Almost everywhere you look today, the use of generative artificial intelligence (AI) is present. According to this year’s GoDaddy Global Entrepreneurship Survey, 94 percent of respondents reported that digitalization has already noticeably improved work processes in their small businesses. GoDaddy shares some ways AI technology tools can help increase efficiency for small businesses.
AI can be a powerful tool for small businesses, whether they want to: streamline your workflow through process automation; improve decision-making; gain a competitive advantage in your industry; ensure a better customer experience; or create a beautiful professional business site easily and quickly.
With its ability to automate tasks, analyze data and provide insights, AI has the potential to level the playing field. Now even smaller companies can compete with larger companies.
The applications of artificial intelligence will continue to evolve in the coming days, months and years as the technology advances. But it is important to think about it strategically and in advance.
Here are three ways artificial intelligence can benefit your business
Automate time-consuming tasks
By automating repetitive and time-consuming tasks, small businesses can save time, reduce costs and increase productivity. This can lead to better customer engagement, more growth and better overall business performance. For example, you can use AI to automate business processes such as data analysis, invoicing, and other administrative tasks that you use in your business. It can also help reduce errors and improve data accuracy, leading to better decision making.
This in turn can help give you more time to focus on your business development and foster better customer relationships. AI can help companies improve their customer service by automating interactions through chatbots and virtual assistants. These tools can help customers with common questions, such as product information and troubleshooting. This in turn gives customer service agents the space to deal with more complex issues. All this can lead to shorter response times, higher customer satisfaction and greater loyalty.
AI-powered marketing tools, such as GoDaddy Airo Digital Marketing, can help improve marketing efficiency by automating repetitive tasks such as sending email campaigns and sharing posts on social media.
Provide better insights
By analyzing customer data, AI can provide insights into customer preferences and behavior, allowing companies to tailor their emails and advertisements. AI’s ability to analyze massive amounts of data is another key benefit for small businesses. It’s easier to collect and analyze data from multiple sources, including social media, customer interactions, and sales data, to help understand what your customers like and don’t like.
For example, using AI in business can help improve operational efficiency by automating data analysis that once took hours. This can give you or your employees time to focus on customer service or product development. Additionally, AI can help you identify potential areas for cost savings by analyzing data related to supply chain management, inventory management, and manufacturing processes.
Data-driven lead generation to reduce costs
Imagine training an AI tool with your website traffic and behavior, along with lead data from your customer relationship management (CRM) tool and social media feeds.
Such an AI tool can analyze all that data to better understand your target audience and their preferences and the message that can help drive the actions you would like them to take. It will be able to learn and adapt with each website visitor, producing increasingly effective messages to more efficiently turn a website visitor into a lead and potential customer.
With the ability to learn from new inputs, such as adding leads into your CRM, it can analyze historical data and put each lead into context, saving costs on marketing plans.
Introducing AI to your small business doesn’t have to be difficult. The key now is to inform yourself and your employees about the opportunities and available applications of AI. Ensure data is collected and used responsibly and ethically, with appropriate security measures to protect sensitive data. Start small and go from there.
See also: Artificial Intelligence has become a general purpose technology – Olubayo Adekanbi
