The Selling Power 2020 Top AI Solutions for Sales
In recognition of the significant, positive impact of artificial intelligence (AI) solutions on professional selling, this year’s list comprises an ever- widening and deepening field that will impact sales efforts and operations well into the future.
The number of applications for AI in sales is growing daily. McKinsey & Company predicts AI will contribute $1.4 trillion to $2.6 trillion of value in marketing and sales. For the 2020 list, Selling Power reviewed several hundred AI tools for sales.
While every sales manager faces a daily avalanche of information, AI
promises to handle much of the incoming communications and more. Lit- erally hundreds of new sales technology companies offer AI tools to help sales managers make smarter decisions faster so they can accelerate sales and help their teams become more productive closing actual deals rather than chasing online phantoms. Here are just a few examples of what AI can do for sales: 1. Analyze which leads are most likely to convert to deals. 2. Examine past deals and discover how to use that information to struc- ture new deals.
3. Study sales pipelines and create a highly accurate sales forecast (bet- ter than 90 percent).
4. Send sales reps AI-generated response suggestions during live cus- tomer conversations.
5. Determine the next best action for a salesperson to follow after a customer conversation.
On balance, the benefits of AI solutions help sales teams reclaim the time they spend on core selling activities and dramatically reduce the need to spend time on administrative activities. The “Time Management for Sales” research report from
InsideSales.com shows administrative tasks take up 14.8 percent of a sales rep’s time (almost six hours per week). Similarly, CSO Insights has found that up to 36 percent of a salesperson’s work week is spent in meetings and accom- plishing administrative tasks. Meanwhile, Gartner says, if deployed cor- rectly, AI can automate almost half of the administrative tasks to which salespeople devote time each week. Gartner predicts that, by 2020, 30 percent of all B2B companies will employ some kind of AI to augment at least one of their primary sales processes. “When sales managers drown in information, their ability to make de- cisions atrophies and sales slow to a crawl,” says Gerhard Gschwandtner, Selling Power magazine founder and publisher. “That’s why hundreds of new sales technology companies offer AI tools that help sales managers make smarter decisions faster so they can focus on accelerating revenue and profits.”
Note: This list is sponsored and is organized in alphabetical order; no priority or ranking is implied.
18 | MARCH 2020 SELLING POWER © 2020 SELLING POWER. CALL 1-800-752-7355 FOR REPRINT PERMISSION.
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Solutions ro f
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