Artificial Intelligence For Small Businesses

Posted by Karen Erdelac on Jul 30, 2019

hand-1571842_1920"Artificial intelligence is the theory and development of computer systems able to perform tasks that typically require human intelligence, such as visual perception, speech recognition, decision-making, and translation between languages". You may be wondering how AI can help your small business grow. Here are three ways AI can help your small business.

Customer Service:

Keeping your customers happy is critical to growing your business. Customers like having live chat support but expect to be responded to immediately. With smaller businesses, they don’t always have enough staff to have 24-hour assistance by chat. What these companies could do is use AI-based chatbots to help their customers with support issues. AI chatbots are great at figuring semantics and grammar, determining what the customer wants and serving up fast, accurate responses. Whenever a customer requests a live agent, that chatbot can quickly route them to one, and give a summary of the issue and valuable contextual data for the agent. When using chatbots, you want to make sure to provide options, like menus, so customers can easily select top requests and understand the capabilities.

Predictive Lead Scoring:

Lead scoring is one of the most used AI disciplines in small and midsize businesses due to its time savings and return on investment. How lead scoring works is they rate their leads on activities and interactions together with a fair amount of guesswork. The problem with this is usually they are just scored once, and if you assume wrong about the value of the activity or the impact of the activity changes over time, a lead can have an inflated score that doesn’t lead to a sale. Making sure to score the leads a few times will keep you from missing out on better opportunities.

Better Marketing:

You set goals of reaching as many new leads as possible in a target range when you release a new ad. Before AI, you could create your ad on social media, and then handpick people you wanted to see the ad based on age, location, and profession. With AI, it has made it so much easier for marketers and business owners to upload information about their best customers from their website through Facebook’s Lookalike Audience. Then Facebook’s AI will build similar audiences based on the data such as demographics and interests.

Businesses can use AI to transform their sales, marketing, and customer service without spending a ton. Embrace the future of technology and let it help you grow your business.

A solid foundation is to keep everything transparent. You want to make sure to communicate effectively, test, and monitor and approve your processes to keep everything running smoothly. Make sure to document your process to avoid miscommunication.

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