AI: The key to unlocking Product-Led Sales Potential
As traditional sales funnels are becoming less effective in today's customer-centric world, businesses seek innovative ways to engage with customers and drive revenue growth. Product Led Sales (PLS) has emerged as a robust new sales methodology where the product is the primary driver of growth, and the sales team is focused on providing value and support to users rather than trying to persuade them to buy. When combined with Artificial Intelligence (AI), Product Led Sales becomes even more effective and can help businesses grow faster, more efficiently, and sustainably.
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But how can Artificial Intelligence (AI) help with this new sales model?
By analyzing large amounts of product usage and ICP data quickly and accurately, AI can enable sales teams to make better decisions about which companies to target and how to engage with them. AI can also help automate specific sales processes, allowing sales teams to focus on building customer relationships.
At a high level, three aspects make up Product-Led Sales:
- Identifying Key Signals and prioritizing outreach
- Taking action
- Measuring the outcomes and fine-tuning the process
Let's look at how AI can benefit these three aspects.
Identify Key Signals and Prioritize Outreach
To effectively target potential customers, it's crucial to identify key signals indicating they find value in your product. AI can help suggest signals to track out of the box and fine-tune these models by including product and business-specific signals.
Scoring customers based on the signals helps prioritize outreach and enables Sales teams to focus their efforts on the most promising leads.
Additionally, AI can compute the propensity to buy based on a customer's product usage and purchase history, allowing sales teams to tailor their approach to each customer.
Take Action
AI can help sales teams take action by recommending sales plays based on key signals. This can help sales teams quickly and efficiently engage with potential customers, saving time and improving the customer experience.
Additionally, AI can provide a daily digest of exciting companies and people with a summary, enabling sales teams to stay up-to-date on potential opportunities.
Personalized email generation is another area where AI can help, allowing sales teams to send targeted and highly relevant emails to decision-makers and end users.
Measure and Fine-Tune
Finally, AI can help sales teams measure and fine-tune their approach. By enabling experimentation with plays through A/B testing, sales teams can determine what works best and optimize their practice over time.
Feedback loops from reps, in the form of thumbs up or thumbs down on recommendations, can provide valuable insights into how AI can improve the sales process.
Additionally, AI can auto-tune models by correlating scores and actions to outcomes in the CRM.
In conclusion, Product Led Sales is the future of sales, and AI is the perfect complement to this model. By prioritizing the product experience and leveraging AI, businesses can improve customer satisfaction, increase retention rates, and drive revenue growth. As the sales industry continues to evolve, it's clear that Product Led Sales and AI will play a significant role in shaping the future of sales.
We’d love to hear you take on this topic. Reach out to me via email (hari@trygroundswell.com) or find a time on our calendar.