Commerce changed in 2018 – and brands and consumers both came out winners.
It was a great holiday for retailers. A record holiday, in fact. Seasonal sales grew 5.1% to hit their highest level in 6 years, buoyed by 19% growth in digital purchases. As eMarketer principal analyst Andrew Lipsman presciently told CBS MoneyWatch last month: “Really, it’s the story of strength at brick-and-mortar retail and e-commerce.”
The future of B2B is consumerized and therefore personalized. At least, that’s the takeaway from industry leaders with whom I shared the stage for a keynote panel on digital transformation at the recent B2B Online conference.
As we discussed the internal challenges and external forces confronting the industry, a dominant theme emerged: Personalization is the only way to drive differentiation and growth for B2B companies who want to become the Amazon of their category … before Amazon is.
CMO Mike Ni featured as keynote panelist on digital transformation through AI-driven personalization
San Francisco, Calif. – Nov. 9, 2018 – RichRelevance, the global leader in Experience Personalization, today announced that CMO Mike Ni will share strategies and insights on B2B personalization at the upcoming B2B Online conference on November 12 – 14, 2018 in Miami, Florida.
Ni will participate in a keynote panel on “The Digital Transformation Of The B2B Industry: A Close Look At Future Growth Opportunities” alongside executives from Ferguson Enterprises, Agilent, and Genuine Parts Company. The discussion will provide insights into how B2B companies can stay relevant and competitive in a rapidly evolving landscape, including the critical role of AI-driven personalization in meeting new customer expectations for the B2B experience and treating every business – and every buyer – as an individual. The panel takes place on November 12 from 8:55 – 9:25 am ET at Turnberry Isle Miami.
In the first blog post of this series, we discussed how AI promises to finally deliver true personalization – individualized experiences created dynamically and at scale. In this post, we will discuss how marketers can apply AI to every stage of the customer lifecycle – and share stories of brands who have done it successfully.
We’ve spent a lot of time this year talking about powering personalization for the new Experience Economy, and the need for companies to rethink their core value in a world where companies compete on the memorable customer experiences they provide, not the products they sell. Now, we can add a new number to the conversation: $800 billion.
Google’s Kiran Mani dropped this stat during her recent Shop.org session on How Machine Learning Can Help You Deliver Better Customer Experiences:
Even as transparent pricing and rising B2B buyer expectations compress business margins, leading B2B sellers are leveraging eCommerce to complement traditional channels and drive digital revenue growth. At the same time, most B2B digital experiences struggle to match B2C experiences. Endless catalogs, nuanced contractual requirements, multiple buyers, integrated account managers and complex buying processes increase complexity to both buyers, as well as sellers. B2B leaders are turning to personalization to simplify, guide, and differentiate.
Matching what we are hearing from the market, B2B executives from across multiple B2B verticals see digital as a primary driver of their growth strategy and expect the majority of their products to be sold online in the next five years, according to a study of business leaders in the United States and Europe. Digital commerce will become the dominant channel in that time period, moving beyond “secondary” status, according to a new report titled Why Digital Will Become the Primary Channel for B2B Engagement.
They’re Coming for You Next: Amazon Hits $10 Billion in B2B Sales
In another amazing growth story from the giant in the Northwest, Amazon has gone from $1 billion to $10 billion in online B2B sales in less than 3 years. If Amazon didn’t get onto the radar of B2B players with their announcement of Amazon Prime for Business, then they should have gotten their attention with their latest announcement: Amazon Business tops $10 billion annual revenue run rate.