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201503 ieg preso_cohan sujay carlos_aiaioo labs_publish

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Applications of Text Analytics to B2B Sales and Marketing

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201503 ieg preso_cohan sujay carlos_aiaioo labs_publish

  1. 1. Information Excellence 2015 Spring Summit Business Analytics Cohan Sujay Carlos, Founder CEO, Aiaioo Labs Applications of Text Analytics to B2B Sales and Marketing
  2. 2. Information Excellence 2015 Spring Summit Business Analytics
  3. 3. Bangalore, India aiaioo.comTitle Applications of Text Analytics to B2B Sales and Marketing
  4. 4. aiaioo.comOverview 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
  5. 5. Introduction B2C vs B2B marketing
  6. 6. aiaioo.com Image from Wikipedia Image from Wikipedia B2C Advertisement B2C and B2B Products Advertisement B2B
  7. 7. aiaioo.com Image from Wikipedia Image from Wikipedia The difference between B2C and B2B marketing is one of targeting
  8. 8. aiaioo.com Image from Wikipedia Image from Wikipedia If the product is a B2C product Customer Customer Customer Accountant B2C – A large segment of the world is a Prospective Buyer
  9. 9. aiaioo.com Image from Wikipedia Image from Wikipedia If the product is a B2B product Not a customer Not a customer Customer Accountant B2B – People in Specific Roles in Firms are Prospective Buyers
  10. 10. cohan@selasdia.com Image from Wikipedia Image from Wikipedia A description of a prospective B2B buyer is called the B2B Buyer Persona Not a customer Not a customer Customer Accountant If the product is a B2B product
  11. 11. aiaioo.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
  12. 12. aiaioo.comPromoting B2B Products B2B versus B2C B2C B2B Sales Marketing
  13. 13. aiaioo.comDigitalMarketing How We Promote B2B Products Today Digital Marketing 1. Search Engine Marketing 2. Social Media Marketing
  14. 14. aiaioo.com Image from Wikipedia Content Marketing Marketing over the web, social media, and email by sharing contentthat helps customers or prospects: 1. Content creation around keywords 2. Content dissemination on digital media 3. Lead capture using forms, polls and gated downloads This is a bit of a superset of SEO (SEO is about making your website rank high on search engines).
  15. 15. aiaioo.com Image from Wikipedia Example of Content Marketing Let’s say I am Tally, and I want to promote tools for financial accounting to Chartered Accountants. 1. Content creation around keywords that potential customers might 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.html Title: 5 Amazing Accounting Tips for Small Firms Content: Has your accounting given you spent sleepless nights
  16. 16. aiaioo.com Image from Wikipedia Image from Wikipedia Where Your Content Marketing Doesn’t Work Great Your content Your competitor’scontent You Your competitor
  17. 17. aiaioo.com Image from Wikipedia Image from Wikipedia Where Your Content Marketing Doesn’t Work Great Your followers Your competitor’sfollowers You Your competitor
  18. 18. aiaioo.com Image from Wikipedia Image from Wikipedia Fast Follower The originator f f f f f f f The fast follower
  19. 19. aiaioo.com Image from Wikipedia Image from Wikipedia Disruptor The originator f f f f f f f The fast follower dd d The disruptor
  20. 20. aiaioo.com Image from Wikipedia Image from Wikipedia Software services firm Open source project Services ss s s1s1 s1 s2s2 s2
  21. 21. aiaioo.com The above methods rely on “being found”
  22. 22. aiaioo.com Traditional Digital Marketing Works Just Like A Tool For Naval Warfare Naval Mine
  23. 23. aiaioo.comPull Method How Naval Mines Sink A Ship Prospect Content
  24. 24. selasdia.comMK37 Director Image from Wikipedia Another Way to Sink a Ship “going out and finding the customer”
  25. 25. selasdia.comPush Method How Gun Fire Sinks A Ship Prospect You
  26. 26. selasdia.com 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.
  27. 27. selasdia.com 1. Identify a Prospect Get the identity of prospective buyers from: a) Company websites b) Social media profiles c) News articles
  28. 28. selasdia.comSelasdia Identifying Prospects – An Example
  29. 29. selasdia.com Web Information Extraction for List Building Modern AI tools can search the world wide web much like a human would.
  30. 30. selasdia.com Results: B2B Prospect List Culled from Twitter
  31. 31. selasdia.com Text Analytics Steps Two Steps: 1. Named Entity Extraction/Classification 2. Relationship Extraction
  32. 32. selasdia.com Step 1: Named Entity Extraction / Classification: a) … said Janakiram, the CEO of Minewhat, while … b) Attendees included Janakiram, CEO, Minewhat … Output: Person: Janakiram Company: Minewhat Text Analytics Steps
  33. 33. selasdia.com Step 2: Relationship Extraction: a) … said Janakiram, the CEO of Minewhat, while … b) Attendees included Janakiram, CEO, Minewhat … Output: CEO_Of {Janakiram, Minewhat} Text Analytics Steps
  34. 34. selasdia.com 2. Obtain Contact Details Get the contact details for prospective buyers from: a) Company websites b) Crunchbase c) Email servers d) Social media
  35. 35. aiaioo.comSelasdia Obtaining Contact Details
  36. 36. selasdia.com Record Linkage: cohan@aiaioo.com  Cohan Sujay Carlos @cohansujay  Cohan Sujay Carlos facebook.com/cohan.sujay  Cohan Sujay Carlos Text Analytics Task
  37. 37. selasdia.com 3. Determine Heading With a prospect, you want to know shifts in interest: Strong Purchase Interest Your productCompetitor Lack of Purchase Interest
  38. 38. aiaioo.comIntentionAnalysis Intention Analysis – Purchase Intention Text Analytics Steps
  39. 39. aiaioo.comIntentionAnalysis Intention Analysis – Sell Intention
  40. 40. 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
  41. 41. 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?
  42. 42. selasdia.com Examples of Leads at the Moment of Purchase Found using Intention Analysis
  43. 43. selasdia.com 4. Engage Find ways to establish some kind of interaction typically using: a) Safe likes b) Safe follows c) Responding to inquiries or concerns
  44. 44. selasdia.com 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
  45. 45. selasdia.com How safe can automation-selected interactions be? ~ 200,000 automation-supported interactions  no complaints
  46. 46. selasdia.com Ok, Great! So How Effective Would a Text Analytics Based Process Be? Let’s do a comparison with Google!!!
  47. 47. selasdia.com Effectiveness and ROI If you interact with 100 people 10 of the 100 people might visit 1 of the 10 visitors might follow
  48. 48. selasdia.com Effectiveness and ROI The conversion rate is between 5 and 10 for different types of interaction
  49. 49. selasdia.com Effectiveness and ROI Over a half-year of operations, we got about 2000 followers That means, we got about 10000 to 20,000 visitors
  50. 50. selasdia.com Effectiveness and ROI How much would Google have charged to give you 10,000 to 20,000 visitors?
  51. 51. 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
  52. 52. cohan@aiaioo.comAny 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
  53. 53. Information Excellence 2015 Spring Summit Business Analytics
  54. 54. Community Focused Volunteer Driven Knowledge Share Accelerated Learning Collective Excellence DistilledKnowledge Shared, Non Conflicting Goals Validation/ Brainstormplatform Mentor,Guide, Coach Satisfied,Empowered Professional Richer Industry and Academia About Information Excellence Group Progress Information Excellence Towards an Enriched Profession, Business and Society
  55. 55. About Information Excellence Group Reach us at: blog: http://informationexcellence.wordpress.com/ linked in: http://www.linkedin.com/groups/Information- Excellence-3893869 Facebook: http://www.facebook.com/pages/Information- excellence-group/171892096247159 presentations: http://www.slideshare.net/informationexcellence twitter: #infoexcel email: informationexcellence@compegence.com informationexcellencegroup@gmail.com Have you enriched yourself by contributingto the community Knowledge Share..

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