Industry News Details

Why AI, Machine Learning And Big Data Really Matter To B2B Companies Posted on : Nov 03 - 2017

While most of the attention for how artificial intelligence (AI), machine learning and big data can impact companies is focused on the business to consumer (B2C) space, business to business (B2B) companies need to pay attention or they risk their future success. Customers have the same expectations for a simple and easy buying experience whether it’s a B2C or B2B interaction. So, if you’re in the B2B space, I hope your organization is beginning to explore and plan for, if not already implemented, big data and machine learning to your operations.

Since the buying cycle for B2B is usually significantly longer and more complex than B2C (Gartner found there is an average of 5.4 people on corporate buying teams), I would argue that it’s even more important for B2Bs to use machines in any way possible to quickly get to know customers and respond to decision-makers with the objective of closing sales as efficiently as possible.

According to Salesforce’s 2016 Connected Customer report, by 2020, 57% of business buyers will depend on companies to anticipate their needs and if they don’t, business buyers will have no problem switching brands. If that isn’t motivation to get things started, I don’t know what it is.

Here are some of the biggest ways artificial intelligence, machine learning and big data are facilitating operations for B2B companies.

Lead generation

It can take hundreds of hours of manpower to source new leads for B2B companies and to find the contact info you need from searching LinkedIn, company websites and more. Not only can machines help with the original gathering of information of lead generation, AI can analyze unstructured data such as emails, phone calls and social posts to then determine patterns and define who is a good prospect. This info is vital for effective marketing campaigns. View More