AI-AI Captain! Can These AI Strategies Save Your Sinking Ship?
Trying to run a business in today’s world without AI is like attempting to navigate the ocean in an old wooden sloop: It‘s terrifying. As your vessel gets eaten away by the elements and slowly starts taking on water, other ships are disappearing into the horizon. Something’s got to change.
Here are five AI strategies that will help keep your business afloat.
1. Utilize CRM
Customer Relationship Management (CRM) software is by far one of the most important AI tools for businesses in 2020. The main purpose of any CRM is to enhance overall customer experience, sales opportunities, and predictability through interactions. Companies like Amazon heavily rely on CRM for insights on buyer behavior and habits. Once a customer views a product, Amazon will list similar products that they might enjoy and will even remind the customer to view their cart before closing the window.
It’s important to note that CRM is specific to individual users, taking into account their likes, dislikes and average time spent on each page. Using this data, CRM software can help make the experience more enjoyable for the user instead of recommending arbitrary products and services. Some of the best CRM software for businesses include Salesforce and Hubspot.
2. Integrate Email Marketing
Email marketing is vital for delivering brief, informative content about products and promotions to customers in a way that feels intimate. Email Marketing is also one of the easiest ways to boost sales and reduce costs. AI-assisted software such as Sendinblue, Constant Contact and GetResponse can help you create top-tier email layouts that are both attractive and fun to make. After creating your campaign, you can segment emails based on the audience you’re wanting to reach and deploy them at the perfect date and time.
Users can track the progress of their campaign after deployment and monitor the unsubscribe, CTR, and open rates. Typically, the average open rate for marketing emails is approximately 17%, so don’t get offended if a majority of people are ignoring your content. Instead, try and create more enticing subject lines to get those few extra clicks.
3. Provide 24/7 Customer Assistance
AI truly shines when it comes to taking over services that normally have a small window of opportunity. Before AI-assisted software, it was often infuriating being told that customer service is unavailable. Now, AI not only responds to customer inquiries during all hours of the day, but actually contributes towards an overall positive customer experience.
The result of AI customer assistance has been overwhelming, increasing user experience by over 67% and response time by 90%. As proof of concept, major companies such as Lyft, Uber, and Spotify utilize AI-assisted responses thousands of times daily. HubSpot has been praised for exhibiting exceptional automated and human customer assistance.
4. Perform Competitive Analysis
Any business worth it’s salt knows the importance of keeping tabs on the competition. Luckily, business owners don’t have to get their hands dirty to do this as most information available to the public domain. However, an issue arises when attempting to collect, sort, and analyze this data. It’s just too much. Luckily AI platforms like SEMRush, AhRefs, and Sprout Social exist to help you find the information you’re looking for quickly without looking like a stalker. These services can often seem pricey (starting at $99 USD/Mo), but are justified when you discover advantages and opportunities you never knew you had.
5. Automate Repetitive Tasks
Taking AI outside the realm of the digital world and integrating it into something physical like a computer or camera can help resolve tasks that once required an entire crew. Consider processes like manufacturing, traffic control, and law enforcement. Visual AI can help businesses perform multiple tasks simultaneously and with more efficiency than their human counterparts. If your business involves managing visual tasks like quality assurance or inspection, companies like Qbic Technology can provide necessary AI solutions to help you streamline previously difficult tasks.
The use cases for AI in this article are just a drop in a vast ocean, but it’s important to realize that this ocean is getting bigger and bigger every day. Companies who don’t make changes and set sail immediately will forever be marooned in the past.