How AI can help you grow your small business
Imagine building a successful business while spending less, not more time at work? Imagine having more time with your kids without sacrificing the health of your business?
Artificial intelligence has unlimited potential for you and your business. Whether that’s profitability, being industry recognized,
In the current business landscape, you don’t have to be a large company to give your small business the edge created by AI. There are a number of tools that can help small businesses with organization, efficiency, and productivity like Aider.
First of all, we should define what we mean by growing your business. This could be:
*Increasing revenue
*Improving profitability
*Boosting productivity
AI can help with all three of these growth goals. It can analyze, predict and automate aspects of your business. Utilizing AI, you can free up your time, make better decisions and take action faster.
Find out how AI could help your specific business below:
AI Applications for Hospitality
Customer experience is the key ingredient of successful hospitality businesses. Whether that’s cafes, restaurants, bars, hotels or other.
No doubt you know many of your customers by name; know a little about their lives. Combine this knowledge with the capabilities of AI and you have a recipe for greater customer engagement and loyalty.
But AI doesn’t just have the ability to improve the experience of your customers, it can also help you minimize waste, predict seasonal differences and increase efficiency across your business.
Machine learning can help you predict stock seasonal differences, customers, costs and cash-flow. Using historical data as their base, smart algorithms can improve your order supply-and-demand efficiency with real-time insights, thus saving you money and reducing waste.
AI can now also be used as a proactive extension of your business. Digital assistants can automate tasks such as customer orders, payroll, invoices and so much more. All of this is achieved with an AI assistant activated by voice or messaging, available anywhere and personalized to you and your business.
AI Applications for Startups
You already know that most startups fail. Now you’re wondering how AI could give your startup the edge it needs to take it to the next level? You also know how important data is to your business; your industry; your market. No doubt you’ve also heard of analysis by paralysis?
AI is often better, faster and more accurate at analyzing data. But machine learning is also better at prioritizing data and making it more accessible.
Your customers are demanding more relevant, personalized and consistent experience. Yet, as a startup, you’re likely strapped for capital, talent and time. You don’t need to know everything, you just need to know enough to make better business decisions.
Machine learning can do the data mining for you and prioritize which metrics you need to know based on your industry, past history, trends or future predictions. This data intelligence can be used to smarten up your CRM, sales and marketing efforts.
AI can help you automate and optimize marketing, social media and advertising campaigns to help you achieve your goals and maximize returns. It can also give you better customer insights from your CRM and encourage more meaningful communications with customers.
This enhances customer relationships for the business and provides more value for the customer.
AI Applications for Retail
With the rise of e-commerce retail, brick-and-mortar retail isn’t dead, but it’s under serious threat. The offline retailers who don’t evolve, adapt and innovate with modern consumer expectations, risk being thrown out with last season’s fashion trends.
AI enables retailers to provide their shoppers with a more personalized and tailored shopping experience than ever before. Instead of manual data entry, detailed customer preferences and records can be updated and processed automatically.
Macy’s is trialing an AI-powered mobile platform that allows in-store shoppers to ask questions about products, inventory and facilities, and receive personalized responses direct from their mobile devices. This will enable Macy’s to scale hyper-personalized marketing and drive further sales opportunities.
Experiential retail experiences have given rise to AI-assisted facial recognition applications that measure foot traffic, give product recommendations based on past purchase history and provide personalized offers to shoppers.
As a busy retail store owner, you need the same level of accessibility, personalization, and functionality. You need customized alerts and insights, automated inventory management and price optimization. Anything that helps you stay in touch with your business every day.
Imagine being able to ask any question knowing you’ll receive an instant answer that you can use to help grow your business?
AI is no longer just for the big boys; the Amazon’s, Google’s and Apple’s of this world. It’s for the local cafe, retail store, and other small businesses. The small businesses that take advantage of the immense opportunities that AI technology provides will reap the rewards now and into the future.
With the help of AI, the businesses of the future will be smarter, more dynamic, proactive and efficient. Small businesses can now use AI in managing day to day communications, having quick access to data analytics and more. It’s not a matter of if, but when.
It’s often said that the more experienced employees become, and the more responsibility they’re given, the better they become at their jobs. Likewise, the more AI technology is utilized and trained, the more useful and dynamic it becomes, and the better it could be for your business.
Give Aider a try today and get answers from your data.