Back in 2011, Gartner made the prediction that 85% of customer-enterprise interactions will be managed without a human by 2020. Earlier this year, Servion Global Solutions released its own prediction of estimating an impressive 95% of such customer interactions will be powered by artificial intelligence by 2025.
These industry-leading companies aren't just throwing out such numbers as AI and machine learning are no longer the stuff of science fiction novels.
Taco Bell has already created a TacoBot that allows customers to streamline their orders via Slack Chat and beauty-brand giant Sephora has already implemented a computer-driven bot via Kik for customers with all-things-makeup inquiries. Behind the screens, similar AI tech is revolutionizing customer relationship management software. The following is a quick glimpse of how AI and machine learning will impact and bring changes to customer relationship management software in the coming years:
The Use of AI to Improve a Company's Understanding of Customers
The primary aim of corporate-purposed AI is to create tech that can learn continuously in a manner that a human employee would. Currently, CRM software has the tools to make data collection on customers incredibly easy. Storage of this data is likewise easy and effective thanks to the ability to do business in the Cloud. However, processing and analyzing such data remains a task best done manually. An aspect that garners much criticism by employees loathe to do rote data entry.
Emerging machine learning technologies promises to change that. AI-driven CRM tools are being engineered to take on that challenge and to free up valuable employee time and resources for other tasks. Emerging CRM software will be adept at analyzing the great amount of data from many varied sources (including but not limited to social networks, search engines, and business databases). Such analysis enables the software to more effectively and efficiently determine customer behavior patterns to do things like project which new and existing customer are likely to be the biggest repeat customers or positively react to new products and campaigns. This overall leads to a company better understanding their customers and what they want from the company.
AI-Driven CRM Can Assist in Creating a More Personalized Customer Experience
The common perception of machines and even just the term 'artificial' sways towards something cold, informal, and quite dehumanized. Yet, AI-driven Customer Relationship Management promises quite the opposite. Because this type of future tech will be adept at rapidly analyzing information to identify client patterns and clusters, it can help create a more informed and personalized sales profile. An AI-driven CRM can analyze millions of transactions every day while simultaneously targeting offers for individual customers.
Such actionable sales intelligence is true power in the hands of the right sales team. Rich insights inform sellers in how to best engage key prospects with the perfect message at the perfect time in their buyer's journey. This means no more wasted cold calls and dead emails. Rather, using AI and machine learning assists, sellers will find themselves with a rich trove of information about what customers actually need and what they want in a seller -- the ultimate outcome being more successful sales and closings. This is a massive transformation of CRM from being seen distinctively as a primary storage database to a unique advisor or consultant ensuring human operators have the best candidates and the best information on those candidates
Transforming CRM Software from Sales Tool to Sales Assistant
Integrating machine learning into CRM won't just add to the possibilities of this software. Rather, it will change fundamentally how sales personnel approach the CRM. AI-driven CRM that enables natural language learning and voice input will be capable of answering customer queries, solving basic sales problems, identifying new opportunities for sales, and more. Much more.
The multi-facets of tomorrow's CRM shouldn't just be seen as a tool that simply relieves sales staff of analyzing data and pinpointing key customer insights (although that aspect is important). This combination of database and consultant will empower team members to go further in their sales and customer relationships to ultimately improve their productivity and boost company output.
An enterprise's marketing department can likewise use the information and insights provided by AI-driven CRM to create more effective campaigns thanks to the CRM's ability to effectively segment client preferences, spending habits, and histories to create robust buyer profiles. This reduces the amount of resources that might otherwise have been spent on researching the same information that the CRM does automatically. The result is a more effective campaign at a more efficient rate.
Doing Tomorrow's Work Today
The next five years are going to a blur of exciting new technologies, products, and Customer Relationship Management options. Machine learning, natural language processing, and artificial intelligence are coalescing to help organizations of all shapes and sizes drive more revenue via increased service, loyalty, and directed customer service. To see some of the forerunners of this type of technology and to learn about what cutting-edge Customer Relationship Management software can do for your team, contact us today.