Sales is an area in which machine learning and AI solutions can be readily applied. Demand forecasting enables the optimisation of inventory to minimise storage and provisioning costs and the opportunity costs of lost sales and profits. In addition, customer segmentation models and recommendation engines facilitate hyper-personalisation of targeted marketing for cross-selling, up-selling, and enhanced customer engagement.
Machine learning has a clear role in automating or enhancing the following sales business processes:
Lead Generation – Creating automated contact lists for outbound communication.
Lead Cleansing – Verifying that contact data is accurate (automatically referencing existing CRM data with new updates across various outside / inside information sources).
Responsive E-mail Cadence Automation – Automatically following up with unresponsive leads using targeted campaigns that vary depending on the lead’s behaviour, or CRM data points about the lead itself.
Sales Script Optimisation – Using automation to learn the phrases, cadence, and processes of the best salespeople in an organisation, and model / teach those skills to lower performing salespeople.
Sales Forecasting – Leveraging CRM data, current activities, and historical performance to predict sales performance.
Sales Content Optimization – Ensuring sales representatives have the best content for customers: personalising their upcoming sales meeting (for example, automatically matching a lead’s profile with the sales material most likely to convince that particular lead).