Sales

Unlocking Hidden Insights: How Generative AI Analyzes Data for Sales Intelligence

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By Market Veep

4 min read

Generative AI is an increasingly ubiquitous topic in the world of marketing and business.

However, its impact on sales intelligence continues to fly under the radar — much to the detriment of sales professionals.

A recent study found that one in three salespeople are eager to use more generative AI. However, as many as 53% of them don't know how to get the most value from gen AI, especially while at work.

Understanding the possibilities and use cases of generative AI can help sales reps analyze data and produce sales intelligence faster. In an increasingly competitive global marketplace, it could even mean the difference between success and abject failure.

Understanding Generative AI

Generative AI, also called gen AI, is a type of artificial intelligence designed to create content. This typically includes text, images, and video, but may also involve synthetic data depending on the model.

As opposed to other types of artificial intelligence, generative AI is primarily focused on generating new content. Traditional forms of AI analyze existing materials by recognizing patterns. Generative AI, on the other hand, creates new patterns to analyze.

Sales as a whole is a deeply interactive industry, generating thousands of terabytes of data every single day. Feed this data to a generative AI model, and you unlock a world of possibilities.

The Role of AI in Sales

Today, most businesses use AI to fulfill repetitive or routine tasks. Some companies leverage the technology as a form of marketing automation, while others tap into wide-lens capabilities by turning their model into an engine for predictive analytics.

One of the most interesting use cases for AI and sales is the ability to forecast future probabilities. When fed enough data (such as historical sales numbers), generative AI can provide its prediction of the future, including the probability of closing a deal or the likelihood of reaching specific sales numbers.

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The benefits of using AI in sales speak for themselves:

Time savings. Studies predict that generative AI could offload 60% of the tasks typically handled by sellers. This frees up the sales rep to perform more meaningful tasks, including building better relationships with leads.
Cost savings. With fewer menial tasks required during the workday, sales reps can maximize their touchpoints with customers. This can deepen relationships and increase the probability of a sale, turning potential energy into kinetic, tangible numbers.
Stronger decision-making. Data-driven decisions have become tantamount to success, especially within an increasingly competitive sales industry. Generative AI presents a unique opportunity to gain business intelligence and make informed decisions quickly.

Studies show that current uses of AI in sales can create 50% more leads, cut 60% of sales-related costs, and reduce time on calls by 70%. Failing to explore your options with generative AI could hold your sales team back from reaching its full potential.

Generative AI in Sales and Marketing

According to HubSpot, our favorite sales and marketing CRM, there are three specific applications for generative AI for sales and marketing.

They include:

Content creation (18% of the time)
Prospecting for leads (16% of the time)
Analyzing data for sales intelligence (16% of the time)

With content creation, sales agents have the ability to generate customized sales assets within minutes. This could be a custom email, a personalized sales script, or even a set of sales proposal slides.

With lead prospecting, generative AI can produce full lists within minutes. This includes the creation of a detailed Excel sheet listing business names, positions, and contact info.

With data analysis, sales reps can feed historical data to AI in order to identify patterns and trends in sales data. This allows businesses to take advantage of sales opportunities and uncover new selling possibilities for the future.

There are several applications for AI data analysis in sales:

Prescriptive analytics, which provides tangible action items that could improve or change a forecasted outcome.
Sentiment analysis, which determines a prospect's opinion of a product, person, or service and assesses whether a rep should focus on shifting their perceptions.
Lead scoring, which predicts a lead's probability of closing and enables the sales rep to prioritize their contacts.

Developing an AI Sales Strategy

Incorporating generative AI into a winning sales strategy takes time, patience, and a great deal of planning.

The simplest and most effective solution is to follow a proven, step-by-step process:

Consider your needs. Sit down with your sales team and stakeholders to discuss your existing strategy. Where are the gaps AI could fill, and how could you simplify tasks with an AI tool?
Set your KPIs. You can't manage what you can't measure, and the same is true of an AI sales strategy. Determine the metrics that will indicate success, whether that's money saved, leads generated, time reduced, or something else.
Choose the right tools. It's imperative to select the right AI platforms and tools that will effectively suit your business needs. If you manage a team of home service sales professionals, for example, you may want to consider an AI feedback platform like Rilla. If you're looking to evaluate forecasted data, it may be worth considering predictive analytics in HubSpot.
Implement and train. Set your sales reps up for success by providing onboarding and training support at the earliest phases of your digital transformation. Market Veep offers HubSpot onboarding services to ensure a successful integration and migration.

Summary

Generative AI marks the beginning of a new age for sales reps, particularly when it comes to data analysis. It cannot replace the human element of sales, but it can speed up workflows, leaving more room for more human interaction.

Curious about implementing AI tools like HubSpot? Market Veep can help. Call us today and learn more about our onboarding services as a certified Diamond HubSpot Partner.

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