You may think AI is the most flexible emerging technology ever to have been created. Since its inception, AI has significantly grown, improved, and has become radically undertaking all aspects of doing business from lead generation to tracking customer behaviors, sales conversion, and establishing social media and email marketing databases. And as this incredibly flexible field takes on significant growth in this new decade, it has enormous potential for B2B marketing.
According to the AI in marketing statistics 80% of B2B marketing executives predict AI will revolutionize the industry as early as by the end of 2020. Another source shares the same command and states that an estimated 64% of B2B marketers consider AI valuable for their sales and marketing strategy. Considering these numbers that speak so immensely in favor of AI and B2B marketing, one must think it is a match meant for each other.
7 Ways AI Will Transform B2B Marketing in 2020
- Increased volume lead generation
A very vague concept of AI is that it is a set of machine learning formulas and algorithms that create a precise estimation beyond or more efficient than human intellect. Machine learning is unique because it integrates software that modifies the code and significantly improves it to fit the task it has to perform.
To put it simply, it handles tasks that the software can process and perform better than humans. Therefore, the best way to seek advantage of AI in B2B marketing generating ore amount of relevant leads. AI can support efficient software to hold a large amount of data and produce just as many leads based on the customer information input.
- Predicting product value
AI and machine learning will help marketers to make excellent use of the emerging technologies for product positioning. Every brand has a star product that is the most popular and, most importantly, the reason customers return to the brand. AI would find the right way to highlight that product for potential customers as a best seller. The ability to correctly frame your product requires a structured procedure that only AI can provide as efficiently.
- Having competition in lead generation campaigns
B2B marketing is not as easy as it seems. It is a much more complex and unpredictable system that depends on constantly changing variables. The goal at the core of B2B marketing for the marketers is to qualify above their competitors to get to the leads and decisively use relevant data sets when generating results from relevant prospects. As AI can optimize the leads that are most likely to create a business relationship, the consequent steps that follow are:
Capturing the response
Answering their queries
Determine, describe and qualify based on the questions asked
Pass on the lead information to the sales team
Seal the deal
- Leveraging social media
We are a part of the digital age. There is no way a new technology would not integrate the power of social media to its benefits. The internet provides us with a storm of potential platforms that one can leverage. Many of these even have designed their own AI tools to help businesses run and optimize a marketing campaign.
Platforms such as Google, Facebook, Instagram, and Reddit hold great opportunities for modern B2B marketers. Also, we cannot go about without mentioning chatbots. Chatbots have become increasingly realistic overtime to help generate hype and analyze trends for marketers.
- Enhanced quality leads
As AI backs up software to hold a large amount of data, it is then filtered out to categorize potential customers from potential long-term leads. It helps generate relevant leads based on the information. The quantity of the number of customers is not relevant unless the number signifies the potential leads. Hence, to differentiate the prospect from a business acquaintance and a loyal customer is what AI can do best.
The benefits are immense as you realize how many marketing resources and potential time you save, given the fact that you work only on the customers that promise you profitable returns. For instance, if you are a writing company that offers to do my assignment in UK, you don’t have to spend resources for sending follow-up emails all across the student forum. The software will tell you who interacted with your email as an interested and engaging customer.
- Lengthening the B2B sales cycle
A sales cycle is how an organization goes from point A to point B when selling a commodity. As the cycle becomes more complex, each step of the process becomes harder to suffice and makes the overall sales cycle more lengthy and problematic. The points that I have mentioned earlier are all somehow a step in a sales cycle. Thus it can be said that AI can easily help optimize every step of the way to conclude a successful sales deal.
- Marketing to a more knowledgeable customer base
Lastly, the numbers are an essential measure as your business expands. When you experience business growth too fast, it becomes challenging to keep up with all the changes demanded by the clients. Hence, to handle a growing customer base that is already vastly knowledgeable about your brand requires a step already taken ahead of time, and that is to integrate AI and machine learning every step of the way.
All in all, as AI transforms every aspect of the business from customer service to CRM systems, it is inevitable that soon, it would have paved its way in every type of business and revolutionized how we operate as business entities today.
The original version of this article was first published on V3Broadsuite.
- 7 Ways AI Will Transform Marketing in 2020 - July 6, 2020