5 Great AI Hacks That Will Grow Your Business

Posted on 1/9/19 9:00 AM by Matt Fish

The growth of artificial intelligence (AI) technology was a hot topic that gripped the world’s business headlines in 2018. Despite its rise in popularity, many organizations aren’t using this rapidly evolving tech in a way that benefits both their clientele and their bottom line.

Discover 5 amazing AI hacks that can benefit your business:

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Experts say that smart speakers, voice search on your smartphone and other forms of artificial intelligence will not only be more common but also more disruptive in 2019. For the majority of businesses, regardless of size, implementing or upgrading their AI infrastructure is a high priority for owners and managers around the world in the new year.

It’s easy to see why there’s such a big emphasis on this ever-emerging tech. From customer service to data analysis to behavioral predictions, there’s no facet of your organization that AI doesn’t touch or can’t improve. In doing so, artificial intelligence has shattered many of the myths that have dogged it since the days of 1960’s science fiction literature and films.

The link between AI and businesses used to be a pervasively negative one:

They’ll fragment my operations.

They’ll widen gaps in communication.

They’ll make my business look, sound and feel less human.

However, based on how consumers are taking to smart tech, nothing could be further from the truth. Not only does automation help managers and their staff construct workflows that are way more efficient with their time and resources but, thanks to AI’s ubiquity on the market, the cost of implementation is considerably lower than it was even 2-3 years ago.

Whether your organization is new to the world smart technology or looking to take that next big step with software adoption, here are 5 great AI hacks that will help you grow engagement and revenue through automation:

 

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1. Significantly Improve Your CRM

One area of your business that will vastly improve due to AI implementation is customer relationship management (CRM).

Since 2017, billions of dollars have been invested in smart technology that helps organizations automate and improve their CRM. Solutions like chatbots and AI-based customer communication means that consumers can get access to the answers they need at any time, from anywhere.

Some of the big advantages of a CRM strategy that leverages AI include:

  • A reduced response time for online queries from clients;
  • The ability for users to find accurate answers or short help articles based on FAQ information;
  • A lesser burden on your staff, allowing them to focus on larger customer experience objectives; and
  • 24/7 availability of all help and customer success resources.

In an era where e-commerce and instant consumer gratification is everything, nailing your online customer experience is a big part of any organization’s long-term success. With AI, you’ll be able to offer your clients unparalleled convenience and ease of access while also giving them the information they need.

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2. Takes Data Analysis to the Next Level

Most businesses are turning to data analysis to refine their prospect-to-customer workflow, broaden their audience and boost their revenue. As such, AI plays a critical role in owning each stage of the e-commerce aspect of your organization.

Raw data means nothing without the proper metrics and goals to measure it by. In turn, getting the answer to a math equation doesn’t grow your business – it’s the insights you take away from those results that make the biggest difference over the long haul.

How does smart technology figure into these plans? Here are just a few ways that AI can streamline your data analysis process:

  • It optimizes the collection, formation and organization of your database;
  • Powerful algorithms make insights more accurate, detailed and keep them up-to-date; and
  • The technology delivers predictions that help inform and enhance your business strategy.

Don’t start the new year off passively and just guess when it comes to your business’ data analysis. Using smart tech can mean the difference between transforming those numbers into actionable knowledge or simply continuing to cross your fingers and hope for the best.

 

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3. Refine Your Marketing Strategy

Once you have that difference-making data, what do you do with it? Most businesses will use that information to improve their marketing strategy and, even if you’re just getting started in the world of AI, this is a great place to start in the short-term.

Whether you’re focused on content-based marketing initiatives through your website and social media accounts or looking to optimize your approach to online advertising, smart technology will allow you to target a much more specific audience and get a higher ROI as a result.

AI’s impact on an organization’s marketing plan is a major one, impacting facets like:

  • Helping you and your staff construct detailed audiences for Google and social media campaigns;
  • Formulate more effective ads that will reach and engage your target audience everywhere online; and
  • Over time, it will also give you a much better idea of buyer personas, which services are more popular than others and so much more.

If you’re looking for an example of an existing platform that uses AI extremely well, then Facebook is Exhibit A. Love them or hate them, Facebook’s smart technology helps organizations like yours stand out in an increasingly cluttered advertising ecosystem.

Automation should be every owner, manager or employee’s new secret weapon for marketing – accept no substitutes.

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4. Consistently Hire Smarter

AI is not simply an emerging solution for many inefficiencies in HR and recruitment departments – it’s a runaway freight train that continues to disrupt many organizations around the world.

According to Forbes, new technology is expected to replace nearly 20% of HR jobs over the next decade. It’s easy to see the appeal of this shift for owners and managers everywhere. Benefits of an AI implementation for your next hiring push include:

  • An automated screening process that drastically reduces the time need to sift through a huge pile of resumes;
  • Algorithms that can scour LinkedIn profiles to determine who has the skills or experience you need;
  • Machine learning that can adjust your current recruitment process based on what’s worked or not in the past; and
  • Spot inaccuracies in work history, education and other details to ensure candidates are being truthful with your staff.

It’s no secret that any great business needs the right personnel to grow, evolve and thrive in both their local market and the larger world of e-commerce. By using AI technology as the force quarterbacking your hiring efforts, you can use your time and resources to their fullest potential.

 

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5. Optimize Your Day-To-Day Operations

Speaking of keeping things efficient, let’s end off with AI impacts the most important part of your organization – your day-to-day to-do list.

Let’s be honest: Many human beings (including myself) aren’t 100% organized every day of the week. If you’re not careful, a hectic schedule and intimidating workload can lead to more mundane or tedious tasks taking a back seat and, in some cases, not getting done at all.

Smart technology can help shrink that gap and help you and your staff make the most out of the limited hours you have at your disposal every day. Some crucial aspects of your day-to-day that will benefit from the use of AI are:

  • Accounting and bookkeeping, with live-updating that help you keep all your financial information organized in one dashboard or database;
  • Staff scheduling, by using tools that ensure the right person will always be in the right place at the right time(s); and
  • The development of optimized workflows using machine learning that gets the most out of all your resources.

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As with any new addition to your collection of digital tools, entrenching AI software deep into the inner workings of your business can feel daunting or a near-impossible feat for many managers or entrepreneurs. Just remember: This is an investment in the long-term growth and prosperity of your organization.

In other words, the short-term bumps in the road you may experience will all be worth it.

In that same vein, it’s also important to realize that taking advantage of different AI tools, especially if they haven’t saturated your industry yet, can help set your organization apart from other options consumers have in your community. Being unique, instead of worrying about other businesses passing you in the fast lane, is one of the lasting hallmarks of true success.

 

For more practical tips that can help take your next marketing campaign, business development deal or overall operational approach up a notch, make sure you listen to our brand-new online show, “The Small Business Tips Podcast.”

With new, in-depth interviews each week, I work through some of the biggest questions facing entrepreneurs today and unearth some amazing insight that even seasoned business professionals can find value in. Subscribe, share and stream on your podcasting platform of choice, including Spotify and Apple Podcasts, now!

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