How AI-powered CRM Solutions are Driving Business Growth

Sanam Malhotra | 27th July 2020

Amid these uncertain times, it is all the more essential for enterprises to foster constructive customer relationships. However, cracks in understanding customer relationship management (CRM) and adapting effectively have led many businesses to shut during the lockdown. What businesses need is a strategic roadmap that harnesses data-power to reshape marketing and sales efforts. Artificial intelligence (AI) presents a resilient approach with AI-powered CRM solutions that optimize every stage of enterprise sales pipeline through data-driven techniques.

Forecasters envision a $1.1 trillion global business revenue boost with the use of AI in CRM. We, at Oodles, as an experiential AI Development Company, highlight key AI applications for achieving this vision through augmented business intelligence.

 

Why Your Business Needs AI-powered CRM Solutions

Earlier, fostering constructive customer relationships was manageable through manual efforts. However, with the onset of digital transformation, businesses are juggling dynamic customer demands with an explosion of customer and market data. Moreover, in light of the ongoing pandemic, businesses are rethinking their marketing strategy to sustain an uncertain market and shifting customer demands.

The integration of artificial intelligence in CRM systems enable businesses to combat data mismanagement and upturn customer satisfaction with enhanced services.

AI-powered CRM solutions bring the following immediate benefits to emerging and established businesses-

1) Automated and Centralized Data Entry

The most tedious task under CRMs is data entry and retrieval that consume 17% of a sales professional’s time. AI turns this primary obstacle to CRM adoption with impressive data mapping, ingesting, and retrieval abilities. The automated technology can capture first-hand customer data including contacts, demographics, emails, etc. from websites, telephonic conversations, chatbot interactions, and more.

With a centralized data repository created by AI, sales professionals can easily map out rich keywords, customer interests, use cases, and more.

 

2) Seamless Customer Data Management

Not only data entry, but AI can also automate the transcription of messages and their relevant categorization for facilitating seamless insight generation. Today, machine learning can support sales team training, research, and data management tasks with the following deliverables-

a) Transcription of messages from phone calls and video calls in real-time

b) Data cleansing for covering missing data, anomalies, and inconsistencies to ensure effective querying.

As salespeople become equipped with more effective data practices, it improves business performance through better marketing and customer service.

 

3) In-depth Analysis across Channels

The reason that captured data still requires herculean human efforts for analysis has rendered over 70% of available data be unused. AI streamlines this quest for data-driven analytics by extracting valuable and actionable insights from large volumes of data efficiently and accurately. From predictive analytics to sentiment analysis, machine learning is significantly improving sales pipelines to generate qualitative leads, augment marketing efforts, and strengthen customer relations.

A Forrester report points to some far-reaching benefits of investing in AI to improve customer services

AI-powered CRM services


We, at Oodles AI, understand the complexities of customer data, its sources, and anomalies. Our AI team is well-equipped with machine learning tools and algorithms to automate critical sales operations from data entry to cleansing and analytics. Let’s explore what all AI applications are capable of strengthening CRM practices while increasing business revenues.

 

3 Essential AI-powered CRM Solutions for Enterprises

1) Predictive Lead Scoring

With constant algorithmic advancements, machine learning models support salespeople with insights around a potential lead’s quality and profitability. AI-predictive lead scoring analyzes the activities of a lead across digital channels like website views, search queries, downloads, etc. It leads to a perfectly mapped route of potential leads and giving them scores based on their quality and prospects.

With the Oodles AI team, enterprises get a highly customized predictive lead scoring solution with the following features-

a) Customized lead scoring parameters for different products and services

b) Precise scoring based on well–defined lead actions

c) Negative scoring for differentiating regular visitors from leads, and

d) Automatic sales pitch after the leads reaches a certain threshold.

Experts suggest that properly executed lead scoring can increase closing rates by as much as 30%, something possible with AI and machine learning.

Also read | How Artificial Intelligence in eCommerce is Embracing the New Normal

 

2) Personalized Recommendations

Personalization is at the heart of any CRM model today. As market demands dwindle, there’s all the more need to match customer needs with appropriate products and services. AI-powered CRM solutions, therefore, become more essential than ever to fulfill customer needs and improve loyalty and satisfaction significantly.

Personalization can be splayed across CRM channels from marketing to sales to customer services. Recommendations based on historical customer data can lead to improved marketing efforts across emails and social media channels.

 

AI-powered CRM recommendations

 

We, at Oodles, as a well-established Chatbot Development Company, have hands-on experience in building interactive recommendation engines across social media platforms.

Also read | Chatbot Development in 2020: An Expert Guide to Tools & Techniques

 

3) AI-powered Customer Support

AI has already mastered routine customer interactions while foraying into the human-like interaction landscape. Studies confirm that over 30% of customers prefer buying goods from chatbots as over 25% of sales representatives adopting virtual assistants.

Intelligent customer support goes beyond rule-based interactions to engage customers with in-build lead generation tools and relevant information.

 

AI-powered CRM chatbot integration

The proprietary Oodles AI Chatbot entails a human-like interaction with prospective clients backed by NLP algorithms and machine learning.

Businesses are increasingly adopting virtual agents as part of their marketing strategy to increase sales by as much as 60%.

Join hands with the Oodles AI development team to deploy AI-powered CRM solutions that embrace your sales funnel for the new normal. Our AI team is skilled at integrating top-notch CRM software like Salesforce into your business model and building customized AI-powered CRM solutions.

About Author

Sanam Malhotra

Sanam is a technical writer at Oodles who is currently covering Artificial Intelligence and its underlying disruptive technologies. Fascinated by the transformative potential of AI, Sanam explores how global businesses can harness AI-powered growth. Her writings aim at contributing the multidimensional values of AI, IoT, and machine learning to the digital landscape.

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