Preparing offers
Instead of manually creating offers, generative AI can help automate the process. By inputting the client's requirements, the AI system will be able to generate an offer that takes into account the company's pricing strategies and discounts – saving time and allowing salespeople to focus on other prospects.
Summarizing background information
To sell effectively, salespeople need to be thoroughly knowledgeable about their customer company history, achievements, and product lineup. Generative AI is a handy tool for this – it can swiftly summarize vast amounts of company and product information into bite-sized, easy-to-understand points, ensuring that salespeople are always prepared with the most relevant data for their sales pitches.
Ensuring efficient communication with prospective clients
For many salespeople, the days are consumed by crafting emails, drafting proposals, and juggling multiple dialogues with different firms. Generative AI will be able to assist them by autonomously composing emails and creating offers, taking into account previous conversations with clients. This helps maintain context and continuity, creating a personalized experience for every client. Instead, salespeople can focus on fostering relationships and strategies.
Streamlining remote meetings
In a remote-first world, generative AI will also become our meeting assistants. Generative AI can use speech recognition to take notes during virtual meetings, capturing action items, decisions made, and critical discussion points. Once the meeting concludes, the AI could potentially feed these notes into the company’s CRM system, eliminating manual data entry and ensuring that no vital detail slips through the cracks.
Building a knowledge bank
Generative AI will also help salespeople to create a comprehensive knowledge bank of all past customer projects. This helps identify and leverage successful case studies from the past for current prospective clients. In essence, it provides sales with historical context and insight, paving the way for more successful sales pitches.
Refining sales strategies
A salesperson’s role isn’t just about selling – it’s also about understanding the sales process. Thanks to generative AI, they’ll be able to scrutinize every stage of the sales funnel. By feeding the AI with data from the CRM and Power BI, such as the number of discussions initiated, follow-ups agreed upon, offers sent, negotiations continued, and deals closed, salespeople can pinpoint where the sales process falters. The AI can analyze successful sales processes, identifying commonalities and anomalies in successful and unsuccessful deals. This insight empowers salespeople to optimize their approach and continuously refine their sales strategy.
Creating marketing content
As part of their work, salespeople often contribute to the company blog and webinars to share the latest industry trends and products. Generative AI, trained on a large dataset of technical articles and blogs, will be able to assist them in drafting engaging content. It also helps in structuring webinars, suggesting relevant topics, and creating outlines. This can improve the quality of content and reduce the time spent on research and drafting.
Summarizing technical data about offered products
One challenging aspect of a salesperson’s job is mastering the intricate technical specifications of the often diverse products their company offers. Generative AI will be invaluable here. Whenever salespeople have to explain a complex product to a customer, they can input the product code into the AI system, and it will generate a concise, understandable summary of the product's technical data. This enables salespeople to explain the products effectively to customers, enhancing their buying experience.
Staying ahead of industry trends
In the rapidly evolving tech landscape, staying ahead of trends is crucial. Generative AI will be able to provide sales with concise briefings on current happenings in the industry and predictions for the next three years. By knowing future trends, salespeople can strategize their sales approach for maximum impact and success.
One thing to keep in mind with these future scenarios is that existing AI tools are still a work in progress. Current generative AI tools are not entirely accurate, implying that users might occasionally encounter erroneous results. Additionally, these systems currently grapple with memory limitations when dealing with enormous amounts of data. Nonetheless, as we showed in the applications above, the transformative potential of generative AI for sales processes is clear.
