Businesses aren’t always prepared for unexpected events, especially small businesses and startups. This became evident when the COVID-19 pandemic struck.
In fact, a report says that 41% of African American businesses in the United States have failed because of the COVID-19 pandemic.
Some companies have survived or even thrived during the pandemic because they embraced artificial intelligence (AI) and adjusted their business models.
From increasing sales to improving the customer experience, AI technology plays an important role in sustaining businesses in the new business environment.
Here are five ways AI can help your business thrive and succeed in the ‘new normal’.
1. AI shortens sales cycles
AI tools and applications can efficiently handle a variety of repetitive tasks. It frees your sales reps from these mundane tasks and focuses on those that generate income.
At the same time, AI tools and applications provide valuable feedback to your marketing and sales teams to streamline your sales funnel while increasing conversion rates.
Take the case of MovingApt.
Most moving companies would only provide website visitors with a price range for their services. For this reason, many customers should call or email the company for an estimate.
MovingApt realized that it had to provide potential customers with an easy and convenient way to get a quote. They decided to add a moving expense calculator to their site. This dramatically shortened its sales cycle and resulted in more customer bookings.
2. Improve the customer experience
The overall experience that your website visitors get can make or break your chances of converting them into customers.
This is because they don’t have the same level of patience and understanding when shopping online. One way to make sure you’re giving your customers the best user experience is to make sure your website loads really fast.
Studies show that customers expect your website to load in three seconds. If your website takes longer to load, potential visitors to your website won’t hesitate to leave your site.
You also need to make sure that the UX design of your website makes it easy for your visitors to navigate your website no matter what device they are using and move down your sales funnel faster.
3. Provide more efficient customer service
Customer service is essential to the success of any business. Customer satisfaction depends on how quickly and efficiently your business can meet the needs of your customers.
Live chat or AI powered chatbots boost your customer service efforts by implementing smart routing and reducing wait time. As a result, issues and problems are resolved faster and more efficiently.
Social media management tools like NapoleonCat help businesses manage customer service by monitoring and moderating comments and responding to queries on your Instagram, Twitter, Facebook, and LinkedIn pages.
You’ll likely retain loyal customers and build positive brand awareness by solving customer issues with quick responses to your social media accounts.
4. Increase remote workforce productivity
The COVID-19 pandemic has forced companies in all sectors to abruptly adjust the way they operate. This included providing their employees with more flexible working arrangements such as remote or hybrid working.
While this change has kept many businesses afloat, it has not been without challenges. One of them makes sure that their employees are working, especially if they are paid by the hour or by project.
AI-powered tools and applications can help track and monitor the activities of your employees to ensure they are getting the job done during working hours without risking invading their privacy.
5. Launch more effective marketing strategies
Marketing teams are sometimes faced with limited resources, a lack of creativity and outdated marketing methods. AI offers a solution to many of these problems by automating certain repetitive tasks, generating creative ideas, and providing actionable insights.
AI can improve content creation and writing by using data points and increasing search rankings and engagement with your target audience.
Frase is a prime example.
Frase guarantees that your content is original and free from spelling and grammatical errors. It also provides content creators with keywords to include in the article and how often they should be used.
As small business owners continue to reap the benefits of integrating AI into their businesses, we can expect this trend to continue into the new normal. That doesn’t mean business owners need to rely solely on AI technology to thrive in this new reality. After all, AI tools and applications are exactly that: tools and applications.
For your business to thrive in today’s environment, it is essential that you provide a positive user experience for your customers. It starts from your website to your customer service.
You will also need to make sure you take care of your employees. This is especially true if they have recently switched to remote working. Provide them with the tools they need to stay productive. At the same time, make sure they take steps to achieve a healthy work-life balance.