Does artificial intelligence has a place in B2B sales and marketing?
Artificial Intelligence (AI) is a field of computer science that focuses on creating intelligent machines that work and react like humans. In other words, AI helps computers learn without being explicitly programmed.
This article will cover the basics of AI and show you how it can be used in B2B sales.
Why will B2B sales benefit from the use of AI?
Artificial intelligence is an emerging technology that uses computer systems to perform tasks typically requiring human intelligence. It is used for many different purposes, including customer service, marketing, and business analytics. For example, for any B2B sales team, AI automates repetitive tasks such as emailing leads or scheduling meetings.
The main reason why AI is so valuable in B2B sales is that it allows us to do things much faster than we could before. For example, suppose you have a list of 100 potential customers instead of spending time manually contacting each one of them. In that case, you can send out an automated follow-up email scheduled for a specific time. This saves you hours every week that you can use to deliver actual sales.
Types of AI?
There are two basic types of AI: rule-based and machine learning. Rule-based AI is when a computer system follows a set of rules to make decisions. Machine learning is where the computer learns through experience.
Rule-based AI is straightforward to implement but is not always accurate. The problem is that there is no way to tell whether the computer made the right decision or not. So if the computer makes a mistake, you don’t know what went wrong. Some companies use statistical analysis to determine which variables were most likely responsible for making the error to fix this issue.
Machine learning is more complex to implement but is also more powerful. With machine learning, the computer doesn’t need to follow any hardcoded rules. Instead, it learns by analyzing data over time. When the computer comes across new information, it updates its knowledge base.
This means that the computer becomes more intelligent over time. However, this type of AI requires a lot of training data to get started. But once the computer is trained, it works almost perfectly.
What does this mean for B2B companies and their sales teams?
If you want to improve your conversion rate, then using AI is something worth considering. You can use AI to help you find better ways to communicate with your audience and increase your response chances.
For example, let’s say you are trying to sell a product online. Your goal is to generate ten qualified leads per day. So, you decide to spend $10,000 per month on advertising. But, after six months, you only generated 20 leads. That means that you paid $1M and still didn’t achieve your goals.
Now, imagine that you had access to an artificial intelligence tool that would allow you to analyze your online traffic and identify the best times to advertise. Then, you could run an ad campaign during those times and reach your target audience.
You might think that this sounds like science fiction, but it isn’t. Companies like Google already use similar tools to optimize their websites. They call these tools “search engine optimization”. SEO helps search engines understand what content should rank higher in search results.
It turns out that AI has been around since the 1950s. And now, thanks to advances in computing power, we can finally start seeing it implemented in our daily lives.
AI Is Important In B2B Marketing
According to McKinsey & Company, AI will become the dominant force in business within the next decade. By 2020, AI will account for 80% of the value created by global companies.
That’s why it’s vital to stay ahead of the curve and use AI in your B2B marketing strategy. Here are examples of how AI can benefit your company:
• Improve Customer Service
A significant benefit of AI is improving customer service. For example, if you have a chatbot, customers can ask questions without waiting on hold. This allows them to get answers immediately.
Chatbots aren’t just limited to answering simple questions. Some even offer personalized recommendations based on user preferences.
• Reduce Human Error
Another advantage of AI is reducing human error. A recent report from Gartner found that up to 90% of mistakes occur because humans make mistakes when completing routine tasks.
By automating some of these processes, you can free up employees to focus on other things. In addition, you can reduce the risk of making costly mistakes.
• Increase Productivity
The third significant benefit of AI is increasing productivity. If you have a team of people working together, they can easily collaborate on projects.
However, it’s not always easy to share files between teams. And it can take hours to send emails back and forth.
But with AI, you can create a shared workspace where all team members can work together. They can also upload files directly into the system so everyone can see them at once.
• Create Better Content
The fourth major benefit of AI is creating better content. For example, an AI-powered content creation platform can automatically write blog posts, articles, and press releases.
This saves time and money. Instead of hiring writers to do this manually, you can pay an AI bot to produce high-quality content.
There are plenty more advantages of using AI in your B2b marketing strategy.
But the point is that AI can help you save time and increase efficiency. So don’t hesitate to try it out!