How Does Buyer Intent Data Boost Sales?

Apurva Pathak | March 14, 2022 | 165 views

Buyer Intent Data Boost Sales
Buyer intent data is sourced from either internal or external parties. When combined, it provides a comprehensive picture of how your targets behave online. Internal marketing teams provide first-party intent data through your company's website, automation platforms like CRM, or other in-house applications. Third-party data is gathered from buyer intent data tools.

According to a Gartner study, more than 70% of B2B marketers will use third-party intent data to target prospects by the end of 2022.

In an interview with Media 7, Laura Goldstone, Director, Communications and Branding Strategy at AdDaptive Intelligence, talked about the importance of correct messaging in sales and marketing once you know your audience.

“I think the newest trends revolve around being a strategic resource, aligning marketing and sales, and using analytics to tailor messages to your audiences’ preferences or funnel stages.”

Buyer intent data tools provided by intent data providers like Bombora, Slintel, and ZoomInfo collect high-quality intent data to help you identify the accounts that show buyer intent, making it easier for you to understand their requirements and deliver solutions through effective content.

Let's find out how intent data can help your ABM strategy by making sales easier.

Buyer Intent Data: 5 Impactful Ways It Can Help You Boost Sales

Let us look at five benefits of buyer intent data that can help you boost sales:

Create Effective Content

In ABM marketing, the marketing team supports the sales team by generating qualified leads through effective content that addresses the prospects’ needs. There are more than a billion websites competing for a prospect’s attention. Focusing more on engaging your intended audience than on your search rankings could translate to more sales. This B2B intent data will allow your marketing team to analyze the volume and quality of responses to various online 'triggers' like keywords and social engagement. This way, the marketing team eliminates the guesswork in analytics and content research. B2B intent data can assist your marketing team in its intent-based marketing endeavors. The team can develop hyper-personalized, relevant, and timely content that can be used in your sales process to engage with new leads.

Identify Buyer Groups

In the B2B domain, multiple decision-makers sign off on purchase decisions. Your key accounts might have buyer groups, and this may pose a problem for your sales strategy. You will need to appeal to multiple personas who will then make unanimous decisions when purchasing your products or services. When combined with accurate, up-to-date contact information, intent data can assist in segmenting the purchasing process into relevant stages. Buying intent is useful not only for tracking and analyzing individual target prospects, but also for tracking and analyzing entire organizations. Overall, sales teams can craft perfect messages for any target persona that crosses their path, thanks to quality intent data.

Improve Lead Qualification

After your sales and marketing teams have developed an ideal lead generation strategy, you'll want to target leads with purchase intent. The majority of leads generated may not completely align with your ICP (ideal customer profile). If your product or service isn't even remotely relevant to what they're looking for, an automation system that is a part of your ABM services can remove them from your lead list. By delving into their product research activities, using intent data in lead management and outreach helps remove some of these roadblocks. It is critical to have a nurturing system in place and implement a lead scoring process. Intent data reveals where these leads fall within your segmentation, how interested they are in your solutions, and how their purchasing process works, so your effort or time is not wasted.

Increase Customer Retention

The same buyer intent technology that is used to find new prospects and customers can also be used for customer retention. According to Brain and Company, a 5% increase in customer retention can result in a more than 25% increase in profit. Monitoring intent signals can help you identify when a current customer interacts with a competitor or looks for alternatives to your product. It allows you to engage with them earlier and provides you with another opportunity to maintain your customer relationships.

Boost Team Productivity

According to HubSpot research, 40% of salespeople say prospecting is the most difficult part of their job. Buyer intent data eliminates prospecting (such as connecting on LinkedIn, getting past the gatekeeper, and sourcing emails), which results in more sales for your company. The most effective buyer intent software solutions can provide not only company-level intent information but also contact information for key decision-makers (all whilst complying with GDPR rules). This means your sales team can get right to the point and use the most up-to-date business intelligence to engage in more conversations with the right prospects. B2B intent data keeps your sales team on top of their game by allowing them to analyze and comprehend prospects on a more granular level.

Cloudera Generated over 30 Significant Business Deals Using Intent Data

Cloudera, an enterprise management company, harnessed intent data from Bombora and Just Global to run a hyper-targeted account-based marketing strategy across its sales, advertising, and marketing teams. As a result, it generated over thirty significant business deals.

Conclusion

B2B buyer intent data can help you boost sales by accurately identifying target accounts that show buyer intent. Using buyer intent tools that give clean intent data can help your sales team generate revenue and scale your business.

FAQ

How does intent data help with sales?

With the help of intent data, your sales team can target and qualify leads swiftly and accurately as it provides all the crucial background information on the leads. Accurate targeting translates to more conversions and sales.

Where does the intent data come from?

Intent data is usually provided by third-party data providers through buyer intent data tools. These tools collect intent data from data-sharing points like B2B websites, media publishers, and other relevant sources.

How is intent data beneficial for improving an account-based marketing strategy?

With the help of intent data, you can personalize your website, focus on your inbound leads with respect to their engagement with your content, nurture leads with email marketing, and identify prospective customers who haven’t engaged with you yet. These factors can enhance your ABM strategy.

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Incisive Media is an award-winning business to business digital media and events business. It inspires, connects and informs through its market-leading brands. It is the APO digital publisher of the year 2010, 2013, 2016, 2017 and 2020.

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New RollWorks Survey Confirms Marketers Rely on Account-Based Marketing to Drive Pipeline and Revenue Goals

RollWorks | October 03, 2022

Account-based marketing platform RollWorks, a division of NextRoll, today announced the results of a six-month survey designed to gauge ongoing B2B marketer priorities and challenges. The new study reveals that marketers overwhelmingly rely on ABM to increase ROI and achieve pipeline and revenue goals. "Marketers are accepting that ABM is an efficient, effective marketing strategy that focuses on engaging the right accounts at the right time, through a variety of marketing channels. The success of the market isn't determined by the few who agree on one definition, but rather a focus on ABM's very clear value of helping to create the most efficient sales strategy that drives growth at scale," said Darragh Fitzpatrick, CRO of RollWorks. "Marketers are accepting that ABM is an efficient, effective marketing strategy that focuses on engaging the right accounts at the right time, through a variety of marketing channels." said Darragh Fitzpatrick, CRO of RollWorks. Critical Role of ABM in Key Initiatives + Challenges B2B marketers indicated a growing dependency on ABM to help support key initiatives. Survey respondents overwhelmingly said that they are turning to ABM to help increase ROI and achieve pipeline and revenue goals (72%), followed by supporting faster sales cycles (53%), as well as faster growth and bridging the communications gap between marketing and sales (48% respectively). And yet, nearly half of those polled said providing customized and relevant ad experiences to the right people on the sites they spend time on (44%), reaching the right targets on the sites they spend time on (43%), and scaling ABM programs (42%) have been the top challenges when implementing their ABM strategy. Hyper Focus on Understanding Intent from In-Market Accounts Many B2B organizations are realizing that ABM means efficiency and precision can coexist. Survey respondents indicated that their top two priorities are intent, or understanding what accounts are in-market to buy a solution like theirs, even if they haven't heard of the solution (48%), and ads and other forms of ABM engagement (40%). Doubling Down on Digital and Webinars Throughout the past six months of the survey, respondents have said that they are increasingly investing in digital advertising and webinars, with nearly 80% of respondents doubling down on digital advertising and 43% investing in webinars. Interestingly, only 18% (25% fewer than webinars) said they are investing in virtual events. Respondents have increasingly adopted HubSpot over the past six months, with two-thirds of respondents indicating HubSpot is their primary CRM. RollWorks' integration with HubSpot provides marketers with easy-to-use, end-to-end solutions to drive their account-based strategies by enabling teams of all sizes to identify high-fit, high-intent accounts and buyers, reach them efficiently, and measure impact. The integration, which has given the majority of go-to-market teams consolidated account-level visibility, is a powerful illustration of ABM and CRM working together to deliver deep insights for revenue teams of all sizes. The survey, conducted March through September 2022, consulted approximately 200 B2B marketing and sales professionals. About RollWorks RollWorks, a division of NextRoll, offers ambitious B2B companies an account-based platform to align their marketing and sales teams and confidently grow revenue. Powered by proprietary data and machine learning, RollWorks' solutions address the needs of organizations large and small — from those with best-in-class ABM programs to those just beginning their exploration. By empowering teams to identify their target accounts and key buyers, reach those accounts across multiple channels, and measure program effectiveness in their system-of-record, RollWorks is an indispensable platform for marketers and sellers who believe that an account-based approach is just good business. To learn more visit www.rollworks.com

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