Artificial Intelligence (AI) is bringing a lot of changes to how salespeople work. Through analyzing customer behavior, even in a business to business sales model, AI is changing how companies are maintaining contact with customers.
While much insight is gained from reports and dashboards, especially to monitor activity, most companies lack the ability to apply AI analytics to improve their sales processes using CRM data
One distributor we support relies on a telephone-based sales staff to ensure their small retail client’s’ repeat business. As the distributor expanded their offerings from a few key departments in their customers retail environment to other items in different aisles of the store, they desperately desired a high phone contact rate to promote their expanding product lines. From their experience the store managers and small chain buyers mostly ignored their email marketing campaigns pitching additional products.
Collaborative Metrix analyzed the call logs and the logs of emails sent by customers over time already stored in the CRM database. We developed an AI model which predicted when a contact was most likely to take a call. The reasoning was that if a customer showed a consistent time when they received calls in the past, made return calls or sent emails, that was likely a time in their week they spent doing tasks where they could receive calls.
For every long-term customer, Collaborative Metrix’s AI model predicted a day of the week and time of the day that was likely the best time to contact the client’s decision makers. The distributor saw their successful call contact rate increase by 12% over the first several months salespeople started using the recommended times.
CRM data is a valuable asset for companies. Gaining insight is not easy and needs someone skilled in sales processes and AI to be able to generate predictive models that provide sales increasing insight. Collaborative Metrix brings that experience and knowledge to our clients.