Selasdia - applications of text analytics to B2B sales and marketing

Bangalore, India

www.selasdia.comCan we apply AI to B2B marketing?

Applicationsof

Text Analyticsto

B2B Sales and Marketing

selasdia.comCan AI do better than Google?

What I’m going to cover in this talk

1. Promoting B2B Products Versus B2C Products

2. How We Promote B2B Products Today

3. What Can Happen When You Apply Text Analytics

4. Finally, we do a comparison with Google (Can AI do better than Google?)

Introduction

B2C vs B2B marketing

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Image from WikipediaImage from Wikipedia

B2C

Advertisement

B2C and B2B Products

Advertisement

B2B

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The difference between B2C and B2B marketing

is one of

targeting

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If the product is a B2C product

Customer Customer Customer

Accountant

B2C – A large segment of the world is aProspective Buyer

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If the product is a B2B product

Not a customer Not a customer Customer

Accountant

B2B – People in Specific Roles in Firms areProspective Buyers

[email protected]


A description of a prospective B2B buyer is calledthe B2B Buyer Persona

Not a customer Not a customer Customer

Accountant

If the product is a B2B product

selasdia.comPromoting B2B Products

B2B Product Buyer

1. The buyer is a role in a firm

2. There is a limited number of buyers

3. More targeting needed to reach buyers efficiently

selasdia.comPromoting B2B Products

B2B versus B2C

B2C B2B

Sales

Marketing

aiaioo.comDigital Marketing

How We Promote B2B Products Today

Digital Marketing

1. Search Engine Marketing

2. Social Media Marketing

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Image from Wikipedia

Content Marketing

Marketing over the web, social media, and email bysharing content that helps customers or prospects:

1. Content creation around keywords2. Content dissemination on digital media3. Lead capture using forms, polls and gated downloads

This is a bit of a superset of SEO (SEO is about making yourwebsite rank high on search engines).

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Example of Content Marketing

Let’s say I am Tally, and I want to promote tools for financialaccounting to Chartered Accountants.

1. Content creation around keywords that potential customersmight search for: accounting, accounting software, accounting tools,tax preparation, taxation, cost accounting, tax compliance

2. Content dissemination on digital media: Web pages with articles including those keywords

http://tallysolutions.com/5- accounting -tips-for-small-firms.htmlTitle: 5 Amazing Accounting Tips for Small FirmsContent: Has your accounting given you spent sleepless nights

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Where Your Content Marketing Doesn’t Work Great

Your content Your competitor’s content

YouYour competitor

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Where Your Content Marketing Doesn’t Work Great

Your followers Your competitor’s followers

YouYour competitor

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Fast Follower

The originator

f

f

f f

f

f

f

The fast follower

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Disruptor

The originator

f

f

f f

f

f

f

The fast follower

dd

d

The disruptor

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Software services firm

Open sourceproject

Services

ss

s

s1s1

s1

s2s2

s2

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The above methods rely on “being found”

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Traditional Digital Marketing Works

Just Like A Tool For Naval Warfare

Naval Mine

aiaioo.comPull Method

How Naval Mines Sink A Ship

Prospect

Content

selasdia.comMK37 Director


Another Way to Sink a Ship

“going out and finding the customer”

selasdia.comPush Method

How Gun Fire Sinks A Ship

Prospect

You

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Another Way to do B2B

Marketing (Sink a Ship)

Use Text Analytics To:

1. Identify a Prospect (Spot a Target)2. Find Contact Information (Location)3. Find Out Needs and Interests (Find Heading)4. Interact With Prospect (Fire a Shell)

Our research work over the past 5 years has focused on doing these 4 steps using AI (automatically). Today we’ll talk about some of the results.

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1. Identify a Prospect

Get the identity of prospective buyers from:a) Company websitesb) Social media profilesc) News articles

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Identifying Prospects – An Example

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Web Information Extraction for List BuildingModern AI tools can search the world wide web

much like a human would.

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Results:B2B Prospect List Culled from Twitter

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Text Analytics Steps

Two Steps:

1. Named Entity Extraction/Classification2. Relationship Extraction

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Step 1: Named Entity Extraction / Classification:

a) … said Janakiram, the CEO of Minewhat, while …b) Attendees included Janakiram, CEO, Minewhat …

Output:

Person: JanakiramCompany: Minewhat


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Step 2: Relationship Extraction:

a) … said Janakiram, the CEO of Minewhat, while …b) Attendees included Janakiram, CEO, Minewhat …

Output:

CEO_Of {Janakiram, Minewhat}


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2. Obtain Contact Details

Get the contact details for prospective buyers from:a) Company websitesb) Crunchbasec) Email serversd) Social media

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Obtaining Contact Details

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Record Linkage:

[email protected] Cohan Sujay Carlos@cohansujay Cohan Sujay Carlosfacebook.com/cohan.sujay Cohan Sujay Carlos

Text Analytics Task

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3. Determine Heading

With a prospect, you want to know shifts in interest:

Strong Purchase Interest

Your productCompetitor

Lack of Purchase Interest

aiaioo.comIntention Analysis

Intention Analysis – Purchase Intention


aiaioo.comIntention Analysis

Intention Analysis – Sell Intention

aiaioo.comCategories of Intentions

Intention Analysis – Categories of Intention

Categories Parent Category Department Urgency Source

Purchase Sales High CRM

Sell Procurement Medium ERP

Inquire Help/Sales High CRM

Direct Operations High CRM

Compare Market Research Low CRM

Suggest Market Research Low Social

Opine Design Low Social

Praise Opine Design Low Social

Criticize Opine Design Low Social

Complain Customer Service High CRM/Social

Accuse Customer Service Critical CRM

Quit Customer Service Critical CRM/Social

Express Call Center Training Low Transcripts

Thank Express Call Center Training Low Transcripts

Apologize Express Call Center Training Medium Transcripts

Empathize Express Call Center Training Medium Transcripts

The following give you clues to the level of interest

How do people go about doing B2B marketing?

I am looking for good tools for B2B marketing.

I just read this article about B2B marketing!

Is tool XYZ for B2B marketing better than tool ABC?

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Examples of Leads at the Moment of PurchaseFound using Intention Analysis

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4. Engage

Find ways to establish some kind of interaction typically using:

a) Safe likesb) Safe followsc) Responding to inquiries or concerns

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Safety checks:

a) Ensure that any message that you like is not offensive or inappropriate.

b) If you’re sharing a message, ensure that the message being shared is not about or by your competitor.

c) Ensure that you don’t follow somebody who is politico-religious hazardous material.

Text Analytics Tasks

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How safe can automation-selectedinteractions be?

~ 200,000automation-supported interactions

no complaints

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Ok, Great!

So How Effective Would a Text Analytics Based Process Be?

Let’s do a comparison with Google!!!

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Effectiveness and ROI

If you interact with 100 people

10 of the 100 people might visit

1 of the 10 visitors might follow

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The conversion rate is between 5 and 10 for different types of interaction

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Over a half-year of operations, we got about 2000 followers

That means, we got about 10000 to 20,000 visitors

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How much would Google have charged to give you 10,000 to 20,000 visitors?

aiaioo.comRecap

What I’ve covered in this talk

1. Promoting B2B Products Is All About Targeting

2. We Promote B2B Products Using Pull Methods

3. Text Analytics Can Enable Push Methods

4. Text Analytics Based Push Methods Can Be Effective

[email protected] Questions?

THE END

1. Promoting B2B Products Is All About Targeting

2. We Promote B2B Products Using Pull Methods

3. Text Analytics Can Enable Push Methods

4. Text Analytics Based Push Methods Can Be Effective

Visithttp://www.selasdia.com

Try it out!

http://www.selasdia.com/