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B2B Companies Create Innovative Sales Solutions Through Technology

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According to a report released earlier this month, 90% of B2B merchants expect e-commerce sales to increase in 2018. The report, published by BigCommerce, an e-commerce platform, is the result of a March survey of 525 merchants.

Of the respondents, 80% currently accept B2B orders online, and over three-quarters of those have been enabling e-commerce purchasing for at least two years. Additionally, 83% of the B2B respondents that did not yet have an online sales channel said they expect to create one within the next 24 months.

The companies seeing the most growth are embracing B2B partnerships to develop and maintain websites, build web-based strategies and leverage web assets to increase sales. To fill this need, more B2B companies than ever are coming up with innovative solutions that can help businesses increase online sales. Here are three ways B2B partnerships can help increase traffic on websites and at brick-and-mortar locations.

Geofencing

Geofencing refers to the use of global positioning (GPS) or radio frequency identification (RFID) to define a geographic boundary. Many businesses are using this technology to set up virtual barriers that can be used for marketing purposes. Entering or exiting these barriers can trigger marketing notifications on mobile devices like text messages, email alerts or other app notifications.

One company offering this service is Propellant Media, which offers location-based advertising services to business and agencies. This kind of targeting can be used at competitors’ locations, stadiums, athletic games, music events, office buildings and even popular intersections. Additionally, visitors to these events can continue to receive messaging for up to 30 days after the event has ended, ensuring the marketing campaign has a long-lasting effect on potential customers.

These marketing services can be beneficial to B2C companies but they are also valuable for B2B companies. A number of B2B companies are using geofencing at industry conventions and trade shows to increase sales. Often the cost of running a promotional booth at one of these events can be high. But by setting up a geofencing campaign, B2B companies can reach event participants without physically being present. These events sometimes offer mobile advertising space for purchase as another means for B2B companies to get in front of potential customers.

Artificial Intelligence

Market analysis has long been useful for companies looking to learn more about potential clients and to increase sales. Now, companies are partnering with B2B marketing companies, like SiriusDecisions, using artificial intelligence to take that analysis one step further. By partnering with AI market analysis companies, businesses can learn more about customer buying behaviors and determine how best to make an impact on potential customers. SiriusDecisions can use this technology to learn about buyer preferences, put this data in context and determine a buyer’s intent. By using this information, companies can make predictions and decisions that help drive conversions.

AI can also be used by B2B companies to gain information about buying teams. This technology can filter through a company’s organizational charts and determine which employees are responsible for making buying decisions. It can also analyze past purchases the company has made, revealing trends and helping to predict what might appeal to the company. Additionally, AI can be used to determine a company’s buying cycle so that B2B companies ensure they are marketing to potential clients at a time when they are actually interested in buying.

Strength In Numbers

While a lot of the new tech innovations are designed to work hand-in-hand with e-commerce sites, there are a number of mobile applications designed specifically to increase traffic at brick-and-mortar locations. Companies that partner with these apps can reach potential customers in ways beyond traditional advertising efforts.

There are applications like WisePass, an app that bridges the gap between businesses and consumers by connecting users with diverse entertainment services through paid membership packages. Members get a daily offer such as a meal at a five-star restaurant or a bottle of alcohol at the bar. The app also allows cryptocurrency holders to buy goods and services at partner venues, bridging 10M cryptocurrency holders to the real economy. Businesses can use such apps to increase traffic during slow times, or to target specific categories of customers.

"Through its monthly subscription, WisePass has built a service that can drive traffic to partners consistently without cutting off their margins, unlike Groupon. The company sends traffic to outlets through its recommendations system powered by machine learning that combines a set of data such as location, time, market trends and demographics,” says Lam Tran, WisePass CEO. “To ensure the best user experience, each venue gets ranked differently based on that set of data so the user ends up having the most relevant recommendations."

There are also a number of food delivery apps like GrubHub that can help restaurants increase their reach. These applications make their money by charging restaurants a small commission on each order made through their platform. By partnering with these groups, restaurants can gain a signal boost and get in front of customers who might not otherwise know about them.

Companies like these are using technology to increase sales for the businesses they work with. By partnering with them, businesses can see growth in areas they never expected.

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