The State Of Artificial Intelligence In B2b Marketing

THE STATE OFARTIFICIAL INTELLIGENCEIN B2B MARKETINGEverString with Heinz Marketing 2018

WHAT’S IN THE REPORTINTRODUCTION1METHODOLOGYKEY FINDINGSGENERAL OBSERVATIONSKEY TAKEAWAYS

NOIINTRODUCTIONArtificial Intelligence (AI) is becoming more prevalent as a component of marketingTtechnology solutions. The promise for AI seems huge in part by what people think it is,what it can do, and what others say about it. Some marketers may already have tools inCtheir stack with AI functionality and they don't realize it. The bottom line is: B2Bmarketers are still in early learning phases with AI.UThe early stage information and ideas about AI in marketing also create confusion.Vendors and thought leaders often discuss machine learning, propensity modeling, andDnatural-language processing, which are all different types of AI. Even so, marketers at alllevels believe there is tremendous potential for using AI in a variety of applications to helpOachieve business goals. Early adopters are commonly using technologies with AIcapability to help with identifying prospective customers, personalization, and predictivemodeling. Vendors are just beginning to develop ways to use AI in their solutions, and theRbecomes apparent.Tinnovation should increase at an accelerated pace as enthusiasm grows and the valueEverString is proud to provide the findings from this survey to help B2B marketersunderstand how they compare to peers in viewing AI applications, and futureINexpectations to create value.2

YMETHODOLOGYPosition Levelwithin OrganizationG10.2%16.9%23.7%ManagerEverString and Heinz Marketing conducted the firstDirectorever survey to understand how B2B marketers viewVP artificial intelligence currently and how they envisionOtherusing AI as a strategic tool to help meet their goalsL20.3%OCoordinator/AssociateO28.8%and objectives. The responses came from over 300B2B marketing and sales professionals within aDvariety of organizations and industries.ONumber of employees within 0,001 23.4%E51-200 5005%10%15%20%25%30%35%40%45%50%M00%3

SMarketers struggle to manage data quality and to find a reliablepotential impact it could have on their business to achieve objectives.source for maintaining and appending data. They are not asEarly adopters appear to have a stronger grasp of using AI and gettingconfident in using their current data to achieve goals andthe most value in their current marketing operations.objectives.32% of marketers are not confident in their knowledge of AI and 54% areB2B marketers are increasingly confident in their marketingonly somewhat confident in their knowledge in AI. Vendors have lots ofstrategies and technologies to help them achieve objectives.FIB2B marketers are generally unclear of what AI means and theNDINGKEY FINDINGSopportunities to help their customers understand how AI can positivelyRevenue is the leading KPI for B2B marketers. 86% of respondentsunsure if they fully understand what AI is.measure success with KPIs closely tied to pipeline or revenue.KMarketers have broad expectations for AI, while some are stillEYimpact revenue projections and identify new market opportunities.4

SGNIDNMARKETERS ARE IN THE EARLYSTAGES OF LEARNING ABOUTARTIFICIAL INTELLIGENCEA significant percentage of B2B marketers are in the early stages of learningSome of these marketers are unsure of what AI means and the potential impactIabout AI in marketing technology and aren't confident in their current knowledge.Additionally, a large portion of surveyed marketers do not understand theFit could have on their marketing strategy and overall business performance.differences in types of AI such as Machine Learning and Predictive Modeling.AI is one of the most hyped terms in marketing technology with a variety of ideashas likely created a fog of confusion with many B2B marketers because theYand perspectives coming from vendors, thought leaders, and analysts. The hypeKEbroad visionary concepts likely distract from how to get the best value today.5

SGselected. This could mean a number of things including the uncertainty ofNthe positive impact AI can have on a marketing strategy.A smaller percentage are already looking to AI to help drive future successesIand opportunities and enabling their marketing strategy.DNEARLY HALF OF ALLRESPONDENTS ARE NOTUSING AI, OR DO NOT HAVEA ROLE FOR IT CURRENTLY.Across all of the available choices, ‘No role currently’ for AI was the mostNWhat role does AI play in your marketing %Y10%No role currentlyIdentifying marketopportunitiesIdentifyingcustomer prospectsbased on ICPProjecting futurerevenueperformanceComponents ofexisting marketingtechE0%K49%of marketers are not usingAI in their marketing strategy6

GSMarketers are likely aware of general AI concepts but still have more to learnNknowledge of AI in marketing technology.in order to build their confidence and understanding in how to apply AI andDIdrive the value – today.How confident are you with your level of knowledge of AI in the context ofmarketing technology?I60%NB2B MARKETERS NEED TOLEARN MORE ABOUT AI ANDTHE ROLE IT PLAYS IN AVAILABLEMARKETING TECHNOLOGY.Over half of respondents are only ‘somewhat confident’ in their level of54.6%F50%40%32.6%30%of marketers are very confidentwith their knowledge of AI12.8%Y12%20%10%E0%Somewhat confidentVery confidentKNot at all confident7

GSmachine learning and predictive modeling. Quite often vendors and thoughtHow well do you feel you understand differences between AI,Machine Learning, and Predictive?NDIleaders appear to use the terms interchangeably, which results in confusion.Nmarketers are not clear on the difference between types of AI, such asIMARKETERS ARE ONLYSTARTING TO LEARN MOREABOUT THE DIFFERENCESBETWEEN AI, MACHINELEARNING, AND PREDICTIVETECHNOLOGIES.In addition to low to moderate levels of confidence in AI knowledge, 37.4% of37.4%I am becoming more confident43.6%FI am not clear what the differences are18.9%YI have a strong understanding0% 05% 10% 15% 20% 25% 30% 35% 40% 45% 50%KE44%of marketers are becoming moreconfident with AI, machinelearning and predictive8

SGNIDNEXPECTATIONS FORARTIFICIAL INTELLIGENCEIN B2B MARKETINGMarketers are increasingly measured on their impact and success ofperformance and customer engagement is more valuable than ever forIrevenue generation. Marketing technology that enables revenueFB2B marketers to hit their goals.Artificial intelligence is ideally positioned to supercharge marketingtechnology in a number of key areas that are highly valued bymarketers, including predictive modeling, identifying ideal customer andgreater efficiencies to marketing operations. These are critical areasYmarket opportunities, improving data quality, and generally bringingKrevenue performance.Ethat all potentially have direct measurable impact on an organization's9

Seffectively and efficiently identifying account opportunities and creatingNmarketing efficiencies.DIWe are still seeing a small amount of people who don’t fully understand AI.NWhat are your expectations of AI?Other3.5%37.4%IMaking marketing tasks easierImproving marketing effectiveness in driving revenue41.4%Identifying macro market trends and opportunities39.6%Help to identify prospective customers59.0%Provide more detailed analysis of campaigns31.3%I am not quite sure I fully understand what AI isY59%F52.9%Identify specific account opportunitiesof marketers expect AI to helpidentify prospective customersGThe main expectation of AI among these respondents are grouped into13.7%10%20%30%40%50%60%70%K0%EMARKETERS ARE IN THEEARLY STAGES OF LEARNINGABOUT AI AND THE POTENTIALVALUE IMPACT IT CAN PLAY INDRIVING REVENUE FOR ABUSINESS.10

SGengagement with personalization as well as improving data management,Nidentifying market opportunities, and building pricing models.With more training and knowledge about AI, these areas of interest have theDIpotential to be huge opportunities for marketers.80%60%70.5%55.1%63.4%58.1%F70%NWhat areas are you most interested in using AI to support yourmarketing strategy?IMARKETERS HAVE A NUMBER OFAREAS THEY ARE INTERESTED INUSING AI AND ENVISIONINGHOW IT CAN CONTRIBUTE TO THESUCCESS OF THEIR MARKETINGSTRATEGY.Marketers are most interested in using AI to drive powerful tionPricingIdentifying trendsOtherKProcessing dataY20%E71%of marketers are interested inusing AI for personalization20.7%11

SGNITHE DATA QUALITY PROBLEMmaintaining data quality. They are not confident in using their current data toachieve goals and objectives. Data is the fuel that helps focus marketing andDMarketers struggle with data management and reliable sources forNsales on the right opportunities.marketers to identify and engage the right people at the right time withIData is the Achilles heel all B2B marketers struggle with. Data enablescontent they are interested in. Accurate performance measurements requiretechnologies. Data management requires continual maintenance andFaccurate data that is seamlessly updated across all integrated marketingcleansing. People change jobs, companies merge, and dynamic businessB2B marketers would highly value artificial intelligence to help with dataYsituations cause data to become out of date on a moment’s notice.KEmanagement practices.12

SGOver 77% are only "somewhat confident” or "not confident" in achieving theirgoals with their current data. There is a large potential here for marketers toIDNIHow confident are you in achieving marketing goals and objectivec given thedata you have access to?80%70.4%70%FJUST OVER 70% OF MARKETERSARE "SOMEWHAT CONFIDENT"AND ONLY 21% ARE"VERY CONFIDENT" IN ACHIEVINGMARKETING GOALS WITH THEIRCURRENT MARKETING DATA.Nutilize AI to strengthen the quality of their data.60%50%40%30%10%Y7.0%1.2%Not confident at allSomewhat confidentVery confidentN/AK0%21.4%E20%13

SNOITAVWHERE ARE MARKETERSUSING AI CURRENTLY?RGENERALOBSERVATIONSfor AI in their current operations. 20% of respondents haveSmarketing technology with AI or do not have an explicit roleENearly half of surveyed marketers are not currently usingfuture market opportunities, predictive scoring, andOcommon roles for current AI applications are identifyingBmarketing technology that includes AI capabilities. The mosttools find it "very valuable" or "somewhat valuable" for theirA64% of marketers using AI-powered marketing technologyLidentifying customers based on ideal customer profiles.14GENERoverall sales and marketing strategy.

SA possible reason for a lack of AI utilization is the majority of marketing techVAand hands-on skills.ONAI capabilities and marketers gain better understanding of the value of AIIcapabilities. There is strong market growth potential as more vendors offerT62.8% of marketers are not utilizing marketing technology with AIcomponents. As Marketers learn more about AI and as more vendorsincorporate AI capabilities, utilization will increase as long as the technologyRtools already being utilized by marketers do not yet have AI technologyETHE MAJORITY OF MARKETERSARE NOT UTILIZING OR DO NOTHAVE ACCESS TO ANY AI TOOLSIN THEIR TECHNOLOGY STACK.A37.2%YESNOEof marketers are not usingAI in their tech stackGEN63%62.8%RDo you utilize or haveaccess to any AI tools,platforms, or AI-poweredmarketing technology?LOBScontinues to drive successful outcomes.15