Acquire

Sales Automation: 4 Secrets to Make Exponential Business Growth

author
Sam Suthar
CMO, Acquire.io
7 min read
Sales Automation: 4 Secrets to Make Exponential Business Growth

Are you ready to compete with the big boys?

It might seem difficult and scary (yes, it is) but you need to let go of your limiting beliefs and embrace automation if you want to grow your business exponentially.

More importantly, you can’t continue to handle every task manually and expect to stand tall with successful brands.

The truth is, one of the reasons why you’re maximizing sales is because you’re trying to do it all by yourself using your instincts and a poorly-executed strategy.

The growth of sales automation

Sales automation is becoming more and more popular among businesses. A research conducted by Frost & Sullivan, a business consulting firm involved in market research, projects that the SFA (Sales Force Automation) market will rise to $4.13 billion by 2018.

This prediction is not at all impossible. Sales automation opens a wide range of possibilities. It can offer more leads, conversions, and sales with less work. And this is not just another vague promise.

This opportunity that sales automation offers is already proven. In fact, data from Lenskold Group revealed that 63% of companies outgrow their competitors with marketing automation.

Also, according to Aberdeen Group, companies that use sales automation achieve higher conversion rates of 53% and higher annual revenue growth rate of 3.1%.

While there’s no doubt that sales automation can give businesses a lot of advantages in the industry, many marketers are still thinking twice about giving it a shot—especially for those who lack technical expertise or those who don’t have enough budget to hire a dedicated team, sales automation can be quite overwhelming.

To help you get started, here are the four secrets on how businesses use sales automation to get leads and increase their revenue:

1). AI-based Salesbot

Artificial Intelligence is not a science fiction, not anymore. With the advancement of technology, businesses are no longer fighting battles in a conventional way.

Technology has introduced the digital way to manage businesses.

Artificial Intelligence is widely considered as the next game-changer in businesses.

As such, more and more companies are deciding to opt for the option that utilizes the abilities of artificial intelligence.

In fact, approximately 38% of businesses are using artificial intelligence and the number will increase up to 62% by 2018. This only shows that AI is not just a trend of the day. It will last until the future.

Essentially, if your top priority is to convert leads into customers, then AI can help you.

state of inbound sales

How can artificial intelligence help you in your business, anyway? Artificial intelligence can help businesses in a lot of ways, especially in managing customers.

Here’s how:

a). Email Content Curation: Most businesses spend hours composing weekly emails to customers. The problem is it is almost impossible to deliver a personalized email to every single one of your customers.

This is the part where artificial intelligence comes in.

AI’s algorithms can track down a subscriber’s email browsing data to analyze how the individual interacts with your content.

This allows the AI to detect hyper-contextual content to create personalized emails based on analyzed data.

b). Improved Customer Experience: With a chatbot, artificial intelligence has improved customer experience big time. Here are a few points that show how customer service bots serve customers better:

i). Personalized Packaging: Customers, in general, crave for personalization. Whenever they visit a website, a personalized theme and style would always be an attraction.

In the past, human customer reps tried to cater customer needs individually. However, it was difficult. With a chatbot, a personalized packaging is easier and more possible.

ii). Fix Problems: Chatbots can fix problems – even before customers can realize they exist. This is because bots are designed to proactively create a smart experience for the user, while at the same time, addressing the path of sales.

Whitepaper- The Rise of Chatbot in Customer Service

iii). Sales Streamline: Even after getting a customer to take action, it’s still important to guide them throughout the whole process of purchasing.

Live chat representatives can sometimes complicate things. A chatbot, on the other hand, can streamline the entire process and ultimately, improve customer experience.

2). Smart Chatbots

As said, a lot of companies are using artificial intelligence to handle customer management and IT tasks.

A study conducted by the Harvard Business Review of 13 manufacturing and service industries in North America, Europe, Asia-Pacific, and Latin America, revealed: “that they are using AI much more frequently in computer-to-computer activities and much less often to automate human activities.”

The customer service representative that you’ve just recently chatted might not even be an actual representative.

It might have been a bot but you didn’t realize it. Smart chatbots are so intelligent, that you might have a hard time recognizing one from a human representative.

While artificial intelligence is undoubtedly smart and proficient, not all AI-backed programs are capable of these features.

In fact, there are quite a few AI-focused companies out that has over the years supported small businesses with smart chatbots.

artificial intelligence

For example, acquire, a company that provides Artificial Intelligence salesbot has implemented a comprehensive chatbot that can help you collect a customer’s information including their name, contact number, email ID, and other details which, in turn, allows you to formulate personalized sales strategies for each target audience.

There’s a common misconception among SaaS Startups and B2B companies—they think that sophisticated chat \bots will completely replace humans in the nearest future. In fact, an Oxford University Study predicted that 47% of jobs could be automated in 2033.

But I think differently—I see both chatbots and humans working together seamlessly to help brands communicate better and deliver stress-free customer service experience.

‘Machine-to-machine’ transactions are the low-hanging fruit of AI, not people-displacement,” says Satya Ramaswamy.

3). Enhanced Relationship Management

While most customers mainly look at the quality of the product or service to take action, some customers opt to go for a brand because of the relationship management—especially when each of the four stages of the entire process is addressed.

relationship management

This goes the same when customers break off deals.

This clearly shows how unpredictable purchase decisions can be in a variety of factors. Customer support, for one, is a huge factor.

Today, chatbots are widely used by businesses (like American Express, H& M) to handle customer support. This is because these AI-driven assistants can manage customer service questions. Read more in this whitepaper.

Whitepaper- The Rise of Chatbot in Customer Service

By using Ai-driven assistants, you can have your sales reps to focus on more complex tasks and handle the in-depth customer service issues.

4). Saturate the Top of the Funnel

Sales funnel is the process of narrowing, analyzing, and following up the sales leads—from creating awareness about your brand to inspiring the lead to finally taking an action (e.g., buy your product, register to attend your webinar/event).sales funnelThe top of the funnel is your foundation in the entire process. If you don’t have the means to generate awareness and produce leads, the entire funnel can collapse along with your business.

To cope with this problem, businesses arm themselves with expert sales teams. However, “only 27% of the leads that enter a company’s marketing funnel is “sales ready.”

Interestingly, if you’re marketing to businesses, then rejoice because 90% of business buyers will find your business when they’re ready to buy—hence, keep acquiring and nurturing leads at the top of your funnel because you’ll convince them later.

business buyers

This illustrates why sales automation is a necessity for businesses. Using AI software makes it easy for companies to send a lot of leads to their sales funnel, which is difficult for humans to achieve.

Intelligent algorithms by an AI software can match a company’s customer profile to create an ideal list of prospects who are likely to be “sales ready”.

With the use of a sales automation tool that tracks leads as soon as they enter the funnel, prospects can be sorted accordingly into appropriate nurture campaigns, touting customized outreach on the basis of the lead’s demographic information and actions.

All these explain how sales automation allows businesses to formulate a better means to manage leads and convert potential customers into loyal, dedicated followers.

Conclusion

Artificial intelligence is a broad term, but with respect to sales automation and customer service, it offers a lot of benefits, thus giving you a competitive edge over your competitors.

AI trend will last for centuries. And the good news is, you don’t have to invest a fortune into it. You can start with the AI chatbots and use it to automate customer service, and then scale from there.

If you want to stay ahead of the game, you must develop a comprehensive and strategic plan on how to significantly utilize AI to improve your customer service operations and other processes in your business.

With these three secrets of sales automation, you have been armed with the exact tools that Fortune 500 companies use to build thriving brands even in the midst of intense competition and economic downturns.

The question is, will you take an action today and implement one of them, or will you feel excited about these secrets and go your way? The choice is yours.

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