“CRM stands for Customer Relationship Management.

It’s a technology used to

manage interactions with customers and potential customers. A CRM system helps
organizations build customer relationships and streamline processes so they can
increase sales, improve customer service, and increase profitability,” according to
Salesforce.

Use of Artificial Intelligence in CRM domain

Artificial intelligence and machine learning features have been the talk of the tech

world right from consumer electronics to business applications . Be it automating

time-consuming tasks, enhancing human insight, discerning hidden trends in massive

troves of data, or offering guidance to inexperienced sales reps, we've compiled a list

in which companies can deploy an AI solution to reduce their efforts and improve

their profits. Artificial Intelligence is all around us. Perhaps the concept is still

new to few people, but it already has a huge impact in your daily routine.
When you contact Uber, Alexa, Amazon or the voice assistants on your
smartphone like Siri, Artificial Intelligence (AI) technology works to make
life easier for you. Who hasn’t searched on Netflix to find recommendations
to watch a movie? AI algorithms have definitely helped influence your
decision about what to watch next.

Businesses have been using AI to boost the decision-making process. Some

examples are online customer support, intelligent personal assistants, or
process automation.

The use of Customer Relationship Management (CRM) software is growing,

as well. The value of providing a better service for consumers helps guide a
business. It is estimated that coming years will bring an increase in spending
on CRM as companies realize the importance of not just knowing, but
understanding their customers. And according to the current trends, CRM
systems have evolved and integrated AI technology to improve the customer
experience.
There is real value of real-time data for your business, and there are many
advantages of having a powerful CRM system connected to your ERP. This
can be accomplished through a data integration app which can be used as a
data integration platform for sales. Therefore, your business will receive a
treasure trove of valuable information.

But you might think: Where does the need of using my current CRM with AI
come from?

When Artificial Intelligence and CRM meet, the result is a match made in
heaven. And here’s why.

It is estimated that by 2024, additional revenues could be gained from

Artificial Intelligence adoption in CRM activities. There are many new
developments in CRM software, such as face and voice recognition. In
addition, as a company grows, collecting, storing and providing data can
become a huge task, and your clients won’t wait around for you to offer them
exactly what they’re looking for. Nowaday=, CRM needs the support of
Artificial Intelligence to achieve a more efficient data management.

But with digital transformation and improvements in technology, AI assists

businesses with finding new customers and keeping the loyal ones happy.
Integrating these two technologies delivers more predictive and personalized
customer information in all areas of your business. Here are some reasons
why you need to start thinking about an AI-driven CRM.

Collect data of multiple projects to identify the SLA’s of service,

threshold limits and Asset identification

To be filled in

Virtual assistants and bots. It’s time to forget about tedious

workflows, and speed up the sales cycle by using technology to
interact with your customers or schedule meetings. You can also
improve lead generation by having more accurate marketing
campaigns. Integrating AI into CRM can also automate customer
reports, emails, data capture, and more. This helps you avoid the risk
of human errors in your everyday tasks and administrative duties. An
AI-powered CRM will be able to learn from past decisions and
historical patterns to score the best leads for sales. Artificial
Intelligence will also be able to predict future customer behaviour.
How? AI is very helpful when it comes to analysing-- customer’s
emotions by a simple phone call, in order to establish strategies that
will increase the engagement. You will be able to connect with the
customers on an entirely new level, because you will give them
exactly what they want, when and how they want it.
Segmenting customers becomes easier AI won’t take away jobs,
but will actually help team workers to be more productive. You won’t
need to worry about manual data entry or the time it takes to look up
information, for example. Having intelligent algorithms will help you
segment customers easily. Imagine an automated segmentation that
will assure your message to be delivered to a specific group of
potential customers.
Increase customer engagement with AI-driven CRM. This
technology can help you as well to get an emotional insight from the
customer. Image recognition and sentiment analysis are two powerful
reasons why an AI-enabled CRM is the future for your business. Don’t
risk your qualified leads. AI can help you understand a customer’s
satisfaction in real time. Once you have this valuable insight, it’s easy
to take action and identify problems. Essentially, AI will be able to
better read the customers intentions.
Close more deals, learn from your mistakes. AI-based CRM can
study different scenarios where sales are most successful, and where
deals were rejected. For example, an AI algorithm can do wonders for
your price-optimization. This intelligence can tell you what the ideal
discount rate should be for a proposal, ensuring that you’re most likely
to win the deal. It’s no secret that businesses struggle to identify
which buyers are more likely to come back and buy more. Instead of
spending money marketing to those who won’t close deals, target the
ones who will. How is this possible? AI algorithms can gather
historical information from a client.
Identify Support Ticket Trends and Recommend Best Responses.
Customer service departments receive a lot of redundant support
requests. Customer service AI applications can alleviate the burden
on helpdesk agents by predicting which group or agent is best
equipped to deal with certain tickets. Further, it can recommend
certain canned responses based on ticket criteria or even apply a
response template for certain ticket. It can predict case metadata to
reduce data entry, and suggest or automate responses to lower
average resolution time, provide a consistent experience and improve
customer satisfaction. Wise.io and DigitalGenius are few of the
examples of AI based CRM applications which can be seamlessly
integrated with Salesforce applications.

Reduce Ticket Volume with Intelligent Customer Self-Service.

Another solution that spares your agents a high-ticket volume is an AI

app that digs through your knowledge base to deliver relevant, easily
understandable solutions to common cases. It helps to learn from past
successful ticket resolutions to identify similarities with existing tickets
and automatically prescribe steps to resolution. It understands the
everyday language of customers, redirects challenging tickets for
human intervention and provides a dashboard to track its
performance. Solvyy is one such application that is integrated with
salesforce application to provide this feature.