MarketingProfs reports that businesses that implement AI see 59% better close rates for sales, 58% increased revenue, 54% more traffic and engagement, and 52% higher conversion. It is tough to accept this truth but statistics show that AI can generate more quality leads than the traditional marketing methods. Weren’t we already expecting it? Just like the AI and robot movies! They did prepare us for the future. AI has already reached our pockets with Siri on our phones, Alexa in Amazon Echo on our tables and Google Nest products in our homes!
Oh, yes! AI does things faster, cheaper, more accurately and bring more bang for your buck than human employees.
But, remember, humans are better when it comes to personalizing campaigns and communications. There will always be a need for human marketer, salesperson or brand representative. So, lets discuss how you can augment lead generation via artificial intelligence (AI).
Artificial Intelligence in lead generation
You are right! We are going to focus on how you can use chatbots to boost lead generation for your products/services. I know what you are thinking! It is expensive, technical, time taking and probably not worth it. Yes, traditionally, chatbots required a lot of coding or huge budgets but thanks to a number of platforms today, you can create an AI-powered chatbot without help. Lets discuss how chatbots can help.
1. Chatbots can automate lead nurturing
80% of sales require at least five follow-ups after the initial contact and according to Two by Fore, about 50 percent of leads are never sent follow-ups.
Thats a lot of leads (and revenue!) lost. What if I tell you, chatbots can automate the process and make it soooper easy for you? Oh yeah, they can! With chatbots that offer virtual assistance, you can nurture leads on autopilot to a great extent. Chatbots collect (and remember) lots of data (which we will talk about in a while) and based on this information, you can create ideal campaigns. Not only that, chatbots can handle sending the follow-up emails based on consumer behavior all by themselves. For example, chatbots can gather data on the preferred time of sending an email to a prospect and *boom* they open it. Also, we know that much of lead nurturing is about sending the right offers at the right time (like, Amazon does!) and you can train chatbots to help you with that. Wondering about personalization which is missing in these communication? Look at this This mean, people are becoming more and more comfortable with communication by bots.
2. Gather data, help with predictive analysis and enhance user experience
Data = gold!
Without data, you cannot ace any of your marketing efforts (even if your strategies are brilliant!).
Chatbotscan be trained to track consumer behavior and monitor ALL data. For example, chatbots can interact with your consumer, help them with products and track the data which comes along the communication. Just like celebstyle does! You pick a celebrity and the bot helps you with the look. All this data is monitored, stored and analyzed by the bot. Next time you visit them, the bot already knows about your preferences and pick out similar products for you. AI-powered bots (or assistants, as they say) can also collect information from social media channels, browsing habits, or by directly asking consumers about their interests and merge everything together. And, this gets us to the next point.
Bots do not need surveys and feedbacks to analyze consumer preferences. They can put all the possible data together and understand consumer behavior (also, segment them if you like!). According to this, chatbots can gather data based on a users clicks, shares or scrolls in order to predict the circumstances where they would buy. By analyzing this type of data (including purchasing patterns, interests, and other relevant demographics), you can qualify prospects in a better way and show your sales team where each prospect is located within the buyer’s journey.
Enhance user experience:
By conversing with the customers and using any previous customer data, bots can help them find the right product/service. Look at this bot from SnapTravel. Chatbots can also be used to create the most detailed buyer persona and segment them for future campaigns. In short, chatbots are smart virtual assistant who have mind of Mike Ross and they apply it to the given situation to win the case at hand. I mean, close the deal or help your customers in every way.
3. Enhance customer Service
Just like the way chatbots enhance user experience, they can help with customer query and after sales services. In fact, Gartner predicts that by 2020, 85 percent of a customers relationship with a company will happen without interacting with a single human. Starbucks have already embrace virtual assistants with the launch of its app – My Starbucks Barista. Customers can place their orders via messaging or voice recognition. The assistant confirms the location of the branch for the pick up and helps process the payment. Could it get any convenient for their consumers?
Another advantage? None of your customers will ever be missed or ignored. So, faster conversions on automation. There is no doubt chatbots are changing the way marketers approach marketing. Implementing chatbots to your company can bring positive results by increasing conversions and closing rates, along with freeing up your sales and marketing team to focus on what they do best, strategize and close deals! You already using it for your business? Lets talk about it in the comments section
Are you ready to boost lead generation via AI and implement chatbots? Are you?
Vikas Bhatt is the Co-Founder of ONLY B2B, a premium B2B lead generation company that specializes in helping businesses achieve their growth objectives through targeted marketing & sales campaigns. With 10+ years of experience in the industry, Vikas has a deep understanding of the challenges faced by businesses today and has developed a unique approach to lead generation that has helped clients across a range of industries around the globe. As a thought leader in the B2B marketing community, ONLY B2B specializes in demand generation, content syndication, database services and more.