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Warming Up the B2B Cold Start with AI

Jeri Kelley
November 28, 2017

2 minute read

Whether sales is making a cold call or a buyer is visiting a website for the first time, Adaptive Intelligence (AI) allows businesses to provide a personalized and engaging experience out of the gate. Consider the following:

41% of consumers believe artificial intelligence makes their lives easier.

80% of B2B sales organizations find personalized interactions to be most effective with buyers.

AI can be used for both online and offline sales transactions to improve conversion rates, order value, and customer satisfaction by providing more relevant offers and products without the need to write manual rules. Leveraging AI can help overcome the typical cold start problems most personalization solutions have where little is known about new buyers. Have you ever found yourself in the following cold start scenarios?

• Onboarding a new account where there is no purchase history

• Turn over of buyers on an account where a new buyer has no browsing or purchase history

• Introduction of a new product where there is no rating, review, and interaction history

• First time configuring, pricing, or quoting a product

With AI, B2B companies can anticipate the needs of their buyers and offer more relevant recommendations on products, warranties, and supporting content, anticipate reorders, and automatically configure products and quotes to match past requests.

When considering AI, here are a few tips for B2Bs to keep in mind:

• Make sure any AI you leverage can be used consistently beyond commerce; don’t create silos. Connected experiences should be able to be created across commerce, marketing, sales, and service.

• Investigate the data sources used to power your AI. AI is only as powerful as the data behind it. In order for AI to be effective, it needs to be informed by quality third-party, contextual, and first-party data.

• Say “no” to black boxes and closed systems. There are always situations requiring human intervention; AI should provide supervisory controls for marketers and commerce professionals, and be exposed via APIs for developers to leverage in new channels of innovation.

Learn how can CX professionals strike a balance and provide a personalized experience without crossing the line into creepy in “When Does CX Personalization Become Creepy?

 

 

This article is co-authored by Bob Meixner.

Bob MeixnerBob Meixner is a Senior Strategist at Oracle. He is focused on omnichannel, AI-driven commerce, and marketing. Bob has been helping businesses optimize and scale their digital experiences for 13 years. He resides in New York City and when he’s not talking about digital customer experience, he can found navigating the boutique fitness studio scene.

Jeri Kelley
Jeri Kelley lives in Montana and loves cooking, running, and skiing - especially the après-ski part. Jeri is a Sr. Product Strategist at Oracle and has over 15 years experience in ecommerce, marketing, and digital strategy. Part of the Oracle CX group, she helps B2B brands build and enhance their digital commerce footprint.
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