Top AI in Sales Statistics
- With a purpose to enhance internal operations and client experiences, 57% of essentially the most successful sales firms employ AI.
- The fundamental growth area for sales is the adoption of AI, which is increased by 139% by 2022.
- The efficiency of sales reps is increased by not less than 27% when administrative and time-consuming duties are automated.
- A 60%-70% decrease and a 40%-60% reduce costs in call time were seen by businesses employing AI for sales.
- Marketing and sales techniques that use AI and other kinds of analytics could access $2.6 trillion in value every 12 months.
- Lead generation increased by as much as 50% using AI algorithms.
- In accordance with 79% of the organizations surveyed, AI has helped their marketing and sales teams generate revenue by a minimum of 5%.
- 87% of those that have used AI need to use it further to boost email marketing and supply precise sales projections.
- Only a tiny portion of marketers—17%—plan to employ AI of their marketing, in comparison with almost half of companies (61%) that want to incorporate it of their sales forecast.
Market Size of AI in Sales
The worldwide marketplace for sales intelligence, which was previously anticipated to be value US$2. 6 billion in 2020 but has now been updated to US$5. 4 billion by 2027, is predicted to rise at a CAGR of 11 (Globe Newswire)
In the USA, the marketplace for sales intelligence is anticipated to succeed in US$703.9 million in 2020. It’s anticipated that China, the world’s second-biggest economy, may have a market size of $1.2 billion by the 12 months 2027, with a compound annual growth rate (CAGR) of 14.4% for the period of study spanning the years 2020 to 2027. Japan and Canada are two more notable international markets, with growth rates of seven.7% and 9.6% for the period of 2020–2027, respectively. Whereas, Germany is predicted to have grown inside Europe at a CAGR of around 8.7%.
Impact of AI on Sales
Firms are using artificial intelligence (AI) to extend lead volume, raise closure rates, and significantly enhance total sales productivity. That is in order that a big portion of the sales cycle may be automated and enhanced by this technology. Sales representatives can now freely think about what really matters: making the sale.
Businesses utilizing AI for sales were in a position to enhance their lead generation by greater than 50%, decrease call times by 60–70%, and reduce costs by 40–60% (Harvard Business Review)
Research that was published within the Harvard Business Review indicated that companies that used AI for sales were in a position to obtain cost savings of between 40 and 60 percent, a rise in leads of greater than 50 percent, and a decrease in call time of between 60 and 70 percent.
Where is AI utilized in Sales?
Actually, AI has the facility to make every part smarter, from advertisements to content. As a consequence, highly developed AI is able to analyzing customer and prospective data, identifying the prospects who’re most certainly to convert, advising on essentially the most crucial sales steps to take, forecasting outcomes, price optimization, and a plethora of other tasks.
Almost one-fourth of sales teams presently employ AI of their every day operations (Salesforce)
Apart from customer support, several firms’ sales sectors use artificial intelligence of their every day operations. AI is being embraced by the sales force the fastest of another technology.
The marketing and sales sector places 40% more emphasis on AI and ML for market revenue performance than the remaining of the sectors (Forbes)
For this reason, AI marketing businesses, customer support roles, and sales teams depend upon process automation with a purpose to enhance their market revenue share.
A growing variety of B2B marketers—64% as of now—view AI as helpful to their sales or strategy (Momentum Data)
If one examines enterprises as an entire, 83% see AI as a top priority for his or her current strategy. It is obvious that sales representatives need to begin adjusting their abilities to those developments in consequence of this rising belief and the greater emphasis on integrating AI into corporate operations, either in sales or marketing. That is shown by the indisputable fact that 36% of CEOs think that the fundamental objective of AI is to liberate people’ creativity of their work by automating tedious chores.
How is Artificial Intelligence Transforming Sales?
In accordance with studies, salespeople spend roughly 34% of their time actually closing deals. This issue is resolved with AI for sales, which automates routine, repetitive office duties. Salespeople now have more time to devote to their duties. This entails fostering connections and offering prospective answers to their concerns. AI for sales is leveling up the entire process along with making it simpler to shut deals. from basic touches, automatic lead follow-ups, and live interaction.
AI may help sales by automating labor-intensive processes, reclaiming sales representatives’ time, and increasing their productivity by not less than 27% (People.ai)
Other ways in which AI may assist in sales include:
- Reduce using manual data input and promote using Customer Relationship Management systems
- Permit sales coaches to ascertain precise objectives and monitor representatives’ activity levels and advancement
- By offering real-time pipeline evaluation to advertise predictive forecasting
61% of all respondents claimed to be using or planning to utilize AI for sales forecasting (Statista)
The graph below depicts the proportion of companies which have adopted or intend to implement certain AI use cases in 2017. Sixty-one percent of participants indicated they either utilized AI for sales forecasting now or planned to accomplish that in the long run. 87 percent of people that were currently using AI for adoption reasons stated they were using or contemplating utilizing AI for sales forecasting.
| Share of respondents using or planning to | ||
| Categories | All Respondents | Current AI Adopters |
| Sales and marketing lead scoring | 66% | 83% |
| Sales opportunity scoring | 63% | 80% |
| Sales forecasting | 61% | 87% |
| Customer support case classification/routing | 59% | 83% |
| Chatbots for customer support or product selection | 47% | 75% |
| Cross-selling and upselling | 51% | 68% |
| Fraud detection | 57% | 64% |
| Credit risk scoring | 55% | 61% |
| Email marketing | 74% | 87% |
Advantages of AI in Sales
In accordance with 79% of survey participants, using AI in marketing and sales has boosted company profits (McKinsey)
AI could make marketing and sales teams simpler and help them complete more contracts by automating monotonous operations and analyzing client data. Machine learning methods might also be utilized for customer behavior predictions, sales planning, and finding useful insights.
56% of consumers actively hunt down deals with businesses they consider to be essentially the most revolutionary (Salesforce)
Yes, buyers commend businesses that include AI of their company descriptions in an effort to draw more leads or investments. Nevertheless, applying AI to real use cases inside your small business which can be evident within the interactions you will have with leads throughout sales might end in an enormous acceleration of growth.
Way forward for Artificial Intelligence in Sales
By the 12 months 2025, 75% of B2B sales organizations will use a mixture of artificial intelligence and traditional sales solutions (Gartner)
Gartner’s research from the previous 12 months showed that B2B corporations are already adjusting to the requirement for hybrid AI selling solutions. Lots of the regular components of ABM and B2B sales could also be handled by AI. It also offers practical advice for salespeople who make the human connection crucial to follow up with or make a sale to a properly nurtured lead.
Eighty-seven percent of currently AI-using corporations need to use AI for sales forecasting in the long run (Techsur)
Techsur estimates that roughly 90% of corporations using AI have dedicated systems in place to put it to use for predicting sales. One in all the early industrial uses of AI was sales-trend forecasting or anticipating which items would wish greater stock before seasonal periods and holidays.
AI in Sales Statistics Final Words
So, these are the newest AI in sales stats and just a few real-world examples of how artificial intelligence is becoming more prevalent within the context of sales. Don’t panic, salesman; although these statistics may not indicate that you’re going to soon get replaced by a robot, they could indicate that your department has to make some changes with a purpose to sustain with the singularity’s progress.
References
- 10 artificial intelligence statistics you have to know in 2022 [Infographic]. (2022, March 14). Oberlo | Where Self Made is Made. https://www.oberlo.com/blog/artificial-intelligence-statistics
- The state of AI in 2021. (n.d.). McKinsey & Company. https://www.mckinsey.com/capabilities/quantumblack/our-insights/global-survey-the-state-of-ai-in-2021
- 26 sales statistics that prove sales is changing. (2017, November 15). Salesforce Blog. https://www.salesforce.com/content/blogs/us/en/2017/11/15-sales-statistics.html?bc=OTH
- Gartner predicts 75% of B2B sales organizations will augment traditional sales playbooks with AI-guided selling solutions by 2025. (n.d.). Gartner. https://www.gartner.com/en/newsroom/press-releases/gartner-predicts-75–of-b2b-sales-organizations-will-augment-tra
- Developer. (2021, October 1). Artificial intelligence: The advantages for the corporate in 2021. TechSur. https://techsur.solutions/artificial-intelligence-the-benefits-for-the-company/
- 10+ essential AI statistics you have to know for 2023. (2022, December 16). Tidio. https://www.tidio.com/blog/ai-statistics/
- Artificial intelligence: 10 statistics about AI in marketing and sales. (2020, August 12). Momentum Data. https://momentumdata.com/10-statistics-showing-the-emergence-of-ai-in-sales/
- Only a moment (2022). Only a moment.. https://www.g2.com/articles/artificial-intelligence-statistics
- 10 recent findings reveal how sales teams are achieving success now. (2022, December 9). The 360 Blog from Salesforce. https://www.salesforce.com/blog/15-sales-statistics/
- 25 artificial intelligence statistics [2022]: Key facts about AI and the AI industry. (2022, November 9). Zippia – Find Jobs, Salaries, Firms, Resume Help, Profession Paths and More. https://www.zippia.com/advice/artificial-intelligence-statistics/
- Global specific AI use case adoption 2017. (2017, June 1). Statista. https://www.statista.com/statistics/737865/worldwide-specific-ai-use-cases-2017/
- White, T. (2022, April 13). The way to use AI for sales to spice up your bottom line. People.ai. https://people.ai/blog/6-ways-companies-are-using-ai-for-sales-to-become-more-efficient/
- Only 17% of email marketers planning for AI, greater than half will innovate with automation. (2019, April 30). Econsultancy. https://econsultancy.com/only-17-of-email-marketers-planning-for-ai-more-than-half-will-innovate-with-automation/
- (n.d.). Yahoo Finance – Stock Market Live, Quotes, Business & Finance News. https://finance.yahoo.com/news/global-sales-intelligence-market-reach-131000569