AI Is Transforming Sales: Here’s What It Means For Business

Published: May 17, 2024

Since ChatGPT’s release in Fall 2022, artificial intelligence (AI) has dominated conversations around the globe. Whether for personal or business use, the technology has proven itself to be a useful virtual assistant, a thorough researcher, an adept data analyst and even a creative brainstorming partner.

AI’s ability to assume the (repetitive, administrative) tasks typically performed by humans makes the technology an especially worthy business partner. For sales reps in particular, AI has proven especially useful — not only by taking on time-consuming clerical work but also analyzing customer data and making informed recommendations on engagement tactics, up- and cross-sell opportunities and more.

Across organizations and industries, AI is making sales teams more engaging, personalized and capable.

Sellers Recapture Time For High-Value Customer Interactions

Time is not a luxury afforded to most sales reps — with jam-packed schedules, they chase as many leads and try to close as many deals as they can. But at the end of the day, there remains a tremendous amount of scheduling, CRM logging and follow-up activity to complete. AI can assume some of this administrative work, freeing up several hours for reps to spend on more prospect development, account development and persuasion.

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But this is just the beginning of what AI can accomplish for sales teams: It can perform sales forecasting, lead scoring and pipeline analysis, as well as anticipate trends, market behavior and competitor strategy.

Communication Becomes Hyper-Personalized

AI’s suitability for data processing applies to customer interactions as well. Sales teams can use AI to ensure they reach prospects and new buyers within existing accounts at the right time, with the right language and through the right methods.

Through AI-powered propensity modeling, sales organizations can delineate far more buyer personas than they ever thought possible. With a mind-blowing degree of detail, AI not only categorizes niche sub-segments of prospects and contacts but also suggests specific language to use in communications to each distinct buying group.

This unparalleled level of personalization generates incredible results and, as a bonus, saves organizations money. No longer fully reliant on third-party agencies or large, in-house teams to organize and reach personas, marketing and sales organizations can use those dollars elsewhere to make an even bigger impact.

GTM Models Expand

Beyond the specific — and game-changing — use cases of AI for sales organizations, there is a bigger-picture benefit. AI acts as an accelerant that optimizes people and processes across businesses by augmenting human decision-making, enhancing our capabilities and shedding light on areas of inefficiency.

For sales organizations, AI broadly expands go-to-market (GTM) models and unlocks new opportunities. Its capability to own certain administrative and clerical tasks can help sales leaders better allocate resources and focus on identifying — and retaining — the right talent for the right roles.

As organizations across industries increasingly embrace AI and incorporate it into their workflows, there will certainly be challenges. Like any advanced technology, AI will cause some growing pains as organizations undergo change management. But the long-term benefits will prove transformational and are undoubtedly worth any short-term hiccups.

AI Is Here To Stay

In a short amount of time, AI has had a significant impact on the business world — and this trend will likely continue. AI has catalyzed an incredible wave of human ingenuity, especially as we continue to identify its strengths and extrapolate its potential. There is so much more to AI than we can even fathom at this time.

For sales teams, AI can serve as an intelligent virtual assistant and researcher, unlocking new levels of personalization. The businesses that stand to gain the most from AI’s potential are those with ample access to data and frequent, repeatable customer interactions. With AI in their corner, sales organizations can revolutionize customer interactions and persona targeting and achieve new levels of success.

Davis Giedt is a Director in the Alexander Group’s Atlanta office and leads the Commercial Analytics, Research and Benchmarking practice, as well as the Executive Access Subscription Program. His team provides industry-specific insights across many of the firm’s projects and initiatives. Prior to joining the Alexander Group, Davis worked as a consultant at FTI Consulting. He has a B.A. from the University of Southern California.

Posted in: Demanding Views

Tagged with: Alexander Group

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