What is B2B Marketing?
Business-to-business marketing is where a company’s product is sold or service is offered to another company. B2B marketing techniques are based on the same principles as consumer marketing but are carried out in a unique way. It is different from the consumer market in the respect of fewer customers, possessing derivative demand and involving complex transactions.
Why use AI in B2B Marketing?
Technological advancements have always created new opportunities for reaching to customers thus enhancing businesses. Artificial Intelligence is one such technology which has created a massive buzz in the digital space. No difference in B2B marketing, AI has also opened several new ways for people in B2B marketing to interact with brands, information and services.
Marketers face a wide range of challenges as the market is subject to rapid changes. They are thus forced to adapt, learn and grow. The proper tools and techniques can aid them solve their problems and increase traffic and revenue. With the assistance of AI, one can predict future customers, identify special trends, personalize various campaigns, thus increasing the efficiency and generating more revenue.
Ways to transform B2B marketing with the help of AI
AI is making its mark in every field. By automating processes in B2B marketing, it is helping in increasing productivity. An AI-enabled system can achieve wonders once integrated completely into the system. For example, chatbots are interacting with customers and resolving their queries just like any human. In this way, it has played a significant role in the success of various companies in the marketing sector.
The idea of AI is to produce what humans can do, maybe even excel their prowess by looking towards rectifying the drawbacks. Some methods to transform the market are as follows:
Lead Generation Efficiency
Existing clients can be nurtured to generate even more sales. Yet even more leads are required. AI can help in this lead generation process by attracting more clients and even streamline those clients who are more likely to convert. The data will act as raw information while AI is a search tool to help get the most valuable data.
Better Lead Conversion
Even if the sales team can generate a large number of leads monthly, if the conversion rate of the lead is not even one percent then they have no value. AI is able to increase this conversion rate by sending personalized messages of the company’s ad campaign, infographics, videos by identifying the need of clients.
Automated Account Selection
The usual way of finding new clients by cold calling and sending emails to random addresses is very hectic. It requires a specific team, huge resources and a management system to segregate the interested customers and targeting them again. AI will automate the whole process, identify the new and existing accounts based on their predefined entities, help the salespersons with their choice-making and give them enough time to strengthen their bond with the existing customers.
Chatbots
These are programmed software designed to give appropriate answers to customer queries and ask relevant questions when required. They help in identifying potential leads through efficient communication. They can be employed on any social media platform or business sites for interaction of customers and thus reach a global audience, generating better leads.
Personalization
AI can reach out to a large number of relevant buyers with personalized messages and communicate with them to know the needs. But there may arise situations when AI would fail to continue the conversation effectively. In such cases, the system can transfer control to the customer executive.
Behavioural Analysis
Behavioural analysis is a crucial factor to know the customer and deliver according to their interests. The AI-based system can predict the behaviour of customers on the basis of search history and available data. Then relevant notifications might be sent to those customers for them to purchase by a single click.
Reliable and Accurate Analysis
AI in B2B marketing can successfully avoid any obstacles stopping businesses from blooming. Nowadays users are able to view new discounts daily as AI has processed their data, which is available on the internet to pave way out for every customer.
Cost Reduction
Amongst the most challenging tasks in marketing is cost-minimizing. Due to the automating, AI can cut huge cost besides being work efficient. This diminishes communication expenses as customers receive automatic answers and machine-enabled suggestions on the latest offers via various means. Thus many companies have experienced significant cost reduction after introduction of an AI system. Some companies even saw the cost reduction figures rise as high as upto 60% even when AI is not yet fully developed.
Optimize Email Sending
Everyday companies or individuals receive a large number of mails and the marketing mail might get unnoticed. After initially creating a compact, informative email, one, with the help of AI, can optimize the time to send that email when one feels it might get noticed. This will enhance the conversion rate and make the marketing campaign more efficient.
Content Creation
This feature of AI is yet to be fully developed but it still helps marketers to reduce workload and automate certain tasks. Once fully developed, users can create subject lines and call-to-action for achieving better results.
Timely Content Delivery
AI is not yet able to create quality content on its own but can send created content to the target audience without human intervention anytime. Thus the marketing team during this period can engage themselves in other tasks.
Brand Abandonment
Customers might abandon a brand if they receive annoying irrelevant texts or emails, creating a bad impact. AI will send contextual messages to the targeted audience and gain their trust.
Better Campaigns
AI can boost analytics by analyzing consumer data and predictions. It can also tell which content has not worked well for the campaign, thus preparing marketers for better future campaigns.
Deliver Relevant Insights
By analyzing the sales cycle, AI can suggest accounts which are good according to customer profiles. Positive results will reap great future benefits.
Analyzing Why Deals Were Lost or Won
Some AI systems can record sales calls and convert it into a highlight of about 5 minutes. The sales team can review the calls and see where things went wrong or where deals were made, thus strategizing better future communication.
Conclusion
AI in B2B sales and marketing is undoubtedly the future. Practically it can deal with immense business data, construct models for prediction and effectively communicate. AI, with its craft, the experience of interactions will eventually lead to a boost in business revenue.
Guest article written by: Maria Baeza is a Content Marketing Manager at Top MobileTech. It is a blog where I cover all the tips & tricks related to Mobile and more related to tech. Stay connected to the rest of the world with Top Mobile Tech. We bring latest and critical news to your mobile and computer devices.
Artificial Intelligence has created a lot of buzz in the digital space & it is transforming many fields by automating the processes. Thanks for the informative article & hope to see AI in B2B & many more sector.