Almost 90% of companies use a Customer Relationship Management tool while operating their business. These systems have become an integral part of the sales process and the advancement of AI impact this system. With the ever growing AI, it can be integrated into CRM to provide even more effective insights and aids these companies to prosper and make even better decisions. Keeping in mind the challenges of customer service and management, AI is the demand of this new era.
Businesses need of CRM?
It has been observed that nearly 70% of business comes from your existing customers. Not worth mentioning that attracting a new customer needs flow of new investment. Therefore, it is advisable to keep your customers satisfied at all points, which is why CRM holds a special position in any business.
More insights of Sales- There were a time when the business meetings were done face to face. But that has changed completely like it can be done over a call or even a video conference. The art of recording data for the sake of relationship building is the need of the hour, making CRM systems a must have.
CRM makes sales process easy- Tracking the sales of the organization is made easy with the help of CRMs.
Integrating AI to businesses CRM system
We think that the below mentioned three reasons are enough for any business to integrate AI into the CRM systems:
A large volume of fragmented data that is impossible to process without AI
As transactions grow, the size of customer data also grows. This growth helps businesses understand their customers better, as they have access to more information about them. Although, they are bound to work even more to carve out the most relevant information as the majority of the data is fragmented. It is a difficult task to manage fragmented data, which is roughly around 90% of total, AI can help with this tedious task.
After completing the process of bifurcation of important data, machine learning can apply its logic to identify patterns and provide useful insights. Considering the ever growing data, AI technology offers vital solutions to manage this amount of data quickly and with almost zero errors.
The nuances of business relationships
Apart from a large amount of data, the business processes and relationships also become more complex with the increasing transactions. This in turn makes it much harder to understand company relationships and analyze customer patterns accurately. AI technology can easily overcome this hurdle by automating most of these tasks and offering useful insights.
Talk of the town
As we know, the craze and popularity of AI-powered CRM tools is expanding since the start of 2017. We can say this is mainly due to the following reasons:
- The advancement of AI enables this technology to be integrated into CRM systems, and these tools are becoming more popular among the businesses.
- The impact of AI in CRM tools is observed better as once integrated into CRM the processes become simpler, and the big amount of data is managed efficiently.
What are the main benefits AI integrated into CRM?
The main benefits include:
- Increased sales: CRM tool provides important insights about customers and aids businesses realize their actual sales processes. With the help of insights, companies can understand their customers better and develop new strategies that increase their sales.
- Reduced time and costs: An AI-integrated into CRM can exterminate manual tasks like inserting and cleaning customer data, which would reduce human errors. By performing these repetitive tasks continuously and without any mistakes, these tools can manage tedious tasks within a few minutes.
- Enhanced customer satisfaction: To know everything about customers is one of the difficult tasks for businesses. With AI observing the patterns in the customer data, companies can understand their customers more in depth and take necessary actions accordingly. As a result, these actions will increase company’s profit margin and enhance the experience of customer satisfaction and loyalty.
- Enhanced employee satisfaction: AI can manage manual tasks, employees can save their time on working on manual tasks, promoting their satisfaction and performance.
Some of the companies offering AI-powered CRM solutions?
CRM providing companies includes a wide range of solutions to support your business. Here is the list of some of the AI integrated into CRM solutions:
- Adobe Sensei
- IBM Watson
- Microsoft Cognitive Services and Dynamics
- Oracle AI
- Salesforce Einstein
- SAP Leonardo
- Sugar CRM