How to Leverage AI to Grow your Business

The overflow of data has caused artificial intelligence to become a secret tool for many companies. Nowadays, we are able to collect so much data about who visits our site, who answers our emails, who sees our social media posts, who buys our products, and to gather a lot of relevant information.

But going through this data can be too much for a regular human being, so it’s no surprise that 71% of marketers said that they feel overwhelmed by the volume of available data. That’s where AI comes in.

AI can process tons of data in just a few seconds, and create elaborate reports you can use to improve your business. Let’s take a look at a few ways AI can help your company achieve the desired goals.

Explore the Market

AI can analyse the market and provide you with a valuable insight into market trends: which type of products are best sold at which location, to what target audience, and so on. AI can successfully browse the web and gather the information about your competitors that you can later use to decide on the price of your products.

Lead Generation

Artificial intelligence is taking over the world of lead generation as well. Certain AI tools analyse the connections between people, companies, products and many other parameters to determine which individuals are potential clients. The LinkedIn sales navigator, for example, is also an AI-based tool that can help you find perfect leads on LinkedIn.

Closing Sales

Many companies are harvesting the power of AI to improve their sales. AI can make transcripts and analyse a ton of sales reps calls to identify the approach that closes the most deals. They can tell you how long your calls should last, compare time spent speaking vs. time spent listening, analyse the use of jargon or other word choices, etc. The results can be used to create an approach that the entire sales team can use to improve their performance.

Create Better Ads

Just like with sales calls, AI can test human reactions to various ads and select ads or parts of different ads that have the best chances of producing the right response from the audience. AI can test the length of the commercial, the music, the language used and so on. Depending on this analysis AI can tell you how to construct the perfect commercial for your brand.

There have been many experiments with AI use in ad creation. This was most notable in 2015, when AI was used to create a teaser for a sci-fi drama, Morgan. Based on the analysis of 100 horror films from the past, AI selected the most exciting scenes that were later merged together to create a trailer. A similar method is used in brand advertising as well.

Customer Service

It’s fair to say that the invention of chatbots (artificial intelligence programs that communicate with customers online) has revolutionised customer service. Chatbots are a great way to raise engagement, and ease the interaction with your customers. Research has shown that 80% of people who contact customer support ask typical questions that can be easily answered with AI-generated responses only!

When the website visitor asks a question, AI will analyse the used words and provide an appropriate answer. Even if your chatbot gets a question it cannot answer and a customer support agent is forced to take over, the previous conversation with the chatbot will provide the necessary information to answer the question quickly and easily. This will improve the overall productivity of your employees who can now spend more time focusing on the major issues.

Weekly Newsletter

Many companies send weekly newsletters to their clients to stay top of mind throughout the year. To make sure your subscriber base eagerly awaits every single one of your emails, you should make sure to come up with interesting and attention-grabbing content every week.

With so much different content out there this can be a difficult task, but AI is there to make everything easier. AI can analyse the data from thousands and thousands of emails, and show you what type of content your subscribers like to read. This will help you create the right kind of content for your blog and include it in your newsletter to the delight of your readers.

Using AI to grow your business is both affordable and efficient. AI machines can analyse a bulk of data in a way that’s impossible to do manually. The speed at which AI can analyse trends and produce reports is unmatched by the human mind. According to Forbes, using the power of artificial intelligence can save your business $4 million every year. So if you haven’t used AI till now, consider integrating the AI system into your business as soon as possible.