How does Big Data and B2B Environments shape Sales & Marketing Strategies

How does Big Data and B2B Environments shape Sales & Marketing Strategies

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INFOCLUTCH | NOVEMBER 17, 2017

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The execution of strategies within B2B and B2C businesses share common traits particularly in areas of relationship management with suppliers, clients, and partners. With the thinning of barriers that delineate the two, customer management model continues to remain unvaried.

A majority of the B2B research indicates that the growth in B2B businesses depends on the consolation of valid consumer data and a good follow up practice.

Consolidation has emerged as a pillar to digital ecosystems. Leading brands such as Apple, Amazon, Google, and Facebook strongly emphasize the business model that funnels technology from numerous sectors into a single system that caters to many clients. Many start-ups are replicating the business model followed by these tech giants.

Moving into the future, the B2B ecosystems will be conditioned to provide the customer experience on par with the B2C industry. Marketers are proactively implementing personalization on all levels of customer engagement.

By providing critical insights to customers, B2B marketers are aggressively segmenting audience for seamless distribution of customized marketing campaigns. The B2B environments thrive by targeting segmented audience across multi channel networks.

A sustainable B2B environment is a cornerstone for building highly commercial customer acquisition programs. It is achieved by optimizing the touchpoints that make customer journey a seamless experience. The key ingredient to a successful B2B marketing is the management of Big Data that would optimize the experience.

What is a B2B environment?

A B2B environment comprises of entities and processes that are critical to revenue generation within the system. The fundamental aspect of a B2B environment is the interdependence. The stimulus for the coexistence of all entities within the system depends on the value propositions. The B2B environment is made of components such as:

  • Customer Relationship Management
  • Order management
  • Enterprise Resource Planning
  • Marketing Automation
  • Product Information Management

Based on the type of B2B business, more components that are not included in this list may be used.

The Influence of B2B Environment in Sales and Marketing

B2B markets have undone outdated practices and absorbed newer trends in the past decades. Despite the paradigm shift in the practices, the marketing goals more or less remain untouched.

The arrival of new marketing channels and differing demographic behavior pose unique challenges to B2B marketers. Sometimes, reworking policies from the ground up to accommodate unified marketing model leads for bettering the outcome.

A unified marketing model consolidates marketing and sales divisions of B2B businesses leading to a better level of coordination and data sharing.

The customer centric data is scattered across various systems in the B2B realm. To impart high-quality customer experience, marketers attempt syncing various components of B2B to close the gap between relevant solution and consumers.

Taking advantage of the well networked B2B environment, marketers are in a position to do the following:

A B2B environment comprises of entities and processes that are critical to revenue generation within the system. The fundamental aspect of a B2B environment is the interdependence. The stimulus for the coexistence of all entities within the system depends on the value propositions. The B2B environment is made of components such as:

Cross selling with customer insight
B2B brands steer their campaigns by leveraging every piece of information aggregated from the previous occasions. With extensive data available at fingertips, it is possible to promote related products or services that could bring value to the customers.

Providing personalized experience
Businesses that focus on providing more meaningful experience to customers through personalization stay on top of clients mind. When a user visits a website, the longer it takes to navigate to an appropriate solution, greater are the chances for the prospect to ebb away. Make it intuitive for users to find what they are looking for right from the initial visit.

Optimize the touch point where customers place order
Using buyer information and historical transaction data businesses can maximize the value of every new product to stimulate customer’s attention and the frequency of order placement.

Coherent management of content
It becomes easier to control the data within the Content Management System (CMS). Content can be chiseled to render correctly into an array of devices across many cross channel platforms. It significantly contributes towards lead generation.

It expedites lead nurturing
Marketing automation tools provide a consolidated view of all activities and businesses can leverage its potential to track and analyze demographic behavior to capture potential leads that can be turned into customers quickly.

Shaping success in B2B environment with leadership

In a B2B environment, from inception to conception every task is accomplished by the interdependence of all entities and processes. Hence, for successful implementation, it calls for the attention of company chiefs who are pivotal in its realization.

A fully consolidated environment goes a step ahead of organizational limits; it mandates organization to look up to technology providers while collaborating with several entities within the B2B environment. Hence, planning and implementation of the B2B environment is a long term process that begins with deep commitments from the individuals at the higher ranks of organizations.

B2B environment is the hub of innovation

Similar to the social network, B2B environment represents itself as an innovation hub where the system takes advantage of connections to advance with fresh ideas and problem resolutions constructively. Many times, the accomplishments are made by collaborative efforts rather than individualistic approach.

In the B2B environment, sales and marketing are rarely seen as two separate elements. Every sales and marketing operations are interdependent while taking advantage of other roles to aggregate latest customer data. Exploring the depths of B2B collaborations can extend your marketing reach to communities that otherwise cannot be reached in person.

With the expansion of technology in every walk of life, collaborative solutions are gaining greater prominence. Intuitive systems such as Internet of Things (IoT), Artificial Intelligence, and several automated systems are taking center stage in the B2B environment to improve the relationships with customers, business partners, and suppliers.

Data centralization allows versatile management of business intelligence along with greater coordination throughout the customer journey within sales cycle.

Conclusion:

In B2B realm, collaboration is the pillar of successful operation. Technology solution aids in the execution of every business aspect. With the technology conglomerate evolving in leaps and bounds, it is accommodating advance technologies such as enterprise cloud which was once exclusive to the B2C industry.

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