Are you worried about AI replacing your job, or are you optimistic about how AI technology can help with B2B sales? This article is going to cover the advancements of AI (Artificial Intelligence) in the B2B sales space and will discuss the impacts that can be made with the rapidly growing technology.
You may be curious about the advantages and disadvantages that AI brings to the table. The development of Artificial Intelligence is providing advanced new methods for gaining opportunities to reach new cold prospects. Not only will it help with cold prospects, but it also has the opportunity to nurture your warm leads as well. It will transform the future of B2B sales in ways that we may not predict or imagine. Just as LinkedIn may not have been the sales tool that everyone had foreseen, AI presents such new opportunities.
With any disruptive technology, there are always pros and cons. Let’s talk about some of the advantages of AI technology first.
Advantages of using AI for your B2B sales process
AI can help maintain client relationships. You need to fully understand the client’s pain points and needs in order to satisfy them. Collecting this type of data is an asset that can be used in a new world with Artificial Intelligence. As a salesperson, your duty is to understand your potential client’s needs and guide them to return for more purchases. As you may know, there are many prospects that can be reached, but you cannot connect with every potential sale all at one time. These are some of the basic problems that can be solved in a systematic way using AI.
Improving Sales Productivity. Software now has the capacity to gather information on customers, prospects, scheduling meetings, processing orders, and more. One of the biggest impediments in sales production is the time spent on these tedious tasks. Therefore, salespeople only spend 35% of their time cultivating relationships with their prospects and customers. By integrating AI with CRM systems and other b2b applications, salespeople are now able to focus more of their time on closing deals.
Prospecting Advantages: Artificial Intelligence will be an absolute asset in the process of prospecting. AI will be able to assist all salespeople to increase the number of leads while simultaneously qualifying them. This is possible through recognizing the patterns in consumer purchasing habits. It can also help when proposing offers to potential clients based on aspects such as their industry, total number of staff members, and yearly income. It can determine the likelihood of a prospect becoming a client, which in turn will increase the total amount of sales.
With all of these advantages, who are the companies that are creating such tech?
Some of the companies that are emerging in the AI tech industry, specifically for sales are:
Just to name a few! Not only are the startups adopting new AI powered solutions, but established companies like Salesforce are also evolving with the new times and creating solutions to help clients as well.
Now that you understand the potential, what are the disadvantages?
The disadvantages of AI in B2B Sales
Too much reliance on AI. There’s a fine balance in the usage of AI. It has been shown that if companies decide to use AI such as chatbots too often the clients feel as though they’ve been disregarded. This tool can be used as a support mechanism for your sales team but can also neglect the most important factor in any business, your prospects and clients. Furthermore, relying too much on algorithms as well can be detrimental. As AI keeps improving this minimizes the mistakes during the sales process, but with every advancement comes with its own flaws. Creating an algorithm that will 100% be able to predict human decision making is unlikely and would be wise to not put all your eggs in the AI basket.
Human to human industry impacts
AI will not only impact sales and prospecting, it will also have impacts on other human-related industries such as customer services. Instead of representatives answering frequently asked questions, these can be more easily answered by AI. In today’s SaaS world, chatbots are becoming a popular tool that many companies can quickly adopt using plugins and other technologies.
Although customer service has the potential to use AI, many people prefer not to complain to a chatbot. This does not reflect well on customer service. Humans want someone to understand them. We are emotional creatures and want someone that can empathize with our emotions.
What will remain? Though AI will play a crucial role in sales for the present time and in the future, it’s not a substitute for salespeople. This would instead complement their day to day activities and help them become more efficient and freeing up their time to focus on what matters such as making nuanced commercial decisions or building an ongoing relationship with a customer. This cannot be automated and will likely remain at the core of what sales reps do in the future.
If you’re interested in learning more about what B2B sales will look like in the future, be sure to check out some of the best B2B sales podcasts that will discuss the future of sales.