Over the last few years, artificial intelligence has seen increased usage in terms of the success and the growth of small and large businesses. While artificial intelligence has shown an immense impact on big businesses, its impact on small businesses is also not far behind. Some of the ways in how Artificial Intelligence can help small businesses are as follows:
With the advent of Artificial Intelligence and its deep roots in the corporate scenario, people may end up automating almost all tasks, and several tasks that seem to be redundant in the present scenario may seize to exist.
1. Using data efficiently
With the growth of Artificial Intelligence, it has become quite easy for several businesses to use their data effectively and plan their journey according to the data trends. You must be collecting the data of customer interaction for improving your processes, Artificial Intelligence and intelligently help you customize the data and use it as per your need.
The various CRM tools available in the market are integrating Artificial Intelligence and ensures that promote a better interaction with the customers and a better understanding of the problem statement.
2. Effective sales
There are n-number of tools available in the market at present which integrate artificial intelligence to make your job easier. Some of these tools may include some customer and client management tools, transcribing and recording tools, analysis tools, and many more. These tools, when used in the right way, can help increase the productivity of your sales representative and help them understand the need of the day in a better way.
With the different recording and transcribing AI tools, one can record conversations for future reference and also analyze them to understand what could be done better in terms of client calls. If the sales team is confident of what they are doing, you can expect your business to grow in leaps and bounds.
3. Automation of repetitive tasks
Many redundant tasks could be eliminated from the workflow with the use of modern-day technology and the advent of Artificial Intelligence. For example, setting a meeting and rescheduling it might take a while for a team member, you can automate it with the help of AI personal assistant.
Some of the repetitive processes in the workflow can also be removed, to make space for more productive ones.
4. Better customer support
With Artificial Intelligence in the form of Chatbots, small businesses can always stay connected with their customers and answer any questions they might have. Chatbots can be programmed with the minimum skills of the programmer and a proper script.
Eventually, the chatbots can be trained to understand customer issues and provide solutions to it. As of the frequently asked questions, you can reduce labor by training the chatbot with the necessary scripts and preparing it to handle various questions from the customers.
With the help of the chatbot, you can expand your team and make the chatbot on behalf of your call center employees, 24X7. Surveys have mentioned that more than 53% of customers prefer to chat about their issues before they call for it, and hence, having a chatbot in place could be the best idea possible for a small business with limited team size.
5. Strategize effectively
Some of the Artificial intelligence integrated tools help small businesses in making better sales calls and understanding of what should be done and what should not. For example, some tools, when integrated with your phones, can record and analyze conversations to identify the different approaches and assess the various sales tactics and effectiveness of those strategies.
Artificial intelligence in different forms can also allow you to prepare your business strategies properly so that you can grow the business as you want.
6. Understanding of customer lifecycle
By making use of artificial intelligence integrated tools, you can effectively understand your customer’s lifecycle, the customer journey in detail, and understand loopholes in the business. Also, this would help you in perceiving the greater side of things and ensure that you provide end-to-end customer satisfaction with your company products or services.
All this and more, understanding the customer journeys will help you design your product and services better to be able to cater to a bigger audience.
7. Optimized Email Marketing
Email marketing is more often than not, considered a redundant task if the results are not good enough. However, it can prove to be a very powerful method to ensure that your reach to the customer increases, and you get a better idea of the customer’s requirements in the process. With the help of Artificial intelligence, you can fine-tune your email marketing strategies and ensure your ROI is high.
8. Better Market Analysis
Market analysis, if done theoretically, might not be a good option. Instead, if you could make use of some technology or tool that aids you in analyzing the market and deducing results based on it, why not? For instance, you could use results from surveys such as these https://www.qualtrics.com/core-xm/enterprise-business-surveys/ and run through AI analysis. Artificial Intelligence in terms of small businesses helps in understanding and judging the market in a better way and hence, helps the small businesses to prepare their workflow for a better approach to customers.
Making use of Artificial Intelligence for market research ensures that you have an in-depth idea about the business market, your competitors, and what it would take to become the best player in the market. Thus it ensures that you can stay ahead of your competitors always and understand your profit and loss models in a better way.
9. Do Away with HR services
With the integration of the HR services, you can do away with your HR services. Almost all the HR processes can be carried out using the pre-designed and programmed chatbots. At the present day, Artificial Intelligence integrated systems are capable of taking up candidate screening, communicating with employees, etc.
which in turn will impact the hiring, sales, marketing, and other such efforts of the company. Hundreds of applications and human efforts can be reduced considerably with the integration of artificial intelligence into our work culture.
Artificial intelligence has become an important aspect of our corporate ecosystem at large. The techies are coming up with different aspects of work-culture and integrating it with Artificial Intelligence to increase the productivity and the overall benefit of the task. Especially in the case of small businesses, the impact on Artificial Intelligence is worth mentioning, and each day some businesses, or the other is taking up Artificial Intelligence in different forms in different aspects of their business and making the most out of it.
With the technological advancement and the growth of Artificial Intelligence, it comes evident that in the days to come, we will see a completely different form of business, be it big or small. With the advent of Artificial Intelligence and its deep roots in the corporate scenario, people may end up automating almost all tasks, and several tasks that seem to be redundant in the present scenario may seize to exist.
Apart from the already mentioned ways in which Artificial Intelligence can change the picture for small businesses, there are many more. Every single day, techies are coming up with new Artificial Intelligence integration techniques that ensure s better utilization of the available resources, time, and optimization of tasks. In the days to come, one can see a big boom in the utilization of Artificial Intelligence techniques and optimized work culture.