According to statistics, 90% of startups fail, and only 10% achieve success. Why? Mostly because ambitious entrepreneurs have a lack of funds. Or, it would be better to say because they don’t know how to manage their funds wisely.
It’s funny that IT startups don’t understand how they can benefit from using new technologies. They ignore the simple truth that using Artificial Intelligence, they can double their chances to succeed. In this article, we will consider five ways to apply AI to facilitate business processes.
Digital Voice Assistants
Startups lack time even more than they lack funds. And that’s a huge problem. If developers do not use every minute wisely, they risk being beaten by new startups that offer alternative solutions.
Unfortunately, most of the startup owners are overwhelmed with the number of daily tasks. Because of the lack of experience, they do not know how to run multiple business processes, how to stay in touch with employees and investors, and how to manage their time adequately.
If you are a startup founder, you know how challenging it is to stay focused on important tasks when you get distracted all the time. The chances are that you want to hire an assistant but can’t afford it right now.
If you want to complete small tasks faster, and manage your time more effectively, try to use AI-powered virtual voice assistants. With the help of Alexa, Siri, or Google Assistant, you can do the following:
- Make notes
- Set reminders and alarms
- Manage schedules
- Create to-do lists
- Control all your smart gadgets
- Schedule an Uber or Lyft
- Check and respond to emails
- Send shopping lists to your phone
- Print documents
Delegate all these small tasks to your AI-powered virtual assistants, and you will kill the distractions. You will be able to immerse yourself in startup life and lead your venture to success.
Startup life is always about meetings: meetings with the team, partners, investors, clients, journalists, and other people. Naturally, it’s not that easy to schedule all these meetings in the right way and get the most of your time.
If you have poor time management skills and need help, you can use an AI meeting scheduler. This magic tool will help you to organize your day in the best way possible, so you can stay on track while working on your project. With the help AI-powered meeting schedulers, you can complete the following tasks:
- Sync your calendar on all devices
- Set meeting reminders
- Check time available
- Book meeting rooms
- Organize video chats
- Cancel meetings in one click
“Meetings are important for startups, so you can’t skip them. But you can skip the scheduling by using AI meeting schedulers. It’s a simple yet effective way to save time and boost productivity,” says Elizabeth Cruz, CEO of Studicus.
The vast majority of startups find it difficult to land the first clients. Why? Because customers avoid buying products from companies they never heard about.
If you want to convince your target audience to try your product, you should use AI-powered chatbots. Smart bots will help you to grab and retain the customers’ attention and make first sales.
If you can’t afford to hire professional customer support agents, AI chatbots are the only right solution for you. Bots, just like humans, can perform a wide range of tasks. They can do the following:
- Help customers to navigate your website
- Help customers to learn more about your products and the plans you offer
- Assist customers with placing order
- Offer solutions to typical customers’ problems
- Provide information related to product usage, installation, maintenance, etc.
If you customize and personalize AI chatbot in the right way, you will easily boost customer acquisition and retention. So do your best to create a perfect chatbot. Use writing tools like TrustMyPaper and GrabMyEssay, or online grammar checkers like Grammarly to proofread chatbot’s responses.
The success of startups always depends on how well the founders analyze data related to the industry trends, customer behavior, and competitors’ activity. The better startup founders research the information, the higher the results they achieve.
In 2019, data analytics and artificial intelligence go hand in hand. The use of advanced technologies makes it possible to link data to gain insights on customers and optimize the speed and quality of the business processes. Applying AI to data analytics, you can do the following:
- Get a better understanding of the customers’ decision-making process
- Predict the behavior of your customers
- Customize your product to make it fit the market
- Forecast sales
- Forecast market trends
“If you want to get into your customer’s head, use AI for in-depth data analysis. Get all the information you need to create an ideal product that will always be in high demand in the market,” says Alex Peterson, a writer and a data analyst at BestEssayEducation.
Your website is the most important channel of communication with your customers. So it must work smoothly.
If you want to improve your site and enhance your customer journey, you should use AI tools. Innovative tools will help you to complete such tasks:
- Define minor technical issues
- Analyze visitors’ behavior
- Find out which CTA buttons work the best
- Analyze what type of content attracts your visitors the most
- Define broken links and bad backlinks
You should conduct an in-depth audit of your website using artificial intelligence. It will help you to understand what weaknesses and strengths your site currently has, and how it’s possible to improve the situation. Once you update your website, your startup will attract twice more customers.
You are not a superhero, and you can’t cope with all the workload on your own. You need help. If you can’t afford to hire a real assistant, you can use a virtual one.
Take advantage of all the benefits Artificial Intelligence brings, and you will see that it’s not that difficult to work at a startup company. You will have more time to focus on key business activities and to come up with new innovative solutions.