Path to Personalization: Elevating the Digital Customer Experience with Revenue Intelligence

“Customers want an always-on, personalized, omnichannel experience. The world's best sellers are giving it to them,” states the McKinsey.com article, "The new B2B growth equation."

Providing an Amazon-like eCommerce experience and using personalized marketing is essential for maintaining a competitive edge. However, many B2B companies use eCommerce or marketing tools with limited capabilities that offer static product recommendations or promotions. Revenue intelligence, on the other hand, leverages your data to transform digital selling platforms into active selling channels. Before examining revenue intelligence solutions' capabilities, let’s look at common obstacles that hinder digital selling success.

Obstacles to Successful Multi-Channel Selling 

Many companies use rules-based eCommerce systems or marketing automation tools that deliver broad promotions. The truth is that a customer-focused experience requires a more dynamic approach. Here are three common obstacles to successful digital sales channels:

1. Lack of Personalization: Many eCommerce platforms serve up products to each customer, whether they make sense for them or not. Customers desire products that hold significance and want to feel valued by the company they’re dealing with. Companies miss opportunities to grow their average order value with these static tools.
2. Lack of Consistency: Whether the customer is online, speaking directly with a sales rep, or corresponding over email, the experience must be seamless and consistent.  If a customer starts in an online storefront but then wants to speak to a sales rep on the phone, the transition should be seamless. The sales rep also needs to be aware upfront of the work the customer has already done online. If the customer experience in one channel versus another is inconsistent and disjointed, it can create friction in the buying process.
3. Over Reliance on Manual Processes: Sales operations and analytics teams are likely wrestling with enormous data sets and using spreadsheets to determine which items to offer customers. Therefore, products are matched to customers without considering their specific preferences. Manual tools and processes lack urgency, result in stale recommendations, and fail to keep pace with today’s always-on digital landscape.

Revenue Intelligence Bolsters the Customer Experience

Revenue intelligence fosters a dynamic, personalized customer experience in digital sales channels. It does this by generating customer-specific insights from data and then translating those insights into actions. These actions can then be prioritized based on impact and published to eCommerce or marketing automation tools by the sales team.

Here’s an example of how a B2B company can leverage revenue intelligence actions to enhance its eCommerce portal:

• A company’s marketing and digital sales teams want to execute a campaign around recovering lost purchase volume and growing wallet share. 
• Revenue intelligence solutions, such as Zilliant Sales IQ™ and Campaign Manager™, enable teams to identify insights and define how the insights get presented as actions in an eCommerce portal.
• The sales ops team can serve up specific products to customers who should be purchasing more of that product type – but also refine which customers receive the recommendation based on the recency and volume of past purchases. 
• When customers log onto the company’s website, the first products served up in the eCommerce product carousel are specific to their unique needs. 
• Product recommendations are now automatically displayed and refreshed in a customer-specific manner and are prioritized based on the items that will have the highest impact in retaining or growing revenue. 

Companies using outdated processes or tools are falling behind competitors and not meeting revenue goals. Using data science to personalize and automate eCommerce and marketing is a game changer for B2B companies. 

Watch On-Demand: Revolutionize Your Sales Game: Boost Efficiency and Skyrocket Revenue with Intelligence 

How do you empower your sales teams to confidently close deals and quickly deliver the right price strategies with the most effective sales motions? Watch this webinar to learn how Zilliant Revenue Intelligence empowers sales teams by creating AI-driven customer-specific recommendations to help:

• Identify "hidden" cross and upsell opportunities
• Push excess or expiring inventory quickly
• Win back lost or decreasing demand for specific product lines

Ready to empower your sales team? Watch our revenue intelligence webinar!