Digitization has transformed lead generation. No longer limited to traditional approaches of in-person events and painful cold calling, businesses are now using omnichannel outreach via e-mails, websites, apps, and social media to reach highly targeted customers who are ready to buy.
With the addition of more communication channels, sales cycles are now longer and more complex, adding to the marketing and sales workload. In addition, despite best efforts, HubSpot reports nearly 79 percent of leads never convert. So, it’s no wonder more than 40 percent of salespeople and 60 percent of marketers report they see lead generation as a major pain point. Enter AI. AI is the perfect tool to improve lead generation and lead nurturing.
Businesses are increasingly leveraging AI-powered tools for lead generation in their sales and marketing operations. These tools automate the once mundane and/or time consuming tasks of finding and qualifying leads, creating customer profiles, personalizing content, and nurturing leads. For example, through the use of AI platforms and other algorithms that collect and analyze data like sales and the performance of different marketing strategies, CRMs can function at a much higher level with business insights that improve sales and ROI with enhanced intel that aids customer management. According to reporting at Cience:
- Enterprises that used AI-enabled lead-generation tools saw a 15% to 20% increase in sales productivity and 20% in order management throughput.
- More than 40% of sales leaders using AI tools have seen major improvements in their lead prioritization, use of their salespersons’ time, and understanding of customer needs.
- About 84% of business executives believe AI can give them a competitive edge.
Here are some of the ways using AI as part of a comprehensive lead generation strategy can help a business grow.
1. Make Better Predictions
Using AI learning helps marketers make informed predictions by providing insight on the data collected and determining patterns in behavior.
2. Develop Lookalike Audiences
AI and machine learning enable marketers to identify and target audiences that are the best fit.
3. Gather And Analyze Sales Data
AI can extract intelligence from huge market research data sets, but that’s not all it can do. Using the data in your CRM and other data warehouses, AI examines profiles of customers, transactional data, and behavior data to provide invaluable insights.
4. Make Real-Time Decisions
AI can take real-time data from your CRM and other data warehouses like Facebook, Twitter, and other social media platforms to help with lead scoring to determine your ideal customer, where they are in their journey, and the targeted message you should put in front of them.
5. Create Targeted Lists
AI can be used to help create targeted lists such as a contact database grouped by industry, companies, and other factors with real-time updates. AI can then be used to manage updates, ensuring the data is always current. It also works well for creating e-mail lists and then tracking clicks, open rates, and other engagement.
6. Create Content
Content creation can be greatly assisted by AI, using it to generate subject lines, messaging, and design. However, there are still some hiccups with this. For more on this topic, read this article.
Now is an exciting time to take advantage of AI technology to improve your lead generation. There is no denying its ability to help marketers gain greater insights that can be used to target and nurture leads through their journey all the way to the end of the funnel and increase sales.