Ask any salesperson – from a field agent to an executive – what’s the most annoying or difficult part of their job and the response would be related to data – recording, submitting, analyzing and more.
They dodge it, they procrastinate it, they choose to forget it.
Sales is primarily about relationship building and product pitching. However, typically at least two third of the time of a Sales Rep working day is spent on activities other than relationship building and selling, including data entry, data mining and data analysis.
A Sales Rep, generally, toggles between 6 different tools at work, to deal with numbers and information. This often also includes – Pocket Diary, Notes section on Phone, WhatsApp, Sticky Notes and Mobile Screenshots. And the rest of the time is spent on collating these data points and analyzing patterns, if any. Needless to say, many a time, data gets obsolete before it leads to an action point.
A sales rep can make or break an organization. It all comes down to selling what you have created. This function directs to tangible outcomes imperative to the survival of an organization.
Administrative tasks related to data crunching, though mundane and time-consuming, are also equally necessary for generating and converting leads.
Afterall, data trumps gut-feeling when it comes to generating, converting and engaging leads.
There comes the significance of AI powered chatbots for businesses. They empower employees focus on the human side of their role and they take care of the rest, making the sales model more scalable and way more effective.
AI powered chatbots are transforming roles and maximizing team potential at breakneck speed.
Here are 7 direct benefits that adoption of AI powered chatbots for data analytics by salesforce contribute to business. Let’s take a look –
With AI taking care of administrative tasks and facilitating critical data insights, individuals and teams can focus on their core function. With handy data insights, they get a 360-degree customer and market view in real-time. An informed salesperson can take important decisions on the go. They can respond to changes quickly and effectively.
Return on Investment
At the end of the day, businesses must focus on their bottom-line. In short run, pocket diaries, sticky notes and conversations over WhatsApp may seem innocuous, but the long-term disadvantages are alarming. As per a research by Accenture Digital – “57% of businesses agree chatbots deliver large ROI with minimal effort.”
Companies that use chatbots in certain industries are seen 47% more efficient and 40% more innovative.
AI powered chatbots for data analytics empower sales teams with customer and competitor insights in real time. With such information, they are able to suggest to their customers –
- what products were doing better in the region,
- where were their customer’s competitors,
- how were they doing, what opportunities could their customers grab,
- what gaps in the market could they fulfil and the like.
AI based chatbots and virtual analysts lead to evolved conversations between sales teams and store owners. With access to such BI technologies, employees are able to share product insights, product trends with their customers, helping them create growth strategies.
Customer engagement leads to customer loyalty. There are various studies that prove that engaged customers prefer to repeat business with the same business.
Employee Value Proposition
When people are able to play at their strengths at work, they are more satisfied and more engaged at workplace. ‘Gallup studies have found 8% to 18% performance improvement and 2% to 10% increases in customer engagement among strengths-based organizations.’
As per Business Insider – The chatbot market size is projected to grow from $2.6 billion in 2021 to $9.4 billion by 2024 at a compound annual growth rate (CAGR) of 29.7%.
Much of a sales rep’s day at work is spent on tracking down important and relevant information. Chatbots for data analytics make it easier and seamless, thereby, empowering people focus on relationship building. Enriched customer experience directly leads to businesses identifying and strategize their competitive uniqueness.
Stronger and engaged teams define the essence of a stronger workplace and an evolving culture.
Gallup research suggests that “simply learning their strengths makes employees 7.8% more productive, and teams that focus on strengths every day have 12.5% greater productivity.”
Chatbots for data analytics and insights do just that!
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