I write about the three topics that I am most passionate about; Sales, Marketing and Social Media. These topics are covered from my experiences in outside sales and marketing. My objective is to use my expertise to help business and the individual.
I covered TechDay in New York City at the Jacob Javits Center this past Thursday.
Organizers of the event offered the opportunity to: network with Venture Capitalists, Accelerators, listen to Tech Talks, Fireside chats and pitch your start up. Attendees were able to look for a job or business opportunity with exhibitors and start ups. Entrepreneurs even had the opportunity to audition for SharkTank.
I write about the three topics that I am most passionate about; Sales, Marketing and Social Media. These topics are covered from my experiences in outside sales and marketing. My objective is to use my expertise to help business and the individual.
I covered The AI Summit in New York last week because I wanted to learn more about AI and Machine Learning.
According to Tractica, AI is being implemented globally.
AI and Machine Learning used in many verticals and processes. For example, when I compose an email using GMAIL, I received suggestions on how to finish a sentence. To use the GMAIL suggestion, I can tap the right arrow button on my keyboard.
Think about your routine and your processes, I bet that AI influencers your decisions from where to eat to what to watch.
It is important not to fear AI; use it as a tool to be more productive and live better.
Data Privacy
There are many issues on Data privacy with legislation such as GDPR, CCPA among others. Right now we’re are at the level where AI can understand customer behavior and make suggestions.
AI In the Home
I attended an LG Labs event on AI in the home where it was suggested that companies need to collect more customer data to make better products. To convince customers to provide more data, companies need to provide customers with a ROD analysis or Return on Data. The return on Data should measure customer benefits against the amount of data they are providing. For example, in exchange for providing X amount of Data, we improved our product By Y i.e. increased functionality and better user experience. Think of an ROI or ROAS analysis.
The next evolution for AI is to go from predicting current user intent to future user intent based on user actions. Eventually, AI devices will be consolidated and work cross-functionally.
How AI will impact Sales, Marketing and the Customer Experience
Mark Beccue of Tractica opened up the Sales, Marketing and Customer Experience part of the Summit.
Matthew Quinn of Columbia University shares his insights on AI’s impact on Sales and Marketing.
Companies will not have just Salespeople or Machine Learning in the sales process. Instead, to increase Profits companies will have a hybrid model.
A business’s reason for using Machine Learning and AI is to become more efficient, get better insights and better ROI and profits.
Businesses need to think globally by applying cultural diffusion to their business through localization and language translation.
Marketing
AI will improve Marketing KPIs by allowing brands to measure improve linguistic effectiveness.
Shared by Smith Yewell of Welocalize
Customer Segmentation
Shared by Ranjit Jangam of Comcast
How ML can improve Customer Segmentation Data
AI will improve the customer experience by allowing customers to control their buyer journey with less interaction from the seller.
Shared by Priyanka Tiwari of Interactions.
Conversational AI will help power a self-service model according to Gartner.
What is Conversational AI?
Where AI needs to improve
I want to thank The AI Summit for having me as their guest. If you want to use AI to improve business outcomes, sign up for the AI summit in your city.
What do you think is next for AI?
Comment and share below.
Posted 254 weeks ago
Sales, Marketing & Social Media Today
I write about the three topics that I am most passionate about; Sales, Marketing and Social Media. These topics are covered from my experiences in outside sales and marketing. My objective is to use my expertise to help business and the individual.
When creating a new offering, I would offer a free or low-cost trial of your product to both end-users and industry experts. Consumers look for social proof before they buy a product. If the product is new, then none exists. To lower buyer resistance, you need to make the buyer feel comfortable about their purchase. Offering free or low-cost trials of your product is a great way to build trust and gather feedback. You can conduct market research and product testing using surveys to ask potential customers about their experience.
If your product helps to solve a customer’s problem, they will be happy to share it with others; increasing the chance of converting prospects into paying users. Product testimonials and endorsements help to address product reliability and usability. Customer testimonials build loyalty, brand recognition, and sales for your product.
Loss Leaders
If free or low-cost trials are not something that you can offer, you can use loss leaders. A loss leader is when you offer a product at a loss or break-even point to gain future business. Supermarkets and e-commerce businesses do this when a new product is rolled out.
Another place I saw loss leaders was in dental field sales. Certain customers were loyal to certain types of equipment. When I asked why, they said that these were the tools they used in school and they were comfortable using them. As a result, they did not want to switch. When I called on dental schools and hospitals, I found they were in contract with larger competitors. My larger competitors sold the equipment at cost; practically giving it away. Why would they do this? My competitors were creating life-long customers trained on certain tools who refused to switch.
Connection, trust, and advocacy are essential for customer acquisition. It is your job to turn your customer base into evangelists.
Free, low-cost trials and loss leaders help to increase sales and customer loyalty. The decision on where to offer a trial or use a loss leader is dependent on the specific product, business, and industry.
I’m a Strategic Marketer with Field Sales, Sales Enablement, Content Creation, and, Classroom Teacher/Trainer skill-sets using Marketing to drive Sales/Growth.
As a Marketer, I’ve worked with Start-Ups, a Political Campaign, and a Digital Marketing Conference.
I’m certified in Inbound Marketing with classes in Marketing, Product Management, Product Marketing, SEO, SEM.
Before teaching, I was an Outside Sales and Marketing Rep. selling and marketing dental products to Dentists using consultative selling, trade show marketing, field marketing, and market research.
I publish Sales, Marketing & Social Media Today a blog covering industry events and trends.
