The Future is here
The future is here, the future is now and Artificial intelligence is a big part of it and it is here to stay!
Artificial intelligence is not fiction nor is it only in movies where it’s shown as a robot or voice-activated virtual assistant. Actually, we are using Artificial Intelligence in our daily life such as personalized music recommendations on streaming platforms. Such as Spotify, which uses one form of AI and that is machine learning, to determine what songs you might like based on your listening history.
Then, there are voice assistants, such as Alexa or Google Assistant, which uses AI to understand what you're saying or asking. And conversationally return the best response.
And, we must not forget the relied-upon search engine, which, like its voice assistant counterparts, also uses AI to understand exactly what you're looking for.
Moreover, from a business perspective, machine learning and Artificial Intelligence can help you target new audiences, based on their online behaviors and intent. This is the technology advancement to look out for in 2020 as a cross-selling and marketing tool. As the information about prospects and customers is most relevant for you to serve them with personalized experiences and solutions. At the right time and in the most friendly and human way possible.
Control your Finances
Artificial intelligence doesn't only affect how you market to your customers or how you serve them. But it can also make your finances smart and easy to have control over.
If you are a startup, small business owner or even a marketer in a financial institution you definitely must have heard of online banking, crowd-funding, Chatbots and CRM.
Well, you can benefit from these features and applications in marketing your business and growing it as well!
How? You ask! Well, you will be able to sell to a larger scale of clients if you adopt smart payments through mobile. As there are 2.7 billion smartphone users around the world.
Having a Chabot on your website with automated responses installed so you'd be available around the clock to answer your customer questions.
Or, if you are a small business owner or startup and want to grow your business, crowdfunding, and microfinance platforms.
This can help you finance your idea with an easier process than traditional banks.
At the same time, CRM (customer relationship management) is also a great way for you to manage your relationship with your customers.
And cross-sell more convenient financial products to them thus, growing your business.
As the system will give you insights into what they may need in the future like a small loan or a credit card, based on the customer data you put in it or it collects. Smart Ha?
Security is not an issue anymore
Imagine this, you are a business owner and you are dealing with a new supplier to grow and create a new product line for your business. You want to market in the upcoming New Year’s event, both of you have not dealt with each other before.
The trust is yet to be built. Yes, it is risky! but this supplier is offering a competitive price for the materials you need!
Well, Block-chain is an electronic journal ledger and so much more than that.
Where it can help you secure your transactions with suppliers by recording them in multiple copies for all parties involved.
In a way that it can't be tampered with.
That means if you pay for your materials and you don't receive them, there is solid proof that you paid and received nothing in return.
Your supplier didn't honor their side of the deal or the electronic contract that was also provided by BlockChain.
You can learn and teach your employees how to use it where it can be your partner in a growing business success story.
Better content for a content customer
Inbound Marketing is your business’s growth partner. Inbound works by using helpful and relevant content to attract relevant customers, through connections, building relations and personalization, to deliver the right message to the right person at the right time, using the right data, the right intelligence and the right tools leading to a content customer.
Artificial intelligent (AI) aids the process of inbound by using AI to understand themes that search engines associate content with. Through suggesting topics and detailed metrics as competitiveness and relevance that help SEO strategies. Which leads to your website ranking on the first page on search engines and being easily found.
AI evolves inbound marketing by enabling inbound marketers to collect a massive amount of data that is mined and analyzed. To help in making predictions and making decisions to be focused on future your marketing campaigns.
Chatbots, as discussed, is one of the Artificial intelligence (AI) tools. They are used in inbound marketing to enhance the customer experience by automating messages. Which offers a fast and logical solution at any time covering customers’ pain points which leads to customer satisfaction.
Coupling CRM and AI
Customer relationship management (CRM) is mainly about offering customers customized and valuable products and services according to their needs. Customer needs should be well understood in order to tailor products and services features and specs to them. Thus CRM depends heavily on using data collected in order to achieve its goals easily. Analyzing, interpreting and grouping an enormous volume of data is what gives value to the collected information that is why the integration of CRM and Artificial intelligence became a must.
In today’s digital era, data is collected from social networks and digital interfaces can be fed to the CRM so that AI can interpret this data and benefit from it to provide valuable outcomes used in making decisions in line with the company’s strategy.
Companies using CRM - AI integrated platforms succeed in achieving their goals in the following business areas
- Research and development
- Customer loyalty and advocacy
- Customer satisfaction
Using CRM saves money and time, and offers valuable products thanks to Artificial Intelligence. The easiest way to automate processes and achieve satisfactory results is through an effective software solution such as HubSpot.
Artificial intelligence has a positive impact on startups. The most common challenge for startups is that they suffer from limited resources and funds and AI aids them by automating, improving and simplifying work processes.
AI is able to learn, reason and self correct imitating humans’ performance. So it can replace some humans tasks and perform it in a more efficient manner, saving money and effort. For example, instead of hiring a full customer service team, AI enables you to use automated messaging through chatbots programmed to answer customers around the clock in a timely and efficient manner with programmed replies according to questions asked. This automation can be used with social media and website chats handling your customers’ questions and requests ensuring better customer service.
AI is also used in scheduling, entrepreneurs are always heading from meeting to meeting, working all day, forgetting an important meeting may cost a startup founders their integrity with important clients, losing a sale or missing an interview. AI can help entrepreneurs to maintain a consistent daily plan. Also, AI can be used in categorizing information about businesses, analyze competitors, managing budgets and more.
Many AI programs that support finance are used now instead of hiring an accounting department, especially for startups in their early days they do not need sophisticated finance processes that run by several humans, only financial inputs can be entered by business owners saving money and space.