The Future of Sales: Overcoming Knowledge Friction with AI Innovation
In the rapidly evolving landscape of sales, where information is a currency and responsiveness is paramount, one formidable obstacle stands out — knowledge friction.
Knowledge friction is the distance between what a salesperson needs to know and the ability to access that information. The intelligence embedded in internal systems is often obscured by layers of technology, creating a barrier for users trying to extract valuable insights. And this is especially challenging for salespeople who deal with high volumes of complex information. Sales reps today waste thousands of hours looking for answers scattered across different content repositories and data warehouses — in fact:
72% of salespeople’s time is spent on activities other than selling.
Salesforce
Ouch.
Knowledge friction also encapsulates the barriers that impede the flow of knowledge within sales teams and across organizations. Often, it is a pivotal factor in determining the success or stagnation of a sales team’s efforts — making it one of the top issues that salespeople need to address. Artificial Intelligence (AI) can play a significant role in addressing knowledge friction for salespeople by streamlining access to information, enhancing collaboration and unlocking valuable insights.
Chatbots represent an early iteration of AI in addressing the challenges that knowledge friction presents. They can engage with potential leads, answer common queries, and provide preliminary information. A good chatbot not only frees up salespeople’s time but also ensures that customers receive immediate responses, which reduces friction in communication. However, most chatbots struggle with conversational fluency and natural language processing. This hinders their ability to provide accurate and relevant information, often impairing rather than improving the customer experience.
Pryon
At Pryon, we have created an AI-based Enterprise Answer Engine that takes a different approach to address the challenges that knowledge friction presents. We consolidate your sales-relevant content from multiple sources and weave it into what we call a knowledge fabric. A knowledge fabric is a comprehensive and interconnected network of trusted information within an organization. The concept is rooted in creating a unified and flexible knowledge ecosystem that transcends traditional silos, allowing organizations to harness the collective intelligence of their workforce without introducing external biases or disinformation.
Our knowledge fabric is different because it improves information accessibility beyond website structure. This shift towards conversational fluency holds immense value for salespeople because it empowers them with the instant, accurate answers they need to navigate the complexities of the sales landscape and deliver better customer experiences.
With a knowledge fabric, sellers have direct access to the newest information, ranging from product details and market trends to customer preferences and competitor insights. This ensures that salespersons in the field always have the latest information to work with and enables them to stay informed, agile and responsive, enhancing their ability to address customer inquiries promptly and to tailor their pitches based on real-time insights.
Knowledge friction poses significant challenges for sales teams and, if left unaddressed, will be one of the top issues that salespeople face today. Conventional approaches, such as chatbots, have shown promise but come with limitations, particularly in terms of conversational fluency and natural language processing.
Pryon’s innovative AI-based Enterprise Answer Engine delivers a private knowledge fabric that leapfrogs traditional structures. This breakthrough approach addresses knowledge friction and redefines how information is accessed, shared, and utilized within organizations. It represents the agile, customer-centric, and successful sales environment that delivers sustained competitive advantage, “Knowledge at the Point of Sale”
Recognizing and proactively addressing knowledge friction is not just a priority; it is an essential strategic imperative for salespeople to thrive in the fast-evolving business landscape this year and beyond.
Visit our site to learn more about enterprise AI solutions for knowledge friction.