By: Whitefriar PR
At Wayfair, a leader in the home furnishing space, the use of Artificial Intelligence (AI) has transcended conventional boundaries, influencing not just customer-facing initiatives like the innovative Decorify tool but also reshaping the entire B2B landscape. Sanjeev Singh Sahni, VP and Global Head of Wayfair Professional and B2C sales, recently shared his insights on a Retail Customer Experience podcast hosted by Judy Mottl, highlighting the broader application of AI in retail.
AI Beyond Consumer Interaction
Sanjeev Singh Sahni’s perspective on AI is holistic. “It’s a very exciting time for AI and AI in retail,” he shares. This enthusiasm is echoed in a Retail Customer Experience blog by Allison McCabe and Julie Cheney, which underscores AI’s multifaceted role in retail – from product suggestions to demand forecasting and inventory allocation. Wayfair leverages AI to glean faster and more accurate insights from data, thereby enabling better decision-making and enhancing the B2B customer experience and ultimate revenue growth.
The B2B Customer Experience Gap
Despite the advancements in B2C customer satisfaction, B2B lags behind, with B2C companies scoring between 65 to 85 percent, while B2B averages less than 50 percent. This gap is widening as B2B customer expectations rise, influenced by the digitization and responsiveness seen in B2C sectors. Sahni’s approach at Wayfair addresses this gap by applying AI not only in direct consumer interactions but also across the entire B2B spectrum.
At Wayfair, AI-driven strategies have resulted in more personalized and efficient customer experiences, mirroring the success seen in B2C settings. Sahni’s vision encompasses a broad transformation of customer experience processes, leading to improved client satisfaction, cost efficiency, revenue growth, and employee satisfaction. He draws parallels to an IT services provider that significantly improved its customer experience, resulting in positive net promoter scores and industry outperformance.
Complexities and Solutions in B2B
The B2B sector presents unique challenges, including a diverse range of stakeholders and complex buying behaviors. Wayfair’s AI application recognizes these complexities. Sahni’s approach involves understanding the different needs of various stakeholders, from procurement teams to end users, and tailoring AI solutions to address these diverse requirements. This strategy mirrors successful practices in other industries, where companies have effectively managed complex customer journeys and stakeholder relationships.
To delve deeper into Sanjeev’s innovative AI strategies and keep up with his latest thoughts, you can follow him on LinkedIn.