5 ways conversational ai

5 ways that Conversational AI will shorten your sales cycle

A guest blog by Michael Hanson, VP of Marketing at CloudTaskCloudTask is a managed workforce provider for growing companies looking for B2B Sales, Sales Chat and Customer Support solutions. Their mission is to find prospects, nurture leads, close deals, and satisfy customers, to enable businesses to reach their goals.

The length of a sales cycle, though it varies greatly by industry and whether your business is B2C or B2B, is a great indicator of the efficiency of your sales team.

But it’s not just important to keep the length of your sales cycle tight. It’s also important to provide a personalized experience to prospects and clients throughout the process. Although human beings will never be replaced in the sales cycle, technologies like Conversational AI can help companies boost their speed and efficiency throughout.

From helping to funnel prospects, to answering pressing questions 24/7 and following up over months and months of email tag, artificial intelligence like Conversational AI isn’t a substitute for human involvement – it’s an important tool that augments your human sales team to create a more efficient process and generate more leads.

The growth and power of AI

With Conversational AI, we’re not talking about broken experiences and confusing workflows. AI technology has advanced rapidly in the last few years, so much so that it’s becoming more and more difficult to tell the difference between a “real” person and AI. In fact, 27% of consumers weren’t sure if their last customer service interaction was with a human or if it was actually AI.

It’s not a fad either: according to Gartner, by 2020 customers will manage 85% of their relationship with businesses without speaking to a human.

The best thing about Conversational AI? It can be personalized for your business so that you’re automating responses that make sense, reflect your values, and describe your products. At the same time, using Conversational AI you can update your database, contact numbers and names, and automate the scheduling of meetings with your sales team.

#1 – Conversational AI finds prospects, fast

Think about the power of Conversational AI. It can follow up on dead and ancient leads, with a trigger for example, if they have not been spoken to in a year. These are leads that previously no sales person would have touched that you’re giving yourself another shot at, with outreach that if the AI is set up correctly, appears to be personalized.

AI is therefore working as a member of your sales team digging up old leads that previously would have fallen through the cracks. Through email, social media, web chat and more, with no human involvement, Conversational AI generates interested prospects.

And here’s the best part: AI is able to learn with every interaction so that it can become more efficient at keeping potential clients engaged and getting prospects through the door.

#2 – Qualify prospects & schedule meetings quickly with Conversational AI

When it comes to sales, there’s nothing worse than a dead end. Conversational AI can help speed up the process of making sure prospects are actually qualified with a series of simple questions. By incorporating these questions seamlessly with a conversation, AI can decide whether or not it’s worth your time to set up an appointment with someone else in the sales department. This would be helpful enough, but AI technology doesn’t just stop there.

By taking the role of a digital assistant, AI can schedule prospect meetings on behalf of your sales team. And this is key: sales reps only spend 36.6% of their time actually selling. The rest of that time goes towards non-sales activities like admin work, scheduling meetings, doing paperwork, and answering emails. Conversational AI takes this burden away from your team so they can focus on what they do best–sell.

#3 – Conversational AI helps present the product and answer questions

Though your qualified sales team will still need to maintain a vast amount of knowledge about your products and services, Conversational AI can help speed up this part of the process exponentially. First of all, an AI Assistant can help keep a consumer engaged with an email or SMS message, eventually encouraging them to download a guide or free eBook that breaks down your service. This way, by the time a prospective client gets to the sales team, they already have a great base of knowledge about the product.

For some companies, the “objections” part of the sales cycle is the longest and the most laborious. Prospective clients want to make sure they’re getting the best solutions for their business or home, and will often generate additional questions about the product during the process. So, what do you do when your client has a question on a weekend? Or late at night?

Without Conversational AI, a simple question can take days to resolve. With AI ready and able to answer questions quickly, the sales cycle can be greatly reduced. This 24/7 availability of Conversational AI is one of its greatest perks.

And if you don’t think AI can answer questions effectively, think again. With support, AI effectively answered up to 80% of commonly-asked Tier 1 support questions. Similar results are beginning to be seen in sales.

#4 – Closing the deal and beyond

As digital engagement becomes more and more mainstream with technological advances and changing consumer expectations, Conversational AI can shorten the sales cycle by allowing your customers to ask crucial questions immediately to make those decisions quicker – and then actually finish the sale online.

However, it’s a mistake to think that the sales cycle ends with a sale. You can leverage Conversational AI for:

  • Follow-up – By using AI-generated emails or SMS messages, your team can easily get in touch with customers after the deal is closed to ensure that they’re enjoying the product, ask if they have any questions, and further the relationship.
  • Easy referrals – 90% of consumers still believe brand recommendations from people they respect. By harnessing conversational AI, you can encourage your customers to leave reviews, share their experience on social media, and reach out to friends and family about the product to drive sales.

If you’ve harnessed the power of Conversational AI throughout the process, you’ve not only sped up the sales cycle from finding prospects to closing the deal – you’ve also impressed your clients with streamlined, efficient, and proactive outreach.

#5 – More free time means more results

When it comes to the power of Conversational AI, consider not only how it can improve day-to-day work, but how it can leave your human team with more time to brainstorm. More human brainpower and creativity means streamlining processes, improving team culture, and speeding up the sales cycle with ingenuity.

34% of business execs say that the time freed up from using digital assistants allows them to focus on deep thinking and creating. If your company is spending too much time with lower-level processes, then it’s going to be incredibly difficult to break free of that cycle and brainstorm new, creative ideas. By using artificial intelligence to take on lower-level tasks, your team won’t just be able to spend more time answering higher-level questions or managing high-level prospects; they can devote more time to thinking of creative solutions to speed up your processes.

And AI’s analytical prowess can show your team exactly where you need to streamline processes. Machine learning capabilities nurture a treasure trove of data about your prospective clients. Who’s clicking on your site? What are the demographics of engagement? What’s working and not working with every step of your process? How do you improve on every level?

AI enhances, improves and shortens every aspect of your sales cycle

When you consider the way Conversational AI impacts every stage of the sales cycle, it’s clear how seamlessly it works with your sales team.

  • By answering easy questions, Conversational AI frees up your best salespeople to focus on the tougher questions.
  • By engaging with people who are just looking for some more information, AI can turn people into prospects – moving them to the next step of the process.
  • By reaching out to old leads via email or SMS, Conversational AI can re-engage.

Artificial intelligence isn’t about less human interaction: it’s about increasing the impact of human interaction by managing small details, gathering data, and providing key administrative support.

Learn how you can leverage Conversational AI to scale your sales team without increasing your sales quota.

 

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