There are essentially three stages to any buyer’s journey – Awareness, Consideration, and Decision.
It seems simple enough when you break it down like that, but the reality is there are a lot of nuances that go along with this.
A prospect at the Awareness stage requires different information than the prospect at the Consideration stage. The content you create and offer must be tailored to the specific prospect and the stage they’re in.
And then, there are many data points that can help you flesh out who your prospects are and personalize your offer – job title, buying power, location, industry, behaviors, and so on.
With the help of Artificial Intelligence, it is possible to increase your efficiency in terms of the time and effort it takes to determine where your prospect is on their buying journey and what information they require right now.
The Importance Of AI
According to Demand Gen Report, 80% of B2B marketing executives believe AI will revolutionize the field in the next five years. But only 10% are using AI applications.
This suggests that many companies are missing out on a significant opportunity to capitalize on modern technology.
As competition continues to increase, it’s going to prove far more challenging for businesses to outpace competitors and other companies in their industry. AI could be the competitive advantage companies need to stay ahead of the curve, and even remain relevant.[Related] Report: The State of AI in B2B Marketing
How AI Helps the Buyer Make a Decision
With machine-learning, AI can learn a buyer’s habits, preferences, and behaviors. This enables marketing professionals to offer a more personalized experience for each prospect.
In application, as customers are browsing products, they will begin to see more relevant and tailored recommendations on other products they might be interested in. Customers will have an easier time finding what they’re looking for, and receive more tailored recommendations based on their needs and interests.
How AI Helps the Seller Learn About the Buyer
A smart marketer knows it’s much less expensive to sell to their existing customers than to acquire new ones.
Increasing the lifetime value of each of your customers should be your top priority, but the steps you need to take aren’t always that obvious.
Imagine being able to tell your sales team which of your products customers find most valuable, which are most ready to purchase, which are more likely to buy from competitors, and what the optimal price is for each transaction. With the help of AI, you can.
Why AI is Not Enough
AI is a powerful tool that allows you to make better use of your data, enhance customer interactions, deliver personalized experiences, and help your customers find exactly what they’re looking for.
But there’s something missing from the equation – namely, human intelligence.
AI has its limitations, though it will continue to advance and improve.
AI advancements will only underscore the importance of human intelligence. While AI can free sales and marketing teams from having to manually append data in CRMs and marketing automation systems, this should allow them to focus more on human interactions and not less.[Related] Cheatsheet: How to Find the Right AI Platform for B2B Sales and Marketing
Soon, it will be critical for companies to tap into the power of AI – not just to thrive, but also to survive. Many B2B customers are already coming to expect a personalized buying experience and are even demanding it. For best results, combine the strengths of AI with human intelligence to enhance your relationships with customers.