As the world continues to go through successive stages of digital transformation, sales and marketing teams are increasingly relying on artificial intelligence (AI) to improve their performance.
According to a report by PwC, AI could contribute 15.7 trillion dollars to the global economy by 2030. This trend is clear everywhere in the business environment, including in Romania.
Romania's software market forecasts show that investment in AI will grow by 21.5% annually from 2023 to 2028, which will bring considerable improvements in business performance.
In this context there are at least five ways that AI is already making sales and marketing teams perform better.
How does AI help marketing and sales teams?
1. Improving customer segmentation
AI algorithms can analyze huge amounts of data to identify patterns and correlations that humans might miss. In Romania, 54% of companies report using AI for customer segmentation and personalization of tactics. For example, an e-commerce company in Bucharest uses AI to analyze customer buying behaviors and preferences and, based on the patterns discovered, offers personalized recommendations. This application of artificial intelligence significantly improves the conversion rates of marketing campaigns.
2. Predictive analytics and forecasting
AI's predictive capabilities provide insights that enable sales and marketing teams to be proactive, not reactive. A study conducted by Valoria shows that 24% of Romanian companies use AI for predictive analysis. For example, a manufacturing company in Timisoara uses AI to forecast future sales trends and manage its inventory, reducing waste and increasing profitability.
3. Improving customer relations
Conversational robots (chatbots) and virtual assistants using AI have revolutionized customer service. A study conducted by Valoria found that 29% of companies are using AI-powered chatbots to simplify interactions with customers, leading to a staggering 80% improvement in response time. For example, a technology company from Cluj uses such AI conversational bots to answer customers' frequently asked questions, increasing their satisfaction rate.
4. Optimization of marketing campaigns
AI can analyze the success of past marketing campaigns and predict the success of future ones, using factors such as the platform used, the audience reached, the type of content and when the campaign was launched. According to a study conducted by KPMG Romania, 41% of companies say they have used AI to optimize their marketing campaigns. For example, a cosmetics company in Romania uses AI to identify the best moments and platforms to post their ads, which has led to a significant increase in audience engagement.
5. Automation of routine tasks
AI-based technology automates repetitive tasks such as data entry, scheduling appointments, and qualifying sales opportunities, allowing sales and marketing teams to focus on more important and/or strategic tasks.
According to a report by UiPath, Romania is one of the advanced countries in Europe in terms of the use of RPA (Robotic Process Automation), with an adoption rate of 36% in business. For example, a real estate firm in Bucharest used AI to automate its appointment scheduling, increasing operational efficiency.
What skills are needed to get the most out of AI?
Employees need to develop certain skills in order to fully exploit the power of AI-based technologies. Here is the list of the five considered essential:
• AI Knowledge: Understanding the fundamentals of AI, machine learning, and data science will enable team members to effectively use AI-based tools and understand their results.
• Data Analytics: The ability to interpret and use data is crucial to making data-driven decisions and creating effective AI models.
• Critical thinking: The ability to question and interpret AI results and decisions, taking into account potential errors, is important for responsible and effective use of AI.
• Collaboration with AI: As artificial intelligence takes over more routine tasks, employees must feel comfortable working alongside these tools and focus on tasks that require human ingenuity and creativity.
• Continuous learning: This field is constantly evolving. Employees must engage in lifelong learning to stay abreast of the latest technologies and applications.
In conclusion
Artificial intelligence has a huge potential to increase the performance of sales and marketing teams, and some Romanian companies are using this potential. As we become familiar with AI, the adoption of these technologies by sales and marketing teams will increase, paving the way for improved performance, efficiency and productivity. The continued investment and focus on AI-based technologies is a step forward in Romania's digital transformation process, and the benefits are immediate, especially in sales and marketing.
About Valoria
Valoria is a consulting, training, and executive coaching company. Through our services, we help entrepreneurs to grow their business and make success concrete and predictable. Companies turn to us for marketing, human resources and sales consulting. We often respond to requests for training or coaching of management teams. Competence, trust, innovation and passion are the values we uphold in everything we do. We build long-term partnerships and collaborations, because we offer guaranteed results and the best quality, at the right price. In 2022, the Daily Finance publication nominated Valoria in the Top 20 management consulting companies in Bucharest. Find out more at: www.valoria.ro
