Last week we addressed how AI can positively affect search engine optimization to help achieve desired results. Often, the goal of using AI and SEO, from a business standpoint, is to increase sales. In this week’s blog, we will be looking at how AI affects both online and in-person sales.
AI in sales is “the use of advanced algorithms and analytical tools to automate and improve sales operations.” More than just improving sales, AI also has a positive impact on saving time and reducing costs. According to Forbes, “Companies using AI in sales have reported up to a 50% increase in leads, reduced call time by as much as 70%, and reduced costs by up to 60%.” For companies, this means more time spent on prioritized tasks and not focused on menial items. It also means getting the best results out of labor costs. Harvard Business Review states how AI can aid salespeople; “Gathering customer or product information to determine customer needs, processing sales or other transactions, taking product orders from customers, and preparing sales or other contracts collectively account for approximately three-quarters of a parts salesperson’s time — and all can be automated.”
Since AI is computer-generated software, how does AI affect in-person sales? Using AI, prospective customers can rely on the feature to guide them to you. By texting, using voice commands, or searching, AI can help filter results to put your company on their feed. This drives more in-person sales. And, as stated above, AI can be leveraged to complete tasks once done by salespeople. This will free up the time of those in-store so they can be present and attentive to the needs of customers.
So what’s the downside? As the saying goes, “You have to spend money to make money”, and that applies to AI as well. There isn’t a set answer to how much AI costs, because it differs with every need. But there are some things you can keep in mind that might cost you when considering AI. Akkio provides a breakdown of each factor:
- Hardware costs: “To run AI algorithms efficiently, specialized hardware is needed that can handle the high volume of data and computations involved. This hardware is generally more expensive than standard computer hardware, and so the cost of setting up and running an AI system can be significant.”
- Software costs: “The software costs of AI can add up quickly, especially as data sets grow larger and more complex.”
- Training and maintenance costs: “Training AI models requires computational resources, which come at a cost.”
But, as Forbes stated above, companies using AI for sales have seen increases of up to 50%. Though it takes time, money, and expertise, AI is a beneficial tool to take you from where you are and where you want to go. Contact us to learn more about how you can benefit from AI and professional support.