed leads caused as your sales executive forgot to follow-up.
Various search tools that come up with AI integration also help in generating leads from different platforms where the potential customer shows purchasing interest. Another tool named predictive analysis will help to filter the customers based on their engagement and previous purchases. This will provide your sales representatives with more qualified leads that can be turned into your customers.
3. Delivers smart customer self-service
Your products or services need customer support to solve the queries or provide guidance to customers. More the number of customers seeking support higher would be the need of support providers. An AI-driven CRM can help you deal with this situation by delivering easily understandable solutions to common problems. With this, you would be able to handle more customers’ queries, which will bring you a step closer to achieving customer satisfaction.
4. Tracking past data and segmenting customers
With AI-enabled CRM, you can improve your customer segmentation process and bring out desired results on the basis of their previous purchases, demographics, interests, etc. Moreover, you can also forecast their future behavior and send them promotional emails or personalized messages encouraging them to purchase your products or services further. It is quite simple that more targeted customers, instead of a large group, you approach higher will be the chance of a conversion.
5. Increases customer engagement
CRM with AI capabilities is capable of creating and delivering customized interactions and experiences by examining the tone or pattern of the conversation. With this technology, you can even know about the satisfaction or dissatisfaction of customers using your product or service.
Considering the benefits of AI in CRM, it would be no wrong to say that the technology has a sharp future in this domain. Both contribute to boosting revenue and attain business success. If you want to develop an AI-enabled CRM for your business, then hire AI developers from one of the most trusted IT services providers, Quytech.