The artificial intelligence assistant from Conversica helps sales representatives initiate leads, follow up with potential customers and focus on closing deals.
Determining whether a lead is interested in becoming a customer is a delicate game of answering the right questions, responding with timely emails and providing pertinent information. But these tasks add cumbersome work for sales personnel — and even if done correctly, they can lead to no sale. Companies like Conversica Inc. are starting to develop AI software to help automate the sales task.
Despite the time and effort needed to nurture leads into customers, salespeople have been hesitant to allow third-party software to interact with leads. As time becomes more valuable, however, more industry verticals are adopting artificial intelligence (AI) software.
While not a new concept in technology, AI has evolved to a point where some companies have developed humanlike email interactions using cloud AI software.
This software as a service can take bulky, repetitive processes, such as incoming internet leads or product questions, and provide accurate, concise and timely information for the consumer. This can enable sales personnel to focus on closing deals.
Sales has more time to close deals
“Because we use the AI to manage the front end of the sales funnel, our customers’ salespeople spend more of their time closing deals and less time prospecting and following up with leads,” said Alex Terry, CEO at Conversica, an AI sales assistant company founded in 2007, based in Foster City, Calif.
Conversica has more than 750 customers in more than a dozen industry verticals, including automotive, higher education, technology, real estate, finance and insurance.
“We have a lot of data to train the system and helps the AI get smarter every month,” Terry said.
While AI assistants are gaining traction in some sales industries, widespread use won’t be adopted until there is more of a proven track record of implementation for sales executives to point to.
“The use cases are there, and people are starting to use it,” said Evan Woollacott, a digital analyst at Technology Business Research Inc., in Hampton, N.H. “But it’s not just about adding an AI-enabled application to the sales process. It’s more around the internal process of the company and how they use it. We’re still very early in the game for AI.”
Solving the email conundrum
Selling luxury cars in the greater Dallas area is a strategy that requires quick and accurate communication to leads, according to Joseph Davis, internet director at Mercedes-Benz in Plano, Texas.
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