It is nothing new that ecommerce selling is poised to be the new normal in the coming years. It is also true that most people have gotten quite comfortable with AI in their everyday lives and are now using it during shopping.
It’s proven that 20% of customers use chatbots to shop an,d 40% use them to find better deals and offers. Of the money invested in ecommerce, 20% is in the implementation of AI.
By 2021, this is expected to go up to approximately $49 billion. Moreover, Gartner predicts that as 2020 ended, over 80% of all interactions in customer relationship management would be managed via AI.
These are some pretty impressive numbers, and they apply in B2B ecommerce too. Frost & Sullivan had already predicted that B2B online sales would reach $6.7 trillion by 2020.
More and more B2B sellers migrated to ecommerce platforms online from the traditional on-premise systems. B2B ecommerce had long surpassed B2C ecommerce, being over three times the latter’s size by the end of 2017 itself.
Customers in the B2B ecommerce market have slowly started favouring B2C trends and practices conventionally.
As a result, there has been a steady shift in B2B ecommerce features to accommodate these changes in the B2B buying behaviour.
One of the ways this has manifested is the widespread integration of AI technology in B2B ecommerce software. It is valid for the Salesforce B2B ecommerce platform too.
Salesforce uses Einstein AI to power its processes, including its B2B ecommerce portal, called the Salesforce Commerce Cloud.
You will not have to explicitly do a Salesforce ecommerce integration of Einstein AI on your B2B commerce solution; it comes built into the B2B Commerce Salesforce platform.
Components of Predictive Intelligence in Salesforce B2B Commerce Cloud
It is known that personalized customer experience increases revenue and loyalty. With predictive intelligence powered by AI, you take this a step further.
There are five advanced ecommerce solutions or tools for Salesforce AI ecommerce implementation to optimize your B2B ecommerce sales process. These are as follows:
1) Einstein Commerce Insights
This is the analytical section of Einstein AI for Commerce Cloud. It provides valuable behavioural information throughout the B2B ecommerce customer journey.
The data can improve essential business outcome metrics and help increase customer retention and grow revenue.
Knowing beforehand what to expect in the next step of the ecommerce life cycle is very useful as it allows sales representatives to chalk out the buyer journey mapping and tailor the customer’s shopping experience.
Einstein AI collects three types of data – clickstream, product, and order. The Shopping Basket Analysis Dashboard allows reps to check the activity around each product and build up a solid B2B ecommerce strategy to increase revenue growth.
2) Einstein Search Dictionaries
Nothing is more disappointing than finding out that what you are looking for is unavailable or possibly not typing in the correct item. Keyword research is the backbone of SEO.
Similarly, Search Dictionaries is the backbone for correctly implementing AI by B2B ecommerce companies.
This feature registers every search that customers put in on the site and lists the popular ones that are not included in your current keyword list.
It will even provide recommendations and synonyms that you should add to the content on your site.
By doing so, you ensure that whenever your viewers and prospects are on your site, they never come up empty-handed during a search, even if they have typed the search term in incorrectly.
3) Einstein Search Recommendations
The B2B ecommerce marketplace has become an unpredictable one. So many variables are active at any moment that it is difficult to predict what a user wants. But it is not at all strict with AI.
The predictive intelligence of Einstein auto-completes and auto-corrects search terms based on the browsing and buying history of the customers, recent searches, and trending terms.
Whether you have used the current device only or have taken advantage of omnichannel B2B commerce, your past behaviour will have been recognized and used to provide personalized search recommendations when you use the platform again.
The older or more active a customer, the more the AI learns, and the more accurate its predictions are.
4) Einstein Predictive Sort
One of the most ingenious ways to bring personalization in B2B selling is to make sure that customers first see what they want.
Salesforce does this through the Predictive Sort feature. Its effect is primarily observed in search results and when viewing product categories.
When you search for a product or open a product page, the products displayed are curated and sorted carefully to ensure that the effects on top are the ones that accurately match your search intent.
By providing the most relevant object first, customers do not have to waste time searching for the right one.
This increases the chances of a successful sale and reduces the rate of customer churn significantly. Moreover, it frees sales representatives up to attend to more complicated, important tasks.
5) Einstein Product Recommendations
Like Predictive Sort, Product Recommendations also uses predictive intelligence to display the products to the customer they want to see.
Utilizing machine learning, the Salesforce Commerce Cloud platform creates product recommendations tailored to that customer’s needs and wants.
The predictive technology allows company reps to do intelligent merchandising by curating the customer’s products.
The reps do not have to manually go through sheet after sheet of data to manually implement recommendations and display products best associated with the customer’s intent, especially past behaviour, and other consumers’ usual trends with the same intent.
Whether a shopper is already registered with the company or not, they can take advantage of it to see the kinds of products the company sells.
How Predictive Intelligence Encourages B2B Ecommerce Growth
Different B2B companies have other objectives when utilizing AI’s predictive and analytical powers in their ecommerce operations.
However, the primary goals remain the same throughout. It is to gain a deeper understanding of how the market as a whole and as a combination of interconnected and interdependent business entities behave.
Once the system gets a reasonably accurate idea, one can use the detected patterns and logic to determine customers’ future actions and behaviour to keep ready what they may need and provide it immediately on cue.
With Salesforce Einstein AI, you can leverage the power of predictive intelligence and gain the following advantages:
- Provide Greater Personalization in Shopping Experiences – Einstein AI gauges customer behaviour and automatically shows product recommendations, sorts search results, and assists the shopper in reaching the product they want faster by personalizing their buying journey.
- Optimize And Improve The Work Of Sales Representatives – Einstein AI helps automate many of the routine and repetitive tasks that sales and service representatives used to do manually. It takes over the menial work, allowing the reps to focus on more specialized jobs, thus increasing the team’s productivity and efficiency.
- Increase Revenue Generated By Predicting Buyer Behavior – Customer churn and cart abandonment are serious problems that reduce revenue. By providing intelligent recommendations and tailoring the customer journey, Einstein AI increases the average order size and hikes up total revenue.
- Predict and Stay Ahead Of Otherwise Unexpected Market Trends – The B2B market can be highly dynamic and unpredictable. But with Einstein AI, these trends can be predicted and prepared for so that the business does not get blindsided at any point.
- Provide Omnichannel B2B CRM Wherever Customer Needs – Einstein AI is headless and can be facilitated in any channel the customer uses through APIs. It helps keep track of the customer journey throughout and without discontinuity, customizing their experience through the entirety of their interactions with the business.
AI has spread through the veins of technology in every industry and branch of commerce. Its predictive power puts businesses at an advantage in all fields and arenas, as laid out in detail in this blog post.
Whether you want to increase productivity or personalize your customers’ journey, master the B2B market or generate revenue growth, Salesforce Einstein AI can help you achieve that in your B2B ecommerce with its predictive intelligence.