#TrendingIn2019 Customer Relationship Management Edition

Customer Relationship Management has stepped up it's game to whole new heights this year and that's only poised to scale in 2019. Emerging AI sales technology, however, can provide a shortcut to success by delivering more leads and making more reliable predictions than sales reps can on their own. With technology come small players with big impact.

ChatBot are getting better

Huge steps continue to be made in the way of natural language processing and sentiment analytics. Think about all the services that could be provided without humans-fast food lines, loan processors, job recruiters. It's expected that 40% of large businesses have or will adopt it by the end of 2019. It's really time to talk to us about Nimoy, CriticalRiver's inhouse chatbot.

Sales Force Automation with AI

With all the involvement with AI and pretty much all things technology, Sales Force Automation (SFA) (not the company) handles the basics of sales execution programs, like managing accounts, deals, forecasts, sales activity recording and lead management. Then, there are components that integrate with those, such as configure, price, quote tools, master data management, marketing automation and partner relationship management tools. AI in process automation can reduce manual data entry, create predictive insights for data-driven decisions, provide reliable lead scoring and facilitate deal forecasting. It can also prescribe next best actions, help with revenue planning and resource optimization.

Artificial Intelligence in Sales

AI has the potential to lead sales organizations toward certainty in their decision-making to reduce risks. It's expected that by 2020, 30% of all B2B companies will use AI to augment at least one of their primary sales processes. They say sky is the limit, but the following functions seem like a good place to start as well:

  • Pipeline inspection tools that are better at identifying changes in revenue on individual deals to help managers track how pipelines change in specific stages and to help forecast pipeline revenue.
  • Predictive forecasting tools that build baselines of how deals are trending and provide recommendations based on the health of that deal.
  • Predictive next-best action tools that surface dynamic recommendations to sellers based on the context of the deals.
  • Virtual assistants or sales bots that enable salespeople to speak the details of a meeting for transcription into data that can be acted upon.
Lead Management Upgrades

In lead management, companies seek technologies that support simple workflows, lead qualification, customer engagement and customer journey mapping. They also have to ensure existing customers are nurtured long after the sale. Idea is to make sure customers aren't being ignored after they have placed their order. Latest promotions, new products and changes to product availability are poised to be highly relevant.

Lead management upgrades we are expecting are:

  • Real-time analytics
  • Multichannel availability
  • Predictive lead scoring
  • Sales acceleration tools

It's almost 2019 and the prospects for Sales are looking good. See what we did there? Here's to a wonderful year in technology enabled sales!.

Research Source: Forbes & TechTarget.