B2B Buyer Intent Data Providers Bring in Your Next Customer

Apurva Pathak | April 29, 2022 | 258 views

B2B Buyer Intent Data Providers
In an interview with Media 7, Assaf Eisenstein, Co-Founder & President of Lusha, talked about the importance of buyer intent data for offering great customer service.

“The most important things B2B brands can do to establish themselves are to know their customers and match their strengths to the buyers they can best serve.”

B2B buyer intent data providers help companies resonate with their target audience in a sea of competitors. They can create timely campaigns to convert a prospect into a customer. According to Statista, about 70% of technology vendors rely on buyer intent data vendors for better prospecting. This puts B2B buyer intent data providers in the spotlight more than ever to come up with innovative solutions that can streamline marketing strategies and get more leads to the sales department.

Buyer Intent Data: What It Delivers

Businesses are sourcing intent data from B2B buyer intent data providers to maintain a competitive edge and grow. Here are a few of the key areas that buyer intent data can positively influence:
  • Your Prospecting
With the help of buyer intent data, your sales team can engage with a prospect with added accuracy at the right time (ZMoT) because it has the contextual information on the prospect. The team can prioritize good-fit leads and accounts.
  • Your Messaging
Identify any messaging gaps and create ideal, personalized, and precise messaging for your lead nurturing campaigns to increase engagement. Buyer intent data reveals your prospects’ interests and pain points, which you can capitalize on through your messaging.
  • Your Ad Targeting
Your ad campaigns can be more accurate thanks to B2B buyer intent data. They can target both known and unknown prospects who engage with your key topics with precise messaging. 
  • Your ABM Campaign
In ABM marketing, B2B buyer intent data can tell you which of your target accounts are actively in the market looking for your product or services. It can also help you prioritize engagement and resource allocation and tailor messaging to address specific pain points that your target accounts are struggling with.
  • Your Revenue
The combined result of using buyer intent data tools is a spike in your revenue through lead nurturing campaign personalization, timely engagement, enhanced sales prioritization, and customer experience.

How is B2B Buyer Intent Data Driving Revenue?

For some time now, B2B buyer intent data has been a buzzword for B2B marketers because it is streamlining the conversion of marketing qualified leads (MQLs) to sales qualified leads (SQLs) through multi-channel targeted advertising. It helps them focus more on engaging prospects with buyer interest than on their size to predict the actions of prospects. It considerably shortens sales cycles and assists in demand orchestration when integrated with the sales funnel.

Let us look at how B2B buyer intent data can benefit businesses:

Understanding the Customers’ Pain Points and Demands

Using TechTarget’s Priority Engine, a prospect-level intent data product, Zoom was able to solve three crucial challenges in their ABM marketing strategy: sorting their prospects, personalized messaging to engage these prospects, and the perfect time to get in touch with them. With the help of Priority Engine, Zoom’s sales representatives improved their efficiency and generated more qualified leads that were closer to conversion.

Optimizing Sales and Marketing Approaches

It is crucial to implement ABM marketing to build an enterprise pipeline. Tracking deal progression, account engagement, and sales and marketing alignment are important for any company to succeed. Dialpad, a cloud communications platform, leveraged Demandbase to optimize its sales and marketing approaches. The platform provided Dialpad with insights whenever a lead moved from marketing qualified to sales qualified, so its sales reps never missed an opportunity. In less than six months, Dialpad sales reps got 80% more MQLs for conversions, a 20% increase in target account penetration, and 15% more deals in the pipeline in a shorter timeline.

Creating a Targeted Content Strategy and Web Personalization

Companies can no longer rely only on search engine optimization while designing their content strategy. They need to focus on offering a solid customer experience through web personalization and targeted content that addresses the pain points of the customers through effective solutions. Dodge Data, a data analytics company, used buyer intent data from Triblio to create a content strategy, personalize their website, and execute targeted display advertising campaigns. Dodge Data re-engaged 30-40 visitors per day, approaching them right when they were warm, leading to more conversions than when they relied only on demand generation campaigns.

Customer Retention Through Insights

Post-sales experience is just as important for business growth as gaining new customers. With the help of Demandbase One, Equilar, a software and technology company, was able to retain their customers and serve them on time with the help of insights on product activity and engagement. The company received regular alerts on the accounts it was catering to so it could reach out to them and keep the existing clients happy.

Efficient Lead Scoring & Pipeline Growth

Pipeline growth is a criterion for success and synchronization between the sales and marketing departments, an important attribute of ABM. Buyer intent data helps business development representatives qualify prospects that show buyer intent so they can book meetings. Leoforce, an AI-based recruiting company, used buyer intent data from Slintel and saw a pipeline growth of 10%-20%.

Enhancing ABM Strategy

B2B buyer intent data enhances the ABM strategy by identifying key accounts ready to go in-market. If B2B companies do not have this data today, they will be far behind in the competition and won’t be able to monetize their ABM strategy. A great example of how a company can enhance its ABM strategy using B2B buyer intent data would be Arizent, a book and periodical publishing company that became a part of B2B buyer intent data provider Bombora’s Data Co-op. The company monetized its ABM strategy using the buyer intent data from Bombora by capitalizing on the accounts that showed purchase intent.

Wrapping It Up

By leveraging B2B buyer intent data, businesses can drive revenue through enhanced ABM strategy implementation, outstanding customer experience, and insights that can help them enhance their sales strategy and pipeline.

FAQ

How can buyer intent data providers help you increase your sales?

Intent-based marketing can help you streamline your prospecting pipeline, focus your marketing effort on accounts that show buyer intent, and understand the pain points of customers. This can help you increase your sales pipeline.

How can you enhance your ad campaigns using buyer intent data?

Intent data can help you make your ad campaigns more granular because it allows you to capitalize on leads that show buyer intent signals. As a result, the ads will target buyers who are close to making a purchase decision.

Who are some of the popular B2B buyer intent data providers?

Some of the popular B2B buyer intent data providers are Bombora, Slintel, Demandbase, and ZoomInfo.

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Forrester's 2022 CX Index: Singaporean Firms Unable To Maintain Customer Experience Momentum Gained In 2021

Forrester | November 21, 2022

According to Forrester's (Nasdaq: FORR) 2022 Singapore Customer Experience Index (CX Index™), despite positive change in CX scores in 2021, financial services firms in Singapore have been unable to maintain that momentum, with average scores dipping slightly in 2022. Forrester's Singapore CX Index benchmarks the CX quality of financial services brands across automotive/home insurance and banking industries. It is based on a survey of more than 2,500 consumers in Singapore across 11 brands, including six insurers and five banks. According to Forrester's CX Index, how an experience makes customers feel, through a collection of positive or negative feelings, has a bigger influence on their loyalty to a brand than effectiveness or ease. Among customers of Singapore's banking industry who felt confident about a particular brand, 74% plan to spend more with that brand and will advocate for it. In contrast, of customers who feel disappointed in a particular insurer, just 11% plan to spend more and only 12% will advocate for that brand. Last year, the Singapore CX Index saw the highest level of positive change since its launch in 2018. Many brands, especially the insurance sector, which was heavily reliant on personalised service from agents, used the pandemic lockdowns as an opportunity to build CX equity with their customers. Unfortunately, most firms have been unable to maintain that trend in 2022. For example, the insurance sector saw their average score dip significantly, with five of the six brands losing ground. Similarly, with the exception of United Overseas Bank (UOB), the banking sector saw no significant positive change in their CX scores. In a turnaround of last year's performance, UOB jumped five points to offer the best CX of all the banking and insurance brands this year. The bank doubled down on digital experiences to deliver more emotionally positive interactions for its customers and improved its website and mobile app experiences. Income Insurance (formerly NTUC Income) effected a spectacular reversal in its ranking in 2022, going from last to first amongst automotive/home insurers. In a year that saw the decline of CX quality for all its peers, the company improved its website and mobile app experience score. "While financial services brands in Singapore were steadily improving their CX quality over the years, that has now plateaued and most are still offering just OK customer experiences," said Amit Bhatia, senior analyst at Forrester. "While financial services brands in Singapore were steadily improving their CX quality over the years, that has now plateaued and most are still offering just OK customer experiences," said Amit Bhatia, senior analyst at Forrester. "To achieve CX leadership, brands must dive deep into data to understand the key drivers that most influence customer loyalty to be able to prioritize their efforts." About Forrester Forrester (Nasdaq: FORR) is one of the most influential research and advisory firms in the world. We help leaders across technology, customer experience, digital, marketing, sales, and product functions use customer obsession to accelerate growth. Through Forrester's proprietary research, consulting, and events, leaders from around the globe are empowered to be bold at work — to navigate change and put their customers at the centre of their leadership, strategy, and operations. Our unique insights are grounded in annual surveys of more than 700,000 consumers, business leaders, and technology leaders worldwide; rigorous and objective research methodologies, including Forrester Wave™ evaluations; 70 million real-time feedback votes; and the shared wisdom of our clients.

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