In today’s data-driven business landscape, understanding customer intent is paramount. This is where B2B intent data comes into play, providing valuable insights into potential customers’ buying behavior and preferences. It allows you to determine whether a prospect is actively considering or seeking to purchase your products, solutions, and similar offerings.
As businesses strive to stay ahead in a highly competitive market, harnessing the power of B2B data solutions has become increasingly crucial. Let’s explore what it is and why it has emerged as a game-changer for sales and marketing strategies.
In essence, B2B buyer intent data provides valuable insights into the potential purchase decisions of individuals. By analyzing this data, you gain a deeper understanding of prospects’ buying signals, whether overt or subtle.
This knowledge empowers you to position your product as the optimal choice. These buying signals may manifest as industry keyword research, booking demonstrations, or downloading reports.
When you combine the b2b data enrichment solutions with the firmographic details of your ideal customer profile (ICP), you gain a more precise target for your marketing efforts.
Your ICP outlines the characteristics of the customers you desire, while intent data reveals which prospects express interest in your offerings. When the prospect you target demonstrates a reciprocal interest in your product, it signifies a perfect match.
But where does a B2B company get the intent data from? Choosing from the best B2B lead generation companies can help you get the needed data. Let us find out how intent data is collected.
Buyer B2B intent data is derived from analyzing a prospect’s actions that indicate their needs. These actions primarily encompass online activities like searching, evaluating, comparing products, and reading online reviews.
For instance, when someone searches using the phrase “good on gas mileage car,” companies in the automotive industry can identify the searcher’s intent to find a fuel-efficient vehicle.
Here are the different types of B2B intent data:
|First-party Data||Second-party Data||Third-party Data|
|First-party intent data refers to user information collected directly from websites, encompassing site activity, engagement, and purchase details. It provides valuable insights into the individuals interacting with your site and their engagement level.||Sources like search engines and social media platforms, known as second-party sources, have access to user data that offers valuable insights into customer interests and online behavior. These insights can help businesses understand customer preferences and behavior more effectively.||Third-party intent data providers collect, analyze, and share essential information with their clients about consumer preferences. They obtain this information through consumer survey panels, internet monitoring, and other models to understand what consumers are searching for and interested in.|
Now that you know the various types of B2B buyer intent data, how can it cater to the needs of your business and increase your Return on Investment (ROI)?
Marketers can improve their priorities through intent data and venture into new markets.
By harnessing the power of intent data, businesses can seize a valuable opportunity to gain deep insights into customer needs and preferences, leading to a transformative shift in their marketing approach. Here are the most common approaches to utilizing intent data –
- LinkedIn-matched audiences – Utilizing intent data amplifies the effectiveness of B2B Account-Based Marketing (ABM) strategies used in campaigns and content marketing. By targeting individuals with high intent who require specific information at different stages of their buying journey, intent data empowers businesses to maximize the impact of their marketing efforts on LinkedIn.
- Enhanced targeting – Leveraging intent data simplifies creating a more precise ICP.
- Website optimization – By fine-tuning your ICP, you can optimize your website to deliver maximum impact and effectively resonate with your target audience.
Since intent is available in raw form, the data you attain doesn’t need to be worth retaining. You need the best quality B2B intent data for the best outcome.
According to a recent study, a marketers’ primary challenge in utilizing B2B data management solutions is ensuring its quality, closely followed by the difficulty of translating intent data into actionable insights.
However, it is crucial to recognize that these efforts may not yield the desired results if your team works with low-quality data from the outset.
To ensure the reliability of your provider and assess the quality of the third-party B2B intent data you are procuring, consider asking the following questions:
- From which sources do you obtain your data, and how frequently do you verify its accuracy?
- If your provider indicates that they only verify the data once or twice a year, or worse, never, you are not adequately supporting your team. A quarter can bring significant changes to a company, including new team members, revised budgets, and shifts in leadership and decision-makers.
- Another red flag is when providers claim to verify large volumes of data upon request instantly. While technology has advanced, ensuring data accuracy, verification, and enrichment should still take several hours. Instant verification raises concerns about the thoroughness and reliability of the process.
- How user-friendly is your platform? Does it seamlessly integrate with my team’s CRM system?
- If you encounter difficulties accessing or utilizing your data, its value diminishes. During a demo with your data provider, evaluate the ease of implementation.
- Inquire about the onboarding and support process offered by your provider. Avoid technical obstacles that could hinder your team from achieving the desired results.
Once you have collected high-quality data, you need to understand how it will work in your favor.
For optimal effectiveness, your data solutions B2B should be combined with other data sources to create a comprehensive scoring model that considers factors like fit and engagement.
Placing excessive emphasis on intent data can also result in marketers prioritizing short-term gains over establishing a sustainable pipeline.
For optimal effectiveness, your intent data in B2B should be combined with other data sources to create a comprehensive scoring model that considers factors like fit and engagement.
When utilized appropriately, intent data can predict more likely purchase accounts. Connect with Binary Demand today to leverage deep insights from our first-party intent data and boost your ROI to heights.
Q. What is buyer intent data?
A: B2B buyer intent data shows where a lead is in the buying cycle and whether they are ready to buy your product or one of your competitors. It originates from website data, off-site activity, your CRM, social media, and content usage data.
Q. What is behavioral intent data?
A: B2B behavioral intent data involves recognizing the actions taken by actual decision-makers that indicate their intention to make a purchase, seek information, or access content.