Intent data is powerful marketing and sales intelligence that can transform how a company offers its products or services. It is based on online user behavior both on the company’s website and elsewhere on the internet (other websites, social media, etc.). Basically, this data showcases user intent, meaning that it is based on what a potential customer is looking to do, engage with, or buy.
Buyer intent data can be leveraged in numerous ways to improve sales, boost revenue, and grow a business. Statistics say that the top three ways B2B companies utilize intent data are for prospecting, sales enablement, and targeting high-intent accounts.
This post will explore how to use intent data to drive sales by personalizing content, creating better targeted inbound and outbound campaigns, and more.
Common Marketing and Sales Mistakes
Whether you send cold messages, create website content, or manage your B2C or B2B marketing campaign, generalization is never the answer. Creating generalized content – without anything specific tailored to a small market segment or a potential buyer in particular – is the quickest way to lose your prospect’s interest. An astounding 60% of customers declare that a personalized shopping experience greatly contributes to becoming a repeat customer.
When it comes down to it, you want to sell or provide value for your B2B buyers in a very specific manner that will resonate with them on an individual level. This means tailoring all of your marketing and sales efforts specifically towards their wants and needs based on what they are searching for.
2. Not understanding the audience’s pain points
Without a pain point, your potential customers have no reason to engage with or invest in your product or service. That is why it’s critical to recognize the pain points of the potential buyers you are targeting and what makes them tick.
For outbound lead generation to have an effect, you need to know how your company can solve the problems of those you are targeting on a more personal level. You also want to communicate these benefits in an approachable way that shows you understand their issues and have gone out of your way to provide value for them and are not just trying to sell them something.
3. Unqualified leads
Engaging with a person who has no interest in your product or service is a waste of time, no matter how small that action might seem. Unfortunately, many companies are unaware that their website visitors have zero interest in what they’re offering until it’s too late – which means lost sales and time for them.
Reaching out to people who are actively researching what you’re offering is the best way to boost conversion rates and shorten the sales cycle. Finding these people means leveraging intent data to understand what they’re looking for and knowing how to provide the best possible experience.
How Intent Data Boosts Sales
One of the best ways to avoid the above-mentioned mistakes is by leveraging intent data to understand what your audience is looking for.
B2B intent data provides insight into your target market segment’s actions, behaviors, interests, and opinions based on what they are searching for. This means you can understand the purchase intent of your target audience and communicate with them in a way that resonates on an individual level.
Here are some ways you can use these buyer intent data to drive sales for your business:
1. Personalized Content
By using intent data, you will know what your target market segment is looking for, the keywords they are using to find it, and how you can tailor that information specifically towards them.
This means creating personalized content – whether this is text, image, or video-based – so that each page on your site speaks directly to those who visit it. According to statistics, in 2020, 93% of global B2B marketers believed that personalized website content increased their company’s revenue.
Suppose a person visiting your site belongs to a large company (say, over 100 employees). In that case, the CTA (call-to-action) on the page can change from ‘sign up now’ to ‘contact our sales team.’ It is because you know they are likely in the market for a high-level solution.
And it’s not only about your website! Personalization can take place via email marketing, social media outreach, and much more. Your whole outreach strategy can be shaped around the intent data you’ve collected.
2. Targeted Advertising
However, intent insight can be leveraged to create targeted inbound and outbound campaigns that allow you to reach out and engage with your prospects on a more personal level.
Not only is intent data useful for creating targeted campaigns, but it also allows for more efficient campaign management by grouping leads into segments based on the level of interest they have in your product or service (their intent score).
Intent data can also be used to measure the success of these campaigns and compare it with other channels, such as organic search traffic or paid social media outreach. This means that you’ll have a better idea about which advertising strategies work best for you and know where to put more time into improving conversions.
3. Increased Customer Retention
A study way back from 2010 stated that for businesses, acquiring new customers costs about five times as much as retaining existing customers. Even though this information is relatively dated, it accurately reflects the importance of customer retention even today. Furthermore, Harvard research confirms that increasing customer retention rates by 5% increases revenue by anywhere between 25 to 95%.
What does this have to do with intent data?
Aside from using intent data to analyze the online behavior of your potential customers, you can also use it to analyze your existing customers, which will allow you to:
- Identify upsell opportunities,
- Segment leads into appropriate buyer personas, and then tailor their experience accordingly,
- Determine why they chose your brand over others, and more.
This way, intent data can help you better understand the needs of your clients and keep them engaged with your product or service; this, in turn, increases customer retention rates because these people are receiving what they want from you.
Using intent data and other customer analytics, you can identify the areas where your business is performing well and those that need improvement. This will allow you to make data-driven decisions to improve different aspects of your company’s operations.
Predictive Data vs. Intent Data
Various data platforms utilize big data for predicting future events, including user behavior and intent – this data is called ‘predictive’ data. These platforms lean on machine learning, data mining and modeling, and AI to uncover consumer trends.
Since predictive data relies on past events, it cannot provide accurate information about specific customers. It might indicate an interest in a product or service, but not the exact level of that interest.
In contrast, intent data doesn’t take into account what happened in the past. It analyzes online user behavior and content consumption in real-time, providing information about specific companies and their interests.
This makes B2B intent data more valuable for marketing and sales purposes than predictive data because you can use the former to create targeted campaigns that drive conversions on your website.
As you can see, intent data is an incredibly useful tool for B2B marketers and salespeople alike. It provides all the information you need to target your campaigns based on user behavior to be as efficient as possible without wasting time or resources.
The three most common mistakes sales and marketing teams make are not understanding the problems of their audience, sending out generalized content, and reaching out to those who are not yet interested in their products or services. Since intent data allows you to understand your customers on a deeper level, it makes it easier for companies to avoid these pitfalls and maximize their sales potential (especially B2B sales).
By using intent data, you can learn about your audience and create content that speaks to them in a way that makes sense, given their level of interest. You’ll also be able to tailor the customer journey from beginning to end based on these insights, so they receive what they’re looking for when they reach out to you.
In the end, intent data provides a competitive edge for companies by helping them convert their leads into customers more often and retain existing ones through targeted campaigns that speak directly to their needs. And in today’s digital age, where so many people are online at all times of day or night, this is no small feat!
If you have any questions on using intent data effectively, please feel free to reach out to us at AI.corns. Our team of experts would be more than happy to assist you in any way they can!