How AI is helping you increase your sales conversions

ai

Artificial Intelligence(AI) also referred to as Machine Intelligence is a branch of computer science that deals with the stimulation of machines such that they behave like human beings. This means that these computers are capable of performing those takes that can be done by human beings and also mimic their actions.

AI History

The history of Artificial Intelligence can be traced back to 1956, when the term was first coined, at a conference at Dartmouth University hosted by John McCarthy and Marvin Minsky, who were amongst the few scientists who were optimistic about its future. But unfortunately, due to lack of certain necessary resources, it leads to the AI Winter, which was a period of time that was spent only on raising funds and doing adequate research on the field. Finally, in 1997 IBM developed a computer called The Deep Blue, which became the first computer to defeat Russian grandmaster Garry Kasparov.

The Advent of Artificial Intelligence has revolutionized people’s lives in nearly every sphere including personal as well as professional. On social media platforms such as Facebook, Twitter, Instagram, etc., Artificial Intelligence helps in filtering one’s feeds on these platforms based on their preferences. Chatbots are another area where it is used. For example, the automated messages one receives about things such as delivery, order confirmation, etc. are all thanks to this technology. In fact, an article by Forbes talks about some of the best examples of efficient use of artificial intelligence. This is not the only way this Artificial Intelligence is used. It is used in numerous other fields such as defense, gaming, law enforcement, business, etc.

In the field of business, Artificial Intelligence is widely used in various aspects such as data entry, automation, and natural language processing. It is also commonly used in a few other business-related functions such as transferring data, fraud detection, customer service, etc.

Talking about the use of technologies such as these in certain important aspects of business mentioned above, the process of automation is done through email marketing. Ans all your email marketing strategies are dominated by email marketing. Now before getting into how it is done, it is imperative to understand what it exactly is.

The Cambridge Dictionary defines automation as, the use of machines and computers that can operate without needing human control. While email marketing can be defined as a way of selling products and/or services which is done by sending mass emails to a large number of customers. 

Email Automation

Automation in the email market has now become a common phenomenon amongst businesses. It refers to the process of creating and sending mails to the right customers, at the right time. In recent times, when everything as available with just a click of a button, this form of marketing has proved beneficial not just to companies, but to the customers as well. For example, when shopping for clothes online, people are required to register themselves using their email IDs. These are then used to send a blast of email amongst the target group exactly when they are buying clothes online and play a role in influencing their choices. Another way it has proved to be beneficial is by keeping these companies such that they are always directly and indirectly connected with the customers and are well aware of their needs and wants  

Another such business activity where Artificial Intelligence is used is, sales conversation. An important question that one may ask here is, what is sales conversion?

What is Sales Conversion?

Sales conversion refers to the process of converting a prospect to a customer. This means that a sales conversion consists of three parts namely- prospect, lead, and customer. A prospect can be defined as a potential customer, interested to buy a particular product or service. It is commonly referred to as the first stage in the sales process. A lead is defined as a positive prospect. Finally, a customer is a person who procures the service or product. For example, when a person walks into a furniture store they become a prospect. When he/she starts to look at a particular type of furniture say, a chair(s) and then further inquires the salesperson about other necessary details such as on-going offers, delivery, etc., they become a lead and finally when they take interest in buying the chair(s) they become a customer.

Another question people might ask is, how does it help in sales conversion? And when it does, how does it help in increasing sales conversion?

Not only does this technology affect how a customer purchases goods & services but also, how they are sold by the salespersons. Artificial Intelligence plays a key role in influencing a person’s choices as it controls or rather regulates their recommendations on social media feeds. For example, while surfing through Instagram a person might come across an advertisement of any clothing brand based on some online shopping they might have just done.

Drip Automation

Drip marketing is a method through which you send pieces of drips (communication) to your customers through triggers that they trigger. It is the best type of marketing automation to increase your sales exponentially. It helps you create a brand presence and retain it. 

Using Artificial Intelligence tools helps in effectively increasing sales as it allows companies to stay connected with the preferences of customers, which means that these firms constantly stay a few steps ahead.

According to research by McKinsey research in the Harvard Business Review, sales teams across various industries the made efficient use of machine intelligence noticed an increased lead by nearly 50%

Not only has this technology ensured for the business industry but it has also allowed these companies to indirectly stay connected such that the needs and wants of consumers are scattered across a vast geographical landscape. At this point, a person may ask how do these companies have access to this information? This happens with the help of something called internet cookies.

Internet cookies are small amounts of data collected from websites that a person visits. They are stored on a person’s system with the help of the web browser. Now, this information is usually not used with consent because every time a person opens any website, warnings such as this one below might be a common sight-

“This website or its third-party tools use cookies to improve your browsing experience and to provide more personalized services to you, both on this website and through other media. Use the page normally, or close this information field, to accept the use of cookies. To find out more about the cookies we use, see our Privacy Policy.”

Victor Antonio, author of ‘Sales Ex Machina: How Artificial Intelligence is Changing the World of Selling’ once  said “The power of selling is moving away from the individual and toward the machine – machines that can now prospect, follow up, present, and propose without human intervention,” He also added, “The power of selling is moving away from the individual and toward the machine – machines that can now prospect, follow up, present, and propose without human intervention,”

This means that although development and further advancement of technologies such as Artificial Intelligence have done a lot of good to the society on all spheres such as factories, business, education, etc., it has come at a cost. This advancement in technology has robbed some sections of the society of their livelihood, by replacing hard work that helps put food on the table of the under-fortunate, with advanced technology such as artificial intelligence.

As time passes, technologies such as Machine Intelligence are only going to continue to develop, and since everybody knows that excess of everything can be dangerous. This development in technology is must go on in such a way that no households are robbed of their livelihood, human connection is lost, and most importantly ensuring that this development does not lead to displacing jobs of many.


Author Bio

Snigdha Durbha, a 2nd-year media student and an aspiring writer. She is trying to carve a niche in a world that won’t stop talking.