Laura Ramos, VP, Principal Analyst and David Parry, Principal Analyst
B2B marketing, sales, and product teams are diving headfirst into generative AI (genAI). But without the right preparation, they’ll see some of their efforts flounder. On this week’s What It Means, VP and Principal Analyst Laura Ramos and Principal Analyst David Parry explain what success with genAI will require as they break down their 2024 predictions for B2B teams.
The episode starts with the prediction that genAI will surface insights that dictate one in five product launches next year. GenAI will help teams more quickly extract useful information from win-loss reports, competitive intelligence, and customer feedback, the analysts note, but to capitalize on its potential, product organizations will continually need to gather data of this nature that can be mined.
Marketers, meanwhile, will produce more content with help from genAI, though it often won’t hit the mark. Forrester predicts that thinly customized genAI content will worsen the purchase experience for 70% of B2B buyers. To create resonant content, says Ramos, companies should invest in updating buyer personas and their understanding of buyer journeys. Yet one area of promise, Parry points out, is translation, in that genAI could make it much easier for companies to offer content in different languages.
Later in the episode, Ramos and Parry discuss the changing buyer landscape, specifically the increasing influence of Millennials. This group will make up three-quarters of B2B buying teams in 2024 — and Forrester predicts that 40% will rate in-person meetings with product experts as their most valuable interaction in the buying process. This shift will challenge sellers to adapt their roles and become coordinators and orchestrators of customer needs and expert knowledge, says Ramos.
Listen to the full episode to hear a bonus prediction along with more advice for B2B marketing, sales, and product teams on how to use genAI successfully in the coming year.