Bringing out the best in CRM software goes through artificial intelligence for an optimized experience. Then, how is CRM related to artificial intelligence? In what capacity could artificial intelligence improve the CRM system?
About CRM and Artificial Intelligence
Customer Relationship Management (CRM) software is becoming highly interested nowadays. According to the data published by Fortune, CRM software will not only maintain the high market volume- but will also keep up with increasing it. CRM software is expected to reach 128.97 billion dollars worldwide market value by 2028 which was determined 52.64 billion dollars in 2020.
Artificial intelligence (AI) is the crossroad for maximizing the efficiency of CRM systems as the business world continues to develop and evolve progressively. When the amount of unstructured data, the complexity of customer relationships, and the popularity significantly increase, one can no longer speak of data processing without artificial intelligence.
Advantages of AI-Powered CRM Systems
AI has a critical impact on CRM systems alongside its rich contribution to sales operations. The transformation of CRM systems through new functionalities will not be seen as a surprise when integration with artificial intelligence is considered. Companies benefit from the integration of CRM systems with AI, so here are the expected achievements:
1) Ensures Data Integrity
The research was implemented by Dun & Bradstreet on data input where it turns out that 91% of the CRM data is missing whereas 18% of them are categorized as multiplied input. Each year, 70% of the data loses its currency. According to the same research, every 8 out of 10 companies believe that those dysfunctional data manipulates their operations. Besides, 25% of the companies lose their reputation.
Dysfunctional data cleaning is a step towards achieving efficiency in CRM systems; the cleaning is made through artificial intelligence integration to the systems. According to Statista, if the global data will be higher than 180 zettabytes in 2025, it can’t be helped unless AI integration is applied.
Incorrect data entry into CRM systems might create irregularities, abnormalities, copies, and other errors that result in a bad customer experience. AI can detect these errors and by integration with third-party databases, missing data can be interpolated. Real-time updating enables the update of recordings while the input changes constantly. Data integrity is ensured by the updates and removal of insufficient ones.
2) Enables Predictive Lead Scoring
Lead scoring is a way to analyze data in aspects of the potential customers and business-customer relationship. Classification of potential customers as qualified and unqualified becomes possible by assigning specific scores, thus the sales representatives have their precious time on the beam. Also, the sustainability of the sales funnel in a company goes through identifying the potential customers. In line with 74% of the companies, one of the priorities is to turn potential customers into loyal customers.
The lead scoring process is conducted manually and within a specific frame in classical CRM systems. That means the loss of time and money for the companies where everyone shows a great effort, but AI makes the process way easier by integration. Companies can obtain various data either in real-time or for a specific date. Meanwhile, these demographic and geographic inputs, activities, and website behaviors of customers identify their purchase habits for your company. Prediction starts herein due to the analysis, so AI could pick the best fit. AI integration not only provides excellent lead scoring- but also saves effort and costs.
Improved Customer Interaction and Loyalty
The possibility of applying personalized experiences and interactions is the other benefit of using AI-powered CRM systems. Text- sound-based words and speech patterns are paths to personalize the experience by analyzing the customers’ emotional state. As is known to all, 80% of the customers are more likely to purchase from personalized experience provider brands, thus AI-based CRM systems will accelerate the sales rate of the companies. Emotional state analysis and image recognition technologies will be the frosting on the cake since they enable real-time feedback. Feedbacks are the key actor for identifying problems and responding to them rapidly.
You are at the Right Place for AI-Powered CRM Systems: Infoset
AI-powered CRM systems outweigh classical CRM systems in aspects of corporate functions. Optimization in customer interactions seems inevitable with AI-powered CRM- not only that, but it also enables the management of customers, sales processes, and responsibilities from one stop. Thanks to Infoset’s service, integrated e-mail and call center, automation, live support, and chatbots will make your company achieve the lead faster. Start using Infoset today and proceed your company’s operations to the next level with AI-Powered CRM systems!