According to a survey (Statistica), the artificial intelligence industry is going to have a worth of more than $60 billion by the end of 2025. AI has already made its way in our daily lives, you might be familiar with Alexa, Siri, and Google Assistant. These are the prime examples of AI and now you can understand how dependent we actually are on AI.
AI software can be used to create better business strategies and achieve great goals if used correctly in the b2b business market.
AI in the B2B industry
AI is going to be a part of every industry in the near-by future. It will surely make an impact on the b2b industry. We are already familiar with chatbots that take the conversation with customers to a new level of personalization.
Here's how the b2b industry would be impacted by the advancements of AI.
Data Collection and Handling
The most important hoop of the sales funnel for b2b business owners and marketers are to gather, analyze, and refine the data of the customers.
According to a survey a business marketer spends 80% of the time, making efforts to make new customers and only 20% of the time creating retargeting strategies to retain the previous ones.
Al can help reduce this ratio by providing effective methods. Connecting a CRM to your website helps you to gather leads on auto-pilot. AI basically channels the leads to automatic funnel segments which define the value and the nature of the leads.
B2B companies tend to acquire thorough data in order to build the most accurate buyer's persona of their potential clients. But the resources required for this task can be really costly for the companies.
AI helps businesses by implementing advanced algorithms and scan larger databases to get more quality leads.
Process Simplification
You can simplify the sales process for both the sellers and the buyers, once the AI is integrated into the sales process, it can help to obtain more quality leads and reduce the man-hours required to perform the whole process.
When going through the demographics of the customer database, it can be really difficult and tiring for the sales professionals to find the best matches according to their buyer's profile.
Once you connect the CRM to your business process and AI comes into play, the process is simplified. CRM's artificial intelligence algorithms take over and provide you with potential clients in a matter of minutes.
The integration of AI provides more data-driven leads according to the attributes set by the user. Their algorithms scan a huge number of databases and choose the best fit according to the attributes.
AI efficiently increases sales and ROI for b2b businesses and reduce the cost of resources required to perform hectic data analysis tasks.
Personalization Matters
Personalization is the key to modern eCommerce success and one of the benefits of AI is hyper-level personalization in marketing campaigns.
Google's algorithm is very unique and advanced. When an email falls in your inbox, Google can identify whether the mail is promotional, social, or primary; with the help of certain set parameters.
AI-based CRMs can send personalized emails to a large number of audiences within the blink of an eye.
Consumer behavior has shifted in the last decade and now they want the brands to understand their needs better. Sending personalized promotions and interacting with them in a more personal way can increase the chances of conversions.
Chatbots are a great example of AI personalization; they provide the customer with a human-experience as he would have had if was speaking to a real human.
Although these chatbots are not much advanced for now, they have come a long way and they have even a longer way to go.
SEO Simplification
The skills of an SEO specialist can not yet be matched by any AI-based SEO software or SEO content creation software now. But, they are being used to check for potential mistakes and make the content error-free and more engaging.
In the coming years, it is expected that AI will play a significant role in optimizing the content for search engines. The SEO marketing strategies require so much effort. There are so many factors included in an effective SEO strategy like creating quality content, proofreading, link building, backlink analysis, and much more.
AI can and will take over these factors and play a pivot role in SEO campaign development, saving time, and efforts to focus on other important aspects of the business.
The algorithms of AI allow them to break complex tasks into smaller tasks and perform them efficiently.
Conclusion
The advancements of technology put us in wonder. AI is one of the best achievements of this decade. It is constantly improving day by day and new features are being added to it. We hope that one day AI will be able to help businesses so much by putting everything on automation and implying minimum human effort.
