Artificial intelligence and machine learning are becoming two of the most powerful pillars of digital transformation for businesses worldwide. If we disregard some of the more fevered perceptions of our machine overlords, AI today is finding its way into mainstream services offered by internet giants that handle billions of users on a daily basis. Google, Amazon and Facebook are some of the noteworthy names in the industry. In fact industry watchdogs like Gartner predicts that by 2020, over 85% of customers will manage their relationships with the businesses they choose without a human point of contact.
At the same time, is AI only for the big names in the online world? Certainly not! Today, there are a gamut of tools and services that offer AI powered capabilities that any business big or small can utilize to improve their internet outreach and business prospects.
One of the biggest areas where businesses struggle in their internet presence is converting leads to deals. Over 90% of people who search for a product or service offline will not have a brand fixed in their mind. So, if their search lands on your website, how often does it get converted into a business deal or sale? In other words, how much do you spend to convert a lead into a deal?
Studies show that for very $92 spent drawing visitors to a website only $2 is spent on areas that help to convert them to customers. As a business owner or executive, this is a paradigm that needs to change. If you need some areas investment in 2019 to improve your website conversions, AI should be on the top of your list.
Here are 5 ways in which artificial intelligence can bolster your online sales and presence by aiding the conversion of leads into fruitful business deals.