CRM, Customer Relationship Management, has become the most dreadful marketing technique for small businesses as CRM requires you to invest a lot of money to manage and support clients.
These small enterprises have not been able to manage their customers properly as they could not update the data and the content or couldn’t understand the workings of CRM due to various factors. But with the help of Artificial Intelligence, even small businesses are able to manage their CRM in a smart way.
What is CRM?
Customer Relationship Management, also known as CRM, is a marketing technique where software is created to manage the customers and interactions with them. This platform helps in collecting information from the customers and converts it into useful data for the organization or the brand. This helps in maintaining customer loyalty and helps in coming up with a variety of marketing campaigns to increase the sales of the organization.
How does CRM work?
CRM not only allows you to maintain relations with existing customers, but also connect with potential customers. Effective implementation of a robust CRM enables you to collect tons of data that can help you reach out to potential customers.
This data helps you establish a direct connect with likely customers through multiple channels like polls, online forms, emails, phone calls, and social media platforms. It is estimated that by 2021, an additional $394 billion in revenue could be gained by the adoption of Artificial Intelligence in CRM activities in the United States alone.
The big push in mobile data speeds has made the online platform much wider and accessible to people, as a result of which ads on this platform have also become much more popular. The increasing reach of social media has attracted many enterprises to invest in tailor made CRM platforms to engage potential customers en mass with a relatively lesser spend.
Artificial Intelligence with CRM, the new era:
Here are a few marketing tips that small business owners can employ with the help of AI (Artificial Intelligence):
AI Powered Data:
Building customized software to extract data and manually create new updates in the software to change the target segment can take up a lot of money and time. Artificial Intelligence will help in collecting relevant data with the keywords provided by the organization.
AI-based CRM software will help in providing qualitative and quantitative analysis of the data collected for further product development and marketing campaigns. With the pre-built features and technology present, AI has become more cost-efficient than other methods to collect and analyze data.
Hiring Talent Through AI:
Over the years, as hiring methods have changed, hiring talented candidates has become even more challenging. With the rise in employment portals and web recruitment services, small businesses face a tough time finding the right talent for their organization.
AI software helps in choosing the right talent required, based on the position available in your organization. This process will help you understand whether the candidate will be able to cater to your requirements based on past experience of the applicant. With the help of machine learning algorithms, AI software will glance through multiple portals and shortlist candidates.
Many enterprises have already benefited from the unique talent selected through such AI driven systems.
Managing numerous verticals and departments at the same time in an organization becomes challenging. Fortunately, AI powers your business by focusing on each departments performance and following the status of tasks to be performed by each vertical.
This also helps in allocating the required resources for optimum performance of each vertical, thus managing time and increasing productivity in a very short span.
Using AI-based technology improves employee performance and helps in achieving the desired results. Also, they won’t have to worry about working on cases that might take them weeks to complete instead of hours.
From small businesses to multinational corporations, marketing campaigns are actioned aplenty to convey products and acquire consumers. Marketing campaigns produced based on manually collected data may not be completely accurate as there are chances of the collected data being misinterpreted.
An AI-based marketing platform will help in collecting accurate data and in understanding and even predicting whether the campaign will achieve its stated objectives. This technique helps small businesses launch their marketing campaigns with constructive insights like the most favourable time to launch in order to capture the right audience & disseminate the required brand information.
This software platform will also create an alert in case there are any changes in the economic factor that might affect your business.
AI For Your Customers:
In addition to your business benefiting from AI, it is also effective in managing your relations with your customers. Automated responses to client issues usually leave a lot to be desired due to the conceived lack of human touch. AI-based customer service provides near human responses to customers to generic FAQs.
This method helps you save time of your customer service team as they won’t have to answer all queries. Such chatbots improve the quality of interactions with customers and helps cultivate user response which progresses over time due to more number of such used cases for AI to comprehend.
With AI-driven CRM, small businesses will be able to update the generic time-consuming data within hours instead of weeks. Businesses will not have to worry about handing over your data collection and analysis to external vendors as the AI software is more than capable of handling such tasks.
Artificial Intelligence In Business
With its targeted marketing campaigns, AI is an advantage for any organization. AI-powered CRM from software vendors like Smart Sight Innovations will help overcome language barriers and reach out to potential customers globally. With auto-translation features, multiple languages can be operated within the AI software that helps you connect with customers across the globe.
Consumers these days are bombarded with ads on all platforms leading to a very short attention time span, which makes it imperative for even small businesses to invest in such far reaching AI empowered CRMs, helping them expand exponentially.
Note: Originally posted at Smart Sight Innovation’s Blog