find an expert counselor near you
Search your county
adminFebruary 13, 2019

How AI Helps Small Businesses Compete on the Same Playing Field as Large Corporations

ai

Artificial Intelligence (AI) often sounds like the things that you see in a science fiction movie. However, you come into contact with technology that uses AI every day, and incorporating it into your business plan helps to level the playing field between your small company and larger corporations. As you explore new types of technology to use in your company’s daily processes, keep these benefits of AI in mind so that your small business achieves optimal growth.

Address Menial Tasks

Technological advances have made it possible for your team to use AI to eliminate those mundane tasks that detract from productivity. For instance, AI software can perform many of the same services as a personal assistant such as scheduling meetings or setting up customer appointments. With these tasks off of their to-do list, your employees can focus on other essential duties that are more important for meeting your company’s goals.

Give Customers an Instant Connection

Larger corporations often implement huge call centers to make sure that every customer receives immediate assistance whether they are buying a product or have a question about a purchase. For a small, sustainable business, large call centers may not be financially feasible. Once again, AI provides a solution to this problem since you can use software to immediately engage with your customers. Chatbots are a common form of this type of AI technology, and some of the latest software is so advanced that people are often not able to tell the difference between the chatbot and a conversation with an actual human.

Analyze Your Target Audience’s Behavior

Data is everything when it comes to analyzing what works for your business. While big corporations have teams made up of people who spend all day performing data analysis, you don’t have to work a bunch of new salaries into the budget. Instead, use AI to perform tasks such as tracking how visitors interact with your website or with your sales people over the phone. Being able to see things such as what web page a customer visits before they make a purchase allows you to streamline your marketing efforts.

Increase the Effectiveness of Marketing Campaigns

Social media is one of the hottest places to market your business. Yet, you may not be sure of where to start with making sure that the ideal customer sees your ads. AI software is available through many different social media platforms that uses information that you provide about your current customers to target ads to go to people who also fit those demographics. Being able to put your ad videos in front of the people that actually fit your target audience dramatically increases the effectiveness of every campaign.

Recruit Top Talent

Hiring procedures tend to involve a large amount of time and expenses when you want to hire only the top people in the industry. Now, you can cut your human resources departments work in half by using AI to screen candidates by running through their resumes and asking simple interview questions. AI can also help your business retain top talent by giving them access to information using chatbots in a way that is similar to the strategies used for customer service.

Sum it Up

AI doesn’t have to be complicated. In fact, using it to streamline your company’s sales and marketing processes allows for greater growth potential. Try starting out simply by experimenting with software that automatically connects with your customers or that analyzes the current data to make predictions about future sales. Then, make it a point to stay up-to-date on the latest advances in AI technology so that you can continue to add them to your company’s plans.

starting Your Business

If you are planning on starting a small business, NJSBDC, with the help of the Small Business Administration (SBA), is here to make your small business dreams a reality. Become a client and see how.

Expanding Your Business

If you are an existing business with annual revenue of up to $1 million or have more than $1 million in revenue and/or 10 or more employees, NJSBDC can help you expand your market share as a company and grow your vision into a successful company. Become a client and see how.

Related Articles

NETWORK PARTNERS & SPONSORS

Annual Key Sponsors

Financial Supporter

Major funding partners

The New Jersey Sustainable Business program is funded by the USEPA, and is part of an EPA Region 2 Toxic Reductions initiative that also includes projects being conducted by the New York State Department of Environmental Conservation (NYSDEC), and New Jersey Institute of Technology (NJIT).

Funded in part through a cooperative agreement with the U.S. Small Business Administration. All opinions, conclusions or recommendations expressed are those of the author(s) and do not necessarily reflect the views of the SBA. All services extended to the public on a non-discriminatory basis.