The Wealth Behind B2B Intent Data
June 27, 2019
Intent data is the heir of big data analytics and lead generation. Modern technology can now predict and anticipate the “intent” of a user based on their activity and search strings. It’s now possible to find potential customers out of the 4.3 billion internet users worldwide.
Intent data creates categories based on personal interest as opposed to traditional date; demographic location, age, and gender. As an example, Intent Data administers assurance that people searching for the latest car models are interested in it and may likely purchase one in the near future. The same can be said for people searching for food, organic supplements, and software, ect.
Concentrating on lead generation based on the users intent instead of traditional demographic targeting will deliver higher quality leads. A prospects intent shows their interest in the company’s products or service offerings. This eliminates guessing based on an individual or groups buying behaviors assumed on simple demographics.
Intent Data can Influence the Buying Cycle
The consumer decision making process depends on the item itself. The same person will not go through the same thorough research when buying baby formula as opposed to buying a house. However, even if both products are different in nature, a bad purchase on either of them may negatively impact the persons future. This is where Intent Data coming in -providing timely information ahead of competitors controls the buyer’s journey. A potential consumer will always find the time to read more information about products and services they are interested in purchasing.
Identify Online Behaviors That Transitions into Successful Sales
Regardless of the product or service a company offers, a sales funnel exists. It doesn’t matter if the company is paying attention to its own funnel or simply playing a numbers game, there is a specific pattern of decisions and behaviors throughout the funnel that eventually leads to a closed sale.
Intent data identifies these behaviors and informs the marketing team how the behaviors eventually drive a decision that allows the lead to excel or abandon the sales funnel.
Nurture Risk Customers
The buying cycle does not always end up in a sale. The buyer may end up purchasing from a competitor. Intent data can inform the company to nudge the lead favorably towards your direction once risk behaviors are identified.
Proactively providing information to potential buyers who are receptive to your products and services develops trust between the would-be consumer and the company. Assess and build strategies around the unique buying cycle in your industry and focus your marketing efforts on building favorable impressions to potential clients every step of the funnel.
Implement a marketing plan based on what gives your company control of the buyer’s journey in your niche. It results in better ROI on marketing efforts and prevents lead burnout.
Intent Data Opens the Possibility of Personalized Advertising
Interacting with potential buyers from lead nurturing and other marketing efforts are hot sales leads. Engagement gives you and your company feedback on their decision-making process and creates an opportunity to provide them the right information to make the purchase choice.
Intent data is similar to Account Based Marketing (ABM) in that regard—giving you enough information to nurture and deliver personalized marketing material that intrigues prospects to make a purchase decision.
It is especially helpful in B2B marketing where the number of qualified leads is much smaller than marketing to the general public. Personalization also creates intimacy and develops trust between the marketer and the potential consumer.
Developing and implementing strategies that are specifically focused on the decision-making process based on your consumer provides higher value and makes your company impressionable.
There are different ABM tactics all of which work great with leads gathered from Intent Data:
- Strategic Account Marketing. A highly personalized strategy that engages the marketing team to specific highly valued customers or potential clients.
- ABM Lite. This works well for products and services with long complex sales cycles such as SaaS, PaaS, and high ticket items. It is semi-personalized to fit the needs of small niche groups.
- Programmatic ABM. When you target a small group that shares the same traits and challenges. It is similar in scale to top-to-bottom funnel, and can only be successful when played by the numbers.
- Bolt-On ABM. It is a B2B specific tactic that is designed to engage the entire buying committee. This is important in securing stakeholder involvement. Most B2B purchases are not decided upon by a single person. Strategies focus on engaging the entire decision-making process to increase the chances of a successful sale.
Intent Data is now possible with modern analytics. Marketers, especially for B2B companies, see the value in using lead generation programs and Intent data to emphasize quality over the quantity of leads. Gaining high quality leads and nurturing prospects through the use of Intent Data will convert to more sales and increase marketing ROI.
To learn more about the many benefits of integrating intent data into your marketing and sales strategies check out our whitepaper, The Benefits of Using Intent Data in B2B Lead Generation.