In a business world where technology is continuously evolving at a rapid pace, it is difficult for firms to cater to customer demands.
Customer relationship management is a technique that can help organizations automate time-consuming tasks, and make the customer experience better.
Perhaps this is the reason that there has been an exponential increase in the adoption of CRM software in the last few years and the trend is expected to continue.
According to a research report by Gartner, the worldwide CRM market is expected to grow at a whopping 13.7% Compound Annual Growth Rate by the year 2021.
The popularity of customer relationship management tools is due to the fact that it reduces the administrative burden of the marketing department, promotes team collaboration and can integrate with any existing systems such as accounting software for the smooth transfer of data.
Customer relationship management is heading towards a transformational mindset shift in the last few decades.
Organizations are no longer relying on outdated manual processes and moving towards completely automated CRM software tools.
Artificial intelligence and machine learning are dominating the scene by ensuring seamless data management. Research by IDC and Salesforce reveals that AI-powered CRM systems have the ability to create more than 8,00,000 more jobs over the world and generate revenue in excess of $1.1 trillion by 2021.
There’s no doubt that companies need to incorporate artificial intelligence applications in their CRM practices to keep their customers engaged positively. Let’s check out five reasons to get artificial intelligence motored CRM software for your organization at the earliest:
Virtual Assistants Can Save Time
CRM systems with AI capabilities will give organizations the chance to rely on virtual assistants to enhance productivity at all levels.
This will help employees manage their schedules, meetings, work calendar and customer interactions in an organized structured manner.
Virtual assistants will ensure that your sales and marketing managers save time on annoying mundane tasks that eat up a chunk of precious time.
This will leave them with more time at hand that can be spent on strategic decision making and goal-setting.
Analyze Customer Emotions Effectively
Emotion and sentiment analysis is an emerging area – it means to gauge the feelings of customers so as to provide them with a better experience.
Artificial intelligence powered CRM solutions can utilize voice analysis and facial recognition technology to recognize the emotional state of customers.
Agents can be provided with required training so that they can slow down speech tone, give clients time to express grievances, and calm down agitated customers in an effective manner.
This ensures that your customers feel valued, and do not switch over to rival organizations due to lack of attention.
Better Customer Segmentation
Customer relationship software with AI capabilities can ensure that companies adopt a more granular approach in their audience segmentation.
Machine learning and intelligent automated algorithms can refine marketing segmentation techniques, and segregate customers on the basis of demographics, spending pattern, income level and past purchase behaviour.
Armed with real-time data, sales agents and marketing managers can use a more personalized approach and target niche segments to close more leads.
Customer segmentation is also a great starting point for preparing marketing campaigns, as companies can design curated content to target a specific set of consumers.
Simplify Lead Management
While it is not possible to replace human intervention in the entire lead management process, artificial intelligence in CRM platforms can go a long way in simplifying the process.
Chatbots and virtual assistants can easily engage, nurture, and follow-up with leads, especially in the initial stages of interaction.
Artificial intelligence applications can replicate real sales agents and start the interaction process by sending automated messages or emails to potential clients.
Once the lead displays a positive response, a sales agent can take over the customer touch point to close the deal with a more personalized approach.
Predictive analysis is an AI technique that will help in listing contacts or leads based on their probability to close a successful deal – this will aid agents to engage with highly qualified leads and push the sales pipeline!
Increase Ticket Resolution Through Customer Self-Service
Most customer service departments are flooded with ticket requests that consume a lot of their time and energy.
CRM software integrated with AI capabilities can quicken the pace of ticket resolution by providing clients with a knowledge database of common issues.
Customers can sift through the information to receive instant solutions to their problems, thus providing a win-win situation for both the organization and client.
Challenging or technical tickets can be redirected for human intervention, whereas any ticket that is a frequently encountered problem can be given an auto-generated response.
It is a great way to keep customers happy, as they do not need to wait for endless amounts of time on telephone queues and receive speedy service round the clock.
Artificial intelligence is the way forward and if you don’t jump on board by implementing AI motored CRM software; your business will surely lose out to competitors.
Author Bio: Maulik Dave is a digital marketer and content writer at SoftwareSuggest. He had experience working with different clients who’s in the business of Restaurant, App Development, Hotel management, and all. In leisure time, he’s a motorcyclist and would like to explore the beauty of nature.