Artificial Intelligence is not a technology that only big businesses can benefit from. Small businesses can earn profits by employing the use of AI as well.
Recently, a friend shared how she convinced her boss to make use of AI. Her argument was that since they were spending money on paying Spectrum internet prices and the like to facilitate the company’s operations, employing AI wouldn’t be a problem.
She then presented to her boss the following benefits of AI:
Improve Sales and Marketing
With the integration of AI in CRM systems, businesses can aim at improving their sales and marketing. These customer relationship management systems are responsible for collecting customer data across various channels. These include emails, social networks, and phone. This not only helps businesses to improve their sales process but also aids them in automating the whole funnel to a great extent.
AI is integral when it comes to automating the systems more. Because small businesses can rely on AI-powered CRM systems to adjust the lead generation as well as the marketing activities accordingly, this means that businesses can maximize their lead generation results. Apart from that, AI can also aid businesses to get access to useful insights, including that of marketing and sales. Hence, optimizing the customer acquisition process.
Automation of Customer Communications
How many of you are familiar with the concept of chatbots? Well, the automated chatbots that pop-up when you log into a website or any brand’s Facebook page is the result of AI. Artificial Intelligence enables businesses to automate communication with potential and existing customers as well. Not only these chatbots initiate conversations, but they also answer any of the questions that the customers may ask. Thus, eliminating the need for businesses to hire personnel for this purpose.
The best part is that the chatbots do not go to sleep. Imagine being able to contact a business’s helpline at any given the time of day. Heaven, isn’t it. Well, if you wish to automate the process of communicating with the customers, then you will have to integrate AI.
Streamline HR Tasks
One of the most recent areas that AI has crept into is HR. Not only are companies relying on AI to automate the hiring and onboarding process, but they are also using AI to gather feedback from new employees regarding the company. The employees provide feedback on how HR can improve and streamline their hiring and onboarding processes better.
Individuals working in the HR departments of various companies are also finding AI helpful when it comes to shortlisting candidates. AI can help take out the resumes of the applicants who match the criteria or are close to it. These save individuals both time and resources. Apart from that, the quality of applicants that you interview also increases. Because let’s face it, if you had to do it manually, you would never go through the hundreds of applications.
Acquire Competitive Intelligence
Businesses are aware of the need to be able to analyze every bit of digital information that the competitors produce. Because there is so much that the competitors are providing on various channels, including social media posts, written and video content, it is impossible to monitor them manually. AI helps businesses to solve this issue. Several AI tools allow companies to keep an eye on everything that the competitors are doing. You can gather the data with the help of the tools and convert them into useful reports.
These tools help you to get faster access to the competitors’ information. And that too, with a minimum amount of errors.
Businesses can now become more efficient at delivering goods to consumers without any human intervention. This feature is essential for e-commerce businesses as they depend heavily on logistics for their success. If an e-commerce business cannot have flawless logistics, it would fail sooner or later.
Talking about logistics, warehouse management is a significant concern that e-commerce businesses face. However, AI has made it easy for businesses to deal with this issue as well. Artificial Intelligence makes it predictable for businesses to have a look at the points where congestion is most likely to occur. The company gets informed well within time due to this feature. Hence, allowing the company to decide an alternate route for the stock. Thus, making the whole process smooth.
If you wish to find out about the performance of various promotions on packages, or any other by your competitor during a sale period, AI could be useful. It is your key to getting easy access to the competitors’ insights while also reducing the need for personnel to do so.
So, if you are an entrepreneur or work for a small business, you should also consider the use of AI. It will make the lives of the employees easy. And will bring in more profits for the company.