Earned Media

News Image News Image
01/14/2020
How AI is Demystifying B2B Customer Loyalty

By Dan Zimmerman

Businesses in the B2C world have invested heavily in the use of artificial intelligence and machine learning in order to influence buyer loyalty. In fact, Amazon’s recommendation algorithms drive 35% of the retail giant’s sales.

The success of Amazon and other major B2C players has inspired a legion of other tech platforms to bring the power of AI to organizations at a smaller scale. The outcome of which is machine learning as a service (MLaaS). With these technologies and AI software more readily available, the time has come for smaller B2B companies to catch up with their B2C counterparts, commissioning AI initiatives to start influencing their own buyers’ loyalty. 

How can AI help B2B companies with buyer loyalty?

Marketers have been moving toward a one-to-one marketing strategy for years, expanding the definition of what’s considered customer loyalty to more of a spectrum, rather than a “yes” or “no” question. With the help of AI tools like MLaaS, B2B companies can inspire deeper loyalty by continuing to market to the individual customer. 

At the highest level, AI prediction works like this:

- Identify a goal

- Source and prepare data

- Create models using historical data

- Implement and test the models

- Continuously train the models using results 

Predictive models like these can determine which customers are more likely to respond to certain marketing efforts (the goal). Models can reveal answers to questions like, what communication is most effective for certain customers? What time of day is most profitable? What are customers’ browsing behaviors?

With historical data on which marketing efforts have the most impact on satisfaction, organizations can create models using accessible MLaaS products. Once they thoroughly test the model, they can continuously run new customer data through, which both trains the model and produces useful predictions. Ideally, predictions that reveal which customers will respond most positively to specific marketing efforts and become loyal customers. 

Data is the key to valuable loyalty insights 

The entire AI insights process is less about determining which customers are already loyal, and more about how to predict what will make every customer loyal. Because at the end of the day, marketers want to provide tailored offers for products buyers actually want, not just what they, the business, want to sell  — and to do so requires data. 

Every piece of data is potentially valuable when building machine learning models. This holds especially true considering that the most important indicator of behavioral loyalty is the frequency and variety of products customers purchased. In addition to these critical data points, things like purchase time of day, geography, communication methods, and product relations are all relevant and helpful data elements for businesses to gather. 

You can read the full article on InsideBigData.com.

In the Press

Media Image
01/23/2020
PayThink: B2B Must Follow the Same User Experience Rules as Consumer Payments

By Brandon Spear

Enhancing the B2B purchasing experience isn’t just crucial for keeping current customers satisfied, it’s an essential strategy for gaining new ones.

Media Image
01/14/2020
How AI is Demystifying B2B Customer Loyalty

By Dan Zimmerman

Media Image
01/03/2020
How B2B Sellers Can Win the Arms Race Against Cyber Criminals

By Brandon Spear

Online buying has derailed traditional buyer-seller relationships. In days past, B2B sellers based credit extensions on trust. Today, those extensions are often made without ever coming face-to-face—opening up a Pandora’s box of potential fraudulent activity.

Media Image
01/02/2020
Why B2B Payments Should Take a Page from B2C’s Playbook

Call it a tale of two payments trends.

Or: It was the best of cash flows. It was the worst of cash flows.

The payments realm is a bifurcated one, where business-to-customer payments are increasingly marked by speed, convenience and instant transactions.

Media Image
12/23/2019
Facilitating B2B eCommerce, Payments, and Credit as a Service®

Many businesses need to process transactions across borders, between large companies, and beyond. But how can it all run efficiently? How does the B2B eCommerce space differ from B2C eCommerce?

Media Image
12/06/2019
Curing The $2.4T Manufacturing Sector’s Cash-Flow Crunch

The U.S. manufacturing sector, valued at approximately $2.4 trillion, accounts for an estimated 11 percent of the national gross domestic product (GDP). However, U.S. manufacturing has encountered significant damage recently over the ongoing trade war with China. In fact, the U.S.

Media Image
12/04/2019
Exec: Continually Adapting Keeps 40-Year-Old B2B Solutions Provider Growing

When Brandon Spear took over as president for MSTS four years ago, the company began to shift away from what it had been focused on for 40 years prior.

Media Image
12/04/2019
Cart Abandonment Issues? It Might Be Your Outdated Payment Processes

By Brandon Spear

Media Image
12/02/2019
Four Ways Women in Business Can Succeed Without Relying on Loans

By Martha Salinas

Media Image
10/31/2019
The Future Of Venture Capital Funding Is Female

By Martha Salinas