According to one recent study, approximately 35% of all global companies use artificial intelligence in some capacity as of 2023 – a trend that shows absolutely no signs of slowing down anytime soon. All told, the global AI market is anticipated to reach an enormous $1.85 trillion in size by as soon as 2030.

In a relatively short amount of time, things have already reached a point where it seems like new companies touting some “innovative AI product or service” are cropping up daily. It’s already difficult for even established companies to stand out in a crowded field – to say nothing of how significant the challenge is when everyone is focused on essentially the same topic, as is true with AI.

Salesforce in particular is focusing its attention on using artificial intelligence to improve things for both B2B buyers and sellers everywhere. It did this by way of the Salesforce Commerce Cloud platform – a powerful suite that aims to help B2B enterprises everywhere get more efficient, increase revenue, and more by leveraging the full might of AI and big data to their advantage.

Breaking Down the AI Pillars of Salesforce Commerce Cloud

All told, Salesforce Commerce Cloud is made up of five distinct applications that are built on a solid foundation of artificial intelligence. The first of these takes the form of the Einstein Copilot for B2B buyers. This allows ecommerce stores to let their buyers use plain-language prompts and photos to learn more about new products, to get personalized recommendations, and more. Essentially, it’s a conversational AI assistant that gives buyers the ability to have more direct, nuanced conversations than they could on virtually any other digital channel.

Another one of the applications that make up the Salesforce Commerce Cloud involves AI-driven goal-setting and recommendation. This is geared towards sellers, allowing them to set their own unique growth targets and goals based on a larger strategy. Once in place, sellers can get AI-powered recommendations that are generated via the Salesforce Data Cloud. Salesforce will use your own data to not only tell you what is possible, but how to go about accomplishing it in the most effective way possible.

Salesforce Commerce Cloud now also offers generative SEO metadata optimization as well. The Einstein AI platform will provide sellers with search engine optimization recommendations so that they can make sure their product titles, descriptions, and other text-based elements are always built with sites like Google in mind. When you consider that the vast majority of all online interactions between a business and its customers still begin with a search engine, it’s easy to see why this is one step that you don’t want to overlook. SEO optimization is nothing if not time-consuming, however, which is a major pain point that Salesforce’s Einstein AI platform wants to address.

Thanks to Commerce Cloud it is now also possible to leverage enterprise scale carts and split segments. Buyers can now add up to 2,000 different line items in a single online shopping cart, supporting the types of large-volume transactions that would have been impossible even as recently as a few years ago. But more than just a minor convenience, enterprise scale carts let buyers split single orders into multiple delivery addresses on an as-needed basis. They can even change shipping speeds for different components of the order based on whatever their current distribution needs are.

Finally, Salesforce Commerce Cloud now offers native merchant services. Processes like integrated shipping, tax, and even checkout are all brought together under one roof. This makes it easier for sellers to get their commerce stores up and running, while also allowing them to focus more of their attention on creating better experiences for customers. Historically, getting these critical integrations working with outside applications has been equal parts frustrating and time-consuming. Now, Salesforce has eliminated a major obstacle.

Ultimately, these five features are merely a beginning for what Salesforce Commerce Cloud will eventually offer. They also serve as further examples of the interesting, forward-thinking, and ultimately secure applications that AI has in many facets of business.

The AI Era: Harnessing Automation to Your Advantage

This all comes during a time when B2B ecommerce sales in particular continue to defy expectations. According to one recent study, the sector saw a 17% year-over-year growth in 2023 alone.

Salesforce itself continues to enjoy tremendous success – this despite the fact that it seems like new competitors are cropping up daily, particularly in the AI space. In February 2024, Salesforce indicated that it had experienced an 11% year-over-year growth itself, hitting 34.8 billion in revenue. Of the many factors that contributed to this rise, Salesforce representatives indicated that their ongoing investment in the development of artificial intelligence and related solutions played a big role in it.

CLOUDSTREET is an example of an organization that has implemented B2B stores for a wide range of different clients using Commerce Cloud functionality. This includes those manufacturers not only in the general industrial field, but also in IT services, and consumer goods as well. CLOUDSTREET offers two distinct Accelerator packages for clients to choose from, both of which help with getting a store online so that selling can begin just as quickly. All told, they’re viable ways to increase sales from existing buyers while also embracing the convenience of having your own custom portal.

In the end, it’s important to acknowledge that the conversation surrounding artificial intelligence is only going to ramp up as time goes on. As the technology becomes more powerful and more ubiquitous, it is going to have an indelible impact on virtually every industry you can name. Ecommerce is certainly no exception. The events of the last few years have already changed the way people shop online forever – now, artificial intelligence seems poised to take those gains to the next level.

To their credit, Salesforce seems to be attempting to cut through the noise to help B2B ecommerce organizations unlock not just the potential of artificial intelligence, but the reality of it. In terms of Commerce Cloud, the generative SEO metadata optimization alone can return literally hours of productivity back to an entrepreneur. But when you also consider native merchant services and AI-driven goal-setting and recommendations, you’re quickly looking at an opportunity that is far too important to pass up.

But Commerce Cloud is also a perfect example of an AI tool that isn’t just by entrepreneurs for entrepreneurs. Einstein Copilot and features like enterprise scale carts also create better experiences for B2B shoppers, which in and of itself is the most important advantage of all.

Today’s IT professionals are busier than ever, with demands for IT requests up some 39% over just a few years ago. For many IT leaders, artificial intelligence (AI) seems like the ideal resource, a tool that can help boost productivity and enhance their ability to master tasks and minimize demand on human time. Then, why isn’t it happening yet?

IT Leaders See the Potential in AI

In a recent Salesforce report, 85% of IT leaders said they expect that AI will help them to improve productivity within their business. They also expect to see that improvement in a relatively short period of time: within 3 years. Imagine AI carrying the heavy burden of many of the tedious tasks that IT professionals get bogged down with on a daily basis.

The Problem Is They Lack the Ability to Take Advantage Of This Boost

The same Salesforce report indicates that 63% of those responding to the poll said their organization is not configured or ready to utilize the benefits they know AI can often provide. Without the ability to harmonize data systems in an effective and efficient way to implement and use AI, all of that potential productivity seems lost.

These types of IT struggles are not new. Most organizations continue to struggle to move their operation to a truly digital foundation, with 80% of respondents saying they struggle with data silos and another 72% reporting that they are struggling with symptoms that are dependent on one another rather than operating efficiently.

How Can Organizations Leverage AI in a Meaningful Way and Make the Most Of Its Potential?

With so much potential out there, it’s clear that organizations must be able to embrace AI or get left behind the competition. How can organizations, including those battling digital transformation limitations, make the most out of AI right now?

Develop data integration

One of the most important strategies for organizations who want to leverage the potential benefits of AI is to develop data integration strategies. These strategies help to improve organizations from the top down, from operational efficiencies to productivity and customer experience.

Utilize LLMs

Most organizations plan to incorporate a larger number of Large Language Models (LLMs) they use. The Salesforce survey found that about 80% of reporting agencies say they are already using generative AI models in some form today.

Utilize integrated data

Organizations must also value integrated data. That is, apps must be connected. Creating a fully functional and integrated solution allows for better data access and management. This could prove critical in building out systems that are no longer siloed but able to function together as a single and effective unit. Without this type of resource, IT leaders may find that AI adoption becomes much more challenging (and expensive) to facilitate.

Overcoming security issues

All organizations continue to face the limitations and challenges of security risks. With more focus than ever on security threats for small and larger organizations, many organizations have held back on adopting AI as a result. They are worried that AI presents a potential for additional security threats. The key to this challenge is improving robust network solutions that do not hinder but support AI adoption.

By working to unify all structured and unstructured business data, organizations open the door to AI integration. The key here is deploying trusted and effective AI tools across the functions of the business to alleviate frustration and added costs.

The Cost of Delaying AI Adoption

For IT leaders, every adoption of technology has to be met with some concern. Is this going to improve your bottom line? Is there a true ROI present?

Without the investment and move toward AI, organizations face the potential of slipping behind the competition. Consider, for example, what data insights can offer an organization.

With AI, you gain access to data insights about your customers, website visitors, sales calls, and any other connected data. That data can be used to give you insight into what to do to better your results. Ultimately, without the integration of effective data management to minimize siloed or “stuck” data, you miss key opportunities to utilize those details to influence business decisions.

The other aspect of delaying AI adoption is the loss of productivity. Humans are incredible creatures that are capable of providing a wide range of resources to the world. Tedious tasks are not the best way to use your human talent. By implementing strategies that include automation, it’s possible to build more self-sufficiency and reduce the burden that’s holding your IT team back. Ultimately, your people can handle the more complicated and pressing matters while automation alleviates frustrations.

AI Provides a Viable Solution to Most Organizations

As a business moves closer to fully digital transformation and implementing more of the automation and AI features and resources available to them, they are likely to see remarkable improvement.

• IT teams see a reduction in pressure, allowing them to not only work more productively but also to reduce stress, which leads to high job turnover in many industries.
• AI may help organizations minimize costly mistakes related to compliance concerns and security risks, outright saving the organization money.
• API and other tools allow for the integration of functions seamlessly. They do not require extensive training or hard-to-utilize methods.
• Adopting automation will allow organizations to continue to meet higher demands on IT professionals (it’s not going to slow down anytime soon).

How to Make It Happen: Using API to Master Growth

Nearly all organizations are using APIs to master their effectiveness and growth. APIs work to streamline the way data is accessed and create better insight into what is occurring. By connecting various apps and systems, all of those data insights become accessible and easy to utilize, including AI tools.

API is a solution because it can:

• Improve operational efficiency in every area of the business
• Enhance the productivity of your IT teams
• Reduce IT team stress and improve overall quality of work
• Improve costs by minimizing delays and costly downtime
• Reduce operational costs for various tasks

The utilization of AI is a critical component of business operations moving forward. With the help of the right tools, IT leaders will see improvement in bottom-line profits. The ROI is high for nearly all organizations that successfully adopt these strategies. With the right services and tools, organizations have the ability to advance their bottom line.

How CloudStreet Makes It Happen

At CloudStreet, organizations can tap into the ability to scale their Salesforce platform. CloudStreet has implemented B2B stores for manufacturers in the industrial, IT services, and consumer goods sectors. We have the tools to support your business as you move closer to adopting the strategies that will ultimately allow your business to function at its highest level. Learn more about how we can help you by contacting CloudStreet now.

In the competitive landscape of business-to-business (B2B) markets, achieving sustainable growth requires more than just incremental improvements. Successful B2B winners understand the power of the multiplier effect. It’s all about how small, strategic actions can set off a chain reaction, leading to substantial growth spurts in business. 

Understanding the Multiplier Effect 

The multiplier effect in B2B growth refers to the compounding impact of strategic decisions and actions. Kicking the multiplier effect into gear means spotting those golden chances that could pay off later. Patience is key. You won’t hit gold overnight but keep at it because they tend to pick up speed fast once things start rolling. 

Each step isn’t just an isolated play; they feed off one another, stacking benefits that can skyrocket a company’s scale and scope before they know what hit them! B2B leaders who spot the ties between different parts of their business can tap into growth spots that aren’t obvious. By seeing the big picture, they turn every aspect of their operation into a chance to impact.

Leveraging Digital Transformation 

Carefully embracing digital transformation is critical to unlocking the multiplier effect in B2B growth. If your business starts to use data analytics, automation, and AI, you’re stepping into a game-changer territory. Leveraging these digital tools can significantly sharpen your decision-making skills. They let you easily sift through data, spot trends quickly, and make informed choices faster. 

In the fast-paced world of B2B, embracing digital advancements isn’t just a time-saver; it’s like having an ace up your sleeve that customizes client experiences with uncanny precision—a total game-changer for staying ahead. Harnessing this tech suite catapults your company’s operational capacity, stripping away the excess and propelling growth with finesse—because, let’s face it, streamlining for peak performance is just smart business. 

Building Strong Team Alliances

If you want your B2B venture to thrive—not just survive—you need these strategic alliances more than ever. Building a strong network often means teaming up with other businesses and suppliers that complement your own. These strategic partnerships can be game-changers, offering a solid base for mutual growth and success. They’re all about synergy – finding the right fit where each partner’s strengths amplify the others. When companies join forces, they’re set to navigate uncharted territories much more effectively. It’s not just pooling resources; it’s also aligning goals and vision for future-proof stability in today’s fast-paced market environments. By embracing collaboration fully, businesses don’t just grow—they thrive by sparking fresh thinking at every turn. These steps are all about boosting growth for everyone involved. 

Prioritizing Customer-Centricity

When businesses truly listen to what their customers want and go above and beyond to meet those needs, they’re not only winning repeat business but are also laying down a foundation for trust. This kind of dedication does wonders for your reputation, too—it’s like fueling a fire that keeps burning bright as more people catch wind of how awesome your service is. 

When customers can’t stop talking about their experience, others trust the brand more and keep returning for more of what wowed them the first time. Getting those thumbs-ups from patrons is like striking oil in your backyard. It sets off this chain reaction where one good thing leads to another, and suddenly, you’re the name in the industry.

Wrapping Up

Imagine stepping up your game so much that you’re not just running the race but setting the pace for everyone else. That happens when you play your cards right with this multiplier effect. It’s all about being smart and putting those who buy from you at the heart of every decision.

It’s no secret that the retail sector has found it necessary to focus on boosting the customer experience or CX for everyone they do business with. However, CX is not just for retailers anymore. You’ll find that as companies commodify their products, there is a growing need to harness CX among members of the manufacturing sector too. According to a survey from Salesforce, approximately 86% of manufacturers report that they think they can competitively distinguish themselves from rivals by improving their customer experience.

Reasons for the Rising Importance of the Manufacturing Customer Experience (CX)

Essentially, there are three chief reasons why manufacturers are starting to embrace the CX:

1. There is a service factor, also known as the “servitization” of products that is transforming the relationship between manufacturers and customers. Businesses are no longer content to consider a sale as merely being a one-time transaction. Indeed, the notion of selling products as a service itself is prompting companies in the manufacturing space to remain engaged with their customers, instead of stopping communication after they’ve sold them a product.
   
   What’s called for is a system to help them keep customers updated with new information about their items. Part of this involves letting customers easily discover new products, and use self-service features to learn and engage with your offerings. Another key ingredient is to invest in a service, such as Salesforce, to connect with customers more effectively and consistently. After all, the numbers don’t lie, so you’re advised to use all the marketing automation tools at your disposal.

2. As noted, business-to-business buyers now prefer to have a consumer-style experience when shopping for products too. When your customers grow displeased with your brand and the consumer experience, it’s a trivial matter for them to locate a competing manufacturer who sells the same types of items, with a few taps of their smartphone. Accordingly, B2B buyers are demanding a good user experience (UE) and user interface (UI). If you aren’t paying close attention to the experiences you’re providing through your website and social channels, you’re doing your company a grave disservice.
   
   With a focus on the customer experience, you can give each person an instant response when they request service. You’ll also be in a position to offer purchasers of your manufactured products support and maintenance just when they need it.

3. To remain competitive in an increasingly crowded market, it’s incumbent on manufacturers to differentiate themselves from rivals in terms of the experience of doing business with them. It’s no longer enough to try to get by offering the best products possible and developing an outstanding, reputable brand. Your customers will expect and deserve a better experience.
   
   Delivering this to them will certainly help boost revenue. But by focusing on the CX, you can also anticipate that your team will make operations run more efficiently, cutting out waste. This occurs naturally when you invest in systems to automate the marketing and sales functions, with analytics to provide support for your next business decisions. Add data streams from Internet of Things or IoT devices and advanced analysis made possible with the help of artificial intelligence and machine learning, you can dramatically improve the customer experience journey.

Addressing the Complexity of Your Manufacturing Customer Experience

If you’ve been involved in the manufacturing space for any significant amount of time, you and fellow stakeholders in your organization are already familiar with just how complex the journey it is for each customer to take before finally purchasing items from you.

One reason has been the vast array of middlemen that tend to get in the way. Even the most powerful manufacturers often did not know exactly who their final customers were, let alone the uses to which they put their various products. But that’s part of the past. In the information age, anyone with internet access can access the supply chain more readily. Therefore, you need to spend time and attention on improving your approach to center around your B2B customers’ journey.

To that end, some crucial options for you to consider include:

* Deploy more assets to build an “intelligent” customer service:

It costs a lot of time and other resources for manufacturers to provide traditional customer service, such as setting up a network of field agents and training them in your ways, and building contact centers. At the same time, you have to relentlessly focus on speeding up orders and making each transaction more accurate. Most customer service complaints have to do with resolving their requests, and all of the time and effort they have to expend on repetitive data entry tasks to finalize orders.

Instead, you’ll want to design a better customer journey experience that values their time and attention. Do this with design experts making a better UE/UI interface. Use the latest digital technology products, such as cloud services, chatbots for customer service reps, mobile device targeting, IoT and artificial intelligence systems. Of course, you’ll also need to deploy analytics, such as through a platform like Salesforce.

* Use smart devices to better connect with your B2B customers:

Whenever possible, use integrated devices such as IoT products. Kone, a Finnish manufacturer, notably added artificial intelligence inside its elevators, along with IoT devices, which allow the elevators to communicate with their data servers.

This enables Kone to understand where each elevator is at any point in time, with data if they are suffering any problems. The treasure trove of information helps Kone predict when customers’ elevators need maintenance. Doing so avoids service interruptions, and makes customers happier with Kone’s products.

The same principle applies to automotive manufacturers. For example, data from each car allows manufacturers to send drivers tips on reducing damage to tires when riding fast over certain types of road surfaces.

Boosting Your Manufacturing Online Presence With a New B2B Customer Portal Designed to Accelerate Sales

CLOUDSTREET has successfully set up B2B stores for manufacturers operating in the consumer goods, IT services and industrial sectors. To enable manufacturers to quickly get up to speed, CLOUDSTREET provides two Accelerator packages, to help you get your online store up and running to start making fast sales.

With a tool such as Salesforce helping you engage more effectively with new customers as well as existing loyal customers, you can anticipate boosting sales, thanks to your customized sales portal.

So, even if you have limited resources to handle Salesforce marketing automation tasks yourself, or to set up and maintain an online store, you can still set yourself apart from competing manufacturers by partnering with the experts at CLOUDSTREET, who have years of experience in implementing effective B2B storefronts online.

In the dynamic world of e-commerce, the game-changer is not just about getting online; it’s about doing it fast and efficiently. Enter CloudStreet, the powerhouse that leverages Salesforce Commerce Cloud and Einstein GPT to elevate your online store’s game. Let’s unpack the punch that CloudStreet’s twin Accelerator kits pack, easily propelling your e-commerce to digital stardom. Let’s dive into how CloudStreet is the path to boosting sales and creating a shopping experience that customers will love.

In the fast-paced e-commerce scene, CloudStreet stands out by swiftly and skillfully harnessing Salesforce Commerce Cloud, turning your online shop into a powerhouse with stellar sales and an unbeatable customer experience. As the architect behind your online shopping space, you’re orchestrating every click and scroll to resonate with shoppers.

At the core of CloudStreet’s competitive thrust in online retail is its savvy use of Salesforce Commerce Cloud, which is flipping the script on traditional e-commerce strategies for businesses. Eighty-one percent of consumers create a plan to reassess their budget over the next 12 months. We’re seeing a trend where folks are willing to spend more for experiences that feel tailor-made for them. Retailers who overlook focusing on increased personalization will find their business at risk. Businesses need to step up their game by boosting how well they work – think smart, act fast.

Leveraging Commerce Cloud’s robust suite and intuitive layout, your e-commerce platform gains a steadfast base that smooths out the shopping journey and ensures customers are hooked enough to return. CloudStreet doesn’t just put these features into play; they master the art, making your brand pop in a sea of online shops.

Increase Sales with Custom Portals

One of CloudStreet’s standout features is the creation of custom portals, adding a layer of convenience and personalization for your customers. At CloudStreet, we go beyond just drawing eyes to your brand; we keep your loyal shoppers hooked with a shopping experience that’s both effortlessly smooth and impressively refined.

Accelerate Your Success with CloudStreet’s Packages

CloudStreet doesn’t just get you online; it gets you online at warp speed. CloudStreet’s QuickLaunch and TurboBoost Accelerator packages are the secret sauce for businesses itching to hit the ground running and stand out in the bustling e-commerce marketplace. QuickLaunch and TurboBoost aren’t just about getting your store off the ground; they’re designed to create a buzz, captivate your ideal audience, and shine in the competitive e-commerce spotlight.

Our Business to Business (B2B) Commerce Cloud buyer portal is affordable and quick to implement. The CloudStreet’s Accelerator packages save you time and money and provide an easy means for a short-term return on investment. In no time, you can enable your customers to take buying matters into their own hands, increasing your revenue and bottom line.

Why Consider Quick Start Accelerators?

Upon access to Accelerator, it’s immediately ready to use. Our package has all the tools you need to set up, customize, and link everything together quickly and without fuss. Even better, you receive a fixed price. You won’t have to worry about pricey add-ins. Get your business in the market in weeks, not months. With the ease of this application, you can focus on scaling business growth. We’ve got your back with continuous help, keeping things smooth with regular upkeep, the latest features, timely fixes, and those small but key improvements.

What Else Does Commerce Cloud Have to Offer?

You will have everything your partners need with a Salesforce Business to Business B2B Commerce Cloud for Lightning storefront. It also makes it a breeze for distributors and wholesalers to stock up again, keeping their operations running smoothly. Storefronts have all the features buyers expect from an online portal. Cloudstreet can accelerate it for you in just weeks. You may be surprised at how quickly you’ll be able to launch. Grow your business faster than ever with a digital B2B storefront. You will be able to get to market faster and be more innovative.

CloudStreet is your go-to for cranking up the sales on your online storefront, making it a snap to scale and connect in the digital B2B marketplace. Your business will be able to maximize your online growth with easy-to-use commerce features tailored to B2B customers. Some additional tools that can help include simple, self-service contract pricing. With these tools, you’ll smoothly navigate the twists and turns of B2B sales, making complex deals look simple. With CloudStreet, your sales crew can land new customers and orders faster, cutting down on the expenses for each transaction.

These packages are your ticket to drawing in more clients and ramping up engagement effectively. You will find that your B2B commerce interactions become seamless while making them more relevant and connected. You can configure your B2B storefront to meet the industry-specific needs of varied market verticals. When you tailor the business to your specific industries, you can connect electronically with the increasing interest from manufacturers going digital. By revamping the reordering system, you’re handing customers a no-sweat way to snag what they need. You can offer customers subscription ordering, making purchasing much easier. In addition to subscription orders, you can dive into extra software and services that streamline your operations.

Einstein GPT: The AI Wizard in Your Sales Arsenal

Can you imagine having an AI wizard that understands your customers better than you do? That is exactly what Einstein GPT can do for you. CloudStreet amps up your online store by weaving in Einstein GPT so you can dish out spot-on recommendations and smart predictions that amp up the whole shopping vibe for your customers.

Leverage Einstein GPT’s sharp AI insights with CloudStreet to elevate your sales game, creating a customer experience that’s not just smart but genuinely connects and keeps them coming back. At CloudStreet, we’re not just jumping on the AI bandwagon but leveraging its full power to boost our sales figures. Einstein GPT, with its natural language processing capabilities, understands customer preferences, predicts trends, and recommends products with an uncanny accuracy that sets your business apart in the competitive e-commerce landscape.

Seamless Integration for Maximum Impact

What sets CloudStreet apart is its commitment to seamless integration. With CloudStreet, your leap into digital doesn’t just mix things up; it propels your business forward with finesse. Whether incorporating Commerce Cloud or embedding the prowess of Einstein GPT, CloudStreet ensures that your existing business operations smoothly evolve into a digital powerhouse. CloudStreet has got your back in giving your sales strategies a serious power-up, ensuring the shift is all gain and no pain.

CloudStreet is the unsung hero in e-commerce, quietly driving your venture to new heights with smart tech at its helm. With Salesforce Commerce Cloud and Einstein GPT at its core, CloudStreet doesn’t just implement technology; it crafts an experience. Your path to online success is fast-tracked and redefined. If you’re aiming to stay afloat and lead the pack, CloudStreet is your ace in revolutionizing how you sell.

Business-to-business (B2B) sales arise when a company sells products or services to another company. The sales cycle may be lengthy and include giving presentations and demonstrations to large groups. This may involve many people, from potential users to final decision-makers.

After considerable effort and perhaps intense negotiations, you either close the deal or not. The key to your success is to accelerate your B2B sales process in ways that enhance your return on investment (ROI). The longer it takes to get to the close, the lower the ROI results, even when you make the sale.

By implementing Salesforce strategies through the accelerator programs offered by Cloudstreet Services, you can get your company up-to-speed using cloud services and optimize your Salesforce capabilities to make B2B sales fast. You can capture new buyers and increase sales to existing buyers when they use their customized web portal to buy from your company.

Here are some tips on 1) how to manage B2B sales utilizing the best practices, 2) what key performance indicators you should measure, and 3) what B2B tools to use, including how to make use of cloud services and ways to use artificial intelligence (AI).

Characteristics of B2B sales

Knowing the characteristics of your B2B sales helps fine-tune your strategy. Here are some things you need to manage and a few pitfalls to watch for and avoid.

Various Stakeholders

You may find that various stakeholders have different agendas and requirements that need to be satisfied. You would do well to clearly understand the decision-making process and determine who the ultimate final decision-maker(s) will be. There is no point in making a sales pitch unless the persons who can ultimately decide are included in the process.

High-Value Sales and Recurring Revenues

A single B2B sale may be worth millions of dollars. Businesses tend to invest in these services for longer times because of the cost of implementation and change management needed to switch providers.

Closing Takes Time

Complex B2B sales take longer to close. Effectively using Salesforce accelerators, you can automate processes for efficiency, such as having customized web portals for repeat customers, so you can concentrate on where you need to apply your powers of persuasion.

Long-Term Relationships

Because the sales are complex, the deal sizes are large, and there are various stakeholders to contend with, B2B buyers want to know their benefits and potential ROI before they make a purchase. Once a customer, it is usually easier to keep them than it is to find a new customer.

B2B Sales Process Best Practices

B2B sales teams reach out to potential customers to find and qualify prospects. Then, the sales team identifies the various stakeholders and participants in the decision-making process. Watch out for hidden stakeholders that a prospect fails to identify. These stakeholders may be hidden final decision-makers who put the kibosh on the deal after all the hard work of making the presentations and getting approvals from other stakeholders is finished. Or there may be a stakeholder that a prospect is not aware of, such as a regulator, who pops up at the final moment to block a deal.

Here are the six steps in the sales process:

• Step One – Lead Generation: Sales teams identify prospects using ads (inbound leads) or by contacting potential customers.
• Step Two – Customer Qualification: Sales teams determine the relevant potential of a prospect to become a customer.
• Step Three – Needs Assessment: Sales teams work with potential customers who qualify to determine their specific needs. Pay careful attention to the customer’s pain points.
• Step Four – Presentation: Sales teams present a customized solution for the client to review. Give a quote. To explain the ROI of the value proposition, focus less on the cost of the solution and more on the cost(s) of not implementing the solution.
• Step Five – Negotiate: Sales teams determine the terms of the deal, using deal sweeteners as needed.
• Step Six – Close: Sales teams finalize the deal and prepare the contracts for signing.

Salesforce organizations can leverage accelerator technology to streamline this six-step process. For example, cloud-based AI tools for deep market analysis can organize information, identify prospects, and track leads as they progress through the sales process.

Key Performance Metrics for B2B Sales

To understand efficiency and its impact on your ROI, it is vital to track key performance indicators (KPIs). This tracking of B2B metrics shows how your company is performing, how a specific sales team is performing, and how an individual sales agent is performing. You can compare performance metrics over time, such as a year-over-year analysis, and determine if some strategic adjustments are needed should you fall short of our goals.

Here are some important KPIs for B2B sales:

• Prospects: The number of new leads (for the company, sales team, or sales rep) over a particular period.
• Conversion Rate: The number of leads that convert to being customers.
• Annual Contract Value (ACV): This is the average sales per customer for a year.
• Annual Recurring Revenue (ARR): The annual contract renewals.
• Customer Lifetime Value (CLV): The predicted value of all revenues received from a customer over the course of their involvement with your company.

How to Improve Your B2B Sales Process

Use cloud-based tools and data available about market trends and customer behavior to refine your sales process.

Here are some tips on how to improve performance:

• Know Your Target Audience: Accurately define the characteristics of your target audience. Most companies create a set of imagined client profiles of what they think are their best customers.
• Lead Priority: Analysis of past sales data allows the system to identify leads with a higher probability of conversion and create an algorithm that helps recognize these characteristics in new prospects. Lead targeting and prioritization help increase sales.
• Personalization: Collecting data allows personalization that goes much further than simply addressing a customer by name in a bulk email. For example, the Cloudstreet Services system helps create a customized, personalized web portal for each repeat customer.
• Sales Forecasts for Planning. Sales data analysis can help create forecasts, which are useful for budgeting, cash flow, and expansion.

B2B Performance Dashboard

Tracking the KPIs and sales analysis metrics is accomplished by using a dashboard that displays all the pertinent information in an easy-to-read fashion that is collected and updated in real-time.

A dashboard displays sales data from previous and current periods for comparison. It keeps a running total of pending sales, so you can make informed decisions and adjust strategies as necessary. This system may be used to drive sales strategies, make decisions about hiring new employees, and deploy marketing campaigns.

Final Thoughts

B2B sales happen when you can identify and engage prospects who need your company’s products or services, and you can close a deal. Understanding your prospect’s pain points and building relationships with the various stakeholders, buyers, and decision-makers is vital.

To succeed, you want to sell solutions to your prospect’s problems and demonstrate a value proposition based on their ROI. Finally, you want to accelerate your process using the cloud-based solutions offered by Cloudstreet Services.

Commerce insiders with their fingers on the pulse of the B2B space have identified several emerging trends as we head into the new year. Those trends will shape the industry’s landscape through the first half of the year with some likely holding strong all the way through the entirety of 2024. This is your look at the top B2B trends coming to the forefront as we turn the calendar to a new year and business financial quarter.

A Transition to B2B E-commerce is no Longer Optional

B2B specialists are quick to point out that businesses are recognizing the necessity of a strong e-commerce capability. The sector’s merchants are recognizing that e-commerce is a necessity and responding accordingly. Those who have not already expanded their digital commerce will likely end up lagging behind.

A Push Beyond Merely Selling

The B2B commerce industry is transitioning to a new era in which merely selling online does not suffice. Modern B2B buyers are educated and demanding. Businesses that fail to serve up highly polished and fully personalized web-based experiences will find it difficult to compete. The moral of the story is that market troughs are inevitable, meaning merely hunkering down makes it difficult to survive.

Some companies lack the infrastructure necessary to endure ensuing downturns. Moreover, insufficient infrastructure prevents companies from capitalizing on opportunities that will undoubtedly arise in the months and years ahead. Those who strategically invest their resources will drive sales through the new year and beyond.

B2B Self-service is on the Rise and here to Stay

Portals for self-service have gained prominence for B2B sellers. A recent B2B Commerce Growth Strategy Survey states just under one-third of respondents obtain in excess of 50% of revenue from digital channels of the self-service variety. This statistic is an indication that leaders acknowledge customers anticipate web-based experiences that are consumer-grade quality. Moreover, B2B participants also seek expansive tools that empower them to monitor orders and manage accounts.

Order Process Automation is Increasingly More Common

The automation of business processes is scorching hot as we transition to the new year. A third of B2B businesses note automation and streamlining are important e-commerce strategies. Such automation is important for industry progress as a considerable amount of e-commerce is driven by processes.

Automation is being implemented for the following aspects of B2B and more:

• Distribution
• Inventory
• Marketing
• Sales

B2B commerce professionals willing to take a macro view will find they are better able to determine the best approach for optimization and the integration of e-commerce tools into the overarching systems and tech. Industry automation even extends all the way to self-service tools. As an example, chatbots provide rapid fire answers to customer inquiries. These tools reduce the length of sales cycle, hike customer retention and provide B2B companies with extensive access to valuable buyer data. Those who make use of this data to maximize the revenue pipeline along with leads make the best use of their limited budget and resources.

As an example, some of those in the B2B industry are going to the extent of synchronizing self-service tools to guarantee data interoperability. It is now possible to note subtleties such as buyer desires as expressed in conversations with chatbots powered by artificial intelligence. The industry’s best update those buyer preferences in the CRM tool for a better user experience.

An Emphasis on the Buyer

The buyer experience is center stage as we transition to ’24. B2B industry professionals are sweating the small stuff of the experience in recognition of the market’s natural competitive forces and also in acknowledgment of buyers’ idiosyncratic desires. The bottom line is loyal customers are essential for growth, meaning B2B sellers are ushering in a new buyer-focused approach to e-commerce including customer relationship management software (CRM) as Salesforce.

The buyer is now considered to be the primary driver of growth. The most successful enrich B2B buyer interactions with every aspect of the business ranging from products to people and more. Moreover, the buyer experience is being personalized in accordance with subtle details distinct to individual buyers such as nuanced goals and needs. The most successful sellers use e-commerce to bring customized value offerings to buyers, carefully altering all subtleties to reflect customer desires.

The Success of Marketplaces will Continue

Marketplaces have emerged as the B2B industry’s most rapidly growing channel for e-commerce sales. Aggregate sales on B2B marketplaces are more than doubling on a year-over-year basis. The pace will likely continue through the new year and potentially beyond. The trend is clear: marketplaces are expanding significantly faster than the industry’s aggregate e-commerce sales.

Selling to businesses through marketplaces catalyzes sales yet it also mandates e-commerce infrastructure that can withstand the marketplace’s demands. The popularity of marketplace models is especially noteworthy as several B2B companies were reticent to work with such models, suspecting both channel issues and a meaningful reduction in margins.

Concerns have waned with the progression of time. Though some industry veterans will highlight the fact that marketplaces haven’t generated the desired results for every business or brand, the prevailing theme is that they spur considerable growth.

A Growing Emphasis on Infrastructure

B2B firm leaders are now recognizing that rapid growth has the potential to cause unexpected and unintended problems, some of which have the potential to hamper the business. Creating highly flexible IT systems that prove resilient and scalable are vitally important for growth. In particular, firms are implementing specialized e-commerce tools to improve flexibility with the use of business applications for seamless functionality.

The optimal tools also provide B2B companies with the flexibility necessary to alter buyer-facing factors without altering the infrastructure on the backend. Such “headless” architecture is API-driven to minimize potential lag, ensuring fast-loading amidst an influx of traffic. The end result is timely service that keeps prospects in the fold and also encourages current buyers to remain loyal. The top B2B firm leaders are now stressing the importance of ensuring all APIs are updated at the proper frequency then meshed back together to prevent performance issues.

CloudStreet B2B Accelerator Packages

CloudStreet is proud to provide two Accelerator packages revered throughout the industry. Our tools help companies get their stores online for prompt selling. The CloudStreet Accelerator packages make it easy to implement self-service with an ecommerce store in mere weeks or months.

Reach out to us today to find out more about how CloudStreet will accelerate your sales through buyer empowerment.

To say that a lot has happened in the last year in the world of technology is something of an understatement. The initial public release of ChatGPT only happened a year ago in November 2022 – kicking off an explosion of popularity for artificial intelligence and a race for AI superiority across industries.

This same level of advancement is absolutely being seen in the world of B2B commerce, particularly since the Salesforce winter release is upon us yet again. The Winter ’24 release includes a number of features that are designed to empower product innovations using not only artificial intelligence but also big data, CRM tools, and more.

A Bold Step Forward for Salesforce

The Salesforce Winter ’24 release offers a number of exciting features that are significant for both B2B and D2C users. The Commerce Cloud has been updated in ways that people have been asking about for a long time.

Customers can now add up to 2,000 line items to a cart at any one time, for example. Product fields can also now show “Frequently Purchased” items to customers, information that dynamically changes in real-time thanks to Einstein Generative AI. Not only does this offer a unique way to personalize the shopping experience, but it’s also a great way to automatically embrace cross-sell and up-sell opportunities as well.

AI is making its presence known all across the Salesforce Winter ’24 release. Businesses can now begin selling faster than ever with automated org setup. This helps to streamline the store creation experience, saving a dramatic amount of time that can then be used on more important matters.

This release has also seen some changes to the Salesforce payments process, all of which helps to create a better experience for your own customers. In addition to direct debit techniques like ACH and BACS, organizations can also accept payments through PayPal and Venmo. The “Pay Now” page is now more configurable than it has ever been, offering users a way to access different payment records, share those records with relevant parties, and more.

Salesforce Order Management has also seen some major upgrades, particularly in terms of the “Order on Behalf Of” experience. Products can now be searched by name, key search terms, and more – as opposed to just SKUs and product IDs as it was in the past. Products can now be easily reserved during the ordering process, all to help reduce the chances of getting “out-of-stock” errors that hinder the overall experience.

Innovation Has Never Been Easier

Of course, Salesforce was updated in more ways than just via the Commerce Cloud. One of the biggest has to do with the Salesforce Scheduler. It’s now easier than ever to manage customers who pay a visit to a physical business location for in-person appointments. Actionable lists can be used to send out appointment reminders and a number of enhancements have been made to the “Shifts” feature within the Scheduler itself.

Einstein Search has also seen some positive adjustments. Searchable standard and custom objects can now be easily configured, allowing you to further customize Salesforce to meet your business’ needs. CLOUDSTREET is dedicated to providing cutting edge B2B technology and solutions to manufacturers in virtually every industry, including industrial, IT services, consumer goods, and more. Based on that, we understand exactly how important the need for further customization with a tool like Salesforce always is.

It’s also now possible to get specific answers from a knowledge resource by way of the Einstein Search Answers feature.

In an overarching sense, one of the most important adjustments to the Winter ’24 release has to do with modifications to Salesforce data pipelines. Staged data is now being used instead of datasets as it was in the past, which can dramatically decrease data processing time in most situations. Salesforce is now also compatible with not only the Google GA4 event-based property framework, but with Google Analytics 4 as well.

Finally, the Salesforce B2B Commerce Winter 24 release includes a bevvy of general enhancements that are intended to make the Lightning Experience even better. These include but are not limited to things like:

• Tools have been made available to help prepare for upcoming changes to the way Setup pages will be hosted on a new domain in a future release.
• Multifactor authentication (MFA) has been further enhanced and enforcement is now a permanent part of the direct login process.
• Many non-text UI elements have been improved in terms of buttons, checkboxes, and overall color contrast.
• The News, automated account fields, and automated account logo features are all being retired as of the Winter ’24 release.

To find out more information about the Salesforce B2B Commerce Winter ’24 release, head over to Salesforce’s own Release Notes.