How does Artificial Intelligence help B2B Sales?
Artificial intelligence (AI) in sales: AI helps customers and is rapidly revolutionising the world of B2B sales.
With the ability of AI to analyse vast amounts of data and make complex predictions, AI has the potential to improve the efficiency and effectiveness of sales teams significantly.
In the coming years, advances in AI, machine learning and digitisation will replace many of the time-consuming tasks that sales teams are performing today. This game-changing trend will also affect sales management. AI will redefine sales management.
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Types of machine learning (ML)
What is machine learning and what types of machine learning exist?
As part of artificial intelligence (AI), machine learning (ML) is a subcategory interested in processing and learning from vast amounts of data. It does this to make predictions that can help performance improve around a specific goal. These goals could be around forecasting, associations, clusters, regression and more.
Today, we’ll review the different kinds of ML that exist, what they are best used for and any downsides to the algorithms in this 7-minute read.
How to Realise Sales Potential with Cross- & Up-Selling in B2B Sales.
Cross-selling (also known as cross-selling) the sale of an additional product or service to an existing customer. Targeted and individually adapted to the needs of the customer, cross-selling increases customer satisfaction and is a service-oriented way to increase turnover.
"Cross-selling" offers a possibility to use internal synergy potentials and to open up rapid, attractive growth opportunities.
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The Top Challenges Facing the Wholesale Trade in Germany
What are the challenges faced by wholesalers in Germany from the point of view of their salespeople?
The wholesale trade in Germany is a vital sector of the economy, generating billions of euros in revenue per year. According to the Federal Statistical Office, the number of companies in wholesale trade (excluding trade in motor vehicles) in Germany has fallen continuously in recent times, most recently to around 135,000 in 2020. Turnover in wholesale trade also dropped this year to approximately 1.24 trillion euros.
SMEs represent around 99 % of all companies in wholesale in Germany. Among them, speciality wholesaling, also called specialist wholesaling, focuses on a specific product group and does not offer a wide range of products, as with assortment wholesaling.
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How to Define and Reduce Customer Churn in B2B Sales
Customer churn in B2B refers to a portion of subscribers or contract customers who change suppliers during a certain period of time. In B2B practice, some churn goes unnoticed for a long time or is only detected when it is already too late.
Have you ever wondered how you can reduce the likelihood of churn and target B2B loyalty programmes?
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The Role of Artificial Intelligence in B2B e-Commerce
The rise of E-commerce in B2C is mind-blowing. For example, the online giant Amazon made revenues of almost half-a-trillion dollars for the twelve months ending September 30, 2022. And as the number of physical shops declines, e-commerce is becoming increasingly important.
Take Germany. Between 2015 and 2019, 5,000 physical shops were closed yearly in the country. Between 2020 and 2022, up to 47,000 more shops and branches will follow. Meanwhile, online sales are booming. In 2015, online sales were €39.9 billion, but by 2021 they had risen to €86.7 billion, with a forecast of €97.4 billion in 2022.
Artificial Intelligence Software Development: The True Costs.
The question is no longer "if" a B2B company will implement artificial intelligence (AI), but "how".
AI tools enable more efficient work in many areas. B2B sales is no exception. Artificial Intelligence Sales Software saves time, stress and costs, while improving customer lifetime value and experience.
Companies that do NOT adopt AI-powered tools will be significantly more inefficient than their competitors and will be left behind.
Since you are here, my guess is that your already know that. For that reason, let’s focus on the “make or buy” decision and park the benefits of AI-powered software in another article.
How Artificial Intelligence and Machine Learning can Help in B2B Sales
Expand your expertise on the basics of artificial intelligence (AI) and machine learning (ML) in B2B sales.
You want to tap your potential in B2B sales and have got a taste of AI through applications like ChatGPT? Various applications of artificial intelligence are gaining strong popularity - also in the B2B sector.
The benefits of AI in business practice are undeniable. But despite this, there is still a lot of ambiguity surrounding the topic of "artificial intelligence", so it is not easy to grasp.
In the Qymatix online course on "the Basics of Artificial Intelligence and Machine Learning in B2B Sales", you will learn what exactly AI and machine learning are all about and how such systems can support sales.
Note: the course is only available in german language.
AI Washing: AI or not AI, That is the Question
What is AI Washing? How bad is it? How can you prove it, and what can companies do about it?
"AI Washing" is a company's marketing effort to advertise that their products or services contain artificial intelligence, even though this is only weakly the case, if at all.
"As AI accelerates up the Hype Cycle, many software providers are looking to stake their claim in the biggest gold rush in recent years," says Jim Hare, research vice president at Gartner. "AI offers exciting opportunities, but unfortunately most vendors are focused on the goal of simply developing and marketing an AI-based product, rather than first identifying the need, potential uses and business value to customers."
Gartner analysts see "AI Washing" as one of the main problems hindering the actual development and adoption of AI in enterprises. How can sales executives trust a vendor?
Qymatix Academy celebrates its Relaunch
Karlsruhe, 27.04.2023. Qymatix Solutions GmbH is pleased to announce that its Qymatix Academy has been relaunched. The Academy now features an improved UX design with additional newly recorded videos. In each course, participants will also receive clear scripts that summarise the content. After the final quiz, participants acquire a certificate for each course!
Qymatix Solutions GmbH wants to share the knowledge and practical experience of AI in sales through the Qymatix Academy. The content combines the two specialist areas of "artificial intelligence & predictive analytics" and "B2B sales management or sales practice".
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