B2B prospecting demands decision-makers to be swift with their actions. The moment decision-makers come up with a need that requires a solution; executives swing into action and do everything possible to fulfill the need as quickly as possible. Although most B2B prospects experience an effortless buyer’s journey, they take their time to analyze the information they need to make the right decision.
But what if your sales and marketing teams get to know precisely those companies looking for the same solution/product as you offer?
This is the power of intent data which helps point out precisely those companies that are active in the buying cycle, their status in the buyer’s journey, and at which point they may consider your business for their needs.
Unfortunately, as per reports, only 25% of B2B firms are using B2B intent data for targeting, even though 62% of the marketers agree that it is the best way to improve personalization workflows.
Let us help you dig deep into what intent data is, how useful it can be, and how it is transforming B2B sales for good.
IN THIS BLOG
What is intent data?
The behavioral data collected about digital web content consumption is known as intent data. When properly processed, it can be used to spot their most pertinent interests and produce insightful data that B2B marketing teams can include in their remarketing campaigns.
When conducting an online search, decision-makers leave a data trail, just like every other person who accesses the Internet. Of course, not all research will focus on meeting a particular need inside their organization, but the type of content they click on and the amount of time they spend each give hints about their intent. With buyer intent data tools, tracking the consumption spike in topic-driven content is easier. It will send alerts based on your audiences’ online actions and the type of information they search online.
There are various sources such as white paper downloads, newsletter subscriptions, webinar attendance, case study reviews, message boards, and product comparisons from where B2B intent data is derived. B2B marketers can use this data to establish their brand as buyers’ first choice using the correct tools and settings.
Types of intent data
Intent data marketing uses indicators such as HEM, cookies, device IDs, and other activities to track website users’ movements. Intent data can be categorized as follows:
First-party intent data
Internal intent data, also called first-party intent data, refers to all the data collected directly from your website. Your team can collect gated content, IP addresses, submitted forms, and other visitor data depending on your data-processing integrations.
Once users reach your website, you should be able to track how long they stayed, what pages they clicked on, what topics or articles they viewed, and evaluate their behavior to determine their interest level, buyer stage, and more.
First-party data research can be done at the primary level with the help of analytics tools, marketing automation systems, or website backend coding. The quality of first-party data is unrivaled but limited.
Even with active sales and promotion, just a minority of B2B prospects finding a solution will find your site, and very few will be ready to buy. Also, many visitors wish to complete their research anonymously, so your intent data marketing reps might have difficulty identifying the firm or individual with IP identification of previously filed forms.
For this reason, integrating first-party and third-party data into your lead generation strategies is recommended.
Third-party intent data
External intent data or third-party intent data involves web-based information, i.e., from sources outside your business. It offers a broad view of an account’s interest across the web and calls attention to sites relevant to your product or solution.
Even before thinking about making a proposal, many B2B prospects, who seek a specific solution, may browse websites, blogs, webinars, case studies, and product reviews.
A vital aspect of this form of data is that it allows your organization to cut competition as it offers a chance to gather your competitor’s information, thus enabling you to deliver a sensitive, tailored, and engaging experience.
The only challenge is that if your marketing techniques are primarily focused on third-party data, users actively seeking a solution on your website may not get the attention they need.
Therefore, it’s best to merge first-party and third-party data insights. When combined, they reveal a potential account’s desires, business drivers, objectives, difficulties, and likelihood to buy from you.
Benefits of using intent data for B2B
While the most peculiar aspect of intent data is that it provides deep insights into the companies looking for your kind of solutions, other applications of this data-driven approach exist, too.
Marketing intent data strategies, when mixed with appropriate data segmentation processes, can help new business development teams by:
1. Giving Prospecting a Boost
Using intent data appropriately is closely correlated to the process of finding potential purchasers early in their journey.
Online technologies exist, and they can send alerts to the sales development representatives (SDRs) about the information visitors consume most, allowing them to target them with personalized approaches on how your product could fit their needs.
2. Fuels Return on Investment
ROI is a crucial metric for any new business development team. Marketing intent data allows Search Engine Marketing (SEM) experts to qualify various demographics of a lead, such as their firmographics, industry, revenue, and buyer stage.
This means your retargeting and remarketing efforts can be targeted at the top tier of your target account list, giving your team access to deal-ready prospects.
3. Discovery of new markets
Targeting those audiences that are a perfect match for your product has always been a safe approach, but intent data goes a step further to identify those lead sources that had not been on your radar.
Always keep note of unexplored industries, which may spike at any time. New settings may also offer unexpected uses for your product. Once new markets are identified, you must produce relevant content for the new leads.
4. Facilitates ABM campaigns
Account-Based Marketing (ABM) has forever been the go-to-market strategy for B2B marketers. You can map your buyer’s journey and provide relevant content that may answer their questions thanks to intent data integrations.
Nurturing leads with relevant articles, videos, webinars, white papers, and other content will help SDRs identify purchase-ready profiles.
Buyer intent data can help B2B marketers in numerous ways: It can help them qualify leads, build an effective campaign, understand the needs of target accounts, and create personalized messaging.
There’s no need to cast a wide net to target your audience who may be interested in your product or solution. Use intent data and get a list of active companies ready to buy now.
So, why the wait? Be present where your customers need you the most. Use intent data to reach your customers at the beginning of the sales cycle, accelerate demand, and drive greater ROI for your business.
You can also opt for a B2B intent data provider like Binary Demand to put the data to give your marketing efforts a push.