"SeeAlgo was able to understand our sales challenges and quickly deliver a high value AI solution for us. Our sales performance as measured by key metrics has significantly increased since we became an AI integrated sales function."
VP of Sales
A mid-size B2C business with average transaction price of several hundred dollars had added online sales several years ago by investing in an online catalog and digital marketing. The company had added basic computing and internet training for its existing sales staff. The online channel has been a significant source of leads and transactions but increasing online competition has eroded profit margins. Conversion metrics for lead to sale were not increasing but costs for lead generation had gone up. There was a need to increase conversion for the leads while maintaining or reducing sales staff costs.
Using text analytics on email conversations between sales staff from initial contact to final sale, SeeAlgo was able to train and implement a machine learning sales support model that provided customized communication suggestions in terms of not just the text but also the day of the week, the time of the day, and the communication method to increase conversions. The company’s internal marketing knowledge of buyer personas and patterns was used as the basis for the model. The model has the ability to be updated periodically to incorporate new communication data.
This continuous learning feature of the SeeAlgo solution allows automatic recognition and integration of any changes in customer and industry trends as well as broad macroeconomic conditions. The investment in augmenting the sales process with a lean yet extremely insightful machine learning system has increased conversion rates while reducing the costs per conversion for sales staff. The company is currently evaluating an automated bot for handling routine interactions with leads. There is potential to use the bot model in the traditional sales to lead emails to further reduce conversion costs. Due to recent advances in cloud based machine learning services from Google, Microsoft, and Amazon, mid-size businesses unable to hire their own PhD data scientists and AI experts can still rapidly implement and benefit from low cost, high return integration of machine learning and AI algorithms in their sales and marketing work flows.