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How AI CRM is Transforming Your Business

CRM | by Steve Conway
How AI CRM is Transforming Your Business

Artificial intelligence or AI CRM is making quite a buzz these days. In the 21st century, where every business is seeking digital transformation to scale up, adopting AI capabilities has become a survival imperative. From business operations to sales processes and customer relationship management, AI is playing a vital role everywhere. With built-in AI capabilities, CRM has already secured the #No.1 position as a MarTech tool.

The concept of AI-driven CRM is quite new, however, they take Customer Relationship Management to the next level. An all-in-one CRM like ConvergeHub is featured with AI capabilities that help manage all the key tasks with the highest level of accuracy and zero manual errors.

This piece is an in-depth look at how businesses can leverage the power of artificial intelligence-enabled CRM. According to a recent Deloitte report “Data and AI will have a dramatic effect on customer interactions in the coming years.”

Business Benefits of Adopting Artificial Intelligence

In a business context, Artificial Intelligence performs tasks that are difficult for humans, often due to time constraints or other factors. On the contrary, it is more effective to use an AI tool instead. For example:

  • AI CRM tools can offer smart suggestions, elaborate insights, and actionable forecasts so that the sales reps can incorporate these elements into lead management, quotes, and sales pitch.
  • It helps you make decisions about improving customer service or product development by identifying trends in customer behavior over time.
  • AI offers excellent product recommendations based on past purchases or searches, or even helps you learn about topics you are interested in..

Customer Service Support, Marketing Analytics & Lead Generation

When it comes to customer relationship management, AI tools perform a wide range of functions in business, such as customer service support, marketing analytics, and lead generation. With ConvergeHub, users can expect:

  • Exceptional Customer Support –AI powered CRM systems are equipped to process large sets of data into insightful business information. SMBs with complex databases are highly benefited with this. This is absolutely great for the companies who have made recent changes in the policies to have more clarity on organizational structure as well as for making better business decisions.
  • Marketing analytics – Real time marketing analytics helps businesses gain detailed and up-to-the-minute information on specific marketing campaigns so that the marketer can decide on the correct efforts. This also gives him necessary ideas on what needs to be updated in the current marketing plan. The whole idea of the real time market analytics is to make sure that the marketers get to know about performing and non-performing campaigns and get to know what fits in and what does not.

Speed and 100% Accuracy With Zero Manual Error

AI CRM like ConvergeHub helps your business perform tasks at the highest speed, without compromising on the accuracy level. AI-powered CRM tools automates lead scoring, lead management, and campaign management, thus allowing you to focus on what matters most—your goals for the day.

  • Lead Scoring: ConvergeHub can score leads by in-depth behavioral analysis from their real-time interactions with your website or app, so that every lead is treated equally.
  • Campaign Management: Using an advanced algorithm, ConvergeHub helps you to create highly personalized campaigns based on the behaviors of individual users, such as age range or gender preferences. Also, you can access data from other sources like Facebook ads or Google AdWords PPC ads when making decisions about creating new campaigns or adjusting existing ones based on performance results over time.

Automates Routine Tasks

Artificial Intelligence CRM like ConvergeHub automates routine tasks like adding contacts to certain lists, or updating the inventory list, so that you can focus more on crucial jobs.

For example, if you’re a salesperson and have a list of prospects in your CRM that need follow-up calls, ConvergeHub will automatically add these contacts to an automated dialer task that schedules those calls for the following week. If a lead hasn’t responded after two weeks and was marked as “prospect,” ConvergeHub will automatically send out a system-generated email reminding them about their opportunity or product offering.

  • Client nurturing: ConvergeHub also helps you nurture and manage existing relationships with customers. It sends out automated emails to your customers reminding them about upcoming orders or discounts on products they have previously purchased from you or others in your company (such as third parties)

Real time Analytics features help SMBs decide what went wrong at what touchpoint. It helps them decide what kind of updates are required to be implemented and how things are to be nurtured. Business decisions are always based on real-time data.

  • Lead Management: With ConvergeHub, each lead will be assigned a score based on their behavior, which allows you to prioritize your sales team’s time. This means that every lead can be given equal attention and treated as if they are of the same value. Artificial Intelligence also enables ConvergeHub users to send out emails to customers who have been inactive for a period of time, so you don’t lose contact with them. 

For example, if your CRM is connected to an email marketing platform like MailChimp, a CRM tool will automatically send out a welcome email upon signup that explains how the system works and encourages users to connect their social media accounts or import contacts from their existing email account.

Prioritize Lead Management

Lead scoring is a method of prioritizing the time you spend on each lead, based on their likelihood to become customers. As soon as your leads convert into paying customers, they are prioritized accordingly in your CRM system.

This is specifically helpful for businesses that have a potential customer base but are dispersed across multiple sales teams or departments within a company. It also helps companies dealing with multilevel sales processes and have different priorities based on how soon they are to close deals.

A Harvard Business Review article titled ‘How AI is Changing Sales’ states that AI algorithms can instantly impact five core areas of sales– forecasting, price optimization, upselling & cross-selling, lead scoring, and performance management. When Artificial Intelligence supports Customer Relationships, both can provide comprehensive information on all these parameters and result in a higher number of closes.

AI-powered CRM Enhances Customer Engagement & Retention

AI-enabled CRM tools can help create a tailor-made experience and interactions by determining the psychological status of your customer from their conversation pattern. Modern-day CRM tools can also perform a sentiment analysis by analyzing caller intent as well as the tone of the conversation to comprehend customer satisfaction levels in real time. With all such insights at your access, it’s easy to craft a winning customer engagement strategy and identify potential problems in the existing one. Accordingly, quick actions can be adopted to lower the escalation cases.

Boost Productivity and Efficiency

AI CRM like ConvergeHub is an all-in-one solution. Offering an enterprise-grade solution for Sales, Marketing, and Customer Support teams, it maintains the perfect coordination between all three. With all data at a single location, it helps all the departments to work in tandem while improving the productive efficiency of the organization. Also, you get crucial customer insights to develop an effective Sales funnel.

An all-in-one enterprise CRM results in a higher volume of Sales closures, customer retention, and more. Simultaneously, seamless integration between multiple teams will boost productivity and revenue generation.

ConvergeHub Understands Your Customers

ConvergeHub understands your customers as you do. It facilitates ease of communication, organizes customer data, and boosts customer service functions- all from a single location. Being AI-powered, it also streamlines operations in a way so that customer grievances are quickly addressed.

Wrapping up

At ConvergeHub, we believe that the power of artificial intelligence is only going to increase in the coming years and we’re excited to be at the forefront of these developments. Share your thoughts with us.

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