If you were to guess the top challenges facing B2B companies today, you would most likely guess:
- Revenue
- Customer Retention or
- ROI and Sales.
Though these are all significant issues that the typical B2B brand faces, you might be surprised to learn that they are not the most pressing concerns. The current business, marketing, and technology environment is causing new concerns for B2B marketers, which are likely to persist for some time.
Major Challenges blocking the road of B2B Companies
If you are a B2B brand dealing with the significant challenges detailed in these findings, I hope you will resonate with the ideas and find them interesting, allowing you and your team to be more effective at squashing them within your organization with the help of our Zero management, Intelligent Solution- #GenieVerify, powered by our proprietary technology and OpenAI models.
Let’s dive directly into the challenges now-
- Data Decay: Data decay occurs when information becomes outdated, irrelevant, or inaccurate over time, which can lead to poor decision-making, costly errors, and missed opportunities. As a result, C-level executives are prioritizing data quality and investing in tools and technologies that can assist them in maintaining the accuracy and relevance of their data in real time.
Fact Check: According to IBM– In the United States alone, invalid data costs B2B companies $3.1 trillion in total financial losses each year.
This can be quite alarming for the Data-Driven, Lead Generation, B2B Database, and Demand Generation Companies, as data is getting decayed faster than ever.
- Rising Budgets: According to Weidert Group, 47% of B2B businesses have faced budget-related challenges, such as budget and purchase freezes.
It’s not the first time that the strings on the budget need to be pulled down and tighter this time. With global economic uncertainties such as recession and inflation increasing on a daily basis, CFOs and finance departments are extremely concerned about rising marketing costs and other costs involved beyond them and are constantly looking for ways to quantify them in dollars and cents.
- Poor Lead Quality: According to a Sales Insights Lab report, 54% of agents now find it more difficult to contact quality prospects than they did five years ago.
Gathering data is not difficult for a B2B lead and demand generation company; you can easily gather and crunch data. Your sales team is making as many calls as possible per day, but converting a call into a lead and then that lead into a sale remains to be a code to be cracked for many lead generators, sales teams, and managers.
- Data Privacy: Data privacy regulations are here to stay for the foreseeable future, if not forever. Yes, that is correct. If the team leaders properly follow the compliances, they may turn into an opportunity rather than an impediment, enhancing the customer and user experience. Maintaining a data culture, especially one that is clean and up-to-date, would benefit any B2B organization.
An All-Rounder Solution: AI-Driven Virtual Assistants
B2B leaders are prioritizing the use of artificial intelligence and automation to improve personalization and customer journeys in order to drive revenue growth. While there are 1000’s of potential use cases for AI-powered Virtual Assistants, and with a budget of $x million, this cost-effective and highly efficient solution is fit for all.
We combine next-generation cutting-edge AI technology to Boost your business workflows, and enrich your B2B databases while following the guidelines and data compliances!
Our AI-driven tool- #GenieVerify:
i) Tele-Verifies data at lightning-fast speed, 1000X faster than human agents.
ii) With a Constant performance 24*7*365, say goodbye to the manual work of live agents and hello to a highly optimized conversational journey.
iii) Fulfil the changing need of Q1 2023, scale your B2B demand-gen pipeline, and business conversions with automation.
Final Thoughts
There is a strong need for B2B Data Verification & Enrichment Solutions to prevent internal damage to your company’s most valuable asset-’DATA’.
The good news is that many of these challenges can be resolved, thanks to the deep-tech-driven technology at GenieTalk.ai, providing solutions that scale up your businesses.
Understanding where, when, and how to implement these AI-Powered Voice Assistants is critical to your data strategy.
Looking for an AI expert to talk to regarding the roadmap ahead? Connect with us to get real-time insights.
