What’s your product’s route to market? We’re guessing that for many sales managers, your route to market is something that you’ve taken as a given for a while. But, it’s becoming clearer and clearer that the times they are a-changing.... Whether your traditional route has been direct sales, wholesale, online sales, or some combination thereof, there’s one thing you can guarantee: AI is changing how we fill our sales funnel and get our products out there. Here’s how AI is opening new routes to market.
AI algorithms are now powering huge amounts of calculations and sales decisions because they can find patterns in data, hitherto unseen. While once you may have taken it for granted that the best way to sell your product was through direct sales or websales, today an AI powered analysis can tell you that in fact, your customers are all ready and waiting over on instagram, just waiting for a “buy now” call to action.
The data about who your leads are and where they are, is out there, waiting to be discovered.
Rather than reps prospecting based on hunches or hopes, AI can scour the internet and databases to tell your team which companies need your product or solution right now and are actively searching. They can look at how much content is being shared around a topic and determine the number of companies searching for what you’ve got to sell and how qualified they are.
This AI powered route to market, shortens the sales cycle dramatically since your sales team isn’t spending hours prospecting or fruitlessly chasing leads that won’t convert.
Forecasting Based on Customer Personas
AI is also aligning inbound marketing and outbound sales through deep analysis into how well customers respond to targeted messaging and offers, giving your sales and marketing team a complete understanding of the customer journey. It can easily scan your CRM to build out customer personas that include risk prediction and sales potentials.
This kind of analysis has huge potential in opening new routes to market. It could seriously challenge and change a multitude of sales decisions.
Looking at your data, machine learning can give you recommendations on customer life-time value, intervention points for sales and support and risks relative to sales thresholds. Not only can you use this information to guide how and where you pitch your product, if will give you important information for pricing strategies that can reduce price objections and roadblocks down the line.
Focusing On Who Will Buy Next
All this machine learning empowers your reps to go out there and successfully close deals. Bolstered by accurate data -- and even AI-powered recommendations on who will buy your products based on customer personas -- your sales pros can focus on a meaningful and valuable work. They can provide great customer service, customized pitches and appealing pricing plans that will earn them repeat business and valuable referrals.
How will AI change your sales strategy? The time is now to find out.