The evolution of shopping
Imagine you had to buy a coffee mug in 1978. Those were the days when you needed to call the shop in advance, to check whether they were open or they stocked your specific choice. You had to inquire before leaving your house if the shop was away from you. Yellowpages sometimes helped you find the contact number, but you didn’t always have an updated version of the book.
Jump straight to 2018. Where shopping for coffee mugs to industrial carpets, everything is just a few clicks away. There is no longer a need for you to call in advance nor do you need to bother visiting shops. The entire plethora of options are available on the internet.
Today, you can give specific instructions about what shape, color, material and budget you have in mind. While you also get to plan the delivery. It is like a personal assistant who kindly takes your instructions and works accordingly, giving you customized options to make a choice.
Artificial Intelligence every day
‘The personal assistant charade’ is precisely what people think about Artificial Intelligence. AI is believed to be something futuristic, out of a sci-fi movie that produces holograms and politely converses with you. There is a possibility of these expectations coming to life, but the current reality of AI significantly differs.
Artificial Intelligence plays a significant role in our daily life. From Chabot conversations on booking tickets to receiving personalized, automated emails based on our online behavior, the impact of AI knows no bounds. The ever-expanding world of science and technology has changed the game for each industry.
AI in sales
Sales and its entire spectrum of pipeline CRM, sales forecasting and sales automation are stated to be the among top industries that are lead by AI. Forbes predictions about how AI will impact sales in 2018 is a testament to the fact that it shall remain on the highest notch of the hype cycle this year. It shall continue to become more useful and practical each year. Automating countless jobs and augmenting others, while also finding a balance between machine learning and proliferation of chatbots in the industry.
AI and its magic will continue to change our lives in the coming years.
Here are six ways that AI will impact sales and marketing in 2018.
1. Emotional intelligence
AI’s ability to analyze and predict online behaviour is an astounding feat in science but can a lifeless bot process emotions? The ability to understand feelings and alter the response in accordance is a human trait that is hard to replicate in machines. However, predictions state that emotional intelligence is one of the top priorities in AI development for 2018.
The interpretation, simulation, processing and recognition of human emotions would become a part of every AI system and device. Decoding emotions would amp up market research and pave the way for deep learning. The growth of sentiment analysis is expected to increase the market to $44 billion by 2022. Firms like Google, Amazon, Apple, and Facebook are rushing to decode emotions by investing billions to the cause.
2. Change social media patterns
It is somewhat ubiquitous that social media drives consumer behavior more than anything. AI processes your behavior and predicts it by giving you customized options that you cannot resist. If you were speaking about a specific holiday resort to a friend the other day and suddenly, the very same location pops on your social media with discount deals, that is precisely how AI impacts social media marketing!
Instagram marketing is one of the latest marketing tactics companies utilize to boost sales. Celebrity endorsements such as Kylie Jenner wearing Fashion Nova are targetted for a specific audience. The subtle advertisements of today work far better than the over-enthusiastic ads of yesteryears.
The audience today wants immediate feedback. They rely on the reviews by social media influencers. A product advertised on social media is likely to generate more sales. Market segmentation has made it easier for AI to manipulate adverts to the targetted audience.
3. Improved customer service
Holistic consumer-centric customer service is precisely what companies need. Proper pipeline CRM can do wonders for your company. Gartner predicts that 85% of all customer services by 2020 would not depend on human interaction.
There are not enough ways to explain the importance of CRM. Naturally intuitive systems that do not require a lot of training while also making use of analytics and integrations is essential. You must invest in a company that understands your goals and provides customized services. Flexibility and the ability to enhance productive behavior would smooth the glitches in your pipeline CRM. Better customer services would, in turn, create brand loyalty and help you reach your sales goals for the term. Whether its to add a signature to email or a unique feature, your CRM should leave an impact on the customer.
4. Data insights made easily accessible
According to a source, 61% marketers call AI to be the most reliable source of data strategy. This statistic clears any doubt one could have about AI’s influence on marketing and sales. Hiring a full-time, in-house data scientist is hard for most businesses. It is not only expensive, but it is also cumbersome. AI can get this job done within a fraction of the cost. It’s a remarkable capability of diving into consumer behaviour trends, and market data insights is a win-win deal for you.
A closer look at Google’s Analytics Intelligence is an ideal example of how little to no prior training can help you understand the data. You can find solutions by merely asking the correct question.
5.Progression in NLP
Natural Language Processing is the computer’s ability to understand, analyze and generate human language. Thanks to this feature you ask Google or Siri to tell you about the weather today like a natural conversation between two human beings. Instead of calling out words disjointedly.
You don’t just shout ‘Despacito’ to your speakers; you ask Alexa to play ‘Despacito.’ The development in this field makes it possible for people and computers to interact more casually. The human effect added to these emotionally intelligent machines would inevitably lead to a 360-degree rotation of the sales and marketing industry.
The last few years have brought a noticeable transition from the development of favorite mobile apps to intelligent chatbots. This progression has made it possible for smaller companies to leverage AI for enhancing operations and customer service. Chatbots were once restricted to Fortune 500 companies, but that’s no longer the case.
More than 1.4 billion people use messaging apps and are willing to speak to Chatbots. The increasing number of people that depend on voice-enabled personal assistants provides a clear picture of how far the Bot industry is about to go.
It is easy to predict that the growth of Artificial Intelligence will continue unrestricted. The creativity and effort invested along with billions of dollars in the development of Chatbots, Emotionally Intelligent devices and the progress of NLP are bound to make a difference. AI is no longer a futuristic imagination it is an undeniable reality that exists closer to us than our expectations.
About the Author:
Alma Causey is a Freelance writer by day and sports fan by night. She writes about tech education and health-related issues. Live simply, give generously, watch football and a technology lover. She is currently associated with Salesmate Team.