Top 5 B2B Personalization Use Cases for 2023
While personalization is more regularly talked about in connection with B2C eCommerce, B2B brands can also leverage 1-1 personalized experiences for their customers who are shopping for products online.
Although this increased interest in personalization was partly fueled by the COVID-19 pandemic, B2B businesses are increasingly well-placed to take advantage of the revenue-maximizing potential of personalized digital experiences. Paying attention to customer behavior and building out an engaging customer journey at all touchpoints not only boosts customer loyalty but for B2B brands can be an exciting way to show value and increase revenue.
To chart the increasing relevance of personalization to B2B interactions, we’ve pulled together this list of the top five use cases for B2B personalization in 2022.
Top 5 Use Cases for B2B Personalization
#1: Use tiered pricing to upsell with product recommendations
As more and more transactions become digital, B2B customers are gaining access to checkout, order, and reorder support through their online accounts. B2B customers are familiar with and now expect a buying experience more akin to a B2C experience.
Of course, the combination of experience, logic, and intuition that sales professionals put into structuring and adapting pricing tiers to make them attractive to customers can’t be replaced by digital touchpoints.
But, machine learning personalization can be deployed as part of a high-CX B2B customer experience and drive incremental sales and customer satisfaction higher.
Machine learning algorithms can use If/Then logic to generate enticing tiered pricing offers that trigger product recommendations during the cart and checkout process. So if your customers add 10 items to their cart, you can display a message advising them that they can buy 5 more items at a 30% discount.
In addition to this, machine learning can leverage insights from previous sales to generate the same highly personalized product recommendations that B2C customers are used to seeing, with ‘customers also bought’ and ‘frequently bought together’ algorithms being particularly valuable for B2B customers.
#2: Make products easier to discover
In general, B2B customers are a lot more intentional site visitors than their B2C counterparts. An online shopper browsing for a new travel case might look at several products of varying colors, sizes, materials, etc. Whereas B2B customers often know the exact specifications of the product they want and just want to find it as quickly as possible on your site.
Product discovery tools can surface products quickly and efficiently, boosting engagement and leaving a favorable impression of your business’s ability to provide high-quality customer service and support.
These discovery tools center around the search function, which acts as one of the main interaction points with regard to site navigation, and the displaying of price and availability:
• Visual predictive search – Generate suggestions in the search box as your customers type, speeding up the time to the product page.
• Prioritize results – Personalize search to display product categories in an order determined by in-session behavior or historical data.
• Set rules to condition results – Business rules can be set to determine what products are boosted or buried in search. Flexible application of machine learning and business-based search rules balances the needs of your business with value to clients.
#3: Personalize your VIP Service
Your top clients can become even more valuable with the application of thoughtful and relevant personalization to their digital accounts. Adding personalized CTAs to your customer journey gives you more opportunities to convert, with personalized CTAs converting better than standard CTAs (202% better, according to Hubspot.)
If you incorporate more personalized CTAs into your VIP messaging, the value of these extra conversions is magnified.
In order to realize this extra value you should think carefully about your VIP messaging:
- Show them how much they mean to your business – Deliver segmented messaging to your VIPs, letting them know not every customer gets their special discount or bespoke level of service.
- Use real-time recommendations in email – Open-time email recommendations provide content and promotions that are in step with your clients’ buying cycles and tailored to their needs, ensuring you keep their business for subsequent buying cycles.
- Bolster your VIP relationships with testing – You can use A/B testing to understand what your clients want when they visit your site or call their rep. Dynamic testing puts this knowledge into practice, providing more relevant, ROI-boosting experiences while you continue to learn. You can use this knowledge to supplement and strengthen your face-to-face relationships with customers.
#4: Personalize recommendations in your service portal
The recommendations you display in your service portal, while your clients are looking for help with a query, can generate significant engagement if they’re timely and well-targeted.
Use account-based information, such as what items the client has recently replenished, their overall purchase history, and their in-session behavior, to provide valuable, time-saving recommendations from inside your service portal.
#5: Push recommendations to customer service reps
Advanced personalization solutions allow your customer service reps to make personalized product recommendations while helping clients. You can set filters within your CRM to display recommendations to reps, which they can then pass on to customers, providing you with a short and long-term revenue-boosting opportunity that is often missed.
Using machine learning to boost B2B personalization
As these use cases show, B2B brands have great potential and opportunity to leverage personalization to impact revenue and customer satisfaction. As an added bonus, personalization can even benefit your sales and customer service reps as another way to help customers find the right products.
Getting started with personalization for B2B brands is easy with the right partner. Monetate Personalization provides a one-stop-shop from which you can manage these personalization features in one place, with no need for additional software or services.
Patented machine learning technology powers Monetate Personalization. It analyzes contextual data and previous customer behavior and understands visitor intent. This allows ML algorithms to deliver real-time, highly personalized, and relevant product and search recommendations.
Monetate transforms B2B account management, delivering individualized, 1-to-1 digital experiences. This boosts revenue, giving your business more cross-sell and up-sell opportunities. It also delivers a streamlined, more convenient, and faster customer experience to your clients, sustaining and driving revenue into the future.
Adopting an advanced, scalable personalization solution like Monetate Personalization for B2B will allow you to meet the complex and changing needs of your customers. For more insight, we encourage you to download our guide, “B2B Personalization: Finding Success in the Acceleration to Digital Sales,” to learn more about personalization in general and how to excel.
Ready to learn more about Monetate Personalization for B2B? Schedule a demo with a member of the Monetate team to see how the solution works and can fit into your goals.