Marchex views AI Artificial Intelligence (AI) as the current super-trend in the tech industry, following in the footsteps of the PC (1990s), the Internet (2000) and mobile (2010). What happens over the next decade will transform the world in ways that some businesses may have only begun to consider.
The role of mobile devices has flourished exponentially in the past decade and so has the amount of data that’s being created. Billions of consumer devices are creating 20 billion messages between people and businesses every month (Social Media Today). Businesses are ingesting so much data that humans can’t keep up.
The impact of AI on Sales
Businesses that have an AI strategy have a competitive advantage over those that don’t. According to Forrester, AI will blur the boundaries between marketing, sales, and customer care. In fact, the impact of AI is already apparent within sales teams. A recent Forbes study found that sales teams adopting AI are seeing an increase in leads and appointments of more than 50 percent, and cost reductions of 40–60 percent.
By 2020, 30 percent of all B2B companies are expected to employ AI to augment at least one of their primary sales processes, according to Gartner. In addition, the Harvard Business Review states: Price optimization, intelligent forecasting, opportunity insights, and lead prioritization are just a few of the use cases changing the sales process.
AI is here to stay and it’s here to make your job easier.
Making it easy to make an AI play
AI makes it easy to solve common marketing and sales hurdles. Here are some examples of how AI is solving business challenges at scale:
- LEAD ACQUISITION: Match the right consumers to the right clients
- PERSONALIZATION: Provide engaging and relevant customer experiences via web, text, chat, and call
- CAMPAIGN OPTIMIZATION: Gain marketing attribution and optimization to maximize return on ad spend (ROAS)
- SALES EXECUTION AND ENABLEMENT: Prioritize leads, rescue missed opportunities, uncover performance trends, share best practices, and discover training and coaching opportunities
- FRAUD PREVENTION: Block SPAM and robocalls
- CHURN: Predict and prevent customer churn
How to start your AI adventure
Businesses often believe they need an AI strategy, but don’t know where to start. It may seem that AI is futuristic, but you can put AI to work in your business today with this 5-step process:
- Identify a business challenge where scale, time or accuracy are essential
- Determine the data sets that can be analyzed to solve the challenge
- Evaluate vendors who provide solutions to your type of challenge
- Launch a pilot to try an AI solution under controlled circumstances
- Cross-check pilot results with real-world results to confirm the validity of the AI solution
Put Conversational AI to work at your business
To learn how Marchex AI-powered technology can help your business uncover value from your conversational data, view the Marchex Sales Edge webpage.