Blockchain for Business – Promise, Practice and Performance

1. Blockchain for Business –Promise, Practice andPerformance Artificial Intelligence is poised to be the next wave of digital transformation. The time to explore AI implementation has come for every business leader. At this point, developing an AI roadmap should be a top priority for most enterprises. B2B organizations are no exceptiontothistrend.AIispenetratingtheB2Bmarketaswell. In fact, 80% of B2B marketing executives believe that artificial intelligence will revolutionize the industry by2020. As AI moves deeper into mainstream enterprise, it is important to understand its significant and imminent impact on everything from business strategy, business operations to customerdelivery.

2. Image source: SmartInsights Why Artificial Intelligence Matters To B2BOrganizations The customer buying cycle for B2B is significantly longer and more complex than B2C. To address each requirement of clients, B2B companies must put concentrated efforts to understand the buyerpersona. Be it end users or corporate clients, each individual leaves behind plethora of information through their online activities. Whether they search online, visit websites, or purchase online, large volume of data showing such as these needs to be analyzed to understand the user mindset, demographics and theirbehavior. According to Salesforce’s Connected Customer report, by 2020, 57% of business buyers will depend on companies to anticipate their needs and if they don’t, they will have no problem switchingbrands. When investing manual efforts in understanding the buyer, businesses often miss crucial insight as data collected can be inaccurate, mismanaged or fou nd redundant – resulting in loss of sales and customerexperience. Hence, B2B marketers need an accurate method to do precise interpretation of data. AI is one such tactical approach that every B2B marketer should adopt. It helps in evaluating valuable data insights, quickly responding to decision-makers, resulting in enhanced userexperience. Importance of AI In B2Borganizations Artificial intelligence (AI) technology promises to solve complex problems of B2B organizations that no humans could legitimately solve earlier. AI can help businesses increase sales, accelerate lead conversion, optimize content delivery, and improve customerexperience.

3. AI can help B2B companies gain a steady advantage and encourage exponential growth. While many companies are still exploring AI solutions, several top organizations are already thriving withAI. • For instance, AI controls everything at LinkedIn, from the right job recommendation, providing relevant content to their members, helping sales person predict the leads responsiveness, to helping a recruiter find new talentpools. • VP of Artificial Intelligence at LinkedIn says that AI is like oxygen at LinkedIn. They observedseveralbenefitsfromdeployingjustoneAIsystem.Someofthemare: • 30% increase in jobapplications • 45% growth in InMail responserate • 10-20% improvement in article recommendations in thefeed • “Artificial Intelligence will transform every industry across both B2B and B2C sectors, including retail, healthcare, legal, manufacturing, and automotive. It is not a matter of if AI will transform your industry—it is only a matter of when”. —Ronald vanLoon • Here are some of the major ways Artificial Intelligence are facilitating operations for B2B companies. • LeadGeneration • B2B lead generation is a laborious manual process. It can take hundreds of hours of manpower to search potential clients, categorize them based on requirements and find contact information. In this aspect, Machine Learning can help collecting la rge volume of data while organizing unstructured data to determine a good prospect. This information is vital for effective marketingcampaigns. • Predictive AnalysisEfforts • We already see this in the B2C landscape. Customized ads and suggestions are visibl e in search results and social media feeds. B2B companies are also leveraging predictive analysis to offer customized range of servicesor products based on their user purchase history. • There is much more opportunity for upselling as well as sustaining collaboration with the rise of AI in B2Bcompanies • CustomerEngagement • Artificial Intelligence help B2B organizations to enhance customer experien ce during each stage of customer lifecycle. Predictive analysis, Ad targeting and Re -targeting, can convert an indecisive consumer or customer who does not prefer to purchase the second time into a repeatbuyer. • Chatbots improve the customer buying process . Customers can easily get answers to their questions when browsing online. Marketing automation can target lapsed customers toturnthemintoloyalcustomersandkeepsthembuyingfromasinglebrand. • Search andTracking

4. AI driven technology like text-to-speech and image recognition helps consumers find what they are seeking more quickly. It remembers each user’s search preference upon each succeedingvisit. In addition to this, B2B industries can also use AI to track vehicle movement, and physical inventory with automated stock monitoring. It informs automatically when inventory is too low, or the product isnot shipped. It’s high time for B2B companies to adopt AI to capitalize on the lifetime value of their customer relationships. In order to survive and thrive in a cut-throat competition, get in touch with our AI experts at Cygnet on +1-609-245-0971or emailus oninquiry@cygnetinfotech.com.