If you’re tired of spending long hours on redundant tasks for your small business firm, it’s time to adopt AI or artificial intelligence.
Not only will it perform the complex tasks requiring human intelligence, but also it will streamline the work processes within your company.
According to the Small Business Now Report, 91 % of small businesses incorporate AI into their daily tasks. It has enabled them to gain the desired traction.
Do you want to achieve organizational goals with AI like the other businesses did?
If your answer is YES, it’s time to leap into the endless opportunities of AI.
4 Reasons Why Small Businesses Should Consider AI?
Gone are the days when AI was just considered for big companies. It’s much more prevalent for the growth of small businesses, too, by letting them compete with the other companies. Also, the incorporation of AI makes the operations smooth while maximizing returns. Look at the following reasons to get an idea:
Enhanced Efficiency- With redundant task automation, AI can save small business owners time. As a result, the team across various departments can focus on essential tasks. This can lead to 3X better productivity and better usage of resources. For example, AI can automate daily tasks, including invoicing, data entry, and inventory management. This will enable business owners to focus on strategic developments rapidly.
Improved Customer Experience- one classic example of how AI is helping to improve customer experience is the AI-enabled Recommendation System for e-commerce websites. The System recommends customers products that match their preferences. Hence making a better purchase experience for the customers.
Competitive Advantage- AI can offer small businesses a competitive advantage by providing valuable insights. This will help the team to incorporate accordingly to develop profitable strategies. One example is a lower cost structure, which offers lower prices of particular products/services to its consumers than its competitors without compromising quality.
Better Decision Making- Artificial Intelligence can assess significant amounts of data to provide insights. This helps small businesses to make better decisions. For instance, AI-fueled analytics tools can identify trends, predict customer behavior, and optimize pricing strategies. This can help businesses to make more data-driven decisions.
What are some of the AI Applications for Small Businesses to Use in 2024
From enhancing customer service to strengthening marketing and sales, AI offers strategic advantages to small businesses. To reap the benefits of artificial intelligence for your small business, incorporating the application will enable you to maximize organizational growth. Here you go-
1. AI-Based Website Personalization
Increasing customer engagement and driving more conversions is the core objective of small businesses. On that note, personalization on a business website is pivotal in driving potential conversions efficiently. Small businesses are doing the same through various procedures:
Product/service recommendation- Based on customer data, businesses recommend products/services to customers that align with their requirements. Machine learning algorithms are used for these recommendations based on their browsing/purchasing history.
Welcoming Visitors- Some small businesses greet visitors by name once they log in to the website. This creates value in the user’s mind and increases future engagement chances.
Location-Specific Content- Businesses that serve multiple locations use personalization to show users location-specific content. This increases relevancy and makes the customer connected to the business.
Personalized CTAs- Most small businesses face the challenge of attracting new customers. On that note, AI is helpful to them by creating personalized call-to-actions tailored to fit the unique needs of any specific customer.
What are some Renowned Brands Leveraging the Power of AI-Based Website Personalization?
Netflix uses ML algorithms to offer personalized content recommendations for each user. Also, Amazon utilizes AI-fueled recommendation engines to suggest products to customers based on their purchase behavior and browsing history.
2. Data-Based Supply Chain Management
Businesses have a lot to deal with logistics and inventory management, including route optimization, resource management, intelligent tracking, etc. With AI-fueled automation solutions, small businesses are reinforcing their logistical procedures.
The supply chain operations of any business generate a significant amount of structured and unstructured data every day. The data analysts evaluate the data to predict accurate capacity and forecasting, enabling the companies to handle the logistic section proactively.
What are some Renowned Brands Leveraging the Power of Data Based Supply Chain Management?
Procter & Gamble utilizes the power of data analytics for various supply chain operations, including tracking inventory levels, optimizing inventory routes, and reducing waste. Walmart incorporates the latest data analytics process to optimize the supply chain, forecast demand, and manage inventory levels efficiently.
3. Chatbots
Whether it’s booking an appointment or generating a complaint, consumers prefer to receive the resolution at its earliest. According to Oracle, 8 out of 10 businesses have already incorporated AI chatbots as customer service solutions. It encompasses multi-tasking and providing fast replies to customer queries. Customers can communicate with AI-powered bots with simple text or voice commands faster and more accurately.
Implementing these bots frees employees from answering redundant queries and reduces average customer handling time by automating repetitive questions. This leads to improved customer satisfaction, facilitating business growth.
What are Some Renowned Brands Leveraging the Power of Chatbots?
Pizza Hut, a reputed pizza brand, has a chatbot on X handle and Facebook Messenger. This bot enables the customer to order pizzas and track deliveries. Also, the chatbots can handle customer queries efficiently while providing them with necessary solutions.
CNN, a news network, has a chatbot on its Facebook platform. This provides personalized news updates to the users according to their preferred choice of news topic.
4. Voice Search Optimization
This technology enables users to query online by speaking to a device like a smart speaker or a smartphone. According to Location World, 40% of adults use voice search at least once daily. Cortana, Siri, and Alexa's increasing popularity make users speak instead of typing to use their respective devices. As a result, small businesses are introducing voice search on their websites.
Various tools and services enable businesses to optimize their websites for search. For instance, Google Search Console can help small business owners detect and fix issues with the website’s voice search optimization. Additionally, it provides valuable insights to help the team understand how the users are using voice search.
What are some Renowned Brands Leveraging the Power of Voice Search Optimization?
Spotify has added voice search functionality to its mobile application. Users can search for songs, artists, and albums by using voice commands.
BMW has integrated voice search capabilities in its various models. This allows drivers to control multiple features like entertainment, navigation and climate control using voice commands.
5. AI-powered Marketing
There is no room for denying the fact that marketing is more than buzzwords. With AI-based marketing, small business firms are taking the game to new levels. On that note, AI-powered marketing tools help leverage data so marketers can curate personalized ideas for the target audience.
Not only that, AI reduces time in the research process. This enables the marketers to concentrate on other tasks to maximize the marketing effort. For example, based on customer demographics, AI-fueled marketing tools can be used for social media management, content creation, etc.
What are some Renowned Brands Leveraging the Power of AI-powered Marketing Tools?
Coca-Cola utilized AI-powered marketing to enhance advertising campaigns. Sephora uses artificial intelligence to improve its marketing campaigns.
Wrapping It Up
If you’re concerned about incorporating cutting-edge technologies and their cost, Danip Technologies is here to help. We understand your budget constraint as a small business and respect the same. Our experts are ready to assess your business requirements and will pitch the ideas accordingly to fit your expectations. Ready to schedule a call and discuss this? Let’s make your small business stand out from the rest!