Advancements in technology have been able to transform many sectors and job functions, including B2B sales. These advancements are usually exciting, but keeping up with them can be overwhelming. However, falling behind on the greatest and latest technology can leave you behind your competitors. Therefore, don’t allow that to happen. Here are some technological advancements that have benefited B2B selling:
1. Geofencing
This is the use of radio frequency identification (RFID) or global positioning (GPS) in defining the geographic boundary. Many companies are making use of the technology to come up with virtual barriers to be used for purposes of marketing. Getting into or leaving these barriers can trigger promotion notifications such as app notifications, email alerts, and text messages on smartphones.For Instance, RV owners who enter a certain geographical market of an indoor RV storage company may receive targeted promotions.
One business providing this service is Propellant Media that offers advertising services that are location based to agencies and businesses. This form of marketing can be used at locations of competitors, stadiums, music events, popular intersections, office buildings, and athletic games. Moreover, event visitors keep receiving these adverts for up to one months after the end of the event to make sure the promotion campaign has a long-lasting impact on potential clients.
B2B companies are using the technology at trade shows and industry conventions to improve sales. Usually, the expense of running an advertising booth at these events is high. However, through a geofencing campaign, B2B companies can reach the participants of the events without a physical presence. These events at times offer mobile advertising space as a means for B2B firms to reach potential clients.
2. Artificial Intelligence (AI)
For a long time market analysis has been significant for firms that want to increase sales and learn about potential clients. At the moment, businesses are partnering with B2B advertising companies, such as SirusDecisions, which use AI to offer business intelligence. Such partnerships offer businesses the chance to learn client purchase behaviors and find the best way to impact potential clients. These firms use AI to learn the preferences of the buyers, put the information in context and determine the intent of the buyer. Through this data, firms are able to make decisions and predictions that result in increased sales.
B2B companies use AI to get data regarding buying teams. The technology filters through the organizational charts of a firm and determines the staff that makes purchase decisions. It can also analyze past purchases the firm has made, showing trends and assisting in determining what can appeal to the company. Moreover, AI can determine the buying cycle of a company to ensure B2B companies are making promotions to potential customers at a period they are likely to buy.
3. Applications
There are many mobile apps made to increase traffic in traditional business locations. Firms that partner with these apps are able to reach potential clients more than traditional advertising can. An app like WisePass connects clients to businesses that offer various entertainment services via paid membership packages.
Members receive a daily offer like a five-star restaurant meal or alcohol at a bar. The app additionally lets holders of cryptocurrency purchase services and goods at partner locations. It aids to connect the 10M holders of cryptocurrency to the economy. Businesses can use such apps to generate traffic during slow periods or to focus on a particular group of customers.
Similar to WisePass, there are many food delivery apps such as GrubHub that assist restaurants to increase their market reach. These apps earn revenue through charging restaurants a small fee on every order made via their platform. Through these partnerships, restaurants are able to increase traffic by reaching clients who would not have otherwise found about them.
Companies like WisePass and GrubHub are using technology to increase revenue for their partner businesses. Through partnering with these companies, businesses can grow beyond their expectations.
If you are a business looking to use technology to bridge the gap between businesses and customers, there is no better time to do it. Businesses will always want to increase their reach to the market, and they will use every opportunity availed to them.
