AI-Powered CRM: An Exceptional Tool for Businesses

By 1 September 2020 January 13th, 2021 No Comments

AI-Powered CRM: An Exceptional Tool for Businesses

Do you want to convert more prospects? Retain your customers? Then you need to provide the best customer experience possible. For that, your sales service must be fast, high-quality, and personalized. An AI-powered CRM is the ideal tool to achieve these goals. It not only automates repetitive tasks but also helps you make the right decisions to achieve better sales results. Let's dive into the AI-enabled Customer Relationship Management software!

What is an AI-powered CRM?

A Customer Relationship Management (CRM) is a software tool used for managing customer relationships in a business. It stores personal and commercial customer data and organizes it to facilitate the work of human resources. For even greater efficiency, some high-quality CRMs operate with artificial intelligence.

AI enables the software to make decisions similar to those made by a human. These decisions are based on the experience recorded by the machine through Machine Learning.

There are two types of artificial intelligence:

  • Conversational artificial intelligence, also known as "weak artificial intelligence," enables machines to imitate human conversations.
  • Reasoning artificial intelligence, also known as "strong artificial intelligence," enables machines to learn, plan, make judgments, interpret, and find solutions to problems.
Conversational AI in CRM

Voice Assistants
Your teams likely spend a significant portion of their work time on repetitive and time-consuming administrative tasks. During phone calls, they have to manually enter all customer information and then process it.

To address this issue, AI-powered CRMs include voice assistants. These tools analyze, transcribe, and translate oral conversations with your customers.

They then structure these voice commands into tasks within the CRM, which are accessible to your team members. With this solution, your teams can manage their schedules much more efficiently, and your customers will be satisfied with the swift assistance.

Voice assistants can also be used for dictating emails. This is another way for your teams to save valuable time that they can dedicate to more important tasks.

More and more company websites are now equipped with chatbots. These are conversational agents that automate the process of responding to customer inquiries. These virtual assistants are capable of interacting with users in a human-like manner.

Chatbots operate with artificial intelligence: they understand and analyze user queries based on stored data. This tool is highly beneficial to businesses as it enables responsive and dynamic customer service while saving time for employees.

Reasoned AI in a Customer Relationship Management Software

Task Prioritization
The CRM software will assist you in determining the likelihood of converting a prospect into a customer. It can prioritize tasks to increase your sales efficiency.

You will know which actions to take and when the opportune moment is. Not all leads need to be immediately addressed. You just need to identify the most urgent tasks. An AI-powered CRM is the ideal tool to improve customer satisfaction and enhance performance.

Automated Predictions
Your CRM holds a history of customer data that can be organized and analyzed by algorithms using AI. With this data, the software can provide recommendations on how to best address customer demands.

For example, the software can advise you on the preferred support channel for a specific client. These predictions made by your tool through artificial intelligence will help you convert more prospects and retain existing customers.

Revenue Forecasting
Classifying all the data that contributed to revenue generation in your company can be challenging. An AI-powered CRM can analyze revenue-related data and draw conclusions to forecast your future revenue. This way, you can determine if your efforts are paying off or if adjustments are necessary.

If you're looking for a CRM-BPM software that utilizes artificial intelligence, GeoProd is the solution you need. This exceptional tool, dedicated to the banking, insurance, and mutual sectors, will effectively convert prospects into customers.