By Ashish Dwivedi SugarCRM, which showcased us the top-notch CRM (Customer Relationship Management) software and a time-aware CX (Customer Experience) platform has now launched SugarPredict. It is a data-driven AI (Artificial Intelligence) for SugarCRM users. As of now, the key purpose of this new technology is to eliminate guesswork from business activities like Sales and Marketing.
A recent study conducted by SugarCRM suggests that more than half of businesses are witnessing a decline in their revenue. One of the major reasons discovered for this was the inability of sales professionals to identify which and when their Customers and Leads are going to churn. SugarPredict is something that can bridge the gap between a company and its customer’s information.
Unlike any other AI-based CRM, SugarPredict does not need a technical expert team and resources. It is capable of working on its own and in spite of that, it can provide some serious and accurate predictions. Without delaying anymore, let’s see the absolute competence of SugarPredict.
Unleash your Business Potential with AI-Powered Tech
Anticipating what customers mean to your business in the future is very difficult or nearly impossible. But what if we say, it is possible to see the future and how your business will perform in the coming times. The AI-based SugarPredict has the potential to reshape your business with its remarkably accurate predictions. And, for this purpose, you don’t need to buy big data from any third-party service providers. The USP (Unique Selling Proposition) of this is to work efficiently well under the limited resources.
A CRM software is the hub of customer data and most businesses are not completely capable of utilizing this pile of information. In fact, they are just able to barely scratch the surface of the data iceberg. SugarPredict leverages the information that was initially missed by the users. However, it is also suitable for analyzing the data from external resources and providing you with some unseen insights and facts.
For example, it can show you which leads are most likely or less likely to convert into future clients. You can use this pioneer data to make more confident decisions and accelerate the growth of your business exponentially.
Key Features of SugarPredict
You can see the results of this AI engine immediately after activation and implementation. You’ll witness a significant upsurge in sales and lead conversion as well. SugarCRM has said in its report that SugarPredict is 80% more accurate than the traditional rule-based system. Let’s have a look at some features that you can get with this platform.
Grab more opportunities than ever before: This will help you in reading between lines i.e. you will have access to the unique patterns and trends. This is because of the perseverance of SugarPredict, which is one of the key traits of AI technology. Also, you can see these reports directly into the Sugar product that you are using.
Upsurge the sales number: As we mentioned earlier, this platform can tell which leads are more likely to be converted into potential customers. So, you can use this data to prioritize those leads that can drive sales, instead of exhausting resources on probably lost leads. This will not only improve the overall productivity but also help you get an edge over your competitors.
Target more opportunities: If you don’t know opportunities are similar to qualified sales leads. Just like predicting the value of the leads, SugarPredict is also capable of identifying the best opportunities for your business. This is important when it comes to customer retention, deals in bigger volumes, and creating ideal customer profiles.
Accurate Sales Pipeline Predictions: Not just leads and opportunities, the users will also get a comprehensive visual of sales pipeline predictions as well. It will result in better forecasting. In addition to this, every member of the sales team will also get a complete view of the customer’s history and crucial insights for better research and analysis.
Unparalleled Benefits of SugarPredict
Now you are aware of the features it’s time to learn how exactly SugarPredict is going to benefit your business growth. Because at the end of the day, what matters most is how much revenue a company has generated.
Risk Management, Accurate Decision Making, and Time-Saving: Earlier we said SugarPredict provides an in-depth history of customer journey and sales pipeline. This will enable users to assess and manage the risk and make decisions based on the risk factor. Besides that, opportunities handling will also improve to a great extent.
Convert Raw Data into Useful Insights: According to a report, 91% of data stored in CRM software either went missing. On the other hand, 70% of CRM data went utilized or went bad. SugarPredict uses this data from internal and external sources to extract some worthwhile insights. It is a great example of a Machine learning application in CRM software. SugarPredict delivers all these amazing insights without compromising the privacy and integrity of customer’s data.
Eliminate the Guesswork and Improve the Performance: The AI-powered predictability will completely remove the manual guesswork and thus improve the performance. For example, sales reps can focus on leads and opportunities with more conversion probability.
Increased Accuracy: The average time required to close a deal will be improved significantly. Furthermore, this AI-based platform will prove some reliable metrics that can enhance team productivity as a whole.
Next-Gen AI technology is now accessible to all: For the past few years, only multinational organizations and tech giants have been able to heavily invest in technology like AI CRM. But now, with the introduction of SugarPredict, small-scale businesses can also have the fruitful advantages of Artificial Intelligence.
What to Expect from SugarPredict in the Future?
In addition to the current features, Sugar is also planning to add some other advanced features to the arsenal. We can expect these functionalities in the foreseeable future. Let’s see what these new future features hold for the SugarCRM users.
Currently, it can easily identify which customer is more likely to churn. But in the future, they are going to take this a step further. Along with the root cause, SugarPredict will be able to provide a troubleshooting process as well. This will allow the reps to strategically target and engage with customers.
The intelligent predicting capabilities will provide a new and improved leads scoring model. It means leads will be ranked based on how much they are showing interest in your business or product.
Automatic product recommendations to the customers. This will be done after keenly analyzing the customer journey and identifying the phase where it will be best to offer the product. This will improve the number of deals per customer.
Analysis of market patterns and trends. Also, factors affect marketing as well as business.
With the help of predictive case routing, SugarPredict will completely change the way of customer engagement and service. This will also help a company in providing the highest quality customer service.
If you are a current Sugar Sell user then you can take advantage of Predict from right now. It will let you compare the account’s ideal customer profile (ICP). Also, key features like predicting which leads are likely to convert and opportunities most likely to be closed-won.
Statistics showing the worth of SugarPredict
These statistics are showcased by Sugar itself on their official SugarCRM website. According to this data, SugarPredict is performing incredibly well and must be empowering a lot of businesses.
- Pipeline optimized worth more than $4 Billion.
- The lead conversion rate has surged by 80%.
- The customer retention rate has also witnessed a growth of 52%.
- Predictions were 81% more than before.
The CEO of SugarCRM, Craig Charlton said, “SugarPredict helps companies replace a fragmented, out-of-date, and incomplete picture with a sharply focused understanding of both their customers and business.” He added, “We’ve made significant product investments, over the last year, to democratize AI to drive business performance and enable predictability for companies of all sizes.”
The Closing Statement
SugarPredict is making its debut in one of the SugarCRM verticals, named Sugar Sell. And if it manages to leave a significant positive mark on Sell then SugarCRM is planning to introduce it to other Sugar products as well. The aim behind launching this innovative time-aware SugarPredict was to make AI available to all, irrespective of their business size.
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