How AI helps in Business Development?

Over the past few years AI is a concept which is most spoken about. Its applications and usefulness are explored in every field of work. Be it assembly lines in factories or business applications in any company AI has proved its worth.

What is AI?

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AI or Artificial Intelligence is a field of study in computer science which deals with simulation of human intelligence. It is sometimes called machine intelligence as it is demonstrated by machines. Leading AI textbooks define the field as the study of “intelligent agents”: any device that perceives its environment and takes actions that maximize its chance of successfully achieving its goals. AI defines the machines that mimic the “cognitive” functions of the human brain and use these abilities to solve real life problems.

AI works on three fundamental principles or objectives — “Learn”, “Reason”, “Correction”.

Any AI machine need to acquire data in large amounts which it can use to set up rules and to predict what job the machine should do. It seems that the machine learns from the given data its trend and value and apply this learned knowledge in its further processing.

An AI based computer works on the processed data knowledge and reasons or selects the best algorithm to be used for the process.

Any AI system has a feedback mechanism to tell it whether its prediction was right or not. Just like humans retrain the Machine Learning model if there is any correction needed, AI has this job automated. Once it finds some corrections need to be done in the algorithm AI does it on its own. Self-Correction is the key.

Need of AI in Business Development

All the fuss started in early 90s and now artificial intelligence has got into almost every field of work in the world. Over the years every single need of humans has become increasingly dependent on Artificial Intelligence. Artificial Intelligence is also gaining momentum in the field of business development. According to a recent survey, by the end if 2020 most of consumer-retailer interaction will be free from human interference.

Artificial Intelligence is basically focused on business expansion. Not only for the top players but artificial intelligence is proving fruitful for the young professionals who wish to obtain highly competitive gains and let their companies have sustainable growth.

Now let’s explore the benefits of AI in business development:

Tailored Customer Experience

The whole idea of the success of a business is based on the consumers and how they feel about the company or the brand. The more the customer will feel connected and valued the more often he will come back to invest in your company. Many companies take care of efficient customer support by using “AI chatbots”. These provide the best solution to the customer visiting the company’s website and it also results in an increased screen time. Well-Developed chatbots offer a customer experience in which customers can’t tell if they are communicating with a human being or a computer. Chatbots usually answer customer questions based on keywords. Chatbots collect information from the customer as to what they want to do on the site or what is their query and produce recommendations or actions which is relevant to the customer. Chatbots are online 24/7 and don’t make customers wait.

Tailored Advertisements

Digital platforms are a critical part of any marketing program, and reaching the audience with tailored ads is of utmost importance for many companies. Almost everyone in today’s world is hooked to his or her computer or smart phones browsing the internet which gives a great opportunity to the companies to promote their products online.

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Digital products capture an increasing amount of data from each user interaction which allows providing more advanced insights.” Targeted programmatic advertising”, which is tied to predictive analytics, uses AI to determine how users will interact with the advertisements. It helps the company to figure out when and where should they put the ad so that the ads can turn into leads.

AI-based Analytics

Analytics in any business is a very important component. Using Analytics on the data the company can device new strategies on how to proceed to make profits and reach a broader customer spectrum. To analyse consumer database is a tiring task if done manually since the database is too large for humans to process it. This is where AI comes into play. AI can easily convert huge chunks of data into meaningful information. It can make trend lines and generate other insights to make predictions based on the data. This meaningful insight can be used to develop new strategies. AI can also assist in devising a business strategy based on the current situation so that the company performs much better in the future.

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Inventory Management and Supply Chain Automation

Using machine learning and AI can help retailers to keep track of their products and maintain their supply chain in a more efficient way to prevent any product loss. AI can help supply chain by automating the process of requesting for products that are low in stock. Nowadays many inventory and supply chain management AI tools and models are readily available in the market so that companies can directly use them by just some small configuration changes.

Robotic Arms in Factories and Assembly Lines ( Photo by Franck V. on Unsplash)

AI-based Hiring Systems (Mapping Employees)

Finding the right candidate for the company’s business expansion module can be a tiring job. AI gives a solution based on automated screening of candidates using facial recognition and AI-based interviews. AI analyses the audio and video clip from the candidate’s interview and then generates a report in stating whether the candidate is fit to do the job or not. Moreover, the AI model also shortlists the candidates based on their resumes so that only the candidates who have the required skills can take the interviews.

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Over the past few years, a lot has changed in terms of business development and sales industry by using Machine Learning and AI. Artificial Intelligence increases productivity handles customer relations efficiently and involves fewer errors. The use of automated data management and automated analysis of data for generating insights have enabled huge possibilities for companies to triumph in the future. Artificial Intelligence paves the way for a better future of every company whether it is the automobile industry, logistics or IT company. The efficiency increases when smart machines are used for processing large data and to develop business plans.

Even though the companies can use AI to gain increased productivity by streamlining the analytics and service delivery and to handle customer support efficiently, one thing the companies can’t replace using AI is personal relationships with the customer. AI can be used to augment the sales staff so that they can make more informed decisions and use the feedback of the customers to nurture a healthy relationship between the customer and the company. The combination of AI and manpower, when used in right proportion, can create a very powerful tool to illustrate how technology and human insights can work together to achieve results.

So, is it really the time to implement AI completely in the business development field? I say Why not ? If not now then When ?

Pro-tip: Repetitive questions can eat up your agent’s valuable time. Let Zuzu AI assistant help your agents answer customer FAQs and close leads faster.

How to build a Sales Playbook for your team

What is a Sales Playbook?

A sales playbook is just like a manual on how your team should carry out the sales to get success. It is a document that outlines your company’s sales procedure, the interactions of top salespeople with the clients, some scripted answers for frequently asked questions of the clients, demos and additional guidelines as per the company’s requirements.

Thus, you can think of a sales playbook as a cookbook that has the perfect recipe for closing a deal with the client.

Sales is never a piece of cake especially if people in your team are new in the field. The essence of a successful sale is truly based on how good the sales executive is prepared to pitch in your product to the customer. Just like an exam you need to prepare them with a set of rules and resources on how to make a successful sale. If you want to improve the productivity of your sales team and have some standardized best practices for sales, you need a well-designed Sales Playbook.

What are the benefits of a sales playbook?

When you look at the concept of sales playbook you might think that creating a perfect playbook is a tiring time taking task so you might want to stick to old methods of business. But once you start using it you will see improvement in sales almost instantly.

First, whenever a salesperson joins your firm you need to explain to him or her how to get leads, how to pitch in product to the client and how to close the deal successfully. But imagine doing this for all the new joiners who join every day to your firm as a salesperson.

Sales Playbook gives a much faster and easier method to train new salespeople. A sales playbook will give them a clear explanation of what kind of clients they have to deal with, what are the usual questions that clients ask and their answers and more.

Without a sales playbook, the sales reps are forced to gather ideas from seniors usually by shadowing them to sales sessions. They might be following the reps who might be making mistakes.

Second, a well-designed sales playbook helps sales rep with ready-made content like what are the good messages to give to a client, when to approach the client, how to interact with them, etc.

A playbook helps to spread good and effective sales techniques to all the people of the team. If a sales rep is having a high level of success using a certain approach towards the clients, that approach can be shared with the entire team by putting it in the playbook.

Photo by Sebastian Herrmann on Unsplash

How to build a sales playbook?

Now the big question, “How do I make a well-designed, informative and helpful sales playbook for my team?”

First and foremost, you need to decide who all will be on the team to develop the sales playbook. Make a list of people who you want to be on the team. Ideally, the marketing operations team, sales operation team, product design team, VP or Director and the top-performing sales representatives should be on the team.

Next, designate one person as the project manager to oversee the production on the sales playbook. That person will be in charge of compiling the content, setting deadlines and keeping the project on track.

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Before starting to write any new content first see what all you already have floating around. Check for any previous phone and email scripts that are working best for the reps and publish those in the playbook. Repurposing gives a sense of confidence to the reps as the content is tried and tested with positive results.

Now when it is time to introduce new content, have a brainstorming session with the product designers and marketing team for getting their expertise. They can put your advice in a way which might be easier for new sales reps to comprehend. Moreover, they can give some valuable inputs while designing the outline of the playbook.

Ask the top of the class salespeople to give their valuable inputs for the playbook. Include their successful sessions as a demo or example. Include the success scenarios to both teach the new ones and to motivate them.

Remember no two companies are the same, so no two playbooks should be created identical. Get into deep levels of the company’s marketing and products. Instead of having a big and ambiguous playbook, try to make it concise and focused. Divide the playbook into sections so that reps can focus on their weaknesses and work on it. It is also a lot easier to tackle the playbooks in sections rather than all at once.

Remember a sales playbook is not a static document. It should be refreshed periodically. It should include the latest trends in sales and successful encounters of the sales reps. To ensure that your sales playbook work successfully it needs to be dynamic, digital and flexible. It should be easily accessible online.

Essential components of a good sales playbook

Company Overview

This section includes an introduction to your company, a brief history, the company’s goals, and the company’s structure and hierarchy. Layout the structure of your sales team, and state where the reps fall in the hierarchy.

Company’s Products and Services

A salesperson’s success depends on how good he knows the product he is going to sell. Include the details of the products as much as possible. Ask the product developers to assist you in framing the playbook.

Buyer personas

This is where you will talk about your clients to let your reps know precisely who they are going to target.

Include potential job titles, eligibility criteria of clients based on their budgets and their ability to buy the product.

Sales Process

This section is the most important one in your sales playbook. It can be taken as a walkthrough to have a successful sale. It highlights the selling processes of your company. It includes messaging templates, how to find leads and categorizing them as qualified leads of disqualified leads.

Selling Methodology

This section has successful sale scenarios of top salespeople of the company. This section should provide examples to the reps on how they should proceed with the sale and close a deal successfully.

Photo by Startup Stock Photos from Pexels

Include CRM Tips

If uniform CRM usage is needed, the reps need to know the expectations. This section gives a standard account on what each stage in a sale means when to hit on opportunities when to contact clients when to move to the next stage etc.

Compensation and Commission

Compensation and commission scheme is vastly different from company to company. It is always better that your reps understand how your payment and commission structure works. The clearer they are on the commission plan the more motivated they will be to execute a successful sale.

So, what to do after publishing a sales playbook for your team?

With time the sales process also changes and it is bound to improve. Your product line will also expand and more importantly, your ideal customers will also change.

To keep up with all this you need to evolve your strategy and for that, your sales playbooks need to be updated accordingly. It is never a final product. It is always a work in progress. This is why a digital sales playbook is appreciated as it is easier to edit and publish quickly. Moreover, it is easier if your sales playbook is online and your whole team can access it.

Photo by Gerd Altmann on Pixabay

However, whenever you plan on making some major changes always give a heads up to your team. Announce the updates by any communication channel.

To build a strong, dynamic and flexible sales playbook follow the guidelines and you will see how your reps will appreciate it and bring good results for the company.

Knowledge Management in an intelligent way

Keep your customer-facing teams up-to-date, consistent, and confident with trusted knowledge that’s accessible in every application they use by using Zuzu AI-A knowledge Assistant for your workspace.

Improve customer experience by delivering information when and where your team needs it.

Close deals 65% faster by providing relevant knowledge in reps workflow.

Improved customer experience with consistent messaging by providing marketing assets directly in the apps they are working in.

Improved customer satisfaction by reducing the time of response.

Maintain and share knowledge with everyone in your workplace.

Allow us to help you build a good digital sales playbook and benefit from it. To learn more please visit our official site — https://zuzu.ai/ and explore the products.

Navigating Knowledge Boards from Gmail Add-on

Feature Overview

Besides the ability to search for Knowledge Cards now you can explore from within Gmail. This would be quite helpful when you are not aware of what to search and need to view Cards shared by the team. 

This will help your Sales, Support or Marketing team to explore Knowledge Cards with ease. 

Pre-requisites

The user can see knowledge cards or boards shared with him/her. So, you will have to make sure that Knowledge Boards are created and shared properly with the team from our web application and Gmail Add-on is installed and configured from Google Suite Marketplace. 

Get Started by Opening up and Email or Conversation

You will be asked to login-signup if you are not logged-in to the Zuzu AI Gmail Plugin. 

Note: If you are having trouble logging in even after getting a success screen, please try opening up add-on by navigating to another thread or opening Gmail again.

Once you are logged-in you would be able to view the following screen. Click on ‘Knowledge’ Tab to view Knowledge Boards available to you. 

This will also include personal knowledge boards created by you in addition to Boards shared by the team.  

 On Click of Details for a particular board (In our case it’s Case Studies), you will be redirected to Screen with List of Available Cards for the Board. 

Note: Please note that currently, card status is not checked in Gmail Add-on and Cards with all the statuses are shown to the user. We will soon provide an option to filter out cards with statuses such as trusted, In Review, etc.

Once you click on the REPLY the Card Content along with attachments will to a draft reply. You can further edit the content and send it to your customer.

[30-Jan-2019] Explore Knowledge with Ease from Gmail Add-on

Now you can view your Knowledge Boards and Cards from Gmail with ease. So, once the Knowledge boards are shared with the team, they can explore and view and use cards for a reply with ease. 

You can perform the following:

1. Explore email/marketing templates and create a reply with ease

2. Knowledge Card Attachments would be automatically added to your email while replying

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