Sales

How to use AI to boost sales effectiveness and grow revenue

Health Industry Hub | September 11, 2019 |
[Total: 1    Average: 5/5]

If you’re like most sales leaders, you constantly evaluate the best ways to improve team efficiency and bottom-line results. However, try as you might, the reality is that your future success will depend on the speed with which your organisation adopts AI.

According to a 2018 McKinsey study, companies that use AI in the next five to seven years will increase their cash flow by more than 120% by 2030. Companies who don’t use AI will instead see cash flow drop by -23% in the same time frame. Compare those figures with what Salesforce learned in their most recent “State of Sales” research report: only 21% of sales leaders report that their organisations use AI today.

How are the best sales teams using AI?

1. Prioritise the best leads and high potential customers

With AI, you can put your historical data to work to reveal patterns that show what the best customers look like for your business. Since AI continually analyses your customer data and understands the attributes that defines top customers, sales professionals can focus their efforts on the leads that are mathematically most likely to convert.

2. Identify opportunities that are on track or at risk

AI can prioritise opportunities. As most sales professionals manage many opportunities concurrently, it’s not always easy to give each one the attention needed or recognise hidden signals of when an opportunity is falling off track.

With AI, subtle changes are identified and flagged. Not only does AI act as a personal assistant to the sales professional, but the sales manager also has visibility into the potential issue. Now, both the sales professional and their sales manager can work proactively to avert a potential loss or no decision earlier. Plus, they can use their limited one-on-one time to focus on the opportunities that require the most attention.

3. Increase forecast accuracy

One of the most challenging aspects of every sales leaders’ job is calling the forecast. It’s a task that’s wrought with challenges. Are sales professionals over-committing? Are they sandbagging? Are managers applying the right judgment on their teams’ forecasts? This is a perfect job for AI to help decode the tendencies that exist in your sales cycle, right down to each and every sales territory.

AI can predict where the forecast will land and surface the factors that play into the prediction — including the personal forecasting tendencies across each sales professional and sales manager.

You may also like Leading loyalty – cracking the code to customer devotion


About the author

About the author

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Nam luctus finibus scelerisque. Nunc bibendum ipsum sed augue fringilla fringilla. Nullam at consectetur leo. Praesent viverra rutrum porta. Quisque vitae mi vel purus vulputate tincidunt. Class aptent taciti sociosqu ad litora torquent per conubia nostra, per inceptos himenaeos. Suspendisse et mi quis nisi rhoncus feugiat at ac tellus. Sed aliquam sodales nulla ac auctor. Sed pretium lobortis purus accumsan ullamcorper. Phasellus sodales vel odio in lobortis. Duis maximus sagittis bibendum. Interdum et malesuada fames ac ante ipsum primis in faucibus. Nunc dictum tincidunt ipsum in vestibulum. Donec ut sem consectetur, aliquam quam vitae, pharetra orci. Nam egestas non velit eu rhoncus. Duis congue neque non lacus tincidunt porta. Vestibulum ultricies pulvinar sem, molestie congue dui aliquet non.
  • Ut imperdiet leo id lorem fermentum consectetur.
  • Ut vitae orci et dui varius tincidunt.
  • Ut id magna non libero vestibulum pharetra ac faucibus nulla.
Aliquam erat volutpat. Vestibulum vitae varius diam. Nulla eget congue ante. Nunc ullamcorper sagittis augue vel dictum. Mauris finibus nibh ut pulvinar auctor. Vestibulum ut faucibus nisi. Orci varius natoque penatibus et magnis dis parturient montes, nascetur ridiculus mus. Quisque porta tortor ac justo malesuada elementum. Nulla tellus ante, cursus nec ex sit amet, suscipit bibendum arcu. Duis posuere orci dui, et mollis enim dictum at. Sed ullamcorper, sapien ut vulputate viverra, sem purus porttitor tellus, nec mattis mauris ligula sed risus. Nulla sagittis id ipsum eu mattis. Link to full profile

Social Responsibility

Social Responsibility and Community Engagement - World Cancer Day 2020

World Cancer Day 2020

Health Industry Hub | January 22, 2020 |

People across Australia will come together on 4 February to reduce the impact of cancer around the world. 2020 marks […]

More


News & Trends - Pharmaceuticals

Pharma Medical News - TGA reveals new regulatory science strategy 2020-2025

TGA reveals new regulatory science strategy 2020-2025

Health Industry Hub | January 22, 2020 |

New technologies such as gene therapies, other cell and tissue therapies, 3D-printing, and software as a medical device are transforming […]

More


Marketing & Strategy

Biopharma marketing - embracing change for growth

Biopharma marketing – embracing change for growth

Health Industry Hub | January 22, 2020 |

For years, biopharma companies have celebrated their “patient centricity”, yet only 35% of patient groups say that the industry is […]

More


News & Trends - Medical Technology

MedTech News - Medtronic to launch a game changer for patients with neurological disorders

Medtronic to launch a game changer for patients with neurological disorders

Health Industry Hub | January 22, 2020 |

Medtronic announced the CE Mark for Percept PC neurostimulator; it is the only Deep Brain Stimulation (DBS) system to be […]

More