In this episode find out how customer satisfaction (CSAT) scores can be negatively impacted when customers have to switch channels in order to get the answers they want from you company.
Summary: In this episode of the Sales Influence podcast I answer the often asked question, "What prompted you to go into sales?"
This short film is a follow-up to my award-winning documentary "The Motivator". Come back stage with me as I share with you what goes on. I think you'll find it fascinating!
Imagine feeding known data into a black box and then analyzing the output. When you didn’t get what you wanted, you simply adjusted a few knobs on the box and fed it a different data set and monitored the output again. You would repeat this process of adjusting the knobs on the box until the black box gave you the output you expected. This is what is called ‘supervised learning’ in the world of Machine Learning (ML) a subset of Artificial Intelligence (AI).
Once the box did give the expected outputs, it is considered ‘trained’. This finely tuned black box can now be used to predict the output of other data sets.
In sales, imagine feeding a similar black box information on past customer purchases. After a few iterations and fine tuning of the knobs, the black box would be able to ‘predict’ who is more likely to buy (i.e., customer personas) and what are they most likely to buy (i.e., upsell or cross-sell).
Upselling is the sales act of getting a buyer to buy a more enhanced version of what they’re currently ready to purchase. If they’re at fast food place ready to order a burger, you should ask you if they want to make it a double. If they’re buying a laptop computer you want to sell them a bigger screen size, more storage, more RAM, or faster processor. Once a customer has made a commitment to buy the ‘basic’ version, the goal is to upsell the buyer on a better version.
Cross-Selling is the sales act of getting a buyer to buy other products (or services) that complements what they’re currently ready to purchase. If they’re buying a double burger, you’re going to suggest adding an order of fries and a soft drink (i.e., combo meals imply savings when compared to buying items individually). In the case of buying a computer, you may want to suggest that they add a computer bag, screen privacy filter, software applications, LED projector, or tablet to the overall order.
The phrase Predictive Analytics is to a large extent self-explanatory; use analytics to predict future behavior. For what purpose and to what end? To anticipate customer needs or behavioral changes with the objective of gaining new customers or retaining existing ones.
The starting point of using Predictive Analytics is data; more specifically the quality and completeness of your data. Quantity does not necessary equal quality. Being able to capture pertinent data is always a challenge. Good data Matters. The old adage of GIGO, Garbage In Garbage Out still applies.
Summary: This week on the AI in Sales podcast I speak with Roy Raanani, CEO and Co-founder at Chorus.ai. Chorus's AI platform improves customer conversion rates by recording, analyzing and garnering insights from conversations with prospects or customers.
In this podcast, Ray talks about the revenue impact of client conversations and how conversations should be viewed as a corporate asset.
He also shares some fascinating insight on how to deal with potential clients who bring up your competitor in a conversation. What does it mean and what should you do.
All this and a shocking statistic on how much conversational data is actually captured in a CRM.
New Documentary premiering November 1st and see shat it's like to be an international speaker and coach!
Summary: This week on the AI in Sales podcast I talk with Chris Orlob of Gong (http://www.Gong.io) as we discuss using artificial intelligence to enhance and make more effective, sales conversations with clients. Chris gives us a peek to what Gong is doing to change how salespeople converse and engage clients in today's market. All this and an interesting study on the use and timing of the words "We" versus "I" in a conversation.