Why do AI-powered sales initiatives often fail?
Posted: Sat Dec 21, 2024 4:43 am
Artificial intelligence (AI)-driven sales can improve conversations, increase conversions, and make more accurate forecasts. In a previous post , 15 Ways AI Can Help Sales , we explained how salespeople can benefit from AI-powered forecasts and recommendations.
As you embark on the journey of making your team AI-powered, you should remember that many have tried to use AI in sales. And many of those attempts have failed. Understanding the reasons for failure will help you avoid the pitfalls.
Here are the reasons why buy Phone Number List some AI-based sales initiatives fail?
Lack of past data to train learning models
Incorrect learning models used by the AI engine
Scattered reports of ongoing transactions
Poor adoption of AI-based features by salespeople
Lack of persistence
Let's find out more about these points.
Insufficient data
To provide predictions and recommendations, AI engines use data about your past deals. This includes deal-related data such as calls, emails, completed tasks, documents sent, contact fields (e.g., contact role in the deal), organization fields (e.g., organization, industry, location), etc.
With more data, predictions and recommendations such as best time to contact, deal score, and deal recommendations become better.
Adviсe
If you already have data on past transactions, you can expect good results at the very beginning of your AI implementation. Vtiger can also import your past data from other CRMs if your organization wants to use Vtiger Calculus AI.
Some AI features, especially those included in natural language processing (NLP), such as call analytics, email analytics, sentiment scoring, conversation signals, do not require historical data. So, including this in your initial goals will help your salespeople from day one.
Note : Vtiger can import your past data from other CRMs.
Fixed learning models
Various machine learning (ML) models can be applied to historical data to make predictions. The choice of model can have a big impact on the results. Machine learning models that use self-learning methods produce more accurate results.
Adviсe
Please note that training models may require adjustment. The Vtiger team is ready to work with you to monitor the results and make any necessary adjustments.
Vtiger Calculus AI allows administrators to customize models and easily configure controls to achieve the best results for your organization.
Calculus AI also offers salespeople the ability to correct an opinion with a single click if they discover that certain text in an email or call transcript was misinterpreted by the system.
Disjointed Communications and Hidden Touchpoints
If calls, emails, chats, and WhatsApp conversations are not logged in the system, AI engines will make poor predictions and recommendations based on incomplete data. Some touchpoints (like engaging in a quote or ROI document sent by your salesperson) may be out of sight, but are no less important to track the interactions and get the right prediction.
Adviсe
Find a tool with plugins and integrations that automatically migrates calls, chats, WhatsApp conversations, and emails to your CRM without any effort from salespeople.
The Vtiger CRM mobile app and web client allow salespeople to make calls and chat on WhatsApp from within the app. Vtiger also integrates with Zoom and Google Meet. (Microsoft Teams integration is expected in Q1 2021.) Vtiger also has add-ons for Gmail and Office2021.
Vtiger CRM has built-in document tracking. When you send an email from Vtiger with a quote or any other document, the CRM not only alerts you when the recipient views it, but also uses the data to update forecasts and recommendations.
Poor Adoption
Inaccurate forecasts or recommendations can quickly dampen enthusiasm and reduce adoption. Therefore, it is important to set the right expectations and perform a functional deployment of AI from the beginning. Since some AI-based features may require data, it is better to deploy them 2 or 3 months after the initial release.
Adviсe
Use tools that require minimal changes to your habits.
Set a two- or three-month phased schedule for rolling out the AI feature. Phase 1 may include features that do not require historical data (as noted above).
Lack of Persistence
As with any new initiative, there will be obstacles. Especially initiatives that require some change in habits, even minor ones. You should expect to see challenges as you roll out AI-driven sales. These could be in the form of inaccurate forecasts due to faulty models or insufficient data, or poor adoption due to a lack of training.
Knowing that this is on track and then taking corrective action will set your sales team up for a successful outcome.
Adviсe
Your line managers are critical to the successful deployment of the AI function. They should be involved in planning and monitoring the AI implementation process.
Share your feedback with your Vtiger CRM trainers to get recommendations.
With the right tool, you should expect to see AI-driven sales results within three months.
Ultimately, you should think of it as a smart assistant that will guide your salespeople and give them the information they need to communicate more effectively.
Try Vtiger Calculus - it's time to bring AI to your sales teams.
Vtiger Calculus is an add-on available for Vtiger Sales and Vtiger One editions (Professional and Enterprise levels). AI-powered forecasts, deal scoring, deal recommendations, email assistant, call analysis, and coaching features are all part of Vtiger Calculus.
Part of the AI Computing , there is Vtiger Chatbot , a dedicated chatbot solution that generates accurate responses when integrated with a business knowledge base. It improves customer service through timely assistance and personalized response. Learn more about Vtiger Chatbot .
As you embark on the journey of making your team AI-powered, you should remember that many have tried to use AI in sales. And many of those attempts have failed. Understanding the reasons for failure will help you avoid the pitfalls.
Here are the reasons why buy Phone Number List some AI-based sales initiatives fail?
Lack of past data to train learning models
Incorrect learning models used by the AI engine
Scattered reports of ongoing transactions
Poor adoption of AI-based features by salespeople
Lack of persistence
Let's find out more about these points.
Insufficient data
To provide predictions and recommendations, AI engines use data about your past deals. This includes deal-related data such as calls, emails, completed tasks, documents sent, contact fields (e.g., contact role in the deal), organization fields (e.g., organization, industry, location), etc.
With more data, predictions and recommendations such as best time to contact, deal score, and deal recommendations become better.
Adviсe
If you already have data on past transactions, you can expect good results at the very beginning of your AI implementation. Vtiger can also import your past data from other CRMs if your organization wants to use Vtiger Calculus AI.
Some AI features, especially those included in natural language processing (NLP), such as call analytics, email analytics, sentiment scoring, conversation signals, do not require historical data. So, including this in your initial goals will help your salespeople from day one.
Note : Vtiger can import your past data from other CRMs.
Fixed learning models
Various machine learning (ML) models can be applied to historical data to make predictions. The choice of model can have a big impact on the results. Machine learning models that use self-learning methods produce more accurate results.
Adviсe
Please note that training models may require adjustment. The Vtiger team is ready to work with you to monitor the results and make any necessary adjustments.
Vtiger Calculus AI allows administrators to customize models and easily configure controls to achieve the best results for your organization.
Calculus AI also offers salespeople the ability to correct an opinion with a single click if they discover that certain text in an email or call transcript was misinterpreted by the system.
Disjointed Communications and Hidden Touchpoints
If calls, emails, chats, and WhatsApp conversations are not logged in the system, AI engines will make poor predictions and recommendations based on incomplete data. Some touchpoints (like engaging in a quote or ROI document sent by your salesperson) may be out of sight, but are no less important to track the interactions and get the right prediction.
Adviсe
Find a tool with plugins and integrations that automatically migrates calls, chats, WhatsApp conversations, and emails to your CRM without any effort from salespeople.
The Vtiger CRM mobile app and web client allow salespeople to make calls and chat on WhatsApp from within the app. Vtiger also integrates with Zoom and Google Meet. (Microsoft Teams integration is expected in Q1 2021.) Vtiger also has add-ons for Gmail and Office2021.
Vtiger CRM has built-in document tracking. When you send an email from Vtiger with a quote or any other document, the CRM not only alerts you when the recipient views it, but also uses the data to update forecasts and recommendations.
Poor Adoption
Inaccurate forecasts or recommendations can quickly dampen enthusiasm and reduce adoption. Therefore, it is important to set the right expectations and perform a functional deployment of AI from the beginning. Since some AI-based features may require data, it is better to deploy them 2 or 3 months after the initial release.
Adviсe
Use tools that require minimal changes to your habits.
Set a two- or three-month phased schedule for rolling out the AI feature. Phase 1 may include features that do not require historical data (as noted above).
Lack of Persistence
As with any new initiative, there will be obstacles. Especially initiatives that require some change in habits, even minor ones. You should expect to see challenges as you roll out AI-driven sales. These could be in the form of inaccurate forecasts due to faulty models or insufficient data, or poor adoption due to a lack of training.
Knowing that this is on track and then taking corrective action will set your sales team up for a successful outcome.
Adviсe
Your line managers are critical to the successful deployment of the AI function. They should be involved in planning and monitoring the AI implementation process.
Share your feedback with your Vtiger CRM trainers to get recommendations.
With the right tool, you should expect to see AI-driven sales results within three months.
Ultimately, you should think of it as a smart assistant that will guide your salespeople and give them the information they need to communicate more effectively.
Try Vtiger Calculus - it's time to bring AI to your sales teams.
Vtiger Calculus is an add-on available for Vtiger Sales and Vtiger One editions (Professional and Enterprise levels). AI-powered forecasts, deal scoring, deal recommendations, email assistant, call analysis, and coaching features are all part of Vtiger Calculus.
Part of the AI Computing , there is Vtiger Chatbot , a dedicated chatbot solution that generates accurate responses when integrated with a business knowledge base. It improves customer service through timely assistance and personalized response. Learn more about Vtiger Chatbot .