Customer Acquisition Costs

Artificial Intelligence is the newest technology concerned with building smart machines capable enough to perform tasks that typically require human intelligence. Likewise, AI has made inroads into quite a few sectors negating human interference.

AI in sales and marketing:

AI’s presence is now being felt in the field of sales and marketing as well, so much so, that it is now the solution to the soaring customer acquisition costs which is one of the biggest problems encountered by sales and marketing professionals.

Every day, in the world of sales and marketing, a new player enters the markets making it expensive to acquire additional customers. To cite an example, It costs 65% more to acquire the same customer today as it did four years ago if you are a player in B2B tech. The cost means you end up spending more on sales and marketing without much returns which affects your company’s profitability.

With such a competitive business environment, ONPASSIVE’s AI-enabled business solutions, featuring smart tools can let you acquire quality customers with a fraction of the intended cost.

Related: Tips to Improve Your Customer Acquisition Strategy

AI-driven sales analytics for better results:

The sales and marketing honchos, to be in the lead from the competitors, have always leveraged AI and sales analytics to get a clear understanding of sales and marketing’s contribution to the revenue generation process. This lets them know how much value is being generated by either sales or marketing and can identify the aspects of the acquisition funnel that needs fixing, or improving or expanding.

ONPASSIVE, the smart business solution offers a complimentary Hidden Revenue Assessment connecting the dots in small business owners’ CRM data to identify the skills and attributes which have the greatest impact on performance. ONPASSIVE’s artificial intelligence engine has the potential to uncover a considerable revenue loss due to gaps in selling behaviors and skills.

Artificial intelligence applied in sales and marketing can measure intangible elements such as the work ethic of a salesperson, product knowledge and his engagement ability. It is safe to say AI  helps in the prospecting of a team to focus on developing skills and enforcing the types of behaviors that are the most conducive to success.

Quality over Quantity of AI data:

AI’s core objective is to detect patterns and they do it best in any scenario or any application. Even if the marketing or CRM data is erroneous, that can be compensated for by using Machine Learning (ML) and Natural Language Processing (NLP) to see what’s going on in the business and can detect trends or patterns before they impact the business’s revenues.

To top it all, AI helps understand the source of poor data quality, be it a marketing tool, a sales process or an individual salesperson. After identifying the source of the data, business owners can address the problem and ensure to have the best data in the future.

ONPASSIVE’S easy AI integration:

Despite many sales and marketing companies thinking their CRM data could be augmented by developing an in-house AI solution, it has proven to be time-consuming and pricier than outsourcing the work to proven AI for sales solutions.

ONPASSIVE’s specific AI-enabled tools have been designed for individuals and small businesses to augment their CRM data without any hassle for a minimal cost.

In conclusion, sales and marketing are in the process of becoming more personalized for the consumer, and predictable for the vendor. Since the system of record for all data is CRM, CRM, in days to come, will be most impacted by AI. Now is the time to onboard the ONPASSIVE ecosystem to be ahead of the sales and marketing team.

Related: Improve Client Retention by Spending Less