20/7/2020 How Artificial Intelligence (AI) and Machine Learning (ML) are helping to boost B2B eCommerce?

rning (ML) are helping to boost B2B eCommerce? | VARStreet Inc

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How Arti cial Intelligence (AI) and Machine Learning (ML) are
helping to boost B2B eCommerce?
Nov 11, 2019 Topics: E Commerce (Https://Blog.Varstreetinc.Com/E-Commerce/) Reading Time: 4 minutes

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20/7/2020 How Artificial Intelligence (AI) and Machine Learning (ML) are helping to boost B2B eCommerce? | VARStreet Inc

Convenience is a major factor

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mortar stores. Consumer behaviour is vastly di erent for di erent platforms, such as B2B and B2C enterprises.
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Customer relationships are(https://blog.varstreetinc.com/)
generally short termed when it comes to B2C, while B2B platforms enjoy a long term
relationship. Such di erences also result in di erent challenges faced by individual platforms. The B2B platform
challenges include the management of cash ow, inventory management, customization of products and setting
the price accordingly, and delivering an enriching customer experience. This is where Arti cial intelligence (AI)
and machine learning (ML) comes into the picture and can help to boost B2B ecommerce.
(https://blog.varstreetinc.com/how-to-increase-b2b-sales-via-ecommerce/)We already know how the big tech
companies including Google, Microsoft, Twitter, Apple, IBM, Qubit, Intel, Pindrop, etc. are enjoying the bene ts of
implementing AI and machine learning. However, several less well-known companies have started to either
develop or use machine learning in interesting and innovative ways.
AI and ML, e ectively help to raise the standards of operation of B2B ecommerce, to e ectively meet the rising
demand as well as the rising expectations of customers. The advantages provided by these platforms are diverse
and are e ective in providing the user with a competitive edge over their counterparts. Companies are e ectively
tackling questions such as how to use arti cial intelligence (https://blog.varstreetinc.com/ways-to-use-arti cial-
intelligence-in-e-commerce/), how to use machine learning by employing skilled labour or by taking the
assistance of third-party consultants to boost market presence

How AI and ML are helping B2B Ecommerce

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Customer Segmentation

AI (https://blog.varstreetinc.com/arti cial-intelligence-can-positive-impact-sales/) and ML are e ective in

customer segmentation. Customer segmentation is the ability to sort relevant data about customers and to map
customers accordingly by using this data. This saves time as well as e orts for the company. In the era of big
data, companies have a lot of data pertaining to their customers. The data may be about varied aspects such as
geography, demography, detailed purchasing behaviour among others. This data if not properly segmented is of
no use to the company. AI, can help to better segment this data and classify the customers and rank them
according to their probability of buying. One can easily go through these data points and then can chart out their
strategy accordingly.
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20/7/2020 How Artificial Intelligence (AI) and Machine Learning (ML) are helping to boost B2B eCommerce? | VARStreet Inc

Provide Better Customer Service

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Customer service is important to develop long term relationships with customers, something which is very
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important for the success of a B2B ecommerce platform (https://www.varstreetinc.com/varstreet-xc-ecommerce-
platform/). Customer relationship can be developed by using strategies such as prompt and positive reply,
assistance, etc. In the recent past, AI-powered conversational entities have been developed which further
strengthen the customer service aspect. Intelligent assistants, chatbots, for example, assist customers over their
entire journey of purchase. In addition, they make the whole process interactive and informative.
Some of the queries may be complex, and cannot be solved by these chatbots or intelligent assistants. In such
cases, companies transfer such queries to the customer service executives, which may then take up the matter
personally and try to solve the problem. Although these AI tools cannot replace human sales representatives,
marketing executives and customer care representatives, they are bound to become an integral and
indispensable part of the whole customer service department of an organization.

Predict Buying Pattern

Machine learning and AI can e ectively predict buying patterns of customers and by analysing these patterns can
ultimately boost the sales of a company. The di erence between sales database systems and ML is that the
former can track purchases only with su cient data and the latter can predict the regular habits of a customer.
E orts have been taken in the recent past to blend natural language processing with predictive analytics. These
e orts have made it possible to predict future choices of consumers as well as their shopping behaviour. The
amalgamation of ML as well as AI, in B2B ecommerce platform, has resulted in customer getting relevant
suggestions about di erent products and the techniques are becoming increasingly instrumental in
di erentiating buyers from visitors.

O er Personalized Experience
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20/7/2020 How Artificial Intelligence (AI) and Machine Learning (ML) are helping to boost B2B eCommerce? | VARStreet Inc

The AI and ML are instrumental

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for each buyer. The recommendation engine has speci cally made this entire process easier. The alignment of
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products on display, with the interest of the customer, is particularly necessary for any ecommerce platform to
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boost sales (https://blog.varstreetinc.com/Improve-sales-intelligence-by-combining-your-CRM-with-AI/). AI and
ML, analyse the past shopping history as well as shopping details to display products of interest to the buyer.
They are also instrumental in implementing dynamic pricing for B2B customers, as the value of the transaction is
high in such cases.
Recommendation such as warranties, guarantees, discounts, etc. can also be facilitated by using ML and AI. Due
to this personalization feature, AI and ML, can recommend upsells as well as cross sells of products to boost the
overall revenue of B2B ecommerce platforms.

Simpli ed Product Search

The introduction of ML and AI has reduced the consumer dependence on text, to search for the products of their
interest. Novel features have been added to assist customers in their e orts to search for their product of choice
and have reduced dependence on text-based search engines. Text to speech feature has added speed and
convenience to the overall search experience. Digital assistants can be used for checking the availability of the
required product. Image recognition has also revolutionized the whole search e orts, in which an image is
uploaded which are then processed by an AI algorithm, which then gets back with the most relevant product
searches.

Informed Decision Making

AI and ML are instrumental in making informed decision making. They can analyses data and provide forecasts in
real time. Business owners, with the help of these forecasts, can take better decisions regarding the display of
relevant products to a particular customer, the pricing strategy that needs to be employed, and decisions
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20/7/2020 How Artificial Intelligence (AI) and Machine Learning (ML) are helping to boost B2B eCommerce? | VARStreet Inc

pertaining to discounts, warranty,

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performed by AI as well as ML, by processing every minuscule data of the customer available to the company.
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B2B ecommerce platforms(https://blog.varstreetinc.com/)
are in a better position to chart strategies regarding pre-sales e orts, post-sale
customization o ers and pricing, when they use ML and AI. They also help organizations to make decisions and
to map out strategies in cases of one to one personalization scale.
All in all, ML and AI thus with their advantages, are able to o er an enriching experience to the customers, thus
providing a quintessential edge to the B2B platforms employing the same.

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20/7/2020 How Artificial Intelligence (AI) and Machine Learning (ML) are helping to boost B2B eCommerce? | VARStreet Inc

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20/7/2020 How Artificial Intelligence (AI) and Machine Learning (ML) are helping to boost B2B eCommerce? | VARStreet Inc

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