The Impact of Generative AI on Sales Transformations
Revamped Sales Revolution
In the corporate world, sales functions have been sluggish when it comes to adopting the latest tech. Yet, Generative AI could potentially change that narrative. Imagine AI as the digital sidekick for every salesperson.
Sales teams stand as the ideal candidates for generative AI capabilities. Interactions in sales are characterised by intense cooperation and data generation - emails, audios, videos, images, and more. This wealth of information offers abundant chances for interpretation and learning, domains where generative AI excels.
However, implementing generative AI isn't without its hurdles. These AI programs must blend seamlessly with existing workflows, creating zero friction or learning curve for the sales team. Moreover, the AI programs must be tailored to the specific needs of each organisation and sales team, which could entail significant initial investments and ongoing fine-tuning.
AI-Powered Sales Boosters
Eliminate Redundant Work:
As organisations expand, so does the sales team and the associated administrative load. This includes documentation, approvals, and compliance-related tasks. New technologies necessitate fresh training for the team and numerous reports to monitor. AI systems can aid in managing these administrative tasks, for example, by helping salespeople draft emails, respond to product inquiries, or update CRM data, allowing them to focus on high-value activities.
Optimise Customer Relationships:
AI-driven systems can be valuable tools for sales team members, enabling the provision of personalised content, product offers, or communication strategies to customers. Built on records of previous customer interactions and purchases, these suggestions can be easily accepted or customised by the sales team.
Functioning like a query system, AI can provide tailored suggestions for potential customers, along with recommendations for the best means of communication. Empowering sales team members in this manner not only enhances customer interactions but also facilitates the discovery of new opportunities.
Assisting Sales Managers
Data-Driven Insights:
Managers can benefit from AI-generated insights that offer a comprehensive understanding of their team's performance and overall growth. Armed with these insights, managers can identify areas for improvement, provide meaningful assistance in closing orders, and suggest targeted training to boost performance.
Capturing AI's Potential
Generative AI is a modern innovation with a bright future. To maximise its potential, it's crucial to establish safeguards to prevent inaccuracies, biases, or falsehoods that may erode trust in the system. In addition, there is a dire need for more AI professionals, making it challenging to develop a system that seamlessly suits your organisation's needs.
Mitigate Inconsistencies and Errors:
AI-driven programs may occasionally provide incorrect information or inferences. To address this, users must learn how to pose effective queries and understand when to deploy these technologies. Proper training and the sharing of best practices can help in this respect. Incorporating human review into the workflow also plays a vital role in maintaining accuracy and training the model to improve over time.
Realising Value
As technology progresses, the value generated can be realised within a few weeks. A straightforward method for integration is assimilating these strategies into existing systems effortlessly. AI tools can help create high-quality deliverables, such as emails, presentations, or quotes, working quietly in the background without the need for users to learn new technology.
Maximising Returns Without Increasing Costs:
Explore options for outsourcing, particularly in terms of development. This not only saves time but also allows your in-house team to focus on critical tasks. An agile approach, encouraging continuous improvements, can further boost the value generated and keep your company on the cutting edge.
The AI-Amplified Workforce
The introduction of AI systems is often feared as a change that could lead to staff reductions or automation of human jobs. This misconception, however, overlooks the truth: AI systems are designed to streamline routine tasks, enabling employees to excel in high-value, creative pursuits.
Empowering Employees:
By automating repetitive tasks, AI systems free up employees' time, allowing them to focus on critical analyses and creative solutions, ultimately improving productivity. Integrating AI can also help deliver high-quality work, such as enhancing emails, presentations, or customer support.
Consumers increasingly seek out multiple digital channels for self-education before making a purchase. Employees, in turn, must be ready to respond quickly and effectively to meet or surpass these ever-rising expectations. AI technologies can help deliver the right information to the right person at the right time, creating a seamless customer experience.
Despite the advancement of AI systems, the role of a salesperson cannot be replaced entirely. Users still require human interactions for complex offerings, where personalised solutions are needed. AI systems can augment and streamline these interactions, enabling salespeople to deliver higher-quality, tailored solutions to customers more efficiently.
Prabhakant Sinha, Arun Shastri, and Sally E. Lorimer – HBR 2023/03
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