Artificial Intelligence (AI) has been with us in a meaningful way for a decade now, covering virtually every area of business and driving significant investment.
AI investment has accelerated recently, with a study from KPMG finding that the rate of AI adoption has exploded during Covid-19. This is particularly apparent in the financial services, retail and technology sectors, where AI adoption has grown by 37%, 29% and 20% respectively. In addition, 61% of high-performing companies have increased their AI investment amid the pandemic, according to McKinsey.
One particular area in which AI technology is having a growing impact is B2B sales, providing support for sellers in increasingly complex sales environments. For example, AI-guided selling that combines human intelligence with machine learning can deliver a precise pathway to sellers in individual sales situations, and much-enhanced buyer experiences,
AI is accelerating the new era of B2B sales. Let’s take a closer look at how AI-guided selling is transforming B2B go-to-market (GTM) activities, what it means for the future of selling, and the impact it can have on long-term business success.
Digital sales support
B2B sales has evolved faster than ever before over the last 12 months, and the rate of change is increasing. Fuelled by the pandemic-induced disruption of 2020, the whole sales cycle is now increasingly online and customer-driven. As a result, B2B selling has become more complicated for both buyers and sellers.
On the one hand, increased competition in primarily digital channels. Buyers are constantly bombarded by content from a range of vendors, while sellers must work harder to differentiate. On the other hand, buyers are taking even more control of the customer journey. They are relying on online content and tools to research, compare and move towards a purchasing decision before they interact with a salesperson.
In addition, sales teams are under pressure to optimise their GTM activities to meet business targets. More than half (51%) of businesses have increased their revenue targets for 2021, while 81% identify business growth as being a top priority. And the data suggests that these trends will continue, pointing towards a highly-pressured, digitally-focused future driven by customers.
This is all forcing sellers to adapt. They are having to shift towards becoming sales facilitators and advisors, with a deep understanding of their buyers’ challenges and needs. What’s more, having access to a rich portfolio of sales and marketing content that provides guidance to buyers, directly addresses their specific pain points and has been proven effective is now essential.
The good news for sellers is that AI-guided selling can help them navigate the complexity of digital-first sales cycles and meet demanding targets. With AI by their side, GTM teams will be better equipped to make the most of every revenue moment.
An AI-powered sidekick
The key to unleashing the power of AI in B2B sales is data. Every buyer engagement generates data – such as how buyers interact with specific content – that provides insights into the effectiveness of sales activities. When this type of contextual data is collected and analysed at scale, it becomes incredibly valuable as it helps identify patterns, behaviours and insights that lead to new revenue opportunities.
Rather than replacing traditional seller engagement, AI-guided selling will empower sellers to work smarter by transforming large-scale data from content analytics into intelligent insights and recommendations. Sellers will still have to make use of empathy and social skills, while leveraging the proactive advice of their AI digital assistants to ensure they take the most effective actions at any given point in the sales cycle. AI can even go one step further and help sellers take those recommended actions that are more likely to advance buyer conversations.
Taking financial services as an example, AI has a key role to play in improving the relationship financial advisors and wealth managers have with their clients. With financial services becoming intensely competitive as clients move away from the traditional human interactions in favour of digital services, AI systems can empower financial advisors to personalise each interaction to deliver differentiated and engaging customer experiences consistently at scale.
This largely centres around guiding financial advisors with key sales recommendations that are informed by real-time data. For example, the AI system could pull together customised content for meetings using up-to-date analysis of content and channel performance. Or it could take on tasks such as writing, tailoring, or converting content for specific channels, enabling financial advisors to improve the way they engage current and prospective clients.
With these benefits in mind, it’s clear that AI-guided selling is here to stay. With AI technology at their side, B2B sellers in all industries will finally be able to eliminate the guesswork from their engagements and focus on building stronger customer relationships that drive business growth.
