Business Implications of an AI-Powered CRM - Nalashaa ...
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Business Implications of an
AI-Powered CRM
Anjan Barman is a technology enthusiast with primary
interests in the applications and possibilities of Cloud,
RPA, AI, CRM, and the like in modern businesses. He
loves exploring how innovations help organizations
improve their efficiency while reducing the operating
costs and presents the same in an atypical way. His other
indulgences are non-fiction paperbacks, oriental music,
and cricket.
CONTENTS
Introduction - 3
Market Forecasts - 4
Sales Assistance - 6
Marketing - 7
Logistics - 10
Customer Service - 11
Field Service - 12
Talent Acquisition - 13
Business Partnerships - 14
Final Word - 15
Get in Touch - 16
All rights reserved © 2020 3
When the global research firm Gartner predicts that by 2022, the business value
created by AI will reach $3.9T, the claim is backed by substantial empirical data.
There’s a good reason why top tech companies are pumping billions of dollars
into research and development of AI to augment automation.
The quest for convenience is the primary reason why AI
has ventured out of the labs and academic circuit and
forayed into the practical world.
Be it a manufacturing unit, a retailer, a marketing
agency, or customer service, AI is being adopted as the
core engine of growth. Staggering figures arrived at
through extensive surveys have established it beyond
doubt that AI is the present and AI rules the future.
In the realm of Customer Relationship Management
(CRM) software, the scope of AI is not limited to the
ones listed below but stretches way beyond them.
All rights reserved © 2020 3
Microsoft Dynamics 365, the leading CRM, heavily leverages Artificial Intelligence
to deliver a cutting edge customer relationship solution that offers possibilities
which, until a few years ago, were part of most business leaders’ fantasy.
The purpose of this white paper is to throw light on how AI has entirely
transformed every major CRM in general and Microsoft Dynamics 365 in
particular. From an on-premise software for data collection and storage to an
intelligent cloud-based tool for purposeful data analysis, interpretation, and
action, it’s the future of customer management.
The reason why AI synchronizes perfectly with CRM
and enhances it is that the former develops on
data, and the latter provides it in abundance.
Market Forecasts
AI offers relevant market forecasts so that you are ready
with the market demands of the near future.
Visionaries are legendaries. This statement seems to be tailored to the business
world. Since time immemorial, towering business personalities have been the
ones who have had a distinct and accurate assessment of what the world is up to
and have perfected their businesses accordingly.
This is a natural trait and not everyone is gifted with it. But it doesn’t suggest that
there isn’t any other way to predict the future. Today, businesses invest heavily in
special resources to gauge what the future holds for them, yet with all those teams
and tools, millions of dollars get wasted due to grossly inaccurate forecasts.
Through market data and algorithms, AI-driven Dynamics 365 offers an
unmistakable idea of what the market will demand in the future.
All rights reserved © 2020 4
You get a drill down image of the upcoming trends based on geography,
demography, behavior, likes, and dislikes of your customer base. The insights are
drawn from social networks and other digital platforms, and are presented as well-
detailed charts, graphs, and reports which leaves nothing for you to do other than
cash in on them.
By analyzing behavior patterns and preferences from loads of data, it provides
you with future numbers, characteristics, and trends the market will tilt towards
in the coming days. The segmented view of data through interactive dashboards
facilitates quick actions.
Without a piercing vision of how
computers would foray into the
bedrooms of people, Steve Jobs
wouldn’t have been able to make a
dent in the universe, at least in the
way he did.
A solid grasp of your customers helps your development team to understand their
needs and when you launch any mobile application or website, the awareness will
be immensely helpful. Bear in mind that for most businesses, the conversion rate
has a lot to do with their digital platforms and UX.
Dynamics 365 predicts through algorithms, not preferences.
All rights reserved © 2020 5
Sales Assistance
From lead identification to deal closing, you get
intelligent assistance to achieve those ambitious targets.
Lead identification is a gigantic challenge for today’s businesses. That’s because
irrelevant and wrong leads are pretty difficult to identify without investing time
and money. The lead scoring algorithms of AI-powered Dynamics 365 help you
negate this problem and let you respond to the hottest leads on priority.
Automation of the entire sales cycle adds to the productivity and revenue of the
organization.
50% of sales time is wasted on unproductive
prospecting.
Dynamics 365 equips your sales team with forecasts on the conversion
probability, allowing it to take timely and required measures. Non-exciting tasks
like data entry, quotation generation, and price and discount adjustments are
seamlessly automated. For open threads requiring follow-ups, notification alerts
are sent out to the concerned individual(s). For every lead generated, Dynamics
365 passes the information to all stakeholders at the right time.
High-performing companies are 2x as likely as
underperforming companies to describe their sales
processes as automated.
All rights reserved © 2020 6
Marketing AI offers detailed suggestions about where and how to invest your marketing budget to enjoy the highest ROI. Percent of Their Marketing Budget Lost on the Wrong Channels or Strategies, According to Marketers Worldwide Source: Rakuten Marketing, ‘What Marketers Want in 2018: Five Strategic Opportunities for 2018”, conducted by Morar HPI; eMarketer calculations, March 13, 2018 Businesses shell out millions for marketing, but most activities are targeted at the wrong audience, gaining nothing worthwhile. This is corrected by Dynamics 365 market insights that offer segregated data on market trends. Equipped with these, you are already halfway through the road to domination. AI-powered Dynamics 365 studies data of your past efforts and enables you to craft a finely-tuned customer-centric strategy for future endeavors. It lets you tailor personalized engagement for better targeting and appeal. All rights reserved © 2020 7
80% of all marketing executives surveyed see
marketing AI as the next big thing, revolutionizing
marketing by 2020
Today, businesses that deliver personalized
engagements in every sphere flourish. This
isn’t an easy task but a highly necessary one. Consider:
What is your favorite line of approach to
After months of
digital marketing? If it’s email (one of the
most effective ways), toiling, you arrive
at a strategy that
Dynamics 365 lets you spot the email
you feel is a sure-
type that performs the best. It also offers a
segregated view of the KPIs for your emails, fire way to strike
social media, and other marketing strategies. a chord with your
Reaching out only to the intended audience
audience. However,
saves money.
after a while, you
Trend prediction and sentiment analysis of discover that the
customers enable you to refine your moves. A
market isn’t ready
problem for most organizations is the time lag
between the first customer response and the for your idea. What
team reaching out to them. This is resolved do you do? If you
by an automatic reply with a CTA button
proceed with the
to the customer as soon as they click on a
campaign, or share their details, or download plan, chances of
a white paper. You can also trigger real-time failure are high.
responses when your ads are being viewed
This is where the
on digital platforms like websites or social
media. precise prediction
of Dynamics 365
Dynamics 365 helps you predict the success
helps you make the
of your marketing activities. When you
connect the performance data to your KPIs right choice
(objectives), you can set auto triggers for
further activities.
All rights reserved © 2020 8
AI and machine learning have the potential to
create an additional $2.6T in value by 2020 in
marketing and sales.
An example of targeting with AI:
A lady checks out a recently launched SUV on the internet. The marketing
firms pound her digital platform accounts with promotions of all kinds of
vehicles without acknowledging her choices.
Here, the smart recommendation would be a tailored message (tapping
her preferences) with a CTA button. Based on her interests, it would carry
vehicle information from her preferred brand, segment, engine capacity,
and even budget.
The success of the likes of Amazon, Microsoft, Apple, and General
Motors can be attributed to their ability to predict long-term trends.
All rights reserved © 2020 9
Logistics
You can significantly reduce
logistics costs while delivering
optimal service with Dynamics
365.
You can control most aspects of sales,
marketing, operations, and customer service
but logistics isn’t entirely in your hands.
A few of the common but disquieting
problems are skyrocketing fuel prices, high
vehicle maintenance costs, flawed network,
delayed responses, low transparency, and
tedious return process. The result – unhappy
customers and a loss of business.
Dynamics 365 redeems your logistics and
delivery network. For saving vehicle costs by
route optimization, it recommends the fastest
and the least expensive route. Intelligent
algorithms estimate the time-of-arrival of
consignments and even considers the effects
of weather on shipments. Real-time tracking
of consignments brings in the much-desired
transparency to the process.
All rights reserved © 2020 10Customer Service
AI in Dynamics 365 helps you reduce your dependency on service
agents and empowers your customers with self-help capabilities
Dynamics 365 for customer service draws actionable conclusions from past
service cases and estimates the ones to expect in the coming days. For instance,
for the service department of a car dealership, Dynamics 365 shows which
model is most likely to come for a job, the likely glitches needing a fix, the spares
required, and so on. This helps you maintain optimum inventory levels and
manpower so that you are all set to tackle every service problem.
When you deploy service chatbots/virtual assistants based on AI, your
dependency on manpower drops, and so do your expenses. Additionally, since
chatbots work round the clock without any slump in performance, services are
available 24/7 and with minimal human intervention.
For problems requiring human attention, AI raises service tickets and escalates
requests to designated resources based on case priority. For service agents, AI
equips them with tools, case history, knowledge base, and everything they need
to resolve issues.
Across the globe, 96% of consumers say customer
service is an important factor in their choice of
loyalty to a brand.
Service managers can track case status in real-time and analyze customer
sentiment on social media platforms. The customer service department also has
revenue targets to achieve; to this end, Dynamics 365 provides customer data that
help agents make recommendations for cross-selling and up-selling.
All rights reserved © 2020 11Field Service
Concerns like remote assistance, proactive response, agent
scheduling, and service costs are duly addressed by the AI
capabilities of Dynamics 365.
The most exciting feature of AI-laden Dynamics 365 lies in its field service suite.
Known as predictive maintenance, it’s a revolutionary move in the realm of field
service that helps you intimate customers about problems in their devices even
before they occur. This is done through IoT (Internet of Things), sensors, and
cloud.
It is estimated that by 2021, an additional $394
billion in revenue could be gained from AI adoption
in CRM activities in the United States
Sensors attached to the device
continuously analyze device data
to detect anomalies and send the
information to the CRM through
Azure Cloud so that timely actions
can be initiated. This allows you to
trigger pre-set actions as a response
to potential problems. Problems
are nullified before they occur, thus
altering the concept of aftersales
service.
Predictive maintenance is seen as one of the best options to improve
productivity, decrease downtime, and improve safety.
All rights reserved © 2020 12Talent Acquisition
The towering challenge of spotting,
onboarding, equipping, and engaging
the best talents is exceptionally easy with
Dynamics 365 Talent.
No matter how advanced or capable machines
get, the demand for human workers remain
unchallenged. Connecting with the right individuals
is difficult and hence you have Dynamics 365’s
intelligent search feature.
Approximately 72.8% of
employers are struggling to
find relevant candidates
It lets you spot the right talent for the right job,
understand candidate intent, view trends, and
rediscover candidates. For relevant search results,
AI powers spell correction, synonyms, predictions,
and natural language processing.
42% of employers are worried they won’t be
able to find the talent they need.
All rights reserved © 2020 13Business Partnerships
With features like vendor evaluation criteria and vendor activity tracker,
managing business partners is no longer a cause of concern.
The conduct of your business partners like dealers, distributors, channel partners,
suppliers, etc. can make or break your business. There are ample examples of how
a small disagreement within a global JV ultimately leads to its split.
To avoid such setbacks, Artificial Intelligence of Dynamics 365 lets you choose
the best vendor as per evaluation criteria like vendor size, asking price, quality,
etc. AI provides features to identify and track business opportunities and monitor
the vendors against those, giving you better control of end-to-end supply.
A smart CRM is the best tool for vendor
management as it provides a 360-degree view of
vendor information, communication, and records.
All rights reserved © 2020 14Final Word
Industry analysts predict that the global CRM market
will grow at a 13.7 percent Compound Annual
Growth Rate (CAGR) through 2021.
AI-based CRM touches almost every area of
business. The ones listed above are just a few
of its many applications. There are many more
like finance and operations, supply chain
management, etc. But the crux of the story
is that when CRM is injected with Artificial
Intelligence, it does wonders for businesses.
Every day, you are bombarded with data
that isn’t harnessed in any helpful way. It’s
impossible for anybody to go through the vast
ocean of data and draw relevant inferences to
fuel one’s business.
Dynamics 365 CRM with AI-capabilities enables you to transform these data
streams into business-relevant information. AI mines, streamlines, and analyses
data, and draws meaningful conclusions from it to serve business purposes.
Consequently, most tasks are automated, eliminating the need for human
involvement.
AI infuses business acumen into every process and hurls you beyond your
competitors’ reach. The benefits are futuristic and it’s always rewarding to be
slightly ahead of time.
When CRM is injected with Artificial Intelligence, it does wonders.
All rights reserved © 2020 15We Can Help!
The functionalities and conveniences offered
by Dynamics 365 make it an absolute
necessity for your business. Gaining an edge
in the market to beat the competition is the
only way to the growth and sustainability
of organizations. And this where Dynamics
365 enters the scene. It’s highly reliable,
competent, and popular and can catapult
your business to the next level.
Connect with us for a free demo!
About Us
Think Simple. Build Powerful.
That’s not just a philosophy; it’s our way of life.
We are determined to meet your needs and
expectations by delivering simple solutions;
solutions that would help you derive
meaningful insights and better outcomes for
your business.
Contact Us
510 Thornall Street, Suite 201,
Edison, NJ-08837, USA
732-602-2560x200
www.nalashaa.com
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