Artificial Intelligence has brought revolutionary changes in the marketing and technology space. With integrated software in the form of chatbots and extensive marketing tools based on conversational AI, businesses are augmenting their sales efforts and improving lead generation.
With Artificial Intelligence (AI) bridging the gap between potential customers and business enterprises, conversational AI has taken over. Conversational AI, automated messaging apps, speech-based assistants, and chatbots are helping automate virtual communication and offering a personalised experience to the customer.
Millions of brands and companies are implementing conversational AI in their business models to draw in more sales and generate leads. While some countries have already accepted AI business frameworks, others are on their way to incorporate it effectively in their business world.
UAE targets AI to bring data revolution for achieving Sustainable Development Goals by 2030.
The UAE has sought a joint global action and co-operation to harness the latest technological advancements such as Artificial Intelligence to deliver its Sustainable Development Goals. The UN Statistical Commission decided in New York. It was decided by Abdulla Nasser Lootah, the director general of the Federal Competitiveness and Statistics Authority (FCSA).
In 2017, the UAE government had launched ‘UAE Strategy for Artificial Intelligence (AI)’ which aims towards achieving the objectives of UAE Centennial 2071. Apart from this, many companies are integrating AI as a significant part of their business, especially in the marketing and sales department.
Also Read: 5 Ways You Can Use Chatbots in Marketing
How Can Conversational AI Drive Sales and Boost Market Penetration?
Getting up close and personal with your customers is the key to have the edge over your competitor. With more people using digital media and social media platforms to connect, evaluate and make decisions, it is imperative to look for effective methods to increase reach.
Surveys show a strong business case for using AI technology:
- 83% of shoppers prefer a helping hand or support while shopping online.
- According to Google Trends, (a software used to determine the trending topics all around the world) shows that the search for “Chatbots” has grown about 19 times. (Chatbots are one form of conversational AI).
- A survey by LivePerson, showed 38% of people felt positive about their conversational AI experience.
- According to a report about AI by Ubisend, 1 in 5 consumers would prefer purchasing services and products from a chatbot, 40% consumers would take offers and deals from chatbots and consumers are willing to spend around $400 via a chatbot.
- According to a HubSpot research report, 71% of people use artificial intelligence based tools such as automated messaging apps, emails and other methods to solve their problems. 56% would instead go for messaging than call customer service and 53% of people are more likely to shop from places where they can chat online.
Also Read: Netcore Acquires AI Chatbot Start-up Quinto.ai
Benefits of Conversational AI in Marketing and Sales
Building a solid product is the first challenge, but marketing it is the second and the biggest is generating actual traction for it, which later would convert into sales. With the world running on automated software and technologies, one can ace the business domain by implementing a personal, conversational AI to serve customers.
Conversational AI in marketing and sales brings huge advantages.
Interact with multiple customers at scale
Automation combined with Artificial Intelligence, allows you to interact with multiple customers at once. Conversational AI reduces the communication time invested, decreases manual efforts and also provides precise solutions without any delay. Such software can be designed specifically for a set of consumers that you want to cater to. From demographics, gender, interests to previous shopping history, queries, etc., conversational AI can help you engage multiple people at the same time.
Reach out to your Target Audience Personally
Rather than sending out cold emails without any personal touch, you can not only render a personal-customised touch but also provide more value for the customers. With conversational AI, you can reach out to your specific audience and add that personalised messages based on their online history, previous shopping decisions, searches, and likes.
It is better to address someone by their first name, rather than a random ‘Dear customer’
Time and Cost Benefit
Installing conversational AI software is usually a one-time process which comes with a basic installation charge. There are various tools and programs which you can use to design your software based on your business pre-requisites. It is advisable for businesses to launch a pilot program first to analyse the software and understand its effectiveness. As a business client, one can create customer mapping and determine the most efficient solution for generating more leads.
Also Read: How Intent Analysis Can Help Programmatic Advertising
Conversational AI is for Everyone
Conversational AI can be the turning point or breakthrough technology for your business. It entirely depends on how you chalk out your goals, the scope of its work and the software you use.
Conversational AI is a game changer for online businesses.
There’s no doubt about how it can effectively prompt a customer and help them in deciding the best product based on their needs. With tons of pros on its side, conversational AI does have some drawbacks like memory storage and complex software. These can be easily managed by professionals, which is why conversational AI is gaining attention these days.