Salesforce: World's #1 to Most Intelligent CRM

This article would help you understand AI, its importance in the present world and some examples where AI can be implemented in CRM software.

Introduction

Salesforce

A cloud-based CRM platform offering several applications related to sales, services, marketing, analytics, etc. It brought revolution in the IT industry by bringing software to the cloud with the aim to provide 24/7 support. In present days demand for cloud-based software has increased. Salesforce CRM market share doubled up to 21% in 2016 compared to 10% in 2010. With growing market & competition and to continue its growth trajectory upwards, it needs to move on to artificial intelligence and be part of

4th Industrial Revolution

Salesforce perceiving the environment shifted its focus to AI. Using the tech force can reduce human efforts, develop software performing different tasks, speed up the work with more precision.

Customer relationship management (CRM)

CRM is an approach for managing all relationships and interactions of your company with existing customers and possible leads. It helps in improving business relationships, increase profits, improving customer relationships and streamlining processes along with the transparency. It could help you find new customers, and keep them happy by organizing them.

Artificial Intelligence

Artificial Intelligence aka machine intelligence is related to machines having human intelligence. Understanding AI needs the study of ‘intelligent agents’, where software or any device aka ‘agents’, perceiving their environment take actions or make decisions to achieve a specified goal. These decisions are taken in real-time situations from agent’s past learning.

Artificial Intelligence has changed our lives, use of this technology can be seen in day-to-day services be it online shopping, ordering food, booking a cab, banking sector, medical sector, etc. AI nowadays has become part of everyone’s life. Almost all industries have shifted towards AI to connect with customers, to provide them what they want before they even think of it.

Salesforce Einstein

Salesforce Einstein is an Artificial Intelligence (AI) platform service that brought advanced AI capabilities into the core of the Customer Success Platform and making Salesforce the world's smartest CRM. Einstein's user can achieve goals like 

• discovering new trends and patterns
• extracting useful information
• predicting possible customers
• Sales analysis

Importance and Use of AI

Data is available in huge amount as companies are capturing minute customer interactions and availability of resources makes environment-friendly for AI. There is a huge list of successful stories, let's talk about some important usability of AI which are easy to understand and can be implemented with the minimum knowledge and efforts.

#1 Discovering Trends

Data mining is the process of discovering trends and finding patterns from the large data set. Digging into a pile of data and predicting the future can be helpful in the following:

• Production and Inventories can be organized or controlled according to trends.
• ‘Knowledge Driven’ decision making for managing production pipelines would be more effective.
• Improving customer relationships by predicting their aggressiveness towards their goals.
• Proactive decision making and giving cutting-edge technologies to customers.

#2 Capturing Information

Identifying, extracting and understanding useful information from data which then can be clubbed with AI tools.

• Producing Quality Data by learning from past and identifying important information from data which would reduce human errors & efforts in the era of automation.
• Important events can be identified which then can be triggered and monitored using AI.

#3 Scoring Opportunities

Analyzing companies data, updates, their sentiments and relationship with their partners would help in understanding the needs and policies of that company.

• By analyzing knowledge, talks can be initiated and that lead can be converted into a customer.
• This knowledge can also help in keeping track of your own competitors and quick action can control their market and power.

#4 Sales Analytics

Analyzing sales of your company by collecting data and generating reports. These reports would help in analyzing the weak links in the sales or could be used to find the fault in the production line. A good sales analysis can help in achieving greater heights.

• Understanding the customer and classifying them based on their interaction with the company.
• Classifying Customer Care queries would help in managing their requests or identifying major issue with the system and its impact can be controlled.
• Automated reply to customer’s email or email body could be prepared using AI.

#5 Social Media Marketing

AI can be used to understand your audience and efforts could be made to reach out to similar audiences by building a recommendation system. Customers sentiments could be recorded, which can also be used in sales.

Deep analysis of social media content has been fruitful to companies where they have analyzed most liked photos & videos and come up with some ideas of how to attract new customers.

Sale and promotion optimization is also trending on social media, many companies have studied and analyzed the most liked posts and their posting time. AI could be used in creating promotion content and predicting best posting time to boost up a particular product or launch events could also be scheduled accordingly.

Conclusion

Now that we have gained brief knowledge about Salesforce Einstein and Artificial Intelligence. And with above-mentioned use cases, we can kick off our first AI project with Einstein which has brought AI right into CRM apps.

References

Big Data and How Salesforce Einstein can help you

3 Reasons Why Your Business Needs Salesforce Einstein

Photo Sources: Google