Artificial intelligence (AI) has played a significant role in B2B businesses over the years. There are several apps that range from electronic goods to fraud detection systems deployed across many commercial establishments that leverage AI to provide the best quality customer outcome. Today B2B landscape leverages multilayered approach that need various types of communication channels such as emails, social media, web relationship management, and online campaigns to engage with customers. One such area where AIhas is information sources. Online marketers spend a majority of their time on reviewing data, cleansing them, to tap the best picture of their potential clients.
Artificial Intelligence in B2B Market
AI has shown significant improvements in the B2B marketing. Initially, marketers utilized AI to sell to accounts in overall disregard of whether a previous relationship existed or it was an inherited possibility from a previous online marketer. The information pulled out from organization’s Client Relationship Management (CRM) applications is limited and requires more details from the ‘customer’s interactions’ perspective. Online marketers can really dive into these information sources and provide a more precise and clear insight of a company’s customers and prospects. Through the power of AI, prospect recognition to targeting customer base by the sales team has proven to be much simpler. For example, spamming messages is one biggest barrier for B2B marketing. However, with the help of AI’s hyper-personalization feature, it can be resolved instantly.
The central benefit of AI for B2B marketers is that it gives them the power to see through their vast sea of data in a matter of minutes. This empowers marketers to gain an intimate understanding of who their customers and prospects are, and how to engage with them.
The use of AI helps the users to focus on the creation of data, while interpretation gets taken care of. The presence of AI can help a manager to train his team better, it would not be efficient enough to replace the manager entirely. The use of emerging technologies can help a manager to make most out of his team efforts, few of them are
Deep Learning : Machine learning as a service solution is adopted across industry verticals to enhance the decision making capability of machines and is known as MLaaS ( machine learning as a Service). Major companies including GE, Siemens, Intel, Bosch, NVIDIA, and Microsoft are making significant investments in machine learning approach to improve all the aspects of manufacturing because deploying machine learning improves the speed and accuracy of the functions performed. As per the research, “Smart Manufacturing” is projected to grow in upcoming 2-3 years and the global smart manufacturing market will be over $320 billion by 2020.
Artificial Intelligence Automation : There is a number of ways in which AI is transforming B2B marketing for organizations and SME’s by automating the marketing operations. Over the last few years, B2B marketers have begun turning to AI to improve the effectiveness of their campaigns and operations. AI-driven solutions like predictive lead sourcing, smart insights to predict consumer behavior, engagement insights for targeted content etc are automating the aspects of marketing and helping B2B marketers and their teams to do what they do best.
Blockchain : Most supply chains involve the buyer, seller and a logistics provider, the information flow between these entities usually points to point or one way through XML-based or EDI messages. They attempt to synchronize information flow within the supply chain. However, true synchronization does not exist since there are complex rules. Blockchain for B2B networks can deliver improved visibility of the information flow within supply chain networks. It allows multiple parties to view information, which is stored in a decentrally owned data store. When fully developed and integrated within existing systems, blockchain enables marketers to directly reach out to clients without the need for agencies and go-betweens.
Hyper-Personalization : Big data isn’t all about gaining insight into the behavioral patterns of existing and potential customers. It also involves the use of these insights to personalize one’s marketing strategies. With the advent of AI technology, marketers can now target business entities on a case-by-case basis. This enables increased personalization of the products and services being offered, resulting in increased conversion rates. It also improves customer experience because prospective clients are shown marketing messages that have been designed to provide viable solutions to their specific needs. In this way, AI advancements are making customer-specific personalization more realistic than ever, helping to enhance the effectiveness of marketing & sales channels.
Chatbots : AI is making strides in the implementation of all types of sales channels. It’s utilizing relevant data to sharpen effective direct marketing strategies and sales outsourcing. Technologies like chatbots are guiding customers through B2B products and services and helping deliver a personalized experience by prioritizing items that align with buying history. The most obvious use of this is in making reordering more seamless, considering that reordering is pivotal in the B2B industry and can enhance brand loyalty.
AI’s impact on the B2B industry is likely to be all-encompassing, especially since it is no longer a costly investment reserved for industry titans. The widespread use of AI from big-name companies like Google, Apple and Amazon combine with increasingly affordable technology to make the AI industry one that continues to become more accessible. In the B2B Marketing, AI can deliver personalization and ease-of-use better than before, while also utilizing real-time data and consumer history to enhance the purchase experience.
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