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  • Writer's pictureTamas Rigo

Your Guide To Articles On ROI Of AI Automation, Lead Generation and AI Powered Marketing


Lead Generation and AI MArketing Results On a Screen

 

Why Is It Important To Achieve High ROI On AI Automation and AI Lead Generation?


When investing in AI-assisted lead generation, lead nurture and AI automation, companies want to improve the number of customers who engage with the business. AI must significantly increase qualified inbound leads, onboard them efficiently and nurture them into paying customers to meet business leaders' ROI expectations.


Why Have the Returns On AI Automation Jumped Substantially In 2023? What Does This Article Focus On?


Generative AI has been around for over a decade, but 2023 has seen an explosion of use cases with the arrival of ChatGPT, Inflection AI, Claude from Anthropic and the like.


In this blog post, we collected some of the best articles written in 2023 about AI use cases and the impressive return on investment generative AI and AI automation provide, starting with a link to a blog from McKinsey that outlines the impact of generative AI in customer experience, growth, and productivity.


Generative AI can automate many sales activities, enhance personalization, and provide insights for better customer targeting and engagement. The firm has run several large-scale surveys with business leaders and states that 60% of them expect AI to take a "significant" or a "very significant" role in their Lead Identification, and 50% or more stated their company will use AI and AI tools for Marketing Optimization, Personalized Outreach, Dynamic Content Generation and for Up/Cross Selling, ’often’ or ’almost always’ in the next two years. Their research indicates that players who invest in AI are seeing a revenue uplift of up to 15% and a sales ROI uplift of 10% to 20%.

 

Here's an overview of the best articles reviewing the ROI impact of AI in various aspects of marketing and sales based on findings from multiple sources. However, it's essential to note that the application of AI in marketing and sales can be highly contextual and industry-specific. The success and ROI of AI implementations can vary based on factors such as the industry, the specific AI technology used, the level of integration, and the organization's maturity in using AI.



ROI on AI-Assisted Lead Generation vs. Conventional Lead Generation


Generative AI is projected to boost productivity and creative problem-solving by 50% in 2024. It is expected to be operationalized in automating customization, sales, and delivery of products and services, with 10% of operational processes utilizing LLM-powered digital assistants by 2024​​. 

AI has significantly impacted lead generation by enabling companies to gather more data, analyze them quickly, and make better decisions. AI-powered tools help identify high-quality leads, leading to higher conversion rates and increased revenue. For example, StepOne Agency created two chatbots using Outgrow, increasing their lead generation rate by 2.67 times, with a read rate of up to 84% and a 53% click rate from the chatbot to the website​​​​​​​​​​. 

 

Conversational AI, can respond quickly regardless of lead volume, qualifies leads efficiently, and engages leads at every level of the sales funnel. For example, using virtual assistants, ChannelSight saved 20% of their time on lead qualification and nurturing. Additionally, conversational AI platforms can nurture leads through consistent communication, similar to Sales Development Representatives (SDRs), but more scalable and cost-effective​​​​​​.

 

According to BCGS research, 84% of sales leaders say it helps increase sales and over 70% plan to invest more in GenAI. BCG client experiences include a 20% reduction in customer call handling time, freeing up teams for more customer interaction.

 

A case study from DruidAI highlighted a banking customer (OTP Bank) that experienced a financial impact of over half a million dollars using an AI-powered FAQ virtual support agent. This agent provided round-the-clock personalized information and guided customers through the credit payment deferral process.

Conversational AI aligns success metrics with business objectives, enhancing customer satisfaction, supporting operations, and increasing conversion rates.

According to Druidai, the use of conversational AI leads to operational efficiency gains of 20-30%, resulting in cost savings and significant ROI​​.


 

Which Areas Within a Business Benefit the Most From AI Powered Services?


A benchmarking study by ESI ThoughtLab, cosponsored by Deloitte, indicated that companies generally see a positive ROI from their AI implementations. Key areas for returns include customer service and experience (74%), IT operations (69%), and planning and decision-making (66%).


Marketing and sales are enabled by AI-powered solutions to scale personalized branding and marketing campaigns. Marketing agencies are expected to spend $550 million on external partnerships for AI models in 2024, with major companies like Adobe, Google, and Microsoft creating brand-specific AI models​​.


Multimodal generative AI can streamline unstructured data, enhancing efficiency and eliminating redundancies. By 2025, 40% of engagements in the services industry are expected to embed generative AI-based delivery, and by 2024, 40% of enterprise applications will have conversational generative AI capabilities​.


It is important to note that while AI offers numerous benefits to small and medium sized firms, there may be challenges in adopting AI, such as financial constraints, skills gaps, data security concerns, and complexity of integration. However, solutions are available, such as starting small and scaling up, training existing staff, choosing verified AI platforms with robust security protocols, and careful planning for integration.




The Way Forward - Looking Into the Near Future Of AI Lead Generation and Automation



Prepare your business for the coming period of accelerated change and exponential improvement in AI automation capabilities. AI is now progressing from automating tasks to automating entire workflows. In the short term, multimodal generative AI will streamline unstructured data, enhancing efficiency and improving the quality of customer interactions. By 2025, 40% of engagements in the services industry are expected to embed generative AI and more than 40% of enterprise applications will have conversational generative AI capabilities. Within two years, companies, regardless of their size, can deploy intelligent, autonomous agents in their business.


AI is changing the game in all service industries, fast. AI automation and AI agents are your company's stepping stones to significant improvements in reaching more customers at a cheaper cost. With AI agencies as your service partner, you can serve more customers and do it quicker and more affordably. Think of us as your go-to 'AI Department' – always up-to-date and ready to support you every step of the way.

 

 


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