In this blog, you will get an insight into the CRM using artificial intelligence and the intelligence automation churns for CRM.
CRM using artificial intelligence
CRM has been around for several decades helping enterprises, big and small, to get customer data into their systems. These traditional CRM systems are focused towards customer-facing functions of any business surely. The top users of CRM have been sales teams and customer reps, who have benefitted from the synchronised data available inside the digitised databases for its smooth and unambiguous representation across all channels. This surely has been a great booster that has helped companies streamline their customer touchpoints.
In this fast-changing world, it’s time to move on. CRM systems have been quite rudimentary when it comes to the creation of workflows and even data entry which has been largely been manual till date. CRM using artificial intelligence platforms and tools, of course, have geared up and are now offering multiple ways to deal with this. The answer lies in automation.
The stepping stones
Intelligence automation churns for CRM
There has been a great deal of capability building in the CRM systems that are available both off-the-shelf and as customised software. There is now workflow automation, for instance, that help to synergise business processes, sales, marketing, and even working methodologies. Rules can be defined for assigning leads, tracking sales, auto-escalation paths, pre-sales & post-sales follow-ups, alerts, auto-forwards, and the like. Then, additional features such as lead nurturing, lead management, deal management, calling automation, and customer support automations have been a boon to managing growing business with large and global footprints.
A lot of hype has been also created around marketing automation with CRM. Here, the idea has been primarily to catch the attention of the potential customers via marketing and then continue the engagement starting at the small-time interval when they showed interest in the company’s products or services. This will cover all aspects, right from having dedicated apps that connect to the company’s CRM directly via web-based or mobile-based interfaces. These pump data in transparent ways in/out of the backend systems, for marketing and sales to refer back to a unified system.
More on board
As the wheels of invention and innovation roll at break-neck speed today, automation is already geared up to the next level. This is where ‘smartness’ comes into play. The digital boom of today has now thrown up excellent sources of information at the disposal of businesses. Yes, the amount of data being generated in the digital systems holds the potential to unlock deep customer insights that can be turned into actions to promote business growth and add to their bottom-lines.
Does all this fit in with CRM? It does, of course. This data is about the customers, their behaviours, their preferences, their history, and the like. This is what drives Amazon to push up the recommendations of likely products for personalised experiences. And it is all being made possible by automation powered with artificial intelligence (AI).
The next plane
CRM using artificial intelligence helps a business understand how a customer thrives in the online world, trailing and tracking activities across social media, competitors’ websites, and other portals as well. The huge volumes of data generated in real-time needs to be captured, analysed, and moulded into meaningful numbers and insights. This definitely cannot be done via traditional algorithms.
Given technology game-changers such as Big Data, cloud storage and cloud computing, the gathering, collation, representation, analysis, and mapping of the data is pushing companies to practically apply the insights to carve pleasant customer experiences that indicate that the company ‘knows’ them well.
Riding on the tech wave
Thanks to intelligence automation churns for CRM, there is now the realm of new-age technologies such as machine learning and deep learning. These algorithms sift out huge datasets and recognize patterns at scales far greater than what the human brain can achieve in such a short time or across such a wide spectrum of data points.
The ‘smart’ algorithms can provide advice such as data-driven suggestions and decision support systems. The enterprise users are now no longer perceived to be only the end consumers, but also internal users, the employees. The enterprise users thus feel empowered by the automated intelligent support, in turn freeing them up from mundane and manual part of their jobs. This boosts productivity in the staff, helping them focus on what the humans are most suitable to do. In turn, these tasks map into finding improvement areas from within and nurtures a collaborative spirit of efficiency.
For instance, AI can help customer reps to predict reactions of the customers or leads that they choose to call. They could then, for instance, spend time effectively reaching out to those customers that are willing to take the engagement further. In fact, the algorithms could even recommend different actions and approaches for each lead to salespersons, taking away a lot of frustrating time in manual follow-ups.
Data, data, and data
With media like social media platforms, websites, text and mobile-based messaging and apps, there is more digitised data flowing between the company, its customers, and even the customer agents. The ocean of data can be a goldmine for data mining avatars for data analytics. CRM using artificial intelligence -based data analytics can help demystify and decode data at all levels. These can show the path forward for making informed BI-led decisions, make measurable goals, and even track the progress of processes towards those goals.
Tracking and monitoring from across all functions can now be made to sit as a single dashboard available in real-time to the stakeholders. This brings out a whole new dimension of customer-centricity for enterprises. Apps and bots are the latest buzzes that make use of AI and interact in user-friendly ways to leverage the insights.
And the show starts
Predictive analytics has deep and far-reaching result-oriented benefits for any business, across any type of industry. It allows a CRM-based business to become smart and proactive. It helps bring down operational costs, increases visibility into the front-end and back-end processes, enhances productivity and efficiency as well – key factors for success.