Amazon to guide the acquisition of simple products is highly effec- tive. And Websites can use AI algorithms to sell simple products to businesses and governments as well. And Eatmon agrees that effective and accurate prescriptive analytics to guide sales reps on effective selling will, when it finally comes, be a major advance.
Hurdles and Benefits When will the best tools really arrive? And what are the hurdles to
implementation? Cilley insists, “You’ve got to have the data.” And AI works best when it has all the data on prospects – from whatever channel the data comes in. That is one reason Cilley foresees the inte- gration of various platforms that now support different sales channels. Apart from tapping all the data, Cilley says AI tools will usually re-
quire about 24 months of this data to develop truly valuable insights. Cilley argues that some AI tools can be used by companies of any size, while others may not be. AI to monitor and analyze sales con- tacts works for small as well as large companies. Software that moni- tors one channel and enters results in CRM is available for as little as $15 per month, while a half-dozen channels can be monitored for $60 per month. Another easily affordable tool is software that converts relevant blogs, podcasts, and articles into audio recordings reps can listen to in cars. On the other hand, AI that requires the integration of a company’s own data with third-party data may be affordable only for large com- panies that can buy costly third-party data. Gartner’s Travis agrees on the importance of data. “The best ben-
efits are for companies that have already cleaned historical data in their CRMs.” And implementing AI also requires managers to have a clear understanding of their current end-to-end sales processes. Once these AI requirements are met, large companies have a choice when seeking to implement prescriptive analytic AI to guide salespeople. They can either buy commercial off-the-shelf solu- tions or build their own algorithms. Travis says companies with very complex and sophisticated sales processes may have to invest in in-house development. Fortunately, “very large corporations are capable of doing that.”
Real Benefits But benefits are achievable even with simpler AI tools. For example,
one company purchased an AI tool that recorded voice contacts and entered relevant data in its CRM system. Travis says some reps reported a 25 percent increase in revenue during the pilot. The new tool was not only saving reps data-entry time, “it was capturing bet- ter data – deeper, more relevant information on what was happen- ing – and giving them a better set of signals,” Travis says. Shea notes that much sales AI software is now available as a ser- vice and can be rented for a per-rep fee with credit cards – making it highly affordable for smaller sales forces. But she urges that com- panies seeking to deploy AI tools learn from the mistakes made in implementing CRM. “Bring in key reps and managers, expose them to use cases, help them understand how to use them and how they fit in workflow, and get their buy-in.” The benefits can be significant. A recent Forrester survey reported that implementing just three core sales tools with AI – for engage- ment, automated enablement, and sales readiness – yielded a 20 percent increase in revenue in a year, a 25 to 50 percent reduction in ramp-up time for new reps, and a 666 percent ROI in three years. That’s not artificial – that’s a real result of intelligent sales.
“In B2B sales, a trusted relationship is ev- erything. We are seeing a sea change where leaders are using AI-fueled social selling tools to build trust with buyers and deliver personalization at scale. This enables sales to share relevant content to build a personal brand, instead of making marketing noise that undermines credibility.” Mike Orr, Co-founder, Grapevine6 LinkedIn profile
“Top revenue leaders need to lead from the front with AI. AI should be their team’s compass to cut through messy, incorrect CRM data and weak sales execution tools. It should align CFOs, CROs, managers, reps, and supporting go-to-market teams towards a shared True North of revenue acceleration.” Trevor Rodrigues-Templar, CEO and President, Aviso Inc. LinkedIn profile
“Nearly two-thirds of reps’ time is spent on non-revenue-generating activities. Con- tent management tools with AI-powered search allow sellers to quickly find relevant content that’s been effective in similar situations. This optimizes sellers’ time and ensures they’re relying on content that’ll enrich buyer conversations and aid in the sales cycle.”
Marc Romano,
CTO and Co-founder, Seismic
LinkedIn profile
“There is no practical one-size-fits-all ap- proach to coaching sales professionals. The challenge remains to be the number of styles and nuances that may present themselves in a given sales interaction. In the absence of artificial intelligence (AI), it’s impossible to scale an effective coaching methodol- ogy that takes into account how to optimize engagement levels regardless of tenure and experience in real time. That’s the power AI offers within our platform.” Ed Ross,
CEO and Founder, Core Ai™ LinkedIn profile
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