How Generative AI is Shaping the Future of B2B Sales
The Evolution of Sales Tools
The realm of B2B sales stands on the cusp of significant transformation, driven by generative AI (gen AI). Traditionally, sales has focused on building trust-based relationships, finding opportunities to create value, and minimizing friction in customer experiences. What is new, however, are the advanced tools at sellers’ disposal, especially generative AI, that promise to revolutionize productivity.
Gen AI’s Advent in B2B Sales
Generative AI’s emergence has induced companies at all technological stages to explore its potential. Currently, B2B sales organizations report impressive business outcomes from initial AI implementations and show eagerness to further explore its capabilities. The adoption of generative AI seems not only probable but inevitable.
Technological Advancements Redefining Sales
The last decade saw automation, data analytics, and machine learning enhance sales effectiveness. Companies embracing these technologies report an efficiency increase of 10 to 15 percent, predominantly by reducing time on back-office tasks and increasing customer-facing activities.
Generative AI has the potential to bring even greater productivity and growth. Previous research suggests generative AI could add $0.8 trillion to $1.2 trillion in productivity to sales and marketing. This substantial potential has made sales and marketing the functions with the highest adoption of generative AI applications recently.
Early Stages of Generative AI Utilization
According to the latest McKinsey B2B Pulse Survey, B2B sellers are only beginning to use generative AI. A mere 21% of commercial leaders report full enterprise-wide adoption, while 22% have piloted specific use cases. However, optimism remains high, with more than 85% of those deploying generative AI feeling “very excited” about its prospects.
Success Stories: Gen AI in Practice
A large European telecom company leveraged generative AI to enhance customer satisfaction and sales performance. It developed an AI-powered dashboard for call center managers, helping to analyze customer service call scripts, score conversations, identify skill gaps, and create coaching programs. This initiative resulted in a 20 to 30 percent improvement in customer satisfaction.
The Future Pathways of Gen AI in B2B Sales
Pathway One: Enhancing Efficiency
Generative AI is set to augment sales capabilities, allowing salespeople to spend more quality time with customers.
- Effective Resource Allocation: By integrating AI with machine learning, companies can better anticipate customer demand and allocate resources with higher precision.
- Reducing Contextual Expertise: Generative AI can provide critical insights instantly, reducing the need for extensive industry and product knowledge.
- Focusing on Emotional Intelligence: With AI handling routine tasks, sellers can concentrate on building trust-based relationships and complex problem-solving.
Pathway Two: Driving Growth
Generative AI could supercharge go-to-market teams, enabling them to pursue more high-potential opportunities.
- Engaging at the Right Moments: AI can predict customer needs and provide timely pitches, improving engagement.
- Unlocking New Markets: AI analyzes customer reactions to inform product development, opening new revenue streams.
- Peak Performance: Continuous analysis of seller activities can help tailor coaching and identify the best talent regardless of background.
Pathway Three: Redefining Sales Organizations
Generative AI could become a central part of day-to-day operations, fundamentally transforming sales roles.
- Human Touch for Priority Interactions: AI could handle most sales tasks, reserving human engagement for complex deals.
- Prioritizing Long-term Success: Sellers can focus on customer outcomes, with AI calculating customer lifetime value for strategic decisions.
- AI as a Sales Team Member: AI agents could become integral team members, providing coaching, assessments, and problem-solving.
Preparing for a Gen AI-Enabled Future
To prepare for an AI-enabled future, companies need to adapt in several ways:
- Adapt to Higher Expectations: Productivity gains from AI mean sellers need to focus on competitive advantages like relationship building and problem-solving.
- Shifts in Power Dynamics: As customers enjoy AI benefits, such as instant responses and self-serve features, their bargaining power increases.
- Agility and Adaptability: Given AI’s rapid evolution, companies must remain nimble, adjusting talent expectations, go-to-market strategies, and tech infrastructures swiftly.
B2B sales stands on the brink of profound transformation. Generative AI’s power promises to reshape the landscape fundamentally, ensuring that the art of selling looks markedly different in the future.