Geert Leeman, chief revenue officer, SAP I&CX

Almost two-thirds of retailers (64%) are pouring money into generative AI, according to IDC research. Implementing this technology has had challenges, like IT complexity and talent shortages, so how can businesses ensure that their investments will deliver the best possible benefits and, ultimately, profitability?

Most generative AI technologies, like customer support chatbots, natural language understanding and content generation, tend to skew toward B2C applications, funneling consumer information directly from the source. However, AI use in B2B contexts is becoming more and more common — helping companies prioritize customer nuances that will position them to thrive in this dynamic landscape.

This year has already been transformative for businesses implementing AI, but the industry has still only scratched the surface. Looking ahead, companies can lean on three key strategies to open a new chapter for AI in the world of B2B.

Unified Data for Improved Service

Nearly two decades of research shows anywhere from 20% – 70% of CRM projects fail. The primary reason is companies use them for a range of business intelligence needs rather than for improving the sales process with capabilities that front-line sales professionals will use to win new business.

This lack of integration across the enterprise highlights the importance of unified business data — and how AI can use it to drive customer success. By uniting front- and back-office data in one place, AI can generate customer profiles for teams to reference. Analyzing such data as past purchases or service history, teams across the enterprise gain access to a complete picture of the customer to quickly and accurately understand their preferences.

AI can even help marketers reduce the time it takes to find and insert specific products across their campaigns that reach their customers — using keywords to map product catalog fields and bring the search time down from hours or days to seconds. This AI technique enables a unified and exemplary experience for the customer.

Further down the line, insights on fulfillment, business processes and data from all customer touchpoints can help companies review their performance more clearly when developing a 360-degree view of customers, helping companies to run a better business.

Customer-Oriented AI Solutions

When it comes to customer experience trends, especially within B2B, it’s not one-size-fits-all. What works for a manufacturing company may not be best for a retailer. But at the core, every company’s CX strategy must address their customers’ unique needs and pain points. AI is making industry-specific solutions easier.

AI-driven personalization is helping businesses gain a competitive edge in a landscape where tailored solutions will be critical in driving customer satisfaction. With connected enterprise insights powered by AI, businesses can make informed decisions at all levels in the organization.

For one metal supplier, dedication to customer satisfaction manifested in the creation of a first-of-its-kind metals and plastics catalog marketplace — expanding from a pure retail approach to wholesale operations. With customers that span artists and engineers to multinational corporations and government agencies, this catalog opened the door for manufacturers to directly buy and sell products.

AI makes the arduous task of managing such a catalog easier as well. When items are not tagged properly, they don’t show up in searches and create incomplete results that could have been converted to valuable sales. Managers can use AI to review tags and generate customized descriptions that will make products more visible and discoverable. The result: customers can make the right product choices for their needs.

AI-Powered Data Security

In today’s business environment, loyalty is currency. Over one fifth of U.S. consumers show their loyalty by signing up for subscriptions from companies, according to SAP Emarsys research.

Customers recognize the value exchange here. For companies, that subscription unlocks new helpful data that can better predict their preferences.

In return, customers expect something meaningful. That could include early access to new products and a range of other perks.

The same approach applies to the B2B environment, using communications with customers to bolster the relationship. However, as AI solutions become more pervasive, companies must take care to ensure their uses are relevant, responsible and reliable.

In an email environment, AI can offer capabilities like context-specific subject lines and engaging preheaders based on client knowledge — all directly within a user’s email editor. Other capabilities like AI-generated customer profiles can enable sales teams to offer personalized service.

But the data informing those profiles and communications must be used in an ethical manner, with personal details obfuscated to prevent biases. Just as AI can generate this content, it can also play a role in strengthening the security of end-user data. Through secure data retrieval and pre-empting threats by analyzing interactions and inputs across digital channels, AI can offer an important shield to keep customers protected.

Ultimately, the excitement around AI shouldn’t be focused solely on consumers. B2B applications continue to grow in scope and size. With the right AI capabilities embedded within their CX technology, businesses can significantly improve customer retention, build stronger relationships and improve their bottom line.

About the author:

Geert Leeman is the chief revenue officer of SAP I&CX, a software line of SAP SE.

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